8th Apr 2021 12:31
(Alliance News) - Trident Royalties PLC announced on Thursday it had completed its acquisition of copper royalties over the Pukaqaqa copper project in Peru for USD3 million.
In December it announced it had agreed to acquire the existing royalties from Orion Resource Partners for USD3 million to be satisfied by the issue of 6.9 million new shares.
Following the deal, Orion will hold 11 million shares in Trident, representing a 6.2% interest in the company.
Trident Chief Executive Officer Adam Davidson commented, "The completion of the acquisition of the Pukaqaqa Royalty Package increases our copper exposure with royalties over a large, long-life asset operated by an established mid-tier miner with deep roots in South America."
"We are delighted to have completed this transaction with Orion, which continues to demonstrate itself a professional and friendly counterparty, and we look forward to exploring further opportunities to transact with them in the future."
Shares in Trident Resources were up 0.8% at 38.29 pence on Thursday in London.
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
TRR.L