As you remember, Los Azules Copper project is located in San Juan province in Argentina. Barrick Gold's Huge Pascua Lama project is located in the same province on the boarder of Argentina and Chile. This ongoing development will be very positive for Argentina mining and Los Azules Copper project, providing the potential catalyst to TNR Gold.
"Copper M&A, Mining In Argentina And TNR Gold's Los Azules Copper Back-In Right.
Particularly important for Los Azules Copper Project are the efforts by the government of Argentina "to overturn Barrick Gold's Pascua Lama freeze in Chile." Both projects are located in the same San Juan province in Argentina which is considered to be one of the most mining friendly in the country. You can find more about our Los Azules Back-In Right in the presentation below and you can always contact us to discuss it."
"The sale of our Back-in Right will provide the necessary liquidity and catalyst to all of our group of companies. Rob McEwen has done a great job as Operator developing this project and now Los Azules is at the top of the list of the best copper projects in the world available for sale, according to PI Financial! I would recommend to contact Jim Mustard VP at PI Financial to get more information about Los Azules Copper project and our Back-In Right Asset."
Financial Post reports: "Barrick Gold Seeks To Restart Suspended Pascua-Lama Project After Meeting With Top Chilean Officials":
"SANTIAGO — Barrick Gold Corp, the world’s No. 1 gold miner, has met with Chilean officials and is keen to move forward with its suspended Pascua-Lama gold and copper project, in which it has already invested more than US$5 billion, Chile’s new mining minister told Reuters...
“We received Barrick a few days ago,” Williams said in her first interview with a foreign news organization.
“They’ve showed us their interest in solving (Pascua-Lama’s) problems and doing community work, which to us appears correct … What I understand is that there’s interest that the project continue.” Financial Post."
This new push from Barrick Gold to restart Pascua Lama signifies the very important momentum for the company and Argentina's mining landscape - rumours about potential Chinese involvement in this project could become true one day. It looks like company knows now what to do with this huge large scale project and Argentinean government is lobbying Chilean officials as well.
Lumina Copper with its Taca Taca copper project is moving to the upside again recently and has retaken CAD6.00 level. Investors must be taken all recent developments in Chinese Copper M&A positively and they are warming up to Argentina Copper assets.
In another news McEwen Mining has held its AGM and you can find videos and presentation on the company website. According to his presentation, Rob McEwen moves Los Azules project forward now and conducts Additional Metallurgical Testing and Examines Potential For Smaller / High Grade Mine. In case of positive outcome of these studies, it should help to reduce the initial CAPEX, payback period of the project and will allow to further improve Los Azules economics potentially.
"Maybe you have heard about our legal battle for the Los Azules Copper project in Argentina? Gary Schellenberg, our founder, have found this prospect in Argentina at the turn of the century and now it has grown into The One of The Largest Copper Deposits of The World, according to McEwen Mining!After our settlement with McEwen Mining TNR Gold has reinstated its Back-In Right to the Northern Part of the project and received 1 million shares of McEwen Mining. You can find more information in our Q&A on the Los Azules Settlement and in presentation below. All technical information is presented very good at McEwen Mining - The Operator on Los Azules, and it is always a great idea to give us a call or just contact me directly to get the latest info. We have hired PI Financial to market our Los Azules assets and now the time is coming to receive the benefits of this world class asset.I personally find it very positive that Chinese Minmetal Group has purchased huge Las Bambas Copper project from Glencore a few weeks ago for $5.85 B. All copper market M&A activity is getting the very positive vibe now and it will help us to work with Los Azules Copper asset. Our strong ties to China with International Lithium help us to open the doors and news about "Chinalco Mining Sets Sights On Copper Projects In Latin America" are very positive as well.Argentina was not the best place for mining for the last couple of years, but now I can see a lot of positive developments. After Repsoil compensation, Chevron has stricken major deal for Shale Gas and Oil development. Yamana Gold, Gold Corp, Silver Standard - all have commented positively on Argentina mining climate recently and continue their investments in the country. Going forward it should improve the valuations and investment appetite for the projects like Los Azules. The sale of our Back-in Right will provide the necessary liquidity and catalyst to all of our group of companies. Rob McEwen has done a great job as Operator developing this project and now Los Azules is at the top of the list of the best copper projects in the world available for sale, according to PI Financial! I would recommend to contact Jim Mustard VP at PI Financial to get more information about Los Azules Copper project and our Back-In Right Asset."