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Good research article and Q&A on TRR.
https://www.caesarsreport.com/reports/report-trident-royalties-a-new-royalty-company-with-a-different-approach/

https://www.caesarsreport.com/reports/report-trident-royalties-a-new-royalty-company-with-a-different-approach/

Also important to note that this isn't in some far flung warzone either. GWMO are operating in prime tier 1 gold country in Nevada

That's the plan. They intend on leaching the existing heaps in Q4 this year

Agreed. The risk/reward is very attractive at current valuation.

Well if they can produce gold from existing heaps by year end then GWMO should be valued at multiples of today's market cap. Great location to be operating in too. Just needs a bit more PR to get the message across to the wider market.

Evening MS. I think we can expect a broad range of commodities as per Adam's comments. Agree on the EV/battery outlook, and I'm happy that around a third of the portfolio will be dedicated to that growing thematic.
As we've previously mentioned, gold is hot right now so maybe not the optimum time to be picking up a producing gold royalty. Most of the players in the gold space are now well cashed up for the foreseeable. Probably some good potential deals for earlier stage assets though.
Exciting times, and Adam alluded to a busy next couple of months, so I suspect there's many irons in the fire at the moment.

Thanks Mullins. Will take a look

Hot sector* (autocorrect knows best!)

I certainly agree with copper. Don't know much about helium however.
I'd like to see TRR secure a nickel or nickel/cobalt royalty. Anglo Pac have a development stage asset royalty in Brazil, and Altius have a producing NSR over Voisey's Bay in Canada. With nickel prices low, and companies struggling to get finance to build develop the mines that will undoubtedly be needed in the future (EV's, electrification of the world, renewables etc etc). Looking about the space it's clear the likes of Clean Teq, HZM and more are all struggling to get project finance over the line, so there's an opportunity for TRR to take advantage, and secure an income stream in what will be a very got sector going forward.

Good news that TRR have finally got the name changed!

The problem is that everything at a project level is determined by Glencore. It's their call as the majority shareholder. A sale of the project would be up to them, as would any changes to the operation. The fact of the matter is that Glencore have budgeted an insignificant amount of cash towards ongoing development of the project. Between the two partners there's $1.3m earmarked for project development through 2020. That was the same for the two years preceding too. Split down the middle, just circa $700k per year commitment from a £25bn major tells you everything you need to know about how they view this project.

MisterPlod, give Adam a call if you're unsure. I'm sure he'd be able to tell you what their legal team found in their due diligence. I'm very happy with the response I received.

Third largest gold producer is Newmont, so discussions are ongoing with them about an earn in. Not sure about the other company in discussions. Could be Kalamazoo.
Either way, there's some really exciting developments coming in the near future.

I've had a reply from Adam. He states that they've had the license reviewed by counsel and Moxico's ownership of the Mimbula license/property is not in question. License was issued in 2017 and is in good standing with Zambian regulatory bodies. KCM has a good working relationship with Moxico.

It was clear from the the tone of his email that he's very excited about the opportunity they've landed.

I agree, it looks a fantastic deal.
For peace of mind I've emailed Adam to see whether he can add any colour about the Vedanta situation and whether there's any outstanding issues.
I'll report back if/when he replies.

No, you're right. The feed hasn't been updated

Very pleased with this morning's news. I like the acquisition of the copper royalty, and the longevity of the mine ensures some very good visibility on that income stream.
Adam has been on Proactive Investors this morning. Here's the interview:

https://youtu.be/sa1AH2CzG_Y

Trouble is they don't actually know how much cash will be coming in. Everything is dependent on the share price and what Shard sell the shares at.

I agree with you on that MS. That's the main reason most of my cash is in the precious metal royalty plays. I'd love TRR to enter that space, but worry that they may have to pay a hefty price in order to pick up what we'd probably see as an average royalty. That space is red hot at the moment. Will certainly be interesting to see what comes down the pipeline next.
Thanks for the link to TNX - will take a look.

I'd like to see TRR pick up a royalty on a copper producer. Many struggling with the low copper price right now, so probably in need of a bit of cash. TRR can provide in exchange for a royalty on production going forward. Taking advantage of distressed assets/companies who are struggling with the respective resource price is the most sensible way to ensure that's a valuable income stream when times are good.
Just look at what all those gold royalties are doing for the likes of Franco, Wheaton, Sandstorm etc right now. They bought many of those during the hard times for gold miners, and are reaping the rewards now.