Q2 2022 Activities Update

Trident Royalties Plc (AIM: TRR), the diversified mining royalty company, is pleased to provide an update on its activities during the quarter ended 30 June 2022, including Q2 royalty receipts and operational progress across its portfolio.

Q2 HIGHLIGHTS

• Q2 receipts of US$5.7 million from exposure to gold, copper, and iron ore.
• A notable increase in iron ore sales from Trident’s royalty tenement at the Koolyanobbing Project, Western Australia.
• A favourable restructure of the Premier Gold Offtake to account for the removal of the Mercedes Mine, triggering a one-off payment of US$3.7 million to Trident, as well as guaranteed future delivery payments beginning in 20241.
• Lower gold offtakes income in the quarter, primarily from the removal of the Mercedes Mine – which accounted for a substantial portion of Q1 gold offtakes income – coupled with lower gold prices and volatility over the period.
• Finalization of the Federal Record of Decision permitting process at the Thacker Pass lithium project expected shortly after completion of briefings schedule to end on 11 August 2022, with the project on track to commence construction in H2 20222.
• Announcement of first gold at the Santa Luz project in Brazil, operated by Equinox Gold3.
• Approval of the mine plan for the Spring Hill gold project in Australia, with initial Stage 1 gold production of 102,000 ounces anticipated to commence in 20234.
• Post the period end, a favourable amendment of the proposed Sonora lithium royalty transaction5 and positive Resource update at the Rebecca gold project from 9,070m of infill drilling (from an ongoing 75,000m drill program)6.
• Cash of US$21.5 million as at 29 July 2022, providing a strong platform for further acquisitions

News in full

CEO Adam Davidson provides an overview of the business and its strategy below (Filmed May 2021)