("Trident" or the "Company")
Portfolio Update:
Trident has agreed to provide various waivers in relation to its security position in exchange for the implementation of a Minimum Payment Schedule ("MPS"), which will replace the revenue expected from deferred Stage 1 production. First payment of
"Trident is supportive of the proposed re-focus on resource expansion and fast-track plans for Stage 2 production. Indeed, Trident's original investment thesis was centred on the exploration potential of the highly prospective
LINCOLN PROJECT UPDATE SUMMARY
Trident has agreed to a variation to the existing Royalty Agreement with the following key points:
· Seduli to pay the higher of the royalty rate of 1.50%, or the MPS
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· Minimum ongoing quarterly payments of
· Payments made quarterly until
· After
In exchange for the MPS, Trident has provided various waivers and standstills in relation to potential future events of default under the existing royalty deed. The royalty retains senior security over all key assets of the Project and terms remains unchanged from the initial investment, excepted as noted in this release.
References
1:
Table 1: Mineral Resource Estimate for
Deposit |
Resource Classification |
Tonnes |
Gold Grade (g/t) |
Contained Gold (Koz) |
Lincoln-Comet# |
Indicated |
137,893 |
13.75 |
61 |
Lincoln-Comet# |
Inferred |
459,038 |
8.71 |
128 |
Keystone* |
Inferred |
361,969 |
8.33 |
97 |
Total |
- |
958,900 |
9.29 |
286 |
Gold cut-off grade of 4.11g/t Au. # Lincoln-Comet Mineral Resource Estimate dated * Keystone Mineral Resource Estimate dated |
Technical Report available via Canadian System for Electronic Document Analysis and Retrieval ("SEDAR"), filed under 'Sutter Gold Mining Inc.', see https://www.sedar.com/homepage_en.htm
2:
( https://polaris.brighterir.com/public/trident/news/rns/story/wklj8ox )
Competent Person's Statement
The technical information contained in this disclosure has been read and approved by Mr
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of
** Ends **
Contact details:
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+1 (757) 208-5171 / +41 79 947 1348 |
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+44 020 7383 5100 |
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+44 20 7710 7600 |
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+44 20 3882 2868 |
Investor Relations: Public Relations: |
+44 207 796 4133 |
About Trident
Trident is a growth-focused diversified mining royalty and streaming company, providing investors with exposure to a mix of base battery, precious, and bulk metals.
Key highlights of Trident's strategy include:
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Building upon a royalty and streaming portfolio which broadly mirrors the commodity exposure of the global mining sector (excluding fossil fuels) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals;
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Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on
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Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;
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Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;
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Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and
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Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions. |
The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.
Forward-looking Statements
This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Trident provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Trident believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Trident will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.
Third Party Information
As a royalty and streaming company, Trident often has limited, if any, access to non-public scientific and technical information in respect of the properties underlying its portfolio of royalties and investments, or such information is subject to confidentiality provisions. As such, in preparing this announcement, the Company often largely relies upon information provided by or the public disclosures of the owners and operators of the properties underlying its portfolio of royalties, as available at the date of this announcement.