Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF) has completed its Antler Royalty acquisition, following the satisfaction of any remaining conditions, and it has now added net smelter royalty rights to New World Resources’ Antler copper mine.
The royalty is for 0.9% of net smelter returns from Antler plus 0.45% of net smelter returns from any ground subsequently acquired by New World within 5 kilometres from Antler (which includes recently announced mining rights purchased from Newmont).
"The Antler Royalty is a substantial addition to our business and represents the fifth royalty acquired by Trident in 2023,” Trident chief executive Adam Davidson said in a statement.
“Antler is an exciting polymetallic deposit and provides Trident with exposure to a highly attractive suite of future-facing base metals, including copper and zinc.
“The recently announced mining rights acquisition by New World highlights the significant potential for further growth in the resource and mine life."
He added: “We are excited to add another royalty to the Trident portfolio and continue to see significant deal flow and opportunities for further value accretive growth."
The total consideration for the transaction was A$11 million.