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Trident Resources lists on Aim, Metal Tiger shares bounce accordingly

In time, the royalty portfolio will be set up to mirror the broader global mining sector

Trident Resources PLC -

Trident Resources PLC (LON:TRR) has listed on Aim.

The company will shortly change its name to Trident Royalties PLC, and will embark on a strategy of building a new, growth-focused mining royalty and streaming company.

The listing follows a placing that raised £16mln from the issue of 80mln shares at 20p.

Metal Tiger PLC (LON:MTR), the London mining finance house that made millions investing in copper in Botswana, took an initial £570,000 stake.

The company's shareholder base also includes leading institutional investors such as LIM Asia Special Situations Master fund, Regal Funds Management, Tribeca Investment Partners and Terra Capital Natural Resources Fund.

Long-term, it’s intended that Trident’s royalty portfolio will mirror the global mining sector, with a bias towards production or near-production assets.

By mid-morning, Trident shares were up 3.5p from the placing price, at 23.5p.

Metal Tiger shares were up by just shy of 10% at 2.53p.

 

Quick facts: Trident Royalties PLC

Price: 30 GBX

LSE:TRR
Market: LSE
Market Cap: £31.05 m
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