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Trident Royalties Plc reported a 6% decrease in quarterly receipts to US$2.98 million in Q1 2024, driven by lower gold deliveries. The company remains optimistic about the growth potential of its assets, with key developments in various projects. Thacker Pass lithium royalty is advancing towards cash-flow, while the gold offtake portfolio continues to perform well. Trident completed acquisitions and secured funding for future productions. Despite an unaudited net debt position of US$22 million, Trident's CEO expressed confidence in the company's portfolio and revenue growth prospects.
Trident Royalties PLC, a mining royalty company, announces a binding offtake term sheet with LG Energy Solution for battery-grade lithium carbonate from Paradox Lithium Project. The offtake involves 4,000 dry metric tonnes per year for an initial 5-year period, extendable for another 5 years thereafter. This represents 40% of the anticipated project start-up production capacity. LG and Anson are in discussions regarding an investment. Anson successfully sampled the Mississippian Units at Green River, confirming it as their second lithium project in Utah. The PR highlights the strategic potential of US lithium production to meet the growing demand for electric vehicles in North America.
Trident Royalties PLC announced its 2023 full year results, showcasing revenue growth, acquisitions, and a diversified portfolio. Despite global challenges, the company remains optimistic about its strategic investments in mining royalties.
Trident Royalties PLC, a mining royalty company, will release its Q1 2024 Activities Update on May 7, 2024. The company's stock is listed as TDTRF on the AIM and OTCQB exchanges.
