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  • Elysee Development (ELC) has released financial results for Q1 2021 highlighted by a return to positive net income
  • Net income was C$53,271 in Q1 2021 compared to a loss of C$4,424,627 in Q1 2020
  • Net asset value per share was C$0.64 as of March 31, 2021
  • Holdings Wildpack Beverage Alberta and Green Impact Operating Corp. are planning to go public later this year
  • Elysee expects more of its private investments to list in Q2 2021
  • The company is deploying part of its cash position into ESG investments
  • Elysee Development is a diversified investment and venture capital firm focused on publicly traded companies in the natural resource sector
  • Elysee (ELC) is trading flat at $0.66 per share

Elysee Development (ELC) has released financial results for Q1 2021 highlighted by a return to positive net income.

Highlights from Q1 2021:

  • Net income of C$53,271 in Q1 2021 compared to a loss of C$4,424,627 in Q1 2020
  • Net investment income of C$155,255 in Q1 2021 compared to a loss of C$4,315,217 in Q1 2020
  • Net asset value per share was C$0.64 as of March 31, 2021 after paying a C$0.03 per share dividend during the quarter
  • A cash offer of C$2.65 per share of Battle North Gold and a cash offer of C$2.20 per share of TMAC Resources
  • A realized gain of C$543,000 on shares of Nextsource Materials

Cash Allocation

Elysee boosted its cash position to almost C$4 million by locking in gains on certain investments, offsetting the C$833,178 dividend payment in early March.

The company is deploying part of this cash into ESG investment themes such as renewable energy and energy metals.

Public Holdings

The most significant publicly traded equity positions held by Elysee at the end of the quarter were Kirkland Lake Gold (KL), Battle North Gold (BNAU), Dundee Precious Metals (DPM), Gold Terra Resource (YGT) and Integra Resources (ITR).

Private Holdings

U.S. Vanadium, a privately held U.S. producer of high-purity vanadium and electrolyte products for vanadium redox flow batteries, remains Elysee's largest single investment.

Elysee invested a further US$150,000 into USV during the quarter to enable USV to prepare for anticipated demand and higher prices for vanadium and vanadium pentoxide.

In Q1 2021, Elysee also invested C$270,000 in Wildpack Beverage Alberta and committed C$250,000 to Green Impact Operating Corp. Both of these companies are planning to go public later this year.

Subsequent to the quarter, Sierra Madre Gold & Silver (SM) and Full Metal Minerals (FMM) began trading in April.

Elysee expects more of its private investments to list in Q2 2021.

Elysee Development is a diversified investment and venture capital firm focused on publicly traded companies in the natural resource sector.

Elysee (ELC) is trading flat at $0.66 per share as of 10:25 am ET.

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