21st Aug 2023 11:07
(Alliance News) - Trident Royalties PLC on Monday said it is buying an interest in a royalty over the Dandoko gold project permit area in western Mali.
Trident Royalties, a London-based diversified mining royalty company said it is buying a 50% interest in a 2% net smelter royalty over the project permit area. The site is owned by B2Gold Corp Ltd, which has a market capitalisation of around USD3.9 billion.
Dandoko is the flagship asset of Oklo Resources Ltd, which was bought by B2Gold in September 2022 for AUD91.3 million.
It is located 25 kilometres from B2Gold's operating Fekola mill, which is B2Gold's largest asset with a targeted output of 580,000 to 610,000 ounces of gold in 2023.
Trident Chief Executive Officer Adam Davidson said: "Dandoko is a highly attractive royalty on an asset operated by a senior producer, close to existing processing infrastructure, with a demonstrated pathway to production and significant exploration upside."
Trident Royalties shares rose 3.4% to 43.70 pence each on Monday morning in London.
By Tom Budszus, Alliance News reporter
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