UK's Trident Royalties to acquire royalty assets for $7 mln

Trident Royalties Plc, a UK mining royalty company, plans to buy royalties and a milestone payment over the La Preciosa Silver Project in Mexico from U.S. precious metals mining company Coeur Mining, Inc., for $7 million in cash.

The current owner of the project, Avino Silver & Gold Mines, intends to begin processing stockpiled material from La Preciosa in the late second half of 2023 before commencing production from fresh ore in 2024.

Moreover, the annual silver production from La Preciosa is expected to reach approximately 3 million ounces by 2027 and 3.5 million ounces by 2028.

With the acquisition, Trident will get near-term cash flow over an asset and new commodity exposure, adding silver to its portfolio that currently contains exposure to gold, lithium, copper, iron ore, and mineral sands.