TIDMTRR
RNS Number : 5271N
Trident Royalties PLC.
01 February 2021
1 February 2021
Trident Royalties Plc
("Trident" or the "Company")
Royalty Portfolio Update: Calidus Consolidates Key Warrawoona
Tenements
Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused
mining royalty and streaming company, is pleased to note the
announcement on 1 February 2021 by ASX-listed Calidus Resources
Limited ("Calidus")(1) that it has successfully consolidated key
exploration and infrastructure tenements(2) as part of the broader
Warrawoona Gold Project ("Warrawoona" or the "Project"). Calidus
previously owned the tenements in a joint venture arrangement with
TSX-listed Novo Resources Corp ("Novo") and is now moving to 100%
ownership.
Trident has a binding agreement to acquire a 1.5% Net Smelter
Royalty over the eastern part of the planned Warrawoona mine
through tenement E45/3381 (which is pending conversion to Mining
Lease M45/1290(3) ). The acquisition is expected to complete in Q1
2021. Trident announced the Warrawoona Royalty acquisition on 28
August 2020.
Calidus Resources Managing Director Dave Reeves said: "The
purchase of the 30% interest in these tenements not only
consolidates ownership in these key exploration and infrastructure
tenements but also assists greatly in funding and operational
administration by reducing cross ownership and guarantee
structures. We are well on track to start main construction
activities at Warrawoona this quarter, with final operating
approvals expected shortly."
Adam Davidson, Chief Executive Officer and Executive Director of
Trident commented:
"We are pleased to note Calidus' continued positive momentum as
it progresses the 1.5Moz Warrawoona Gold Project, over part of
which Trident holds a 1.5% Net Smelter Royalty. Calidus has
achieved a number of important financing and development milestones
at Warrawoona subsequent to Trident announcing the acquisition of
the royalty as part of a portfolio of four gold royalties on 28
August 2020.
"The consolidation, which does not fundamentally impact the
royalty, is another meaningful step by Calidus toward operation and
further de-risks Trident's investment. We look forward to following
developments at the project as main construction commences in Q1
2021."
References
1 Source: Calidus Resources press release dated 1 February 2021
(
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02336194-6A1018144?access_token=83ff96335c2d45a094df02a206a39ff4
)
2 Source: General Purpose Leases are for mine infrastructure
purposes such as operating machinery, depositing or treating mining
tailings, etc. and are valid for a period of 21 years (renewable).
The royalty tenement E45/3381 footprint includes General Purpose
mine infrastructure leases G45/345 and G45/349.
3 Source: Government of Western Australia Mineral Titles Online
search result. Search date 1 February 2021 (
https://emits.dmp.wa.gov.au/emits/enquiry/home2.xhtml ,and Tengraph
system https://tgw.dmp.wa.gov.au/tgw/# )
Competent Person's Statement
The technical information contained in this disclosure has been
read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, MIMMM,
FGS), who is a qualified geologist and acts as the Competent Person
under the AIM Rules - Note for Mining and Oil & Gas Companies.
Mr O'Reilly is a Principal consultant working for Mining Analyst
Consulting Ltd which has been retained by Trident to provide
technical support.
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson +1 (757) 208-5171
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Seamus Fricker
---------------------------------------------------------
Tamesis Partners LLP (Financial www.tamesispartners.com
Adviser and Joint Broker) +44 203 882 2868
Richard Greenfield
---------------------------------------------------------
Shard Capital Partners LLP (Joint www.shardcapital.com
Broker) +44 207 186 9927
Erik Woolgar / Isabella Pierre
---------------------------------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
/ Charlotte Hollinshead
---------------------------------------------------------
About Trident
Trident is a growth-focused, diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base and precious metals, bulk materials (excluding thermal coal)
and battery metals.
Key highlights of Trident's strategy include:
-- Building a royalty and streaming portfolio to broadly mirror
the commodity exposure of the global mining sector (excluding
thermal coal) 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
has relied 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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