Trident's deal with Talga Resources to acquire gold royalties on four projects in the Pilbara and Yilgarn regions of Western Australia for A$800,000 (US$575,000) gives the company another early-stage link to the moving gold exploration and development bandwagon in the Australian state.

"In particular, we are excited to follow the progress of Novo Resources and Calidus Resources as they advance their respective projects," Davidson said.

"The [Talga] royalty package adds further depth and breadth to our growing portfolio and will provide our investors with exposure to a package of attractive underlying assets, located in a desirable jurisdiction being supported by gold prices at close to all-time highs.

"We're encouraged by the attractive opportunities available to Trident and anticipate additional transactions in 2020 as we continue our progress toward becoming the pre-eminent, growth-focused diversified mining royalty and streaming company."

Trident shares (LSE:TRR) were up more than 6% early today at 32p, capitalising the company at GBP33 million.