Trident Royalties PLC (AIM:TRR) delivered sales of just over US$3.1mln during the six months to June 2022, up significantly from the US$77,000 a year earlier.
The loss before taxation amounted to US$800,000, a slight reduction on the US$1mln booked previously.
Net assets grew from US$88mln a year ago to US$107mln.
During the period, Trident completed its largest transaction to date, acquiring a portfolio of gold offtake contracts for US$69.75mln.
The company received royalty and offtake receipts of US$7.84mln, in particular from Mimbula, and Koolyanobbing.
First gold was poured at Ruby Hill and Santa Luz, while there was a significant resource update at the Rebecca gold project.
"Trident has continued to excel amid a difficult macro-economic environment,” said Adam Davidson, the company’s chief executive.
“The portfolio is performing well, with solid progress made across a number of assets. I am pleased with the acquisitions we made during the period, most notably a portfolio of cash generative gold offtakes which range across a number of jurisdictions, assets and operators. Looking forward to the second half, Trident is well positioned to continue our record of consistent growth. Our strong balance sheet will enable us to execute more value-accretive transactions and further reduce our cost of capital. A final permit decision at the Thacker Pass lithium project is expected during the second half, which will transform Trident's anticipated future revenue profile and battery metals exposure.”