TRR.L Share News (TRR)

Trident Royalties PLC - London-based mining royalty and streaming company - Notes Lithium Americas makes positive progress at Thacker Pass lithium project in the US state of Nevada. Trident holds 60% interest in gross revenue royalty in the project.

The Thacker Pass mineral resource estimate increases to 13.7 metric tonnes of lithium carbonate equivalent, grading 2,231 parts per million lithium of measured and indicated resources, and to 4.4 metric tonnes of lithium carbonate equivalent, grading 2,112 parts per million lithium of inferred resources.

Now considering optimised mine plan targeting Phase 1 capacity of 40,000 tonnes per annum of lithium carbonate, representing 30% increase on Phase 1 target in pre-feasibility study, and Phase 2 capacity of 80,000, up 30% again.

"This latest update from Lithium Americas more than doubles to the lithium resource estimate for Thacker Pass which has a very positive read through for Trident's potential future earnings from this project, which is the largest lithium reserve in the United States," says Chief Executive Adam Davidson.

Current stock price: 33.50 pence, up 4.7% on Friday

Year-to-date change: down 16%

By Josie O'Brien; josieobrien@alliancenews.com

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