Trident received US$375,000 of royalty payments in the fourth quarter of 2021, almost all from its Mimbula copper project in Zambia.

The Mimbula copper royalty is set to increases to US$500,000 per quarter in 2022 and US$750,000 per quarter for the first two quarters of 2023.

Increased royalties from existing projects, and a 350% increase in Trident's producing assets through acquisitions in the fourth quarter of 2021, will send revenues for the company up further in 2022, Trident said.

The diversified royalties and streaming company has been on a buying spree across the metals space, with revenue from gold, copper, and iron ore expected in 2022, with hopes of a lithium stream.

"We are gaining scale with 21 assets now in the portfolio, 9 of which are generating cash," Adam Davidson, chief executive officer of Trident said. Importantly, within the portfolio a number of assets are approaching key milestones which provides the potential for near-term material organic growth without the need to deploy additional capital."

 

The Koolyanobbing iron ore mine in Australia, operated by Minerals Resources, delivered only nominal royalties in 2021. But mining activity started on Trident's royalty tenure in the fourth quarter, with tonnages mined but held for sale in the current quarter.

And January 2022 also saw the acquisition of a portfolio of immediately cash generative gold offtakes, set to deliver US$13.3 million in revenue in 2022.

Trident recently announced it has a right to acquire an interest in the advanced stage Sonora Lithium project, pending litigation. If the deal goes through, cash flows to the company are expected  

First gold pour is also expected at the Lincoln Gold Project in California in 2022.

As of 31 January 2022, Trident's unaudited cash balance was roughly US$17.2mln, which does not include Q4 royalty receipts.

Trident shares were up 6.9% at 43.84p at 11.31 London time.