14th Dec 2021 19:18
Trident Royalties PLC - London-based mining royalty & streaming company - Raises USD40.0 million, around GBP30.2 million through a placing of 84.0 million shares at a price of 36 pence per share.
Tamesis Partners LLP, Ashanti Capital Pty Ltd and Stifel Nicolaus Europe Ltd acted as joint bookrunners.
Proceeds will go towards the acquisition of a portfolio of gold offtake streams from funds managed by Orion Resource Partners for USD69.8 million in cash and shares. Company now has 251.6 million shares issued overall.
"I am thrilled with the support we have received from both institutional and retail investors, demonstrating strong support for our business model and the attractiveness of the acquisition. Following strong demand we have increased the size of the fundraising, which will provide additional capital for future royalty and stream acquisitions," says Chief Executive Officer Adam Davidson.
Current stock price: 38.04 pence
Year-to-date change: down 4.9%
By Dayo Laniyan; [email protected]
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