Ecora (LSE/TSX: ECOR) announces the
Ecora and Quasar have been engaged in a legal dispute since 2016 over the level of allocable charges being applied to calculate NSR revenue subject to the Group's royalty entitlement. On
Following the initial ruling, the Group received a settlement payment of approximately
Since
A total of approximately
Furthermore, the Group has been awarded its legal costs of both the trial and of the appeal, which will be assessed, if Ecora and Quasar cannot reach agreement.
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Tel: +44 (0) 20 3435 7400
About Ecora Resources
Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future.
Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.
The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.
Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of our royalty portfolio.
Ecora's shares are listed on the
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