StockMarketWire.com - Mining group Trident Resources said it had agreed to acquire for $5m a revenue royalty from Moxico Resources over production from the operating Mimbula copper mine in Zambia.
Trident would be entitled to royalty payments on production commencing from 1 July and extending in perpetuity.
The asset was currently ramping-up production, having sold its first London Metal Exchange registered copper this month.
The Mimbula mine had a mineral resource of 84 m tonnes of ore grading 0.95% copper for a total of 798k tonnes of contained copper at a 0.3% cut-off.
At 9:47am: [LON:TRR] Trident Resources Plc Ord 1p share price was +1p at 20p
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