Ann: Recommended Cash Offer to Acquire Trident Royalties Plc, page-70

interesting take on the current situation. I think many were happy with DRR the way it was and I believe the yield was closer to 9% when franking was taken into consideration (based on my entry price). Borrowing money to increase the overall size of FUM but diluting the returns with lower yielding assets (many presently yielding zero) is what upset people. A better argument from management as to how this is to the benefit of existing shareholders needs to be made; the 20% reduction in SP after the announcement is proof alone that it’s unpopular. There is no guarantee that Thacker Pass will go into production on any time line, only hope. Other assets in the purchased portfolio have been mothballed since the announcement and are not producing royalties. The premium paid for this package was also on the nose given the current state of lithium and REE in general.

please can you add more of your thoughts and research to expand on your sentiment on this topic, Im genuinely keen to here some positives as they seem rather scant around here of late.

cheers