Ramelius Resources Limited (ASX:RMS) (“Ramelius”) is pleased to announce that after a competitive process it has entered into a binding agreement with a subsidiary of LTR to terminate the Lithium Royalty Deed that it owns over a large proportion of the Kathleen Valley Lithium Project.
The Royalty was granted to Ramelius when it disposed of the Kathleen Valley Lithium – Tantalum project to LTR in 2016. The Royalty comprised both a Production component of A$0.50/tonne of ore mined and a Sales component of 1% of the Gross Sales of the ore.
Managing Director, Mark Zeptner, today said:
“When we divested the Lithium project to Liontown in 2016 we did so by accepting a royalty in a commodity that, at the time, was only just beginning to attract market attention. Liontown have done a sensational job in developing the Kathleen Valley Project to the long life, world class scale that it is today. We wish them every success in bringing the project through to development over the coming years.
We are very fortunate to have been able to benefit from the battery minerals thematic and having considered this asset as non-core for some time, we felt that now was the time to exit and use the funds to support our gold growth story.”
