Gold Royalty

Project: Warrawoona

Commodity Gold
Location Western Australia
Stage Development (in construction)
Operator Calidus Resources (ASX:CAI)
Mining method Open pit

Global Resource Estimate (JORC 2012)

Measured 2.3Mt @ 1.0g/t – 72koz
Indicated 30.4Mt @ 1.0g/t – 982koz
Inferred 11Mt @ 1.33g/t – 442koz
Total 43.7Mt @ 1.1 – 1,495koz

Global Reserve (JORC 2012)

Proven and Probable 13.6Mt @ 1.2g/t – 519koz

Royalty Tenements

Tenement M45/1290 & E45/3381

Source: Calidus Resources (See announcement dated 29 June 2020 for Reserve & Resource breakdown.)

Trident owns a 1.5% Net Smelter Royalty (“NSR”) covering the down dip extension of the main 1.5MOz orebody at the Klondyke deposit. The royalty covers M45/1290, which was recently converted to a mining lease from E45/3381, and contains a portion of the Klondyke Indicated and Inferred Resource as well as several “high priority” targets as defined by the operator, ASX listed Calidus Resources. The broader Warrawoona Gold Project, of which Klondyke is the main orebody, is currently in construction with first gold expected in the first half of 2022.

The royalty covers mining lease M45/1290, which was recently converted from exploration lease E45/3381. The two tenements form part of the broader Warrawoona Gold Project, owned and operated by ASX-listed Calidus Resources (ASX:CAI). The royalty zone hosts the eastward strike extensions of the Klondyke Resource and appears to include a portion of the Indicated and Inferred Resource at Klondyke. 

Calidus executed final agreements with Macquarie Bank in April 2021 for project loan facilities totalling A$110M, which fully funds construction of the project. Calidus have engaged GR Engineering to construct the process plant at Warrawoona, with site activities underway. Calidus recently acquired the nearby Blue Spec mine, and a study in March 2021 highlighted the potential for the incorporation of Blue Spec to support an eight year mine life averaging 100koz/pa with additional study work due in H1 CY2022.

Shaded region represents the approximate area of royalty interest