Trident Royalties PLC (AIM:TRR) has noted further announcements made by Apollo Consolidated Ltd (ASX:AOP), ASX-listed Ramelius Resources and ASX-listed Gold Road Resources relating to the proposed acquisition of Apollo.
Trident holds a 1.5% net smelter return gold royalty over Apollo's flagship Lake Rebecca gold project in Western Australia.
The royalty covers the entirety of the project and its 1.1mln ounce gold resource.
"Trident is pleased to note the further and increasingly competitive corporate activity involving Apollo and its cornerstone Lake Rebecca project, which now has two publicly active ASX listed gold mid-tiers vying for control of the project,” said Adam Davidson, chief executive of Trident.
“The interest reaffirms the quality of the Lake Rebecca project as one of the best undeveloped gold projects in Australia and adds credence to Trident's original positive view of the asset. Both Ramelius and Gold Road are well capitalised, Western Australian gold producers with the required in-house expertise and experience to successfully transition Lake Rebecca from its current resource-building stage, through to mine development and operation.”