CAPITAL MARKETS

Trident launches on LSE

Three-pronged approach for company looking to buy a project with institutional cash

Staff reporter

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The company joined the exchange with a market capitalisation of £4.4 million (US$5.74 million).

Trident did not outline any specific project type it wanted to buy, with the selection criteria including "assets in the advanced exploration, pre-production or production stage … with a specific focus on the precious and base metals sectors along with ‘battery industry' related minerals".

Despite the vague plans, Trident non-executive chairman James Kelly has assembled a strong group of investors, including LIM Asia (15.9%), Tribeca Global Resources (12.7%) and entities linked to Ashanti Capital (8.3%).

"We are excited to be listing on the LSE with our strong register of institutional investors, which bears testament to the strength of our business model," Kelly said.

Kelly is joined by Ashanti broker Carmichael Olowoyo and lawyer Sam Delevan Quinn on the board.

The company has £4.1 million with which to find a project following the IPO.

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