Trident Royalties announce interim financial results

Highlights

• Admitted to AIM on 2 June 2020 having raised £16 million (approxiamtely US$20 million), representing the largest equity placing associated with any new listing in any sector across the London markets in over 3 months, during a time of COVID-19 related lockdown restrictions.
• Board of Directors strengthened with the addition of Al Gourley as a Non-Executive Director in May 2020 and Helen Pein as a Non-Executive Director in September 2020.
• Since AIM admission, Trident has announced five transactions comprising a total of eight royalties:
  • A 1.5% free on board revenue royalty over part of the producing Koolyanobbing Iron Ore Operation in Western Australia.
  • A 1.25% gross revenue royalty over the Mimbula copper mine and associated tailings dumps in the Zambian Copperbelt, which is currently ramping up production (royalty rate drops to 0.3% upon repayment of the initial acquisition cost, and then further drops to 0.2% once the royalty has been paid on 575 000 t of copper).
  • A variable gold price royalty over production from the development stage Spring Hill Gold Project* in Australia’s Northern Territories.
  • A portfolio of four gold royalties over exploration and development stage projects* – including projects operated by proven explorers/developers such as Calidus Resources and Novo Resources – in Western Australia.
  • A 1.5% net smelter return royalty over the +1 million oz Lake Rebecca Gold Project* in Western Australia.
• The company continues to review a compelling pipeline of assets spanning various geographies and mining commodities, lending credence to the opportunity available to Trident.

*subject to FIBR approval in Australia.

Read the article online at: https://www.globalminingreview.com/finance-business/30092020/trident-royalties-announce-interim-financial-results/