Lithium Royalty wins legal victory in dispute over revenue from Thacker Pass mine in Nevada – by Andrew Willis (Globe and Mail – August 17, 2023)

Lithium Royalty Corp. has won a court battle over a stake in one of the world’s largest lithium projects, the Thacker Pass mine in Nevada, setting the stage for a settlement analysts estimate could be worth more than $300-million.

Toronto-based Lithium Royalty, which has helped finance 32 mining projects, spent the past two years in a dispute with asset manager Orion Resource Partners over a royalty on future revenues from Thacker Pass, which is owned by Vancouver-based Lithium Americas Corp.

New York-based Orion acquired a royalty on Thacker Pass in 2013, providing upfront funding for the mine in exchange for approximately 1.75 per cent of all future revenue.

In a case before the Ontario Superior Court of Justice, Lithium Royal claimed it acquired an 85-per-cent interest in Orion’s stake in January, 2021, for $18.7-million. The Canadian company said that two months later, Orion reneged on the agreement by selling a 60-per-cent stake in the royalty to a rival company for $28-million.

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