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Trident Royalties highlights progress made on several projects in its portfolio It is very encouraging to be able to report some significant progress at a number of our royalty companies,” said Trident chief executive Adam Davidson
Trident Royalties PLC (LON:TRR) said significant progress had been made by operators of several projects over which it holds royalties.
It highlighted developments at Thacker Pass, operated by Lithium Americas Corp, where results of a feasibility study targeting an initial 30,000-35,000 tonnes per annum lithium carbonate equivalent of capacity are expected by year end.
At the Lake Rebecca gold project, operator Apollo Consolidated Ltd announced further encouraging exploration, step-out and infill drilling results, providing the possibility for further royalty up-side when the project is put into production.
Royalty Round up, April 2021: the sector is flying
Large-tiers were the best performing subset of the market, up an average of 13.2%.
April 2021 has been a huge month for the mining royalty and streaming sector with the average share price up a massive 9.5%. An incredible 78% of mining royalty and streaming companies saw positive share price movement this month, as the market rallied behind the sector.
Large-tiers were the best performing subset of the market, up an average of 13.2%. Osisko Gold Royalties (TSE:OR) (↑14.8% 1-month & ↑12.9% 3-months) and Sandstorm Gold Ltd (TSE:SVC) (↑14.7% 1-month & ↑20.7% 3-months) were the best performing large-tier companies.
Osisko’s preliminary first quarter of 2021 (Q121) results were strong, with 19,960 attributable gold equivalent ounces produced during the first quarter. The company generated revenues of C$66.9mln (US$54.3mln) during the first quarter with a cash operating margin of around C$46.5mln (US$37.8mln). The company al
Trident Royalties mulling eleven potential deals across variety of metals
“Within the last quarter we ve seen material positive updates at Lake Rebecca, Spring Hill and the Western Australian Gold Royalty package tenements
Trident Royalties PLC (LON:TRR) said it has eleven active non-disclosure agreements in force currently with opportunities across mineral sands, lead, nickel, copper, gold, zinc, cobalt, potash, and iron ore.
The group added it had an unaudited cash balance of US$7.4mln as of 31 March 2021 plus a term sheet for a proposed debt facility of US$10mln with Tribeca Global.
Adam Davidson, Trident’s chief executive, said: The first quarter of 2021 was perhaps the most significant for Trident since its admission to trading on AIM less than a year ago, with the US$28mln acquisition of 60% of the Thacker Pass lithium royalty, coupled with a substantial equity raise.