Trident Royalties - Completion of Copper Royalty Acquisition

Trident Royalties

21/11/2023 07:00

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RNS Number : 0379U  Trident Royalties PLC  21 November 2023

21 November 2023

 

Trident Royalties Plc

("Trident" or the "Company")

 

Completion of Copper-Rich Polymetallic Royalty Acquisition

 

Trident Royalties Plc (AIM: TRR, OTC: TDTRF) is pleased to announce that all
pre-conditions to the Antler Royalty acquisition in the binding acquisition
agreement ("Agreement") have now been satisfied and that completion has
occurred.

 

On 8 November 2023, the Company announced it had entered into an Agreement to
acquire a 0.9% net smelter return ("NSR") royalty (the "Royalty") over New
World Resources Limited's ("New World") Antler copper project in Arizona, USA.
The Royalty also includes a 0.45% NSR over any ground subsequently acquired by
New World within 5km, which includes the recently announced mining rights
purchased from Newmont(1). The Royalty was acquired for a total consideration
of A$11,000,000(2).

 

Adam Davidson, Chief Executive Officer of Trident commented:

 

"The Antler Royalty is a substantial addition to our business and represents
the fifth royalty acquired by Trident in 2023.  Antler is an exciting
polymetallic deposit and provides Trident with exposure to a highly attractive
suite of future-facing base metals, including copper and zinc. The recently
announced mining rights acquisition by New World highlights the significant
potential for further growth in the resource and mine life.

 

"We are excited to add another royalty to the Trident portfolio and continue
to see significant deal flow and opportunities for further value accretive
growth."

 

References

(1  )Source: New World Resources announcement dated 9 November 2023

(https://newworldres.com/wp-content/uploads/AcquisitionOfAdditionalMineralRightsAtAntlerProject09Nov23.pdf
(https://newworldres.com/wp-content/uploads/AcquisitionOfAdditionalMineralRightsAtAntlerProject09Nov23.pdf)
)

(2 )Source: Trident Resources plc announcement dated 8 November

(https://polaris.brighterir.com/public/trident/news/rns/story/xop679r
(https://polaris.brighterir.com/public/trident/news/rns/story/xop679r) )

** Ends **

Contact details:

 

 Trident Royalties Plc                             www.tridentroyalties.com

 Adam Davidson / Richard Hughes                    +1 (757) 208-5171 / +44 7967 589997
 Grant Thornton (Nominated Adviser)                www.grantthornton.co.uk

                                                 (file:///C%3A/Users/afdav/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/GCSQ6WT9/www.grantthornton.com)
 Colin Aaronson / Samantha Harrison / Enzo Aliaj

                                                   +44 020 7383 5100
 Liberum Capital Limited (Joint Broker)            www.liberum.com (http://www.liberum.com)

 Scott Mathieson / Cara Murphy                     +44 20 3100 2184
 Stifel Nicolaus Europe Limited (Joint Broker)     www.stifelinstitutional.com (http://www.stifelinstitutional.com)

 Callum Stewart / Ashton Clanfield                 +44 20 7710 7600
 Tamesis Partners LLP (Joint Broker)               www.tamesispartners.com (http://www.tamesispartners.com)

 Richard Greenfield / Charlie Bendon               +44 20 3882 2868
 St Brides Partners Ltd (Financial PR & IR)        www.stbridespartners.co.uk (http://www.stbridespartners.co.uk)

 Susie Geliher / Zoe Briggs                        +44 20 7236 1177

 

 

 

About Trident

 

Trident is a growth-focused diversified mining royalty and streaming company,
providing investors with exposure to a mix of base battery, precious, and bulk
metals.

Key highlights of Trident's strategy include:

 

 ·             Building upon a royalty and streaming portfolio which broadly mirrors the
               commodity exposure of the global mining sector (excluding fossil fuels) with a
               bias towards production or near-production assets, differentiating Trident
               from the majority of peers which are exclusively, or heavily weighted, to
               precious metals;

 ·             Acquiring royalties and streams in resource-friendly jurisdictions worldwide,
               while most competitors have portfolios focused on North and South America;

 ·             Targeting attractive small-to-mid size transactions which are often ignored in
               a sector dominated by large players;

 ·             Active deal-sourcing which, in addition to writing new royalties and streams,
               will focus on the acquisition of assets held by natural sellers such as:
               closed-end funds, prospect generators, junior and mid-tier miners holding
               royalties as non-core assets, and counterparties seeking to monetise packages
               of royalties and streams which are otherwise undervalued by the market;

 ·             Maintaining a low-overhead model which is capable of supporting a larger scale
               business without a commensurate increase in operating costs; and

 ·             Leveraging the experience of management, the board of directors, and Trident's
               adviser team, all of whom have deep industry connections and strong
               transactional experience across multiple commodities and jurisdictions.

 

The acquisition and aggregation of individual royalties and streams is
expected to deliver strong returns for shareholders as assets are acquired on
terms reflective of single asset risk compared with the lower risk profile of
a diversified, larger scale portfolio. Further value is expected to be
delivered by the introduction of conservative levels of leverage through debt.
Once scale has been achieved, strong cash generation is expected to support an
attractive dividend policy, providing investors with a desirable mix of
inflation protection, growth and income.

 

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.

 

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