Trident Royalties releases second-quarter activities report that shows progress on several fronts

Trident Royalties PLC (AIM:TRR, FRA:5KV) has released second-quarter operating results in which it noted significant asset level progress at a number of projects over which it holds royalties.

This included the commencement of pre-stripping of a new deposit in the royalty zone at Koolyanobbing, a 50% increase in indicated resources at the Lake Rebecca gold project, with total resources now in excess of 1.1mln ounces, ongoing construction activities at the Warrawoona gold project and positive indications for the forthcoming feasibility study for the Thacker Pass lithium project.

And at the Mimbula copper project a US$73mln equity financing will help ramp up existing production.

New board appointments for Trident also added further strength in depth.

During the period Trident finalised all documentation and, together with its subsidiary companies, entered into a US$10mln secured loan facility agreement to facilitate further growth and diversification of the portfolio.

Second-quarter royalty payments amounted to US$381,808 from royalties over producing assets, namely Mimbula and Koolyanobbing.

Separately, new director Paul Smith, a recent appointee from Glencore, has been granted options in the company.