Monday, 24 December 2018
Saturday, 22 December 2018
The Green Energy Metals Royalty Co.: I Fell Into This Business Model When Bought Shares In Gold Mining Royalty Company Royal Gold For About $5 Each.
"Renowned mining investor Frank Holmes has spoken out about his fondness of mining royalty companies.
In terms of value proposition, they outperform mining equities and serve the important role of connecting exploration plays with financiers during lean bear markets, he says.
Kirill Klip, CEO and President of TNR Gold Corp. (TSXV: TNR), fell into this business model when he bought shares in gold mining royalty company Royal Gold for about $5 each, back when gold traded at $300 an ounce (it hasn’t traded in the $300s since 2003). He cashed out of that investment at over $70 a share and has been hooked on the royalty model ever since, where royalty proceeds funnel into new opportunities, he told InvestorIntel."
InvestorIntel: TNR Gold Fine Tuning Royalty Model For Green Energy Metals.
"Our GEMRoyalty business model helps us at TNR Gold to manage political, geological, technical and financial risks related to particular projects by participating in projects which are managed by industry leaders like McEwen Mining and Ganfeng Lithium. But a few more very important things must be talked daily about in order to create the ultimate strategy for success: how to build a business to benefit its long-term shareholders."
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Building The Green Energy Metals Royalty Co.: TNR Gold Los Azules Copper NSR Royalty Holding Presentation December 2018.
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Building The Green Energy Metals Royalty Company: TNR Gold Reports On Mariana Lithium Royalty Holding - Ganfeng Lithium JV In Argentina Announced PEA Results.
“The Mariana Lithium PEA study for ILC is the first preliminary economic study that provides a potential value for the total NSR Royalty from the project’s life of mine cash flow. TNR’s 1.8% NSR Royalty is an important part of TNR’s portfolio,” stated Kirill Klip, Executive Chairman of TNR. "The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cash flows to contribute significant value for our shareholders.”
“The Mariana Lithium PEA study for ILC is the first preliminary economic study that provides a potential value for the total NSR Royalty from the project’s life of mine cash flow. TNR’s 1.8% NSR Royalty is an important part of TNR’s portfolio,” stated Kirill Klip, Executive Chairman of TNR. "The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cash flows to contribute significant value for our shareholders.”
LEGAL DISCLAIMER
InvestorIntel:
TNR Gold Fine Tuning Royalty Model For Green Energy Metals.
| MAY 08, 2018 |
Renowned mining investor Frank Holmes has spoken out about his fondness of mining royalty companies.
In terms of value proposition, they outperform mining equities and serve the important role of connecting exploration plays with financiers during lean bear markets, he says.
Kirill Klip, CEO and President of TNR Gold Corp. (TSXV: TNR), fell into this business model when he bought shares in gold mining royalty company Royal Gold for about $5 each, back when gold traded at $300 an ounce (it hasn’t traded in the $300s since 2003). He cashed out of that investment at over $70 a share and has been hooked on the royalty model ever since, where royalty proceeds funnel into new opportunities, he told InvestorIntel.
Klip says his version of a royalty company is slanted towards metals with high exposure to usage in electrical vehicles – lithium, copper, and even gold. His most mature investment to date is a position in International Lithium Corp. (TSXV: ILC), in which TNR holds a 14.1% equity interest after convertible debentures and warrants are exercised and a 1.8% net smelter royalty (NSR) on the Mariana brine project in Argentina. The key to this project is the involvement of joint venture partner Ganfeng Lithium Co., one of China’s largest processors of the material.
But the investment that could return really big bucks is another NSR that TNR holds in the Los Azules copper project in Argentina, currently being developed by former Goldcorp founder Rob McEwen. TNR holds a 0.36% NSR royalty on the project, which could return $35 billion over a 35-year mine life. A looming copper crunch as the market could move into structural deficit by 2020 means that major mining companies are hungry to pounce on attractive projects being developed by juniors. A preliminary economic assessment shows that Los Azules could deliver 415 million pounds (188,241 metric tons) of copper production a year for the first ten years of mine life with cash costs of $1.11 a pound, according to TNR.
“Investors are putting a larger discount on our cash flow because people do not expect that McEwen Mining will put this project into production,” Klip said. “All majors are looking for a good copper project and there is more and more interest.”
Despite higher prices, other externalities have evolved in favor Los Azules. Investors have returned to Argentina thanks to the reformist policies of Mauricio Macri, who was elected president in 2015 following a decade of rule by protectionist policies by Cristina Fernandez and her predecessor and husband, Nestor Kirchner. Macri’s government fared well during key mid-term elections last October, providing investors with greater optimism that he will be elected to a second term next year. The Argentine government recently signed a bilateral agreement with Chile, a key milestone for Los Azules which straddles the border of both countries.
The third major component in TNR’s portfolio is the Shotgun gold project, located close to NovaGold and Barrick Gold’s Donlin project in Alaska. Early resource numbers suggest the project holds 20.7 million tons of ore with an average gold grade of 1.06 grams a ton, with a 0.5 g/t cut-off grade. Barrick and NovaGold’s project obtained a key environmental approval from the U.S. Army Corps of Engineers in April, indicating the government of Donald Trump is more amenable to mining in Alaska. Once again, external factors are moving in TNR Gold’s favor.
