Trident Royalties PLC Notes Rising Bid War Portfolio for Apollo Consolidated
Gold royalties for potential producers of 100,000 ounces and more per year are relatively rare
Trident Royalties PLC (AIM: TRR) has taken note of further announcements made by Apollo Consolidated Ltd (ASX: AOP), ASX-listed Ramelius Resources and ASX-listed Gold Road Resources regarding the proposed acquisition of Apollo .
Trident owns a 1.5% net smelter gold return royalty on the Apollo Lake Rebecca flagship gold project in Western Australia.
The royalty covers the entire project and its gold resources of 1.1 million ounces.
“Trident is pleased to note the continued and increasingly competitive commercial activity involving Apollo and its flagship Lake Rebecca project, which now has two publicly active ASX listed gold companies vying for control of the project.” , said Adam Davidson, CEO of Trident. .
“The interest reaffirms the quality of the Lake Rebecca project as one of the best undeveloped gold projects in Australia and adds credence to Trident’s original positive view of the asset. Ramelius and Gold Road are both well-capitalized Western Australian gold producers with the in-house expertise and experience required to successfully transition Lake Rebecca from its current stage of resource creation to development and to the operation of the mine.