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Trident Royalties PLC (LON:TRR) (FRA:5KV) said it received royalty payments amounting to just over US$480,000 in the third quarter of 2020.

During the period the company announced three transactions over a total of six royalties.

The royalty from Koolyanobbing amounted to A$652,073, taking the total received for 2020 to just over A$2mln. The total royalty revenue from Koolyanobbing over the first three quarters alone represents more than 30% of the royalty purchase price recovered.

The company also received an inaugural payment from the Mimbula copper royalty.

Trident had a cash balance of US$12.68mln as of September 30, 2020.

Trident currently has six active non-disclosure agreements (NDAs) under which it is reviewing a range of opportunities in nickel, copper, zinc, gold and battery minerals.

“We are very pleased with Trident’s progress over the third quarter of 2020,” said Trident chief executive Adam Davidson in a statement.

“In a short period of time, we have added an additional six royalties to the portfolio – providing investors with precious metals exposure spread across a number of assets in one of the world’s premier mining jurisdictions. Meanwhile, both copper and iron ore prices remain strong, providing a positive outlook for Trident’s existing paying royalties. In addition, gold prices remain near all-time highs, supporting the continued advancement of Trident’s precious metals exploration and development-stage royalties.”

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