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Trident adds Lake Rebecca royalty

London-listed royalty newcomer Trident Royalties has picked up its fifth royalty in four months: a 1.5% NSR in Apollo’s Lake Rebecca gold project in Western Australia.
Trident adds Lake Rebecca royalty Trident adds Lake Rebecca royalty Trident adds Lake Rebecca royalty Trident adds Lake Rebecca royalty Trident adds Lake Rebecca royalty

Operator Apollo published an MRE for Lake Rebecca in Western Australia of 1.035Moz in February

Staff reporter

Trident will pay A$8 million for the royalty, which CEO Adam Davidson said would become a "cornerstone asset" for the company.

Apollo published an MRE for Lake Rebecca of 1.035Moz in February.

Drilling highlights since February included 40m at 5.06g/t Au, 19m at 5.90g/t Au, 12m at 6.73g/t Au and 51m at 2.90g/t Au.

"At this early stage, Trident believes that Lake Rebecca is on track to support a circa 100koz/a operation, located in a desirable jurisdiction being supported by gold prices at close to all-time highs," said Davidson.

Trident debuted on AIM in June with a £16 million initial public offering.

Its first acquisition was a 1.5% FOB revenue royalty on part of the Koolyanobbing iron ore deposit and mine in Western Australia operated by Mineral Resources. This was followed by a 1.25% gross revenue royalty on the Mimbula copper mine in Zambia operated by Moxico Resources, a scaling gold royalty on the Spring Hill gold project in Australia operated by PC Gold, and a portfolio of four exploration and development stage gold royalties in Western Australia from Talga Resources.