TIDMTRR
RNS Number : 0379U
Trident Royalties PLC
21 November 2023
21 November 2023
Trident Royalties Plc
("Trident" or the "Company")
Completion of Copper-Rich Polymetallic Royalty Acquisition
Trident Royalties Plc (AIM: TRR, OTC: TDTRF) is pleased to
announce that all pre-conditions to the Antler Royalty acquisition
in the binding acquisition agreement ("Agreement") have now been
satisfied and that completion has occurred.
On 8 November 2023, the Company announced it had entered into an
Agreement to acquire a 0.9% net smelter return ("NSR") royalty (the
"Royalty") over New World Resources Limited's ("New World") Antler
copper project in Arizona, USA. The Royalty also includes a 0.45%
NSR over any ground subsequently acquired by New World within 5km,
which includes the recently announced mining rights purchased from
Newmont (1) . The Royalty was acquired for a total consideration of
A$11,000,000(2) .
Adam Davidson, Chief Executive Officer of Trident commented:
"The Antler Royalty is a substantial addition to our business
and represents the fifth royalty acquired by Trident in 2023.
Antler is an exciting polymetallic deposit and provides Trident
with exposure to a highly attractive suite of future-facing base
metals, including copper and zinc. The recently announced mining
rights acquisition by New World highlights the significant
potential for further growth in the resource and mine life.
"We are excited to add another royalty to the Trident portfolio
and continue to see significant deal flow and opportunities for
further value accretive growth."
References
(1) Source: New World Resources announcement dated 9 November
2023
(
https://newworldres.com/wp-content/uploads/AcquisitionOfAdditionalMineralRightsAtAntlerProject09Nov23.pdf
)
(2) Source: Trident Resources plc announcement dated 8
November
(
https://polaris.brighterir.com/public/trident/news/rns/story/xop679r
)
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Richard Hughes +1 (757) 208-5171 / +44 7967
589997
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Enzo Aliaj
------------------------------
Liberum Capital Limited (Joint Broker) www.liberum.com
Scott Mathieson / Cara Murphy +44 20 3100 2184
------------------------------
Stifel Nicolaus Europe Limited (Joint www.stifelinstitutional.com
Broker) +44 20 7710 7600
Callum Stewart / Ashton Clanfield
------------------------------
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com
Richard Greenfield / Charlie Bendon +44 20 3882 2868
------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Zoe Briggs
------------------------------
About Trident
Trident is a growth-focused diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
-- Building upon a royalty and streaming portfolio which broadly
mirrors the commodity exposure of the global mining sector
(excluding fossil fuels) with a bias towards production or
near-production assets, differentiating Trident from the
majority of peers which are exclusively, or heavily weighted,
to precious metals;
-- Acquiring royalties and streams in resource-friendly jurisdictions
worldwide, while most competitors have portfolios focused
on North and South America;
-- Targeting attractive small-to-mid size transactions which
are often ignored in a sector dominated by large players;
-- Active deal-sourcing which, in addition to writing new royalties
and streams, will focus on the acquisition of assets held
by natural sellers such as: closed-end funds, prospect generators,
junior and mid-tier miners holding royalties as non-core
assets, and counterparties seeking to monetise packages of
royalties and streams which are otherwise undervalued by
the market;
-- Maintaining a low-overhead model which is capable of supporting
a larger scale business without a commensurate increase in
operating costs; and
-- Leveraging the experience of management, the board of directors,
and Trident's adviser team, all of whom have deep industry
connections and strong transactional experience across multiple
commodities and jurisdictions.
The acquisition and aggregation of individual royalties and
streams is expected to deliver strong returns for shareholders as
assets are acquired on terms reflective of single asset risk
compared with the lower risk profile of a diversified, larger scale
portfolio. Further value is expected to be delivered by the
introduction of conservative levels of leverage through debt. Once
scale has been achieved, strong cash generation is expected to
support an attractive dividend policy, providing investors with a
desirable mix of inflation protection, growth and income.
Forward-looking Statements
This news release contains forward -- looking information. The
statements are based on reasonable assumptions and expectations of
management and Trident provides no assurance that actual events
will meet management's expectations. In certain cases, forward --
looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Trident believes the
expectations expressed in such forward -- looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may include
changes in market conditions, changes in metal prices, general
economic and political conditions, environmental risks, and
community and non-governmental actions. Such factors will also
affect whether Trident will ultimately receive the benefits
anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the forward --
looking statements. These and other factors should be considered
carefully and readers should not place undue reliance on
forward-looking information.
Third Party Information
As a royalty and streaming company, Trident often has limited,
if any, access to non-public scientific and technical information
in respect of the properties underlying its portfolio of royalties
and investments, or such information is subject to confidentiality
provisions. As such, in preparing this announcement, the Company
often largely relies upon information provided by or the public
disclosures of the owners and operators of the properties
underlying its portfolio of royalties, as available at the date of
this announcement.
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END
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