London Stock Exchange welcomes Trident Resources plc to AIM
London Stock Exchange today welcomes Trident Resources (soon to be Trident Royalties), a new growth-focused mining royalty and streaming company, to AIM.
Trident plans to rapidly establish itself as a diversified mining royalty and streaming company by constructing a portfolio to broadly mirror the commodity exposure of the global mining sector, with a bias towards production or near-production assets. Trident considers mining royalty and streaming assets to represent an attractive opportunity for investors, providing exposure to commodity prices with a typically lower risk profile than mining equities, allowing participation in growth from development and exploration expenditure, without the associated cost or dilution to the holder of the royalty or stream.
The Company has raised £16 million and has joined AIM with a market capitalisation of approximately £20.7 million. The Company intends to use the new funds to support its growth plans by acquiring royalties and streams across a range of mining-friendly jurisdictions worldwide, targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players.
Adam Davidson, Chief Executive Officer of Trident commented:
“With the completion of our recently announced £16 million equity financing and AIM admission, we have developed a strong platform from which to deliver our strategy. Our focus is now on executing on our pipeline of transactions and assessing new opportunities, ranging from new primary transactions to the acquisition of existing royalty and streaming assets, as well as portfolio transactions in the secondary market.
We look forward to life as an AIM quoted royalty and streaming company and will be updating shareholders on our further progress in due course.”
Trident’s advisers to its AIM admission included:
- Grant Thornton LLP (Nomad)
- Tamesis Partners LLP (Financial Adviser and Joint Bookrunner)
- Ashanti Capital Pty Ltd (Financial Adviser and Joint Bookrunner)
- Azure Capital Ltd (Financial Adviser and Joint Bookrunner)
- Bryan Cave Leighton Paisner LLP (UK legal counsel)
- PKF Littlejohn LLP (Reporting Accountant)
- Yellow Jersey (PR adviser to the Company)