Trident Royalties PLC (AIM:TRR) royalty asset sale to Franco-Nevada Corporation (TSX:FNV) is a win-win for both parties, according to brokers.
The sale, of several pre-production gold royalties, for up to US$15.8mln in cash delivers a 2.4 times money-on-money return on an investment of just two years ago, said analysts at Liberum Capital.
Trident Royalties PLC (AIM:TRR) has agreed to sell gold royalties over several pre-production projects to Franco-Nevada Corporation (TSX:FNV) for up to US$15.8mln (£12.9mln) cash, and has separately renewed a debt facility on more favourable terms.
The company hailed the various benefits of the Franco-Nevada deal, which covers six gold mining projects that were acquired for roughly US$6.5mln: Lake Rebecca in Western Australia, Spring Hill in Australia’s Northern Territory, and a portfolio of four other Western Australia projects acquired from Talga Resources.
Technology Minerals PLC (LSE:TM1) has signed a £4mln convertible bond facility with Macquarie Bank (MBL) and Atlas Capital (ACM) to fund the ramp-up of the first phase of operations at its Tipton lead-acid battery recycling plant.
Funds will also be earmarked to support Technology Mineral’s plan to develop lithium-producing mining assets in Ireland as part of its twin-track recycling strategy.
Anglo American PLC (LSE:AAL) has set out its production and capex plans for 2022 to 2025 with a rebound in production expected in 2023 and 2024 after a fall this year.
The FTSE 100-listed mining group said 2022 production would be down by around 3%, with the Quellaveco copper ramp-up and strong diamond production offset by ore grades in Chile and lower production from Kumba and platinum group metals.
Oriole Resources PLC (AIM:ORR), the AIM-quoted gold exploration company focussed on West Africa, has said it will write down the carrying value of its 24.94% interest in privately-owned Thani Stratex Resources Limited (TSR) after its Hodine licence in Egypt was formally relinquished.
On 19 October 2022, Oriole reported that Red Sea Resources Limited (RSR) had spent US$2.2mln on exploration at Hodine, specifically the Anbat project, but that it would not be exercising its option to acquire an 85% interest in the licence.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) said it has entered a forward sale agreement with Ocean Partners for gold produced at the Omagh gold mine in Northern Ireland for 2024 and early 2025.
The miner will supply 500 ounces per month from February 2024 to January 2025, 6,0000 ounces in total, at a strike price of US$1,775 per ounce generating US$804,000 immediately to Galantas.