Trident Royalties Plc is pleased to note a significant development relating to its Mimbula Copper Royalty and the project operator, Moxico Resources Plc. The Mimbula Copper Royalty was acquired in June 2020 for US$5 million. The GRR rate is 1.25%, decreasing to 0.3% upon US$5 million being paid on the royalty, with a subsequent decrease to 0.2% once the royalty has been paid on a total of 575,000 tonnes of copper. To date, Trident has received US$453,707 in royalty payments.

Moxico recently completed a US$73 million equity financing which will be used to fast track the development of a standalone processing operation at Mimbula.

CEO Adam Davidson recently provided an update of the business and its strategy below