Trident Royalties PLC Announces 2023 Full Year Results

LONDON, UK / ACCESSWIRE / May 2, 2024 / Trident Royalties Plc (AIM:TRR)(OTCQB:TDTRF), the diversified mining royalty company, today announces its full year results for the year ended 31 December 2023. The Annual Report and Accounts for the year ended 31 December 2023 and Notice of the 2023 Annual General Meeting will be made available to download from the Company's website at www.tridentroyalties.com in due course.

Chairman's Statement

The last year has been challenging for the global financial industry: in 2022, geopolitical tensions rose with a war in Ukraine and then, in 2023, war broke out in the Middle East. Both have potential for escalation, as we have seen with the recent attacks on ships in the Red Sea. Grant Shapps, the UK Defence Secretary, described the world as moving from a post-war period to a pre-war period where "combined threats risk tearing apart the rules-based international order."

Within the mining industry, we experience these rising geopolitical tensions through an ever- shrinking field on which it is prudent to invest.

Twenty years ago, China, India and Russia were open for foreign resource investment, but this is no longer the case. In the last ten years, large parts of Africa have been effectively closed to Western investment with military coup d'etats in Sudan, Guinea, Burkina Faso, Niger, Mali, Gabon and Chad. In more recent years, several Central and South American governments have been elected by a populace more sceptical of the mining industry with Panama, in 2023, choosing to permanently close its world-class Cobre Panama Mine in the face of political protests.

Taking these factors into account, the supply side of our industry is going to face increasing challenges whether from regulatory delays, community dissent or events of expropriation. The Mining Journal's World Risk Report amply demonstrates this where the number of mining jurisdictions that are considered high risk has increased from 18 to 36 in the last five years. We can expect commodity prices to rise over time due to these difficulties, as well as the entirely appropriate, but ever-increasing, costs associated with developing mines in serenity with modern community, environmental, safety and other standards.