Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF)’s quarterly receipts rose 18% to US$2.34mln in the three months to June 2023, due to contributions from the gold, copper and iron ore investments in its portfolio.
Cash as of 28 July was US$29mln, providing a strong platform for further acquisitions, it added.
Adam Davidson, chief executive, commented: "Trident has enjoyed another positive quarter which saw significant progress at key assets, as well as the announcement of a new acquisition.
“Completion of the La Preciosa acquisition, an attractive long-life silver asset in Mexico, provides exposure to a new commodity well positioned to benefit from the energy transition and further adds to the diversity of Trident's portfolio.
"The dismissal of the appeal of approval of the Thacker Pass lithium project further validates the robustness of the environmental standing of the project and reaffirms the importance of the asset for US battery manufacturing.
“Trident undertook a site visit to Thacker Pass during the quarter and was impressed both by the calibre of the operating team and progress achieved to date.”
Thacker Pass is the largest lithium development in the US with Trident to hold the equivalent of a 1.05% revenue royalty if operator LAC exercises a buyback option.