Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Tamesis Partners has published a new research note on:
Trident Royalties Plc.
"Trident’s share price is currently trading on an unrisked and risked PNAV of 0.51x and 0.63x, and we forecast revenue to grow by a CAGR of 18% over the next 5 years. We continue to feel our Price Target of 75p is conservative as we look forward to more transactions in 2024. "
“Lithium Americas has received a conditional commitment (“Conditional Commitment”) from the U.S. Department of Energy (“DOE”) for a $2.26 billion loan under the Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program (the “Loan”) for financing the construction of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tonnes per year (“tpa”) of battery grade lithium carbonate (“Phase 1”). The expected Loan plus General Motors Holdings LLC (“GM”) strategic investment are expected to provide the vast majority of the capital necessary to fund Phase 1.”
That is an extract from the announcement. This is obviously very good news for TRR’s royalty as the project is greatly derisked with all phase 1 financing sorted.
Lithium Americas Receives Conditional Commitment for $2.26 Billion ATVM Loan from the U.S. DOE for Construction of Thacker Pass
I have copied this from AmorAmor77's posting on CTL. I hope he/she does not mind but it might be of interest to readers here.
https://stockhead.com.au/resources/high-voltage-lithium-market-recovery-narrative-picks-up-perfect-storm-brewing/?utm_medium=email&utm_campaign=Stockhead%20Morning%20Newsletter-03-13-2024&utm_content=httpsstockheadcomauresourceshighvoltagelithiummarketrecoverynarrativepicksupperfectstormbrewing&utm_medium=email&utm_campaign=Morning%20email%20Thursday%20March%2014&utm_content=Morning%20email%20Thursday%20March%2014+CID_94cb727a3efb73de1401d881721fbe2e&utm_source=Campaign%20Monitor&utm_term=High%20Voltage%20Lithium%20market%20recovery%20narrative%20picks%20up%20Perfect%20storm%20brewing
Https://www.mining.com/web/the-big-lithium-short-gets-dangerous-on-lower-supply-outlook/
Thacker Pass
https://www.mining.com/web/us-to-offer-2-billion-loan-for-lithium-americas-project-in-nevada/
A useful link
https://tradingeconomics.com/commodity/lithium
Https://www.mining.com/web/after-massive-bust-global-lithium-market-shows-signs-of-life/
TRR Gold Los Filos is an operating mine in Mexico. TRR has off-take for 50% of the gold produced at Equinox Gold’s Los Filos Gold Mine up to 1,100,000 delivered ounces.
Trident owns an off-take for 35% of the gold produced at Equinox Gold’s Santa Luz, Riacho Dos Machados (“RDM”), and Fazenda Mines in Brazil up to 658,333 delivered ounces.
Allied Gold Offtake.
Trident owns an offtake for 50% of the gold produced at Allied Gold’s Bonikro Mine with no production or time cap on delivered ounces.
Trident owns an offtake for 100% of the gold produced, less any applicable streams, at Blyvoor Gold’s Blyvoor Gold Mine up to 2,700,000 million delivered ounces.
Trident owns an offtake for 25% of the gold produced at Victoria Gold’s Eagle Gold Mine up to 1,111,500 million delivered ounces.
Trident owns an offtake for a fixed number of ounces of gold produced from i-80’s Ruby Hill, McCoy Cove & Granite Creek. Trident is entitled to delivery of 37,500 oz of gold per annum in 2022 - 2023, with 40,000 oz per annum due between 2024 – 2028.
Trident owns a 1.5% Net Smelter Royalty (“NSR”) covering the entire Lincoln Gold Project which sits in the centre of the Californian Mother Lode which has historically produced over 13Moz of gold including 3.4Moz from areas directly covered by the NSR.
Trident owns a 0.25% free on board (“FOB”) revenue royalty over the producing Kwale Mineral Sands Project in Kenya.
Trident owns a 1.25% Gross Revenue Royalty (“GRR”) over all copper produced from the Mimbula Mine in Zambia, which is operated by Moxico Resources Plc.
Trident owns a 1.5% Free on Board (“FOB”) revenue royalty covering part of the producing Koolyanobbing Iron Ore Operation in Western Australia.
TRR Assets. https://tridentroyalties.com/projects#scrolled
As reported by Reuters no less!
LONDON (Reuters) - British defence minister Grant Shapps said on Wednesday there were no implications for Britain's ability to fire nuclear weapons from an "anomaly" during the test of its nuclear missile system last month.
"An anomaly did occur, but it was event specific and there are no implications for the reliability of the wider Trident (LON:TRR) missile systems and stockpiles," Shapps said in a written statement to parliament.
"Nor are there any implications for our ability to fire our nuclear weapons, should the circumstances arise in which we need to do so ... the government has absolute confidence that the UK's deterrent remains effective, dependable, and formidable."
TRR webinar at 2pm today which is always an hour well spent as Adam gives a full update and will answer any questions.
My buy shows as a sale but hey ho. GLA
Newbie to this share but agree the update was impressive but yet sincere. Have purchased a few this morning and hope to see this move in the right direction over the next few months. GLA
I’ve invested more on the back of this update. I think the shares are clearly undervalued. The prevention was honest and Adam Davidson clearly indicated such. Great potential and the royalties will grow considerably.
BRV Capricorn
A very encouraging update confirming good progress across the board. No doubt Adam will be giving a presentation and I look forward to that. The fact that Equinox’s Greenstone project will start to produce in a few months is a highlight as this will be a very large gold mine in Canada
Expect a 15p rise
BRV Capricorn
Https://www.mining.com/lithium-market-transition-comes-with-delays-layoffs-and-mas-wood-mac/
Rare Earths are another possibility. Definitely the bottom of the market.
It's a difficult product to understand and there are high barriers to entry but for the right producer it has appeal.
I know RBW are raising the remainder of their project equity finance this year, its similar to a royalty in that a %age of the asset is owned not the listed parent equity.
There is also Sierra Verde in Brazil, unlisted, liw cost producer.
Downside, I suppose, is product is not open market sellable, same with Uranium, it needs to be sold into the supply chain for processing and use. You cannot take 1% and sell it to anyone.
Karora Resources on TSX ...KRR is producing Gold & Nickel at it's Australian operations and increasing. https://www.karoraresources.com/