–News Direct–
Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF) CEO Adam Davidson joined Proactive's Stephen Gunnion with details of the company's performance for the quarter ended 31 March 2024.
Royalty income approached amounted to US$2.98 million, with a notable performance from its gold offtake portfolio, especially during March which continued into the second quarter due to favourable gold prices. Davidson highlighted seasonal production variations, with reduced outputs in the first quarter generally compensated by higher gold prices.
Significant developments include the full acquisition of Greenstone mine by Equinox Gold, anticipated to produce up to 400,000oz annually for the first five years, and Trident's gold offtake from this mine is expected to contribute substantially to revenue. Davidson also touched on a production expansion at the Blyvoor Gold mine, which could significantly boost Trident's royalties from increased production targets.
Additionally, the US Department of Energy's conditional commitment to loan $2.26 billion for the Thacker Pass lithium development was a crucial milestone, supporting the construction of one of the world's largest lithium deposits, and promising long-term revenue contributions to Trident.
Davidson also discussed the sale of Trident's Australian gold royalty portfolio, which was a strategic move to optimize the asset mix and reinvest capital into new acquisitions, enhancing the company's growth trajectory.
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View source version on newsdirect.com: https://newsdirect.com/news/trident-royalties-reports-strong-quarterly-performance-and-strategic-asset-developments-975086152
Trident Royalties PLC
COMTEX_452062490/2655/2024-05-08T08:56:58
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