We (Howard, Matt & Rodney) sit down with Lithium Royalty Corp (TSX: LIRC) CEO Ernie Ortiz and Libra Energy Materials (CSE: LIBR) CEO Koby Kushner for an update on lithium royalties and early-stage exploration.

Chapters 📖

(00:00) Introduction

Lithium Royalty Corp Highlights 🔑

• Cesium exposure: Through a 2% gross revenue royalty on Power Metals, LRC has upside to cesium—an emerging battery and grid material—with a 2026 start targeted.

• Core Lithium restart: Site visit validated the shift to the BP33 underground plan aimed at lower operating costs. Recent financing (~$50M) plus ~205kt of unencumbered offtake could support a restart when prices recover.

• Royalty valuation & buybacks: Following a royalty sale to Triple Flag (US$28M), LRC repurchased ~9% of its float at attractive levels. Ernie discusses P/NAV and IRR as core valuation frameworks, noting LRC trades at a discount to mature royalty peers as its assets advance toward cash flow.

• Optionality: Thacker Pass royalty litigation continues, with potential outcomes not yet included in analyst models. Timing for next legal step expected H2’26/’27.

• Market signals: Lithium inventories are drawing down, spodumene appears to be stabilizing, and ESS demand remains robust. Management sees improving fundamentals heading into 2026.

• Targeting methods tailored to Brazil: Due to weathering that removes lithium at surface, LIBR is using geochemical indicators and historic workings to refine drill targets.

• Quebec fieldwork launched: Two James Bay–area projects (including “Wegucci”) are being evaluated via helicopter-supported reconnaissance to confirm pegmatite scale.

• Ontario earn-in advancing: A major partner is funding a staged C$33M earn-in across three projects. Initial commitments have been met; assays pending.

• Athena Gold holding: LIBR holds ~44M shares and plans a measured approach to any future monetization aligned with drill milestones.

- Lithium Royalty Corp (TSX: LIRC) — diversified lithium royalty portfolio.

- USCF Investments — commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).

Have a question? Drop us an email: [email protected]

_________________________________________________

DISCLAIMER

Howard, Matt and Rodney are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com

Intro and outro audio credit: Jamie Klein