trending Market Intelligence /marketintelligence/en/news-insights/trending/9ldt7psd2tkh1z0sie3rmg2 content esgSubNav
In This List

Red 5 selling royalty on Mount Cattlin lithium mine for A$11M

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Podcast

Energy Evolution | Looking ahead to the energy transition in 2023

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?


Red 5 selling royalty on Mount Cattlin lithium mine for A$11M

Red 5 Ltd. is selling its royalty on Galaxy Resources Ltd.'s Mount Cattlin lithium mine in Western Australia to Lithium Royalty Corp. for A$11 million.

The ASX-listed company has the right to receive a royalty of A$1.50 per tonne of ore processed from the Mount Cattlin site, according to the June 18 statement.

Red 5 will receive 35% of the royalty entitlement for the June quarter, with Lithium Royalty to receive the remainder of the June quarter payout and to receive the full royalty payments starting in the September quarter.

An initial A$7 million is payable upon approval from the Foreign Investment Review Board, with the remainder to be held until the September quarter entitlement is received.