Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF) CEO Adam Davidson joined Steve Darling from Proactive to share significant news that the company has entered into a binding royalty purchase agreement with New World Resources Limited to acquire a net smelter return (NSR) royalty on all metal production from New World's flagship Antler Copper Project in Arizona.
This marks Trident's fifth transaction of the year. Under the agreement, Trident Royalties will pay 11 million Australian dollars in cash for the royalty.
The acquired royalty includes a 0.90% NSR royalty over the entire current tenement package covering the Antler Copper Project, including the Antler deposit and five named exploration targets.
Additionally, it includes a 0.45% NSR royalty over any ground subsequently acquired by New World within 5km of the Project Area Royalty boundary. The Antler Copper Project is an advanced-stage, high-grade copper-zinc polymetallic deposit located in a secure mining-friendly jurisdiction. It boasts a JORC (2012) compliant Mineral Resource estimate of 11.4 million tonnes at 4.1% Cu-equivalent, representing approximately 467,000 tonnes of Cu-equivalent.
The project is currently undergoing a Pre-Feasibility Study, with pre-construction development work expected to commence in Q1 2025.
Trident Royalties continues to expand its portfolio with strategic royalty acquisitions, solidifying its position as a key player in the mining and royalties space. This latest transaction underscores the company's commitment to growth and its confidence in the long-term potential of the Antler Copper Project.