Trident Royalties adds to portfolio with acquisition of a royalty on the Antler Copper Project
November 09, 2023 at 11:59 pm IST
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Trident Royalties CEO Adam Davidson joined Steve Darling from Proactive to share significant news that the company has entered into a binding royalty purchase agreement with New World Resources Limited to acquire a net smelter return (NSR) royalty on all metal production from New World's flagship Antler Copper Project in Arizona.
This marks Trident's fifth transaction of the year.
Under the agreement, Trident Royalties will pay A$11 million in cash for the royalty. The acquired royalty includes a 0.90% NSR royalty over the entire current tenement package covering the Antler Copper Project, including the Antler deposit and five named exploration targets.
Additionally, it includes a 0.45% NSR royalty over any ground subsequently acquired by New World within 5 kilometers of the Project Area Royalty boundary.
The Antler Copper Project is an advanced-stage, high-grade copper-zinc polymetallic deposit located in a secure mining-friendly jurisdiction. It boasts a JORC (2012) compliant Mineral Resource estimate of 11.4 million tonnes at 4.1% copper (CU)-equivalent, representing approximately 467,000 tonnes of Cu-equivalent.
The project is currently undergoing a Pre-Feasibility Study, with pre-construction development work expected to commence in Q1 2025.
Trident Royalties continues to expand its portfolio with strategic royalty acquisitions, solidifying its position as a key player in the mining and royalties space. This latest transaction underscores the company's commitment to growth and its confidence in the long-term potential of the Antler Copper Project.
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Proactive Investors
+1 604-688-8158
na-editorial@proactiveinvestors.com
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Trident Royalties plc is a United Kingdom-based diversified mining royalty company. The Companyâs principal activity is to invest in mining royalties and offtakes across the natural resources sector. Its activities are located in the United Kingdom, Australia, United States, Zambia, Peru, Canada, South Africa, Mexico, Brazil and Kenya. It operates through three segments: Precious, Bulk, Battery Metals, and Base. The Precious segment includes Lincoln Gold Mine, Gold Offtake Contracts, La Preciosa, Dandoko. The Base segment includes Mimbula, Pukaqaqa, Antler. The Battery Metals segment includes Thacker Pass, Paradox. The Bulk segment includes Koolyanobbing, Kwale. The Companyâs deal-sourcing that focuses on royalties held by natural sellers, such as closed-end funds, prospect generators, junior and mid-tier miners. Its portfolio includes base, precious and battery metals, as well as bulk materials, and includes lithium, gold, copper, molybdenum, mineral sands, and iron ore assets.