Trident Royalties Share Discussion Threads

[mwj1959] 20/4/2024 17:33

Agreed. Jam tomorrow for a big chunk of the portfolio not sufficient in the current environment to move the share price. One for the (very) patient!

[lurker5] 20/4/2024 15:52

The market doesn't 'appreciate' anything at the moment. It wants to see delivery, not hopes. Affecting miners particularly. It won't 'appreciate' TRR for another year.

[nickelmer] 18/4/2024 17:14

Lithium America's issue new shares at 25% discount to enable faster development of Thacker Pass project, should be positive for Trident if production dates are brought forward.

[donald pond] 18/4/2024 12:28

Copper continues to be very strong. TRR must be seeing a step change in revenues

[carcosa] 16/4/2024 19:20

Maybe of interest to some:



Wall Street Journal takes an inside look at two projects that are seeking to change the mineral supply chain, the Thacker Pass Lithium Mine in Nevada and the Tamarack Mine in Minnesota.

[bo doodak] 14/4/2024 02:01

Interesting comments re Ford and GM.

[0x3f] 12/4/2024 17:48

Sold a chunk of ECOR and bought in here. Seem much more communicative than ECOR, the CEO comes across much better. With Nickel issues, seemed sensible to diversify and quite like the gold exposure in the current environment.

[the deacon] 12/4/2024 09:41

Yes, frustrating. Some key assets aren't too far away from contributing either. We should see some income from La Preciosa this year, with silver production ramping up into 2025. B2Gold could have Dandoko in production later this year too. We may well see an increase in volumes from our gold offtake portfolio too, as operators try to take advantage of the favourable price environment. Plenty of copper developments too in the portfolio, as the price firms. Everything of course backstopped by construction at Thacker Pass. A lot to like, and not being appreciated at all by the market

[donald pond] 12/4/2024 09:28

It is bizarre to see such strength in the commodities markets and yet TRR, which should be a leveraged play on it, not moving at all. I get that many of our assets are not yet in production and lithium is way off its aths, but that shouldn't affect the valuation of the assets

[lurker5] 10/4/2024 18:46

I don't think TRR will break much above present levels until earnigs turn convincingly into the black. Miners don't, and don't ever, approach a theoretical NPV valuation (because it is an illogical concept). Investors only value them on a yield or PER basis. TRR looks to be at least a year or two before they can do that

[the deacon] 10/4/2024 14:48

Thanks Kannerwas. Yes, Greenstone isn't a big deal for TRR, though every bit helps. Today's volatility certainly does...

[kannerwas] 10/4/2024 14:34

The 'prevailing period' for Greenstone is 6 days.

If TRR could make a turn of $20 per ounce on average - quite a big 'if' I would think - that should add $1.17m a year to revenue.

Thacker Pass is not expected to start production until 2028 - the time frame having moved back two years in the past two years. Still it is true that the new funding greatly de-risks the project.

[the deacon] 10/4/2024 09:26

The gold offtakes are essentially margin clips. They'll buy the gold they're entitled to for the lowest spot price in the agreed prevailing period (usually 7-14 days) and sell it on at spot. So irrespective of what gold is doing, its a volatile price environment where they'll do best - assuming the appointed trading house is up to the task.

[888icb] 10/4/2024 09:18

Thacker Pass is being developed and will start production in 2026. General Motors the largest shareholder will take all the initial lithium production. So you are correct in thinking the value of Thacker Pass continues to increase. We should be primed for a break higher but this will largely be based on the Gold assets that are producing cash, which will increase due to gold reaching all time highs.

[ukgeorge] 10/4/2024 09:08

Looks primed for a bit of a break higher. Although Thacker Pass is many years out, surely them getting the IRA funding has made that asset worth a lot more/massively increased the chances of it being developed.

[ukgeorge] 10/4/2024 09:01

Just bought 10k @ 35.5p

[donald pond] 09/4/2024 17:15

Trr entitled to 100% of production up to 58.5k oz, so we get the first stuff worth $138m at current prices. That's my understanding anyway

[the deacon] 09/4/2024 12:26

Equinox commences ore processing at Greenstone https://www.newsfilecorp.com/release/204785/

[the deacon] 08/4/2024 15:47

Silver continuing to climb from $27. La Preciosa about to come into production at just the right time for TRR

[damayhill] 08/4/2024 15:33

888ICB, whilst it's true that the lithium price in 2024 is not of consequence to the TRR bottom line this year or next, it's also true that the future financial modelling has to be based on some assumption (Tamesis use Lithium Carbonate Price US$20,000/t) and it's also true that the current price has settled below that level (if you can call it settling!) for a good five months now.

I remain very optimistic about TRR and recently added again, but I'm not sure it's fair to say that the current Li price or p1nkfish's observations about it are irrelevant.

[p1nkfish] 06/4/2024 22:13

Good luck and I hope it gives good returns for you.

[888icb] 06/4/2024 20:31

The lithium price in 2024 is of no consequence to TRR as Lithium America will not be producing lithium until 2026. TRR has never expected income from Li this year or next so not sure why you think your comments are relevant. The Gold royalties and takeoffs are producing income and the current high gold price is likely to be sustained according to many analysts and commentators.
The initial production from Thacker Pass is going to General Motors who are their largest shareholder. It will be the case that a minimum lithium price has been agreed to make the project profitable so personally I am comfortable that the Thacker Pass royalty will be a very profitable investment for TRR.

[p1nkfish] 06/4/2024 19:11

I don't think you are necessarily wrong but Li has suffered and when the ultimate sell-off does happen Gold will go down with everything as it always does.


Here are some key points about the recent trends in Lithium prices:

"As of April 2024, Lithium carbonate prices in China are currently trading around 108,500 yuan per metric ton, which reflects a substantial decline of nearly 70% compared to the same period last year.

Goldman Sachs has cautioned that it is premature to anticipate an end to the plummet in prices for battery raw materials. Significant supply pipelines and challenges from Western electric vehicle dynamics could prolong the period of lower prices.
The projected surplus for lithium in 2024 remains considerable, and prices are anticipated to decline by 25% over a 12-month horizon."

[888icb] 06/4/2024 15:49

The Directors clearly believe this is very undervalued. There have been 8 Director purchases this year with 5 of them in March. The current recovery in commodity prices particularly gold, which TRR has much of its current income from, will soon start to show in its financial statements. TRR is very undervalued and it’s time for that to correct.

[damayhill] 04/4/2024 09:51

Just weighing in behind mwj1959, I 100% agree that this is one for the patient and not for the short-termers/traders. I'm happy to take a 10yr view here.