Trident Royalties (TRR), the diversified mining royalties company listed on AIM and the OTCQB, has acquired it’s fifth royalty in 2023.
Trident has purchased a copper-rich polymetalic resource from ASX-listed New World’s flagship Antler Project in Arizona. Purchased as a primary deal direct from New World, the terms of the deal are as follows.
• Royalty bought for $7M cash
• NSR of 0.9% over the current tenement
• NSR of 0.45% over any subsequent adjacent land acquired
• Includes a partial buyback
Antler is an advanced stage, high grade polymetallic deposit in Arizona, the 7th safest mining jurisdiction in the world. It is being built on private land which streamlines permitting.
In an interview with focusIR, CEO Adam Davidson explained that the Pre-Feasibility Study is expected to be published by the end of the year and the key features were seen by TRR before purchasing the royalty, with commencement of pre-production construction targeted for Q1 2025 and the project funded through to construction.
Average annual production of almost 33,000 tonnes is expected over years 2-11 of a 13-year mine life, with 50% revenue expected from copper and 38% from zinc.
As he ended the interview, Adam gave a very positive summary of 4 likely assets he expects to be coming onstream over the next 6 to 18 months.
These are Equinox Gold Greenstone with first gold in the first half of next year onwards.
The Dandoko acquisition made in August from B2Gold has the option to truck ore to be processed at their Fekola mine and could come on in the first 6 to 18 months. The La Preciosa silver royalty is flagged as H2 next year with an $8.2M milestone payment 12 months after 1st silver production, and TRR has an offtake on Sugar Zone due to come online 12 months after a 90,000-metre drill programme completes i.e. 2024.
Trident Royalties (TRR)