|
Trident Royalties PLC on Monday said its Thacker Pass lithium royalty will be held under Lithium Americas Corp following the separation of the Vancouver-based lithium exploration company. The London-based diversified mining royalty company holds a 60% interest in a 1.8% gross revenue royalty over Thacker Pass. This comes after Lithium Americas announced the separation of its company into Lithium Americas (Argentina) Corp and Lithium Americas Corp, Trident said. The royalty company on Monday also noted Vancouver-headquartered gold producer Equinox Gold’s announcement that the Greenstone Project in Ontario is 85% complete and is progressing on schedule and on budget, with first gold expected in the first half of 2024. Trident owns an 100% offtake from Premier Gold Mines Ltd, a subsidiary of Equinox of up to 58,500 ounces of gold produced at Greenstone. The offtake will be delivered in full in 2024 and 2025, with shortfall deliveries compensated at a rate of $23.50 per ounce in revenue to Trident. In addition, Trident noted that Perth-based gold producer Silver Lake Resources will invest $35 million in growth capital at the Sugar Zone gold mine in Ontario, which includes $28 million for an exploration program. 93,000 metres of drilling are expected to be completed in the next few months, the company said. Trident owns an offtake for 50% of gold produced at Sugar Zone. Chief Executive Officer Adam Davidson said: ‘We have seen good progress across the portfolio in the first half of 2023, which provides a strong underpin to our asset value. We are also maintaining a good pipeline of prospective transactions, which backed by our robust balance sheet, should deliver further value accretion for shareholders.’ Shares in Trident were up 0.9% at 44.0 pence each in London on Monday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
