Trident Royalties PLC (AIM:TRR) racked up record receipts in the first quarter of 2022 as its gold offtakes portfolio contributed for the first time.
Total royalty income jumped by almost 400% to US$2.23mln compared to this time a year ago, with US$1.57mln coming from the gold portfolio newly acquired from partner Orion.
Two assets announced their first gold in the quarter with the Blyvoor mine accelerating production ramp-up in March.
Mimbula (copper royalty) increased its contribution by a third to US$500,000, while Koolyanobbing (iron ore) resumed and more than doubled its income to US$210,000.
Progress had also been made at the Thacker Pass lithium project, said Trident, where Lithium Americas received all final key Nevada state-level environmental permits.
Finalisation of the Federal Record of Decision permitting process is expected in this coming third quarter, the statement added.
Adam Davidson, chief executive, said it had been an "excellent start to the year".
“Completion of the gold offtakes acquisition coupled with positive advancements at several portfolio assets has significantly enhanced the quality of our portfolio.”
“We are confident regarding our outlook, with a strong pipeline of value accretive opportunities across a range of commodities and geographies."