Trident Royalties PLC. Inaugural Revenue under Gold Offtake Streams (4658Y)
January 14 2022 - 2:00AM
UK Regulatory
TIDMTRR
RNS Number : 4658Y
Trident Royalties PLC.
14 January 2022
14 January 2022
Trident Royalties Plc
("Trident" or the "Company")
Inaugural Revenue Received under Gold Offtake Streams
Trident Royalties Plc (AIM:TRR), the growth-focused mining
royalty and streaming company, is pleased to announce that
following the completion of the acquisition of producing gold
offtake streams (the "Portfolio") announced on 11 January 2022,
Trident has generated its inaugural cash flow under the
streams.
Trident acquired 1,858 ounces of gold and subsequently sold for
a margin of $30.68/oz, resulting in total cash flow of $57,001 and
a NSR equivalent margin of 1.69%(1) for the batch, well in excess
of Trident's long term base case assumption on acquisition of the
Portfolio.
Going forward, Trident will update shareholders of cumulative
cash flow generated under the offtakes in the Company's quarterly
activities announcements.
Adam Davidson, Chief Executive Officer of Trident commented:
"It is pleasing to note that deliveries to Trident under the
contracts have now commenced, with this delivery being the first of
multiple deliveries and regular sales expected to occur on a weekly
basis going forward.
"The acquisition of the Portfolio provides Trident with
immediate revenue, underpinned by a portfolio of high-quality
producing gold projects which significantly enhance the scale and
diversification of Trident's revenue base. Trident is well
positioned for future growth with nine cash flowing assets
complementing our portfolio of advanced and development stage
royalties, most notably the Thacker Pass lithium royalty. The
combination of increased cashflow and our newly established debt
facility, provide Trident with ample access to capital to pursue
additional accretive transactions without the near-term requirement
to access equity markets."
Notes
1. Margin of $30.67/oz divided by realised gold sales price of $1,820/oz
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Paul Smith +1 (757) 208-5171/ +41
79 947 1348
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison / +44 020 7383 5100
Samuel Littler
--------------------------------------------------------
Tamesis Partners LLP (Financial Adviser www.tamesispartners.com
& Broker) +44 203 882 2868
Richard Greenfield
--------------------------------------------------------
St Brides Partners Ltd (Financial PR www.stbridespartners.co.uk
& IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
--------------------------------------------------------
Forward-looking Statements
This news release contains forward--looking information. The
statements are based on reasonable assumptions and expectations of
management and Trident provides no assurance that actual events
will meet management's expectations. In certain cases,
forward--looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Trident believes the
expectations expressed in such forward--looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may include
changes in market conditions, changes in metal prices, general
economic and political conditions, environmental risks, and
community and non-governmental actions. Such factors will also
affect whether Trident will ultimately receive the benefits
anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the
forward--looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on
forward-looking information.
Third Party Information
As a royalty and streaming company, Trident often has limited,
if any, access to non-public scientific and technical information
in respect of the properties underlying its portfolio of royalties
and investments, or such information is subject to confidentiality
provisions. As such, in preparing this announcement, the Company
often largely relies upon information provided by or the public
disclosures of the owners and operators of the properties
underlying its portfolio of royalties, as available at the date of
this announcement. No content of any third-party website nor the
content of any website accessible from hyperlinks on the Company's
website (or any other website) is incorporated into, or forms part
of, this Announcement.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States.
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