Trident Royalties PLC (AIM:TRR) chairman Paul Smith called 2021 a "transformative" year as it made four investments, followed by the completion of gold offtake contracts worth almost US$70mln in January.
“We entered 2022 with a portfolio capable of immediate and meaningful cash generation as well as substantial future optionality,” he added.
Looking ahead, Smith went on: “Potential deal flow currently continues to be both numerous and attractive.
“Our priority will remain royalties in established mining jurisdictions which are immediately or very near-term cash generative.”
During the 12 months to 31 December 2021, total net assets grew to US$88.1mln from US$25.51mln, largely due to the company’s Thacker Pass acquisition and the fund-raise last December.
As at the period-end, Trident had US$38.46mln on the balance sheet, and it booked a pre-tax loss of US$4.4mln.