Trident Royalties PLC (LON:TRR) said significant progress had been made by operators of several projects over which it holds royalties.
It highlighted developments at Thacker Pass, operated by Lithium Americas Corp, where results of a feasibility study targeting an initial 30,000-35,000 tonnes per annum lithium carbonate equivalent of capacity are expected by year end.
At the Lake Rebecca gold project, operator Apollo Consolidated Ltd announced further encouraging exploration, step-out and infill drilling results, providing the possibility for further royalty up-side when the project is put into production.
Torque Metals Ltd, operator of the Bullfinch gold project in Western Australia, has published a prospectus ahead of its proposed listing on the Australian Stock Exchange this month and a capital raising.
While Calidus Resources Ltd has provided a construction update for the Warrawoona gold project in the East Pilbara of Western Australia.
"It is very encouraging to be able to report some significant progress at a number of our royalty companies,” said Trident chief executive Adam Davidson.
“One of the key benefits of royalties is that the holder of the royalty enjoys the upside from positive progress of the underlying assets, but without the exposure to dilution and cost overruns which can negatively impact equity investments.”
“Although in our infancy still, Trident is already benefiting in this regard given key assets within our portfolio are either materially progressing toward production, expanding their anticipated production profiles, or growing the underlying mineral resources.”