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EMX is probably the nearest in terms of achieving critical mass. Their royalty income is around $5m per annum, but they're in that sweet spot where some development stage royalties are just about to start turning on the tap in terms of income for EMX.
Presently they're valued at around $210m. They've got three producing royalties and a large pipeline of exploration/development projects at varying stages. They've also got $50m in the bank, which helps..and they've earmarked most of that for the purchase of already-producing royalties.
I think if TRR can get to the stage where they've got a similarly diversified income (let's say $5m+), and a clear pipeline of development stage assets coming through (ideally with the cream of the industry - where you know it'll get developed and to production phase), then I see no reason why we couldn't see a similar valuation to EMX. Certainly possible within 18 - 24 months I'd say, given the desperate state of the base metal space.

Another video of Adam discussing the history and objectives of the company

https://youtu.be/zN3CASI7Jzs

I agree it offers very good value right now. Excited to see what projects Adam and team can bring in alongside the iron ore royalty. Iron ore prices of course going very well at the moment.
I see TRR as potentially an early stage APF or Altius, with a young fresh management team keen to make a mark. I'm a fan of APF, but I think TRR can offer fresh ideas and an ability to communicate with the UK market - something that APF has struggled with. I think the royalty model will become more accepted in the UK as a safer, more diversified way to gain exposure to the mining sector. The Canadian and US markets have proved that investors appreciate the derisked cashflow and margins that the royalty and streaming companies can enjoy.
It's going to be fun to watch TRR develop into a player in the royalty space, and the potential ASX listing could be a very significant move, given the appetite for mining there, yet the lack of any royalty and streaming listed entities.

Nice coverage in the UK national papers

https://www.express.co.uk/news/uk/1291208/uk-gold-mines-projects-wales-scotland-uk-mining

Well it appears the selling related to JT's divorce settlement is now finished.
Shouldn't be long before we see APF taking advantage of the cash-constrained base metal industry. Precious metal royalty companies in the US/Canada are reaping the rewards of what they'd sown in the quiet periods beforehand. Expecting the likes of APF, TRR, Altius to do the same and pick up some royalties and streams that'll serve them well in a base metal bull market.

Thanks for posting.
Great to see, as it's vitally important Trident get the word out as effectively as they can. The royalty and streaming model is somewhat unloved and misunderstood this side of the Atlantic, so it's largely up to them to open investors eyes. I'd like to see them putting themselves about in North America too.
As I said yesterday, the prospect of listing on the ASX could be what really sets this company apart - and that will undoubtedly get support from UK, Aussie and North American/Canadian investors. There's some very rich pickings on the ASX access the mining spectrum

Yes I too think the future should be very bright here. Especially like the future possibility of dual listing on the ASX. Many miners on the ASX, yet no royalty play. Contrast that with the TSX and you'll see the scale of opportunity for TRR. I think the Aussies will get behind TRR 100%.

Indeed. News on the closing of the Elizabeth Hill deal must be imminent too...

Amazes me there isn't more interest here.
The company is well cashed up, has some very significant silver assets including one past producing high grade mine.
There's strategic exposure to iron ore, located adjacent to some of the world top producers. Copper and gold exposure too at Donovan 2.
The £2m market cap is quite frankly bonkers.

I agree. It's only a matter of time before this really moves

I did exactly that. No brainer, with a solid divi and very sizeable war chest to do deals with.
Keen to see how they intend to replace Kestrel as it comes towards the end of its life. Must be some attractive potential deals on the table in this environment

Nevada is a first class mining district for precious metals. I like that GWMO are building a presence there.

They've picked up a good asset there. It is one that was in Ely Gold Royalty's stable.
Here's more details on it:

https://www.google.com/url?sa=t&source=web&rct=j&url=https://elygoldinc.com/assets/img/projects/fact-sheets/Olympic_FactSheet.pdf&ved=2ahUKEwjR7YyB6sbpAhWbURUIHYvkA-EQFjAAegQIChAB&usg=AOvVaw1-IyTtx7nU3Zr4ZMOzUc0z

Looking very good. No brainer exposure to silver - which is rampant at the moment, and has a lot of catching up to do.
Not many companies on AIM with worthwhile exposure. UFO by far the best, and very very cheap

Possibly. I think its more likely due to this being very cheap, with traders and investors on the lookout for cheap precious metal plays

Any news on the silver projects, especially the finalisation of the Elizabeth Hill silver mine and this will go metal. Silver is rallying hard, and investors are starting to wake up to the fact they need precious metal exposure over the next 6-12 months at least. UFO offers silver exposure in spades.

Well, PHE have approved it

Abbott, the US pharmaceutical company has had its antibody test approved by PHE, and have said they can supply 5 million tests per month..

Reuters were quick to pick up the Telegraph article. It's on the front page of tomorrow's paper.

https://news.trust.org/item/20200513195147-d9k2n/