Trident buys Fe royalty

TRIDENT Resources has agreed to buy Fe Limited’s Evanston iron ore royalty, the ASX-listed junior’s main source of income, for A$7 million in cash as Trident aims to transform itself into a London-based metals royalty and streaming company.

Trident buys Fe royalty Trident buys Fe royalty Trident buys Fe royalty Trident buys Fe royalty Trident buys Fe royalty

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FEL, which had just $580,000 cash at the start of the year, will gain an initial $4 million, following various shareholder and regulatory approvals, with the balance due on the first anniversary.