Trident Royalties (AIM:TRR) is a growth-focused diversified mining royalty and streaming company, providing investors with exposure to a mix of battery metals, precious and bulk metals.
Adam Davidson, CEO presented and took live questions at our focusIR/London South East Natural Resources webinar, our final event of the year.
Adam explained that having launched the business with the acquisition of a single iron ore royalty, it has since diversified to 21 royalties with 40% of the portfolio in lithium, 30% in gold and 19% in copper.
This has been a successful year for TRR with the acquisition of 5 new royalties, some of which Adam expects to be very profitable. And he outlined the royalties which will start paying out in 2024.
He was very pleased to have secured a $40m revolving credit facility last week and explained in detail how this lowered the cost of capital, allowing TRR to make more acquisitions.
The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms which reflect single asset risk compared with the lower risk profile of a diversified, larger scale portfolio.
The share price is currently around 36p, the market cap is £105m and brokers Liberum have a target price of 77p.