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- Manganese resource company Element 25 (E25) has completed its $500,000 royalty sale with Canada’s Vox Royalty Corp
- Element 25 has received 151,700 shares in Vox for CAD$3 per share
- Proceeds from the sale will be used to develop the Butcherbird Project
- Butcherbird is Australia’s largest onshore manganese resource, which is located in Western Australia
- Element 25 is up 1.25 per cent on the market this afternoon, trading for 40.5 cents per share
Manganese resource company Element 25 (E25) has completed its $500,000 royalty sale with Canada’s Vox Royalty Corp.
Element 25 has received 151,700 shares in Vox for CAD$3 per share, which totals to A$500,000. Proceeds from the sale will be used to develop the Butcherbird Project.
Vox is a growth and precious metals focused mining royalty and streaming company. It holds 36 royalties and steaming assets.
Royalties in the sales agreement include the Green Dam, Holleton and Yamarna gold royalties, as well as the Yalbra graphite royalty.
Element 25 Managing Director Justin Brown is pleased with the completion of the deal
“E25 is very pleased with the completion of this transaction which adds important additional capital to the balance sheet and will contribute to funding the development of the Butcherbird Manganese Project, the company’s flagship asset,” he said.
The Butcherbird Manganese Deposit is Australia’s largest onshore manganese resource, located in Western Australia. Maganese is the 12th most abundant element in the earth’s crust.
The project has a current JORC resource in excess of 263 million tonnes of manganese ore.
Element 25 is up 1.25 per cent on the market this afternoon, trading for 40.5¢ per share at 3:58 pm AEST.
