Trident Royalties PLC (LON:TRR) is set to complete on the acquisition of the Talga gold royalty, once the consideration shares are admitted to trading.
The deal was initially announced in August 2020. It covers a package of existing gold royalties on four projects located in the prospective Pilbara and Yilgarn regions of Western Australia, Australia.
The royalty package was acquired for total consideration of A$800,000, of which A$250,000 was payable in cash, with A$550,000 to be satisfied by the issue of 848,059 shares in Trident at 35.98p per ordinary share.
The royalties are as follows: Talga Talga, 1.5% Net Smelter Royalty; Warrawoona, 1.5% Net Smelter Royalty; Mosquito Creek, 1.5% Net Smelter Royalty; Bullfinch, 1.0% Net Smelter Royalty.
"We are delighted to be acquiring the gold royalty package from Talga,” said Adam Davidson, chief executive of Trident.
“The package provides Trident with exposure to a portfolio of prospective tenements in a Tier 1 jurisdiction, many of which are being meaningfully advanced by credible and well-funded operators."