Klip’s next step with Shotgun is to find an exploration partner of the same caliber as McEwen. One of TNR’s board members, Greg Johnson, founded NovaGold and was instrumental in the discovery of Donlin. He is entrusted with the task of finding that partner, Klip said. Don’t bet against TNR repeating the success it has had so far in ILC and Los Azules."
Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this post; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.
GEM Royalty Co.: TNR Gold Shotgun Gold - Barrick, NovaGold Project In Alaska Gets Key Environmental Approval.
Who will start consolidation around Barrick's and NovaGold Donlin Gold project in Alaska?
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Friday, 21 December 2018
Building The Green Energy Metals Royalty Co.: TNR Gold Los Azules Copper NSR Royalty Holding Presentation December 2018.
"Our GEMRoyalty business model helps us at TNR Gold to manage political, geological, technical and financial risks related to particular projects by participating in projects which are managed by industry leaders like McEwen Mining and Ganfeng Lithium. But a few more very important things must be talked daily about in order to create the ultimate strategy for success: how to build a business to benefit its long-term shareholders."
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Building The Green Energy Metals Royalty Company: TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation.
Rob McEwen has presented Los Azules in Argentina as one of the largest copper projects in the world which could become "a World Top 25 Copper Producer". McEwen Mining September 2018 presentation provides a great report on all recent developments of infrastructure for this "sleeping giant" and is recommended for your further due diligence.
The cooperation agreement was signed between Chile and Argentina in 2017 which provides the necessary support from the governments and, in the recent conference call, Rob McEwen has confirmed that they are expecting to get to the permitting stage next year.
TNR Gold holds 0.36% NSR Royalty on the entire Los Azules deposit. In our presentation, you can find the necessary data presented in the McEwen Mining PEA in order to calculate the potential cash flow for our Company from this core GEM Royalty holding.
This is the essence of our business model when industry leaders are operators on the world-class projects providing TNR Gold in the future with the potential cash flow royalty streams. According to McEwen Mining PEA, 0.36% NSR Royalty undiscounted cash flow from Los Azules can be as high as 127M US Dollars over the life of mine.
Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this post; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.
Supply For Tesla Energy rEVolution. GEM Royalty TNR Gold NSR Copper Holding With McEwen Mining: "Los Azules - Our Sleeping Giant."
Security of Lithium Supply is in the headlines, finally. Discovery of the Copper place in Tesla Energy rEVolution will be next. Back into the future: with new record-low prices for Solar whole continents can skip the grid and fossil fuels based energy infrastructure. They can save trillions of dollars in associated CAPEX and move directly into 21st century Post Carbon Economy. Solar and Micro Grids can power Africa, India and South America. Copper is the red metal which is going Green supercharging electric cars and renewable energy infrastructure.
InvestorIntel: TNR Gold Fine Tuning Royalty Model For Green Energy Metals.
"But the investment that could return really big bucks is another NSR that TNR holds in the Los Azules copper project in Argentina, currently being developed by former Goldcorp founder Rob McEwen. TNR holds a 0.36% NSR royalty on the project, which could return $35 billion over a 35-year mine life. A looming copper crunch as the market could move into structural deficit by 2020 means that major mining companies are hungry to pounce on attractive projects being developed by juniors. A preliminary economic assessment shows that Los Azules could deliver 415 million pounds (188,241 metric tons) of copper production a year for the first ten years of mine life with cash costs of $1.11 a pound, according to TNR.
“Investors are putting a larger discount on our cash flow because people do not expect that McEwen Mining will put this project into production,” Klip said. “All majors are looking for a good copper project and there is more and more interest.”
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Wednesday, 19 December 2018
Building The Green Energy Metals Royalty Company: John Davies, Director TNR Gold - "It Is Of My Opinion That Blockchain Technology Is The Next Great Evolution Of Financing."
The future of blockchain technology is one of untold promise, and within banking it will provide a more efficient, cost effective and secure manner for transactions.
This will expedite investment, reduce barriers to entry and help further global economic growth. It is of my opinion that blockchain technology, is the next great evolution of financing. The evolution of 'crypto capitalism’ will further all stages of business, radically streamline costs and sure the highest possible amount of funds possible are solely directed to projects and connect global investment networks efficiently.
At TNR Gold we endeavour to analyse this process in depth, ascertain how blockchain technology can be utilised in the future for capitalisation efforts for not only our consideration but for the entire mining and exploration sectors and those involved in commodities.
TNR Gold, go beyond the Balance Sheet for we are the little company with the great ambition to better our world.
John Davies, Director TNR Gold Corp.
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Building The Green Energy Metals Royalty Company: TNR Gold Announces Strategic Initiatives - Convertible Royalty Debentures And Exploring Blockchain Technology In Order To Create Access To Capital Allocated For Crypto Assets.
"All junior mining companies are facing a lack of investment capital allocated to our sector in this part of the cycle. It is very difficult to raise capital on acceptable terms without excessive dilution for our shareholders by using only conventional avenues available for our type and size of the company; by issuing securities, using debt instruments or selling assets. We would like to proactively manage our capital base and start a strategic review of our royalty portfolio in order to optimize our holdings and meet strategic goals," stated Kirill Klip, Executive Chairman of TNR. "Among these strategic initiