Investment into mining project, within the country of Jamaica, has an initial primary focus to develop the production of high value and high concentrate Titanium Dioxide, Vanadium Ore and Iron Ore
FISHERS, IN / ACCESSWIRE / February 6, 2024 / Royalty Management Holding Co. (NASDAQ:RMCO) ("Royalty Management" "RMCO", or the "Company") an innovative royalty company building shareholder value by acquiring and developing high value assets in sustainable market environments, announce today that it has acquired a perpetual royalty stream linked to a deposit of high value, diversified natural resources, based in the country of Jamaica, with an initial focus on the permitting, production, and sale of Titanium Dioxide, Iron Ore and Vanadium.
The Jamaican-based resource deposit is part of a Special Exclusive Prospecting License (or "SEPL") that covers an area of approximately 25 permitted square kilometers. The Company is working with the current SEPL permit holder to begin the permitting for resource extraction and sale, which will translate into revenue to RMCO through its royalty structure. Furthermore, RMCO will immediately begin further ore testing to identify the potential presence of other high value elements such as niobium, rare earth elements and or other battery elements.
Surface Sample Collection
Black Volcanic Sands within the SEPL
"We are excited to enter into this investment to further develop this diversified resource-based and establish a long-term royalty stream. Our team and consultants have been evaluating and working on this opportunity for over a year and believe that the total resource deposit, alongside the types of resources present in the SEPL, is highly aligned with our overall strategy and outlook for certain minerals." stated Thomas Sauve, CEO of RMCO. Mr. Sauve continued, "We look forward to continuing working with the team on the ground to develop this project and position it for long term, responsible resource extraction, revenue generation and profitability. Additionally, we will be testing and analyzing the resource base for additional elements and compounds that could further scale the project or provide additional revenue sources. The analysis program conducted thus far showcases the potential for a world class asset in an area of the world that has historically demonstrated the ability to extensively mine, harvest and monetize its resources. The plan the team has presented provides the project an attractive opportunity to work with the local community, improve the environment and create well-paying jobs."
Of the identified minerals within the SEPL thus far, RMCO will work with mining companies to focus on the extraction and sale of an initial set of high value products, including:
- Titanium Dioxide and related compounds: Used in a variety of applications, such as the manufacturing of paints, plastics, paper, and for the aerospace, defense, medical, and steel industries;
- Vanadium Ore: Used for strengthening steel and is a component of rechargeable batteries; and
- Iron Ore: Used in a variety of industries and applications, from ironmaking and steelmaking to resource processing, in the form of magnetite and other related compounds.
Testing and Sample Gathering within the SEPL
The investment compliments RMCO's current investment into Ferrox Holdings and its Tivani Project, located in the Limpopo province of South Africa, where the Company holds an equity interest in the production of various resources and minerals, and is aligned with the Company's stated strategy of targeting investments in resources and minerals needed for energy production, energy storage, energy transition and modern infrastructure.
About Royalty Management Holding Corporation
Royalty Management Holding Corporation (NASDAQ:RMCO) is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in sustainable market environments. The business model focuses on acquiring and structuring cashflow and revenue streams around assets that can support the communities by monetizing the current existing cash flow streams while identifying transitionary cash flow from the assets for the future. For more information visit www.royaltymgmtcorp.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those that will be set forth in the "Risk Factors" section of the Company's registration statement and proxy statement/prospectus to be filed with the SEC. Copies will be available on the SEC's website, www.sec.gov. The information contained in this release is as of the date first set forth above. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact:
RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
[email protected]
Company Contact:
Thomas Sauve
Chief Executive Officer
(317) 855-9926
SOURCE: Royalty Management Holding Corporation