LONDON, UK: Trident Royalties Plc has announced its acquisition of royalties and a milestone payment over the La Preciosa Silver Project in Mexico from Coeur Mining, Inc. for a total of $7 million in cash.
The acquisition will provide Trident with near-term cash flow over an attractive asset and new commodity exposure, adding silver to its portfolio that currently contains exposure to gold, lithium, copper, iron ore, and mineral sands.
La Preciosa is one of the largest undeveloped primary silver resources in Mexico, with a current total Mineral Resource estimate of 120 million ounces of silver and 224,000 ounces of gold. Avino Silver & Gold Mines, the current owner of the Project, intends to begin processing stockpiled material from La Preciosa in late H2 2023 before commencing production from fresh ore in 2024. The annual silver production from La Preciosa is expected to reach approximately 3 million ounces by 2027 and 3.5 million ounces by 2028.
Adam Davidson, Chief Executive Officer of Trident, expressed his delight with the acquisition, adding that La Preciosa is a highly attractive, long-life asset that will start generating cash for Trident in the near-term. The acquisition further adds to Trident’s rising cash profile that the company sees over the coming years. The acquisition demonstrates Trident’s ability to add value for shareholders, he added.
Paul Smith appointed non-executive chair of Trident Royalties Plc