Trident Royalties (LON:TRR) has announced the acquisition of three existing royalties in the Pukakaka Copper Project in Peru.
In the renewal, the company said it has concluded a binding, conditional agreement with Bellatrix Ltd, a subsidiary of Orion Resource Partners.
Pukakaka is a project located in an established mining district in Peru. It covers 11,125.87 hectares and consists of 34 concessions.
The three royalties are Valdam, the South of Red and Red.
Trident, a diverse mining royalty and streaming company focused on growth, stocks in growth-focused, are rising this week following acquisition news. As part of its strategy, the group said it is building a loyalty and streaming portfolio to broadly reflect product exposures in the global mining sector and target attractive small to medium-sized transactions. It’s there. Large players. ”
The large-scale projects moving forward towards development will generate a huge revenue stream for nearly 20 years, said Adam Davidson, CEO of Trident.
He commented in his trading update: The loyalty covers large assets that are actively progressing by established regional operators. With current resources, at a processing speed of 30,000 tonnes per day, Pukakaka believes that it could produce around 35,000 tonnes of copper per year, along with potential molybdenum, gold and silver credits.
“We have not lost sight of our priorities for acquiring cash-generating royalties, but we plan to grow long-term Trident, so we are hoping to gain attractive development loyalty over such a critical asset. , the royalty company could catapult the possibility of MID from junior status – tier/major. Also adds that it was a joy in dealing with Orion. Looking forward to further involvement in the future. 2020 It is worth noting that there is a pace of Trident trading as the June list continues to surpass my expectations and demonstrates the robustness of the pipeline. Report more about our progress I look forward to it,” he added.
Upon completion of the transaction, Orion will become a 6.1% shareholder of Trident Romance.
Trident Royalties stock (LON: TRR) is trading +4.77% at 35.60 (1054GMT).
