Trident Royalties PLC - London-based mining royalty & streaming company - Judge of the Ontario Superior Court of Justices grants motion to stay lawsuit against Trident by Lithium Royalty Corp, effectively dismissing the litigation.
On February, Lithium Royalty applied against Orion Resource Partners alleging that there was an oral agreement which formed a binding agreement for the purchase and sale of the Thacker Pass Royalty.
As Trident was the owner of a 60% interest in Thacker Pass, the company was named as a third party to the litigation at the end of April.
"The order by the Ontario Supreme Court of Justice found, inter alia, that no action of Trident resulted in it acceding to the jurisdiction of the Ontario Supreme Court and there were no other reasons to compel it to participate in the litigation between LRC and Orion in Ontario," the company states.
On Tuesday, Trident noted that Ramelius Resources has taken effective control of Apollo Consolidated Ltd due to now owning a 66% interest in the company.
Trident holds a 1.5% net smelter return royalty over Apollo's Lake Rebecca gold project in Australia.
Current stock price: 38.00 pence
Year-to-date change: down 5.0%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Trident Royalties (TRR)