TIDMTRR
RNS Number : 1333N
Trident Royalties PLC
21 September 2023
21 September 2023
Trident Royalties Plc
("Trident" or the "Company")
Update on Paradox Basin Royalty
Trident Royalties Plc (AIM: TRR, OTCQB: TDTRF), the diversified
mining royalty company, is pleased to note recent announcements by
ASX-listed Anson Resources Ltd ("Anson", ASX:ASN) detailing
positive progress on its Paradox Lithium Project ("Paradox") and
Green River Lithium Project ("Green River Project"), which are both
located in the Paradox Basin of south-eastern Utah, USA. On 4
September 2023, Trident announced the acquisition of a 2.50% net
smelter return royalty over all of Anson's projects in the Paradox
Basin, including Paradox and Green River Project(1) .
Paradox Lithium Project
Anson recently reported it has ramped production at its Sample
Demonstration Plant at its Lithium Innovation Centre in Florida,
USA, and is now continuously producing battery-grade lithium
carbonate (Li(2) CO(3) ) from Paradox brines for supply to
potential offtake partners. The battery-grade lithium carbonate is
being produced utilising the flowsheet designed by Anson's direct
lithium extraction partner, Sunresin New Materials Co. Ltd.
The ramp-up of sample production is a key step in Anson's
structured product supplier qualification process with potential
offtake partners, as it enables them to provide samples to
potential end-users. The lithium carbonate product from the sample
demonstration plant will be supplied to vehicle manufacturers and
their cathode active material ("CAM") partners for testing as a
part of the qualification process to secure long term off-take
agreements. Anson reports that discussions are ongoing with vehicle
manufacturers, and they are required to provide samples for test
work with their CAM providers in a typically three-stage supply
qualification process.(2)
Green River Lithium Project
Anson also recently reported it has completed the acquisition of
a strategic land package of privately owned industrial use land at
its Green River Project for a purchase price of US$2.4 million.
Anson plans to utilise the new site as the location for the
future lithium extraction and production facility for a proposed
lithium operation at the project. Essential existing infrastructure
surrounds the immediate area, which potentially offers substantial
time and cost savings for the project's future development
requirements. The new land package provides access to the national
rail network, interstate road system, as well as gas and power
infrastructure, and access to the Green River. It is also situated
in close proximity to the town of Green River, providing ready
access to other supporting infrastructure and potential workforce.
The agreement also includes water rights, which will be added to
those which have already been secured.
Design and engineering studies have commenced over the area.
These include an electrical engineering study as well as a
geotechnical survey generated drill program for the foundation of
buildings, potable water supply and the engineering design for the
extraction of water from Green River. Other applications are being
prepared by Anson for the purpose of advancing the project,
including a Conditional Use Permit for the development of
infrastructure and the construction of the processing plant.
The Green River Project was staked in January 2023 and Anson
proposes to explore and develop it in parallel with the development
of the nearby Paradox project. The Green River Project is a
significant strategic addition to Anson's US lithium asset
portfolio. Anson plans to leverage its experience and expertise in
the region to fast-track exploration and mineral delineation for
the Green River Project, to be followed by planned project
development.(3)
Adam Davidson, Chief Executive Officer of Trident commented:
"It is a great pleasure to see continued progress at Paradox as
Anson moves the project towards becoming a U.S. based supplier of
lithium to auto manufacturers and battery manufacturers.
"Anson's acquisition of a significant strategic land package for
its Green River Project is also noteworthy. While Green River is
earlier in its development lifecycle than Paradox, Anson is
leveraging its experience at Paradox to fast track the project.
Aside from the exciting potential to establish Anson as a major
lithium producer in the western United States, progress at Green
River demonstrates the optionality and upside inherent in Trident's
acquisition of this royalty."
References
1: Source: Trident Royalties announcement dated 4 September 2023
(
https://polaris.brighterir.com/public/trident/news/rns/story/rgz8ljw
)
2: Source: Anson Resources announcement dated 15 September 2023
( https://wcsecure.weblink.com.au/pdf/ASN/02712060.pdf )
3: Source: Anson Resources announcement dated 13 September 2023
( https://wcsecure.weblink.com.au/pdf/ASN/02711031.pdf )
Competent Person's Statement
The technical information contained in this disclosure has been
read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, MIMMM,
FGS), who is a qualified geologist and acts as the Competent Person
under the AIM Rules - Note for Mining and Oil & Gas Companies.
Mr O'Reilly is a Principal Consultant working for Mining Analyst
Consulting Ltd which has been retained by Trident to provide
technical support.
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson / Richard Hughes +1 (757) 208-5171 / +44 7967
589997
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
/ Samuel Littler
------------------------------
Liberum Capital Limited (Joint Broker) www.liberum.com
Scott Mathieson / Cara Murphy +44 20 3100 2184
------------------------------
Stifel Nicolaus Europe Limited (Joint www.stifelinstitutional.com
Broker) +44 20 7710 7600
Callum Stewart / Ashton Clanfield
------------------------------
Tamesis Partners LLP (Joint Broker) www.tamesispartners.com
Richard Greenfield +44 20 3882 2868
------------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
------------------------------
About Trident
Trident is a growth-focused diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
-- Building upon a royalty and streaming portfolio which broadly
mirrors the commodity exposure of the global mining sector
(excluding fossil fuels) with a bias towards production or
near-production assets, differentiating Trident from the
majority of peers which are exclusively, or heavily weighted,
to precious metals;
-- Acquiring royalties and streams in resource-friendly jurisdictions
worldwide, while most competitors have portfolios focused
on North and South America;
-- Targeting attractive small-to-mid size transactions which
are often ignored in a sector dominated by large players;
-- Active deal-sourcing which, in addition to writing new royalties
and streams, will focus on the acquisition of assets held
by natural sellers such as: closed-end funds, prospect generators,
junior and mid-tier miners holding royalties as non-core
assets, and counterparties seeking to monetise packages of
royalties and streams which are otherwise undervalued by
the market;
-- Maintaining a low-overhead model which is capable of supporting
a larger scale business without a commensurate increase in
operating costs; and
-- Leveraging the experience of management, the board of directors,
and Trident's adviser team, all of whom have deep industry
connections and strong transactional experience across multiple
commodities and jurisdictions.
The acquisition and aggregation of individual royalties and
streams is expected to deliver strong returns for shareholders as
assets are acquired on terms reflective of single asset risk
compared with the lower risk profile of a diversified, larger scale
portfolio. Further value is expected to be delivered by the
introduction of conservative levels of leverage through debt. Once
scale has been achieved, strong cash generation is expected to
support an attractive dividend policy, providing investors with a
desirable mix of inflation protection, growth and income.
Forward-looking Statements
This news release contains forward -- looking information. The
statements are based on reasonable assumptions and expectations of
management and Trident provides no assurance that actual events
will meet management's expectations. In certain cases, forward --
looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Trident believes the
expectations expressed in such forward -- looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may include
changes in market conditions, changes in metal prices, general
economic and political conditions, environmental risks, and
community and non-governmental actions. Such factors will also
affect whether Trident will ultimately receive the benefits
anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the forward --
looking statements. These and other factors should be considered
carefully and readers should not place undue reliance on
forward-looking information.
Third Party Information
As a royalty and streaming company, Trident often has limited,
if any, access to non-public scientific and technical information
in respect of the properties underlying its portfolio of royalties
and investments, or such information is subject to confidentiality
provisions. As such, in preparing this announcement, the Company
often largely relies upon information provided by or the public
disclosures of the owners and operators of the properties
underlying its portfolio of royalties, as available at the date of
this announcement.
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END
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