Royalty Management Holding Corporation (NASDAQ: RMCO) is experiencing a substantial surge in its valuation on the US stock indices today. In the latest session assessment, the value of Royalty Management stock has surged by an impressive 52.76%, reaching $3.04 in trading. This upswing in RMCO stock can be attributed to the initiation of production by its holding company at one of its operational sites.
Today, Royalty Management (RMCO announced that Ferrox Holdings Ltd., an investment holding under the Company’s purview, has officially commenced production of titanium ferrite at its Tivani operating site. The initiation of production marks a significant milestone for Ferrox, aligning with its objectives of commencing the initial production of run-of-mine titanium ferrite from the Tivani site.
The dedicated efforts of the team have culminated in the achievement of this milestone ahead of the scheduled year-end of 2023, a goal that has been successfully met. The financial backing provided by Royalty Management played a pivotal role in facilitating Ferrox’s success in achieving this outcome, concurrently positioning the company for sustained success in the present market landscape.
Ferrox is now directing its efforts towards expanding production scale and enhancing in-country production processes, not only benefiting shareholders but also contributing to local community welfare through job creation. Ferrox holds exclusive rights to the high-quality Tivani mining deposit situated in the Limpopo Province of South Africa.
Preceding the commencement of production, Ferrox meticulously undertook preparations, studies, and development, investing over $70 million in the infrastructure, processing equipment, and mine development of the asset. The Tivani project’s primary focus for Ferrox includes the production of titanium metal, ilmenite concentrate, ferro titanium, titanium dioxide, pig iron, and magnetite concentrate. The company boasts a NI 43-101 compliant resource, revealing 471 million tons of titaniferous magnetite.
Royalty Management remains actively involved in pursuing investment and development opportunities across various industries. With a distinct emphasis on emerging and transitional sector prospects, the Company is establishing a diversified portfolio encompassing royalties, rents, and revenue shares. The initiation of production by Ferrox serves as a noteworthy addition to RMCO’s overarching objectives.
