Royalty Management’s investment in Ferrox provides production, revenue guidance

Royalty Management announced that Ferrox Holdings Ltd., an investment holding of the Company, has provided production and revenue guidance from its Tivani mining project located in the Limpopo Province of South Africa. Incorporated in 2006, Ferrox Holdings Ltd. is a British Virgin Island company that owns the Tivani Mining Deposit, its flagship asset that contains deposits of Titanium, Iron and Vanadium, from which Ferrox has commenced production and concentration of these ores to produce Ilmenite concentrate, Ferro Titanium and Magnetite Concentrate, with anticipation in the future to produce Vanadium Pentoxide, Ferro Vanadium, Titanium Metal, and other derivative products. After conducting a reserve study that supported the economic feasibility of the mining operation, Ferrox commenced a few years ago the investment into the mining infrastructure at Tivani to support the extraction and processing of the ores into salable products for a variety of interested customers. With extraction and concentration started, Ferrox is now focused on increasing production and identifying key offtake and sales partners for the concentrated products out of Tivani. Upon completion of Ferrox’s investment into its crushing and concentration plant, the company anticipates it to be able to increase production and sales to approximately 50,000 tons of run-of-mine ores per year in 2025 and approximately $8 million in annualized revenue, continuing to expand thereafter as the company continues its investment into the deposit and production. Terry Duffy, Chairman of Ferrox Holdings stated, “We have systematically approached this project with steps of progress and execution, starting with a reserve study, to investment into mining infrastructure and equipment, and now to ore production and concentration. With additional capital investment on our part into the expansion of the crushing and concentration plant, we can position the Tivani project to be a world-class operation with significant production and revenues coming from this operation”.