 has come to an agreement with Sutter Operations Corporation to acquire a net smelter return royalty over production from the Lincoln gold mine in California.){kind=link}
The price of the deal has been confirmed at $2.5m
Trident Royalties (LON:TRR) has come to an agreement with Sutter Operations Corporation to acquire a net smelter return royalty over production from the Lincoln gold mine in California.
Seduli intends to utilise the royalty sale proceeds to finalise the restart of Stage 1 production at the Lincoln underground gold mine..
Production of 220 tonnes-per-day was expected to kick off this year, targeting about 20,000-plus ounces of gold per year.
The project was permitted for stage-two production of up to 1,000 tonnes-per-day, anticipated to commence, subject to funding, immediately following successful completion of stage one.
Adam Davidson, Chief Executive Officer of Trident commented: “The Lincoln Gold Mine represents a highly compelling investment opportunity for Trident, and we are delighted to be supporting Seduli as it restarts mining and gold production in the coming months. The Mother Lode is a mineralised zone of international fame and the discovery of an orebody with an average grade of 9.3g/t, which has not been drilled beyond 150m, offers exceptional upside once in production. With this in mind, we believe that Lincoln will reveal gold ounces orders of magnitude larger than the existing NI 43-101 MRE, subject to the required exploration work and technical studies.”
“Acquiring a new near-term cash generative gold royalty also aligns well with our over-arching strategy to assemble a diversified royalty portfolio, and this new addition is expected to contribute to our two existing paying royalties, in iron ore and copper, in the near-term.”
Trident Royalties are mining royalties and streaming company with a diverse range of royalties covering precious, base and battery metals.
Having presented at the December UK Investor Magazine Virtual Investor Conference, Trident Royalties returned in May to update investors of recent progress at the company.
Trident Royalties are on a path to achieving critical mass with robust pipeline of deals having already acquired 12 mining royalties.
The Trident Royalties share price is up by 1.18% during the morning session on Tuesday.