Comet Lithium Corp | TSXV: CLIC

 

Royalties

Royalties

Royalties

Strategic Divestment and Retention of Long-Term Value

Royalty Highlights:

Update: as of January 2025

McKenzie Gold Royalties:

  • Land Package:
    • Comet’s 45% non-controlling interest in approximately 6,800 hectares across 8 claim blocks within the McKenzie Gold Project.
    • The McKenzie Gold Project is located 10 km east of St. Quentin and 20 km west of Puma’s Williams Brook Project, recently optioned to Kinross Gold Corporation.
  • Royalties:
    • 2% net smelter return royalty (“NSR”) on the Northwest Property (claim numbers 7298-7734).
    • 2% NSR on the Grog Property (claim numbers 7211-8167-7683-9131-9132-9133).
    • Puma retains the right to purchase 1% of each NSR at any time for $500,000 per royalty.

Strategic Rationale:
“This transaction allows Comet to retain exposure to a significant land package while creating shareholder value and focusing on our core assets,” said Vincent Metcalfe, President & CEO. “We’re excited to see Puma’s leadership in advancing these properties and unlocking their potential.” 

Future Impact:
By retaining royalties, Comet ensures long-term value and potential income from the development of these properties, aligning with its strategy of optimizing its portfolio for growth.