Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF) is expecting to benefit from the ramp-up and beginning of production at several of its portfolio mining projects.
Adam Davidson, the royalty company’s boss, said Trident expects to grow its cash generation with its investment in the Greenstone gold project estimated to deliver around 58.5koz throughout 2024.
Additionally, payments are set to start from its La Preciosa silver royalty after its operator announced it was beginning to process surface stockpiles.
“Construction activities continue to progress at the Thacker Pass lithium project, whilst on-going ramp-up and recently completed equipment upgrades are expected to double capacity at the Mimbula copper project in 2024,” Davidson added.
Receipts reached close to US$3.2 million for the quarter to 31 December 2023, with higher deliveries from its gold portfolio helping a 63% jump quarter on quarter.
Davidson said: “Against the backdrop of an increasingly complex and volatile geopolitical environment, our diversified portfolio - with exposure to gold, lithium, copper, silver, and other commodities - continues to demonstrate its value.
“In particular, our gold offtake assets again benefited from elevated volatility in gold prices.”
In November, the company revealed it would be cutting borrowing costs by up to US$1.3 million a year through a new US$40 million revolving credit facility.
Trident confirmed the deal for this facility is set to close in the first quarter of 2024.
Shares in Trident Royalties are up around 1.5% on Monday at 36p.