Trident Royalties PLC shares continued to rise on Friday after it on Thursday announced positive developments in its final quarter had set the company up for a promising year ahead.
The London-based mining royalty and streaming company said its producing assets in the fourth quarter of 2021 had multiplied, boosting the scale and diversity of its portfolio. In January, it started to see revenue from its gold offtake streams, acquired in the fourth quarter, and expects a total revenue from the assets of $13.3 million over 2022.
Trident’s share price was up 6.7% to 47.50 pence each in London on Friday morning, having risen 8.5% on Thursday.
Trident said Lithium Americas Corp, which operates the Thacker Pass lithium project, had doubled the production estimates in the final quarter, and is studying a potential 30% scale-up of operations. Construction is expected to start in the first half of this year.
The company also expects to see revenue in its first quarter for its royalty tenure in the Claw Pit site of Koolyanobbing iron mine, where mining operations started in the final quarter of 2021 by operator Mineral Resources Ltd.
Its gold interests at Lake Rebecca project have been taken over from the operator Apollo Consolidated after it was acquired by Ramelius Resources Ltd, who now expects the mine to have a run rate of 100,000 ounces per annum for the next 10 years. After slight delays from Covid supply-chain issues, Lincoln Gold, in which Trident also has interests, is expecting production in the first quarter of 2022.
Trident received royalty payments of $375,000 in the final quarter, and said its first quarter of 2022 will see ‘a substantial increase’.
‘This has been Trident’s most significant quarter to date and sets the company up for what I am convinced will be an exciting year to come. The number of producing assets within the portfolio increased by 350% in the quarter - increasing not only the scale but, importantly, the diversification of our portfolio,’ said Chief Executive Officer Adam Davidson.
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