Toronto’s Cobalt 27 Acquires Royalty Stakes in Australian Mines

Toronto-headquartered Cobalt 27 Capital Corp. has agreed to acquire a 1.5% gross revenue royalty (GRS) on the Flemington Cobalt-Scandium-Nickel project located 370 km west of Sydney, in New South Wales, Australia and held under option by Australian Mines Ltd. In addition, Cobalt 27 has agreed to acquire a 1.7% GRR on the fully-permitted and construction-ready Nyngan Scandium project owned by Scandium International Mining and located 500 km north west of Sydney near the town of Nyngan. Cobalt 27 acquired the Flemington and Nyngan royalties from Jervois Mining Limited for US$4.5 million, comprising US$1.5 million in cash and US$3 million in common shares, which are subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws. Cobalt 27 is a minerals firm focused on cobalt, an integral element in key technologies of the electric vehicle and battery energy storage markets.  

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