TNR Gold issues update on its NSR royalty at McEwen Mining-owned Los Azules copper project in Argentina
McEwen recently closed the third and final tranche of a private placement totaling $81.85 million
Company
CVE:TNR
TNR Gold Corp. is working to become the green energy metals royalty and gold company. The company's business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.
127 stories · page 2 of 2
McEwen recently closed the third and final tranche of a private placement totaling $81.85 million
“The company's strategy with the Shotgun Gold Project is to attract a partnership with a major gold mining company,” TNR Gold CEO Kirill Klip said
Intercepts included 222 metres (m) of 0.95% copper (Cu), including 44.0m of 1.38% Cu; 238m of 0.58% Cu, including 10.0 m of 1.10% Cu; and 194m of 0.56% Cu, including 8.0 m of 1.04% Cu
“By monetizing part of our royalty holdings, we are providing a very important benchmark for valuations of assets in our royalty portfolio and generating very significant capital, while selling to LRC only a portion of our royalty holding o
McEwen announced results from three drill holes this week and closed the second trance of a private placement
TNR cited a release from McEwen Mining on May 4 this year, which noted that Goldman Sachs forecasts that copper has only two years of supply growth left (2022 and 2023) and sees an open-ended supply decline starting from 2024
Josemaira’s flagship asset is the Josemaria copper-gold project in Argentina, on which TNR holds a 7% net profit interest royalty covering the Batidero I and II properties
The company holds a 2% royalty on the project in Argentina
The company said the proceeds of the offering will be used for exploration, maintenance of the Shotgun Gold project, and for general working capital purposes
Each unit consists of one common share of the company and one-half of a non-transferable common share purchase warrant, with each whole warrant exercisable into one common share of the company at an exercise price of $0.075 per share for tw
The proceeds of the private placement will be used for exploration, maintenance of the Shotgun Gold project and for general working capital purposes
The company said proceeds from the offering will be used for exploration and maintenance of its Shotgun Gold project and for general working capital purposes
'We can now concentrate our efforts on building this green energy metals royalty and gold company by maximizing the value of our royalty portfolio of lithium, copper, gold and silver projects that are instrumental in the electric vehicle an
Proceeds of the private placement will be used for exploration, maintenance of the Shotgun Gold project and for general working capital purposes.
The exploration road is reopened, three work camp sites are established, an expanded local labor force and preparations are underway for starting a 10-drill, 53,000 metre drilling program, according to operator McEwen Mining
The deal included confirmation that Ganfeng's subsidiary, Litio Minera Argentina, would assume all rights or obligations that ILC had in respect of the Mariana property
TNR is transforming itself into the go-to gold and energy metals royalty company
According to TNR, billionaire Rob McEwen's investment corporation, Evanachan Limited, purchased all the shares issued in the first tranche of the private placement
In 2009, TNR founded International Lithium Corp (ILC), which owned the Mariana Lithium project in Salta Province, Argentina, and TNR retains a 1.8% net smelter returns royalty on the asset
The report, prepared by Ganfeng Lithium, indicated 6,854,000 tonnes of lithium carbonate equivalent in the Measured and Indicated Resource categories, an increase of 55% over the 2019 estimate
The royalty company holds a 0.36% NSR royalty on the entire Los Azules project containing copper, gold, and silver metals
TNR has exposure to three sizeable projects, two in Argentina and one in Alaska
Shotgun is a porphyry-style gold mineralized system that is being targeted for a bulk mineable gold resource
TNR Gold’s track record of successful deals with majors like Ganfeng and McEwen Mining should stand it in good stead as manoeuvring continues on the Tintina gold belt
TNR could have millions of ounces of gold at Shotgun
Proactive's mining analyst, Dr Ryan Long takes a look at TNR’s royalty portfolio and Shotgun Gold Project.