LONDON (ShareCast) - (Sharecast News) - Mining royalty and streaming company Trident Royalties issued a positive trading update on Wednesday, after a "transformational year" in 2021.
The AIM-traded firm, which was holding its annual general meeting, said it completed four investments during the year, followed by the acquisition of the gold offtake portfolio in January.

Non-executive chairman Paul Smith said that brought the total number of assets to 22, of which 12 were now producing.

"The impact of these transactions was reflected in our first quarter results, which saw a 400% year-on-year increase in royalty receipts," he told shareholders.

"Trident's business model is well suited to the current economic environment as it provides investors with exposure to commodity prices but largely without the associated inflation in operating and capital costs."

Smith said appetite for mining development capital was continuing strongly, with royalties "likely to be an increasingly important component" given more challenging public markets.

"We believe we are well placed to continue to create value for our shareholders and we look forward to providing updates over the course of the year."

At 1308 BST, shares in Trident Royalties were down 4.91% at 43.74p.

Reporting by Josh White at Sharecast.com.

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