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Overview

Trident Royalties (AIM:TRR) is targeting a royalty & streaming portfolio to broadly mirror the commodity exposure of the global mining sector, with a production bias versus the majority of its peer group which is exclusively, or heavily weighted, to precious metals. The aim is to have a portolio evenly split between precious metals, base metals and bulk/ battery metals, across a range of mining-friendly jurisdictions worldwide, while most other royalty and streaming companies have portfolios weighted towards mining assets located in North and South America.

Producing royalties and streams can deliver strong and predictable cash flows, which can be leveraged through debt to enhance returns to equity and can underpin eventual dividend returns to shareholders. In this regard, the Company has entered into an exclusive mandate letter with Tribeca Global Resources Credit in relation to the arranging, underwriting and raising of an acquisition debt facility of up to approximately US$10 million

The Company’s first royalty acquisition, expected to complete shortly, is a 1.5% free on board royalty over part of the producing Koolyanobbing Iron Ore Operation in Western Australia, operated by Mineral Resources Limited (ASX: MIN, market capitalisation approx. US$2.5 billion), providing exposure to an immediately cash generative royalty over an established asset which is currently undergoing a production increase.

www.tridentroyalties.com

Directors

  • James Kelly (NE Chair): 20 yrs mining experience. Ex business development at Xstrata plc
  • Adam Davidson (CEO): 10yrs natural resources experience, formerly with PE Group Resource Capital Funds
  • Mark Potter (NED): 14yrs mining experience. Current CIO of Metal Tiger & ex CIO of Anglo Pacific Group
  • Albert Gourley (NED): Managing Partner of Fasken Martineau

 

Peer Group

  • Anglo Pacific Group Plc (LSE: APF): Mining royalties
  • Ely Gold Royalties (TSX-V: ELY): Gold mining royalties
  • Sandstorm Gold Royalties (TSX:SSL): Gold mining royalties
  • Duke Royalty (LSE: DUKE): Royalties business

Major Shareholders

Directors

  • Albert Gourley – 3.7%
  • James Kelly – 0.3%
  • Adam Davidson – 0.1%
  • Mark Potter – 0.1%

Other

  • LIM Asia Special Situations Master Fund Ltd – 15.9%
  • Regal Funds Management Pty Ltd – 7.9%
  • Ponderosa Investments (WA) Pty Limited – 7.9%
  • Rob Hamilton – 5.1%
  • Terra Capital Natural Resources Fund Pty Ltd – 4.6%
  • Tribeca Investment Partners Pty Ltd – 4.0%

Macro Indicators

Australian Mining: Mining achieves record tax, royalty payments  (May 2020)

Australia’s minerals sector has paid $39.3 billion in company taxes and royalties in the 2018-19 financial year, a record high for the sector. This marks an increase of $8 billion from the previous year.

The increase was in line with revenue growth that reflected continued higher production and strong commodity prices, according to a Deloitte Access Economics report commissioned by the Minerals Council of Australia (MCA).

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Broker Coverage

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