Trident Royalties completes $76m in acquisitions over HY1

Trident Royalties shares climbed 5.3% to 48.7p in early morning trading on Tuesday, after the company announced $76 million in acquisitions over HY1 2022.

The mining royalty and streaming firm noted its largest transaction to date in its acquisition of gold offtake contracts for $69.7 million.

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Trident Royalties confirmed royalty and offtake receipts of $7.8 million generated from its portfolio, inclusive of gold offtake assets, Mimbula copper royalty and Koolyanobbing iron ore royalty.

The group mentioned progress across its portfolio, with Koolyanobbing resuming iron ore sales, along with first gold poured at Ruby Hill and Santa Luz, and a “significant” resource update at its Rebecca gold project.

Meanwhile, Trident Royalties highlighted the continued advancement of Thacker Pass, with Lithium Americas confirming post-period end that it would commence early works production and release a defined feasibility study in 2022, pending a positive Court of Appeals ruling.

“Trident has continued to excel amid a difficult macro-economic environment. The portfolio is performing well, with solid progress made across a number of assets. I am pleased with the acquisitions we made during the period, most notably a portfolio of cash generative gold offtakes which range across a number of jurisdictions, assets and operators,” said Trident Royalties CEO Adam Davidson.

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“Looking forward to the second half, Trident is well positioned to continue our record of consistent growth. Our strong balance sheet will enable us to execute more value accretive transactions and further reduce our cost of capital.”

“A final permit decision at the Thacker Pass lithium project is expected during H2, which will transform Trident’s anticipated future revenue profile and battery metals exposure. I look forward to updating the market on this and other developments over the coming months.”

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