Nova Royalty Corp. (TSXV: NOVR | OTCQB: NOVRF), a Canadian copper and nickel-focused royalty and streaming company, has reported its audited financial results for the year ended 31 December 2021 and has provided an update to its portfolio.
Alex Tsukernik, the company’s president and CEO, described how 2021 was a transformational year for the on the back of a “similarly exciting 2020”.
“We now own royalties on a significant proportion of the next generation of major copper assets being advanced into production and are continually adding to our portfolio,” said Mr Tsukernik.
“During 2021, we nearly doubled our royalty exposure on Taca Taca (First Quantum) and added royalties on West Wall (Anglo American and Glencore), Vizcachitas (Los Andes Copper), and Copper World and Rosemont (Hudbay), the last of which was announced early in January 2022.
“Additionally, we added our first cash flowing royalty by acquiring a royalty on the producing Aranzazu mine, operated by Aura Minerals Inc. Performance at Aranzazu has exceeded our initial expectations, having achieved multiple throughput expansions and cost reductions since 2018. The royalty is currently generating approximately US$1.5 million – US$2.0 million of revenue on an annualized basis, with Aura guiding toward future production increases.
“As we advance through 2022, we continue to build Nova into what we believe will be the world’s premier copper investment vehicle with additional exposure to strategic nickel assets.
“We are advancing on both of our main strategic priorities: acquiring additional royalties on advancing multigenerational projects such as Taca Taca and Copper World/Rosemont, and adding current cash flows from strong mid-size operators such as Aranzazu. We look forward to updating the market on our continued progress,” Mr Tsukernik concluded.
About Nova Royalty
Nova is a royalty company focused on providing investors with exposure to the key energy transition raw materials, including copper and nickel. The company is headquartered in Vancouver, British Columbia.
To find out more, visit www.novaroyalty.com
