Again, my math on this could be way off, and I don't pretend to be an expert in royalty agreements, but the Thacker Pass mine is hoping to produce 40,000 tonnes in 2027, ramping up to 80,000. That tonnage at even the current lithium price of USD$13,500/ton equals USD$540m. Trident own 1% of that I think, so that would be USD$5.4m. Ignoring everything else, and assuming current revenue is constant, that would take revenue from Trident to about AUD$22m in that year. Based on that, the multiple paid now isn't as bad.
Still, above is probably full of errors and bad assumptions. I am just trying to understand the thinking behind the purchase.
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