10:00 Mon 01 Feb 2021
Trident Royalties. - Calidus Consolidates Key Warrawoona Tenements
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
Trident has a binding agreement to acquire a 1.5%
Calidus Resources Managing Director
"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%
"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
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
Competent Person's Statement
The technical information contained in this disclosure has been read and approved by Mr
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Contact details:
Trident Royalties Plc |
+1 (757) 208-5171 |
Grant Thornton (Nominated Adviser) |
+44 020 7383 5100 |
Tamesis Partners LLP (Financial Adviser and Joint Broker) |
+44 203 882 2868 |
Shard Capital Partners LLP (Joint Broker) |
+44 207 186 9927 |
St Brides Partners Ltd (Financial PR & IR) Susie Geliher / |
+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 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
· 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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