RE: TRR27 Jan 2022 07:15
Adam Davidson, Chief Executive Officer and Executive Director of Trident commented:
"Like Thacker Pass - over which Trident holds an existing Gross Revenue Royalty - Sonora is a globally significant lithium asset which is anticipated to be the next meaningful North American lithium mine, with early construction works already underway and first production anticipated for the second half of 2023. With the potential to have both the Sonora and Thacker Pass royalties in the Trident portfolio, shareholders in Trident would have exceptional lithium exposure covering Tier 1 assets, both targeting very near-term production, and therefore cash flows to Trident, in 2023 (assuming completion occurs) and 2024 respectively.
I want to highlight that this transaction showcases Trident's creative energy and ability to work collaboratively with counterparties. Working jointly with the Estate's advisors, Trident has structured a transaction that secures the right to acquire a Tier 1 royalty while avoiding exposure to any associated litigation risk. By the time Trident's full acquisition consideration is paid, construction at Sonora should be well advanced and cash flow imminent, with revenue visibility long into the future."