# Lithium Royalty Corp. Announces Third Quarter 2025 Results Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/lithium-royalty-corp-announces-third-quarter-2025-results--784e05f1-475c-44bf-8752-9897b14349b1 Original source: https://money.tmx.com/en/quote/LIRC/news/4884057529551459/lithium-royalty-corp-announces-third-quarter-2025-results Publisher: tmx Original announcement: 2025-11-03T22:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lithium Royalty Corp. - Ticker: LIRC - Exchange: TSX - Region: Unavailable - Primary commodity: Lithium - Secondary commodities: Tungsten, Cesium, Silicon - Document categories: Resource update, Production, Agreement transaction - Extracted: 2026-09-12 11:30:38 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Lithium Royalty Corp. announced its third quarter 2025 results, reporting an 86% year-on-year increase in royalty revenue, driven by the commencement of production at the Tres Quebradas and Horse Creek projects. The company also acquired a 1.25% royalty on the Fox tungsten project and noted a significant resource expansion at the Moblan lithium project. Despite an increased net loss for the six-month period, the company maintains a strong cash position and anticipates enhanced organic growth as projects ramp up and lithium prices recover. Reasoning: Lithium Royalty Corp. reported strong Q3 royalty revenue growth driven by new projects commencing production and recovering lithium prices, alongside a new royalty acquisition and resource expansion, despite an increased net loss for the six-month period. - Positive factor: Strong royalty revenue growth \(86% YoY for Q3\) - Positive factor: Multiple projects commencing production \(Tres Quebradas, Horse Creek\) - Positive factor: Lithium prices recovering - Positive factor: Significant resource expansion at Moblan - Positive factor: Acquisition of a new royalty \(Fox tungsten project\) - Positive factor: Strong cash position and no debt - Negative factor: Net loss increased for the 6-month period - Negative factor: Adjusted EBITDA is negative - Negative factor: Lithium prices still lower year-over-year for Q3 Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 6 ## Classification and evidence **Production Commencement** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Zijin’s Tres Quebradas project commenced first production during the quarter. Evidence · text > Zijin held a commissioning ceremony to mark first production from its Tres Quebradas project in Catamarca, Argentina **Production Commencement** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Sinova Global’s Horse Creek mine started production in the quarter. Evidence · text > In September, Sinova Global commenced production at its Horse Creek quartz mine near Golden, British Columbia **Royalty Acquisition** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: LRC acquired a 1.25% NSR royalty on the Fox tungsten project. Evidence · text > In August, LRC acquired a pre-existing 1.25% net smelter return \(NSR\) royalty on the Fox tungsten deposit **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: Elevra Lithium announced a mineral resource expansion at the Moblan lithium project. Evidence · text > On August 25, Elevra announced a mineral resource expansion at the Moblan lithium project in Québec **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The updated MRE represents a 60% increase in contained lithium oxide within the measured and indicated categories. Evidence · text > The updated MRE represents a 60% increase in contained lithium oxide within the measured and indicated categories **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The updated MRE represents a 60% increase in contained lithium oxide within the measured and indicated categories. Evidence · text > The updated MRE represents a 60% increase in contained lithium oxide within the measured and indicated categories **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The MRE includes 13Mt of inferred mineral resource. Evidence · text > 13Mt of inferred mineral resource grading 1.06% Li₂O **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The Fox tungsten deposit has an existing resource from a 2018 NI 43-101 Technical Report. Evidence · text > The Fox tungsten deposit has an existing resource of 1.15Mt at 1.23% tungsten trioxide \(WO 3 \) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The technical and scientific information was reviewed and approved by Don Hains, P.Geo., a 'qualified person' as defined in NI 43-101. Evidence · text > The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 by Don Hains, P.Geo. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical and scientific information was reviewed and approved in accordance with NI 43-101. Evidence · text > The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-royalty-corp-announces-third-quarter-2025-results--784e05f1-475c-44bf-8752-9897b14349b1#fact-resource-facts-3) Moblan · lithium #### Identity - Project: Moblan - Commodity: lithium - Region: canada\_qc - Reported Region: Québec - Ticker: LIRC #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Don Hains - Resource group id: resource:acc33728532bb6e2efca #### Resource Data - Category: indicated - Tonnes: 108000000 - Grade: 1.21 - Grade Unit: % Li₂O - Cutoff Grade: 0.55 - Cutoff Unit: % Li₂O #### Prior Estimate - Resource Date: 2025-08-25 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-03T00:00:00.000Z Reasoning: The Moblan project reported a significant resource expansion, with a 60% increase in contained lithium oxide in the Measured and Indicated categories. - Positive factor: Significant resource expansion - Positive factor: 60% increase in contained lithium oxide in M&I - Positive factor: Positions project as one of largest hard rock lithium deposits in Americas Evidence · text > The updated mineral resource estimate \(MRE\) comprises 108 million tonnes \(Mt\) of measured and indicated mineral resource grading 1.21% Li₂O, and 13Mt of inferred mineral resource grading 1.06% Li₂O, both at a 0.55% Li₂O cut-off grade. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-royalty-corp-announces-third-quarter-2025-results--784e05f1-475c-44bf-8752-9897b14349b1#fact-resource-facts-4) Moblan · lithium #### Identity - Project: Moblan - Commodity: lithium - Region: canada\_qc - Reported Region: Québec - Ticker: LIRC #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Don Hains - Resource group id: resource:da5b3292cf7dc92d1c68 #### Resource Data - Category: inferred - Tonnes: 13000000 - Grade: 1.06 - Grade Unit: % Li₂O - Cutoff Grade: 0.55 - Cutoff Unit: % Li₂O #### Prior Estimate - Resource Date: 2025-08-25 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-03T00:00:00.000Z Reasoning: The Moblan project's inferred resource also increased as part of the overall resource expansion. - Positive factor: Resource expansion - Negative factor: Inferred category is speculative Evidence · text > The updated mineral resource estimate \(MRE\) comprises 108 million tonnes \(Mt\) of measured and indicated mineral resource grading 1.21% Li₂O, and 13Mt of inferred mineral resource grading 1.06% Li₂O, both at a 0.55% Li₂O cut-off grade. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-royalty-corp-announces-third-quarter-2025-results--784e05f1-475c-44bf-8752-9897b14349b1#fact-resource-facts-5) Fox · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: Fox - Commodity: tungsten - Region: canada\_bc - Reported Region: British Columbia, Canada - Ticker: LIRC #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Don Hains - Resource group id: resource:f6422cb6802c8f679acb #### Resource Data - Tonnes: 1150000 - Grade: 1.23 - Grade Unit: % WO₃ - Cutoff Grade: 0.175 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2018-04-09 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2018-04-09T00:00:00.000Z #### Dates - Event date: 2025-11-03T00:00:00.000Z Reasoning: The Fox tungsten project has a historical resource with high grades, providing context for the royalty acquisition, but it is not a new estimate. - Positive factor: High tungsten grades - Positive factor: Critical mineral - Negative factor: Historical estimate - Negative factor: Cut-off grade range \(0.175% to 0.45%\) Evidence · text > The Fox tungsten deposit has an existing resource of 1.15Mt at 1.23% tungsten trioxide \(WO 3 \) at a range of cut-off grades between 0.175% to 0.45% #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.6 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.