Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF) said royalty income amounted to US$2.98 million in the quarter ended 31 March 2024, down 6% and reflecting seasonally lower deliveries from the gold offtake portfolio offset by the higher metal price.
Even so, Trident said the margins from its gold offtake portfolio remained ‘exceptionally strong’ with second-quarter net gold offtake revenues already over US$1 million.
Further increases in gold deliveries are expected as production seasonally increases due to the imminent first gold production from the Greenstone Project (May 2024).
Blyvoor Gold meanwhile recently announced expansion up to 150,000 gold ounces per year in the medium term (from the current 30,000oz).
At the Thacker Pass lithium development, the U.S. Department of Energy has made a conditional commitment for a US$2.26 billion loan to fund the construction of the processing facilities.
As of 3 May 2024, Trdient had an unaudited net debt of US$22 million.
Adam Davidson, chief executive, commented: "The important asset level developments during the period include the imminent delivery of first gold from the Greenstone Project, the completion of funding for Phase 1 at Thacker Pass Lithium - including a US Department of Energy's US$2.26 billion loan and a $275 million public offering - and commencement of stockpile processing at the Preciosa silver project.”