Shares of Star Royalties Ltd (OTCMKTS:STRFF) (TSXV:STRR) has been moving in a range after the recent fall.
Market Action
On Friday, STRFF stock ended lower by 0.79% to $0.4385 with 53.5K shares, compared to its average volume of 62.58k shares. The stock moved within a range of $0.4385 – 0.4493 after opening trade at $0.4491.
Star Royalties Highlights First Ore Shipment at Gold Mountain’s Elk Gold Mine
Precious metals and green royalty and streaming investment company, Star Royalties Ltd (OTCMKTS:STRFF) (TSXV:STRR) on February 4, 2022, announced highlighting of Gold Mountain Mining Corp about first ore shipment at the Elk Gold Mine located in BC, Canada. Star Royalties owns 2% net smelter return royalty on Elk Gold.
The first ore shipment highlights include Gold Mountain has finished its first delivery to New Gold Inc.’s New Afton processing plant and the ore was mined from Elk Gold’s 1300 vein located at the footwall of historic Pit 2. Furthermore, Gold Mountain’s ore purchase agreement for both operating and scaling mine operations has ensured avoiding of annual carbon emissions of 11,500 tonnes. Furthermore, Gold Mountain will be delivering New Gold 70,000 tonnes of high-grade ore per annum in the first three years and then 350,000 tonnes per annum in the next seven years.
Alex Pernin, Chief Executive Officer of Star Royalties congratulated Gold Mountain on its well-deserved revenue generation. Pernin added that Elk Hold royalty shows cash flow in tier-one jurisdiction from a high-margin gold mine and believes that the Elk Gold’s exploration presents superb wealth creation potential. The firm is keen on the results of Gold Mountain’s ongoing Phase 3 drill program.
Star Royalties Ltd has created the world’s first carbon-negative gold royalty platform and gives investors exposure to gold with a higher negative carbon footprint.
Key Quote
Alex Pernin, Chief Executive Officer of Star Royalties, commented: “We congratulate Gold Mountain on their well-deserved revenue generation. Our Elk Gold royalty represents cash flow in a tier-one jurisdiction from a high-margin gold mine operated by a driven and highly capable team. We believe Elk Gold’s exploration and production expansion upside provide excellent wealth creation potential for our investment portfolio, and we look forward to the results of Gold Mountain’s ongoing Phase 3 drill program.”
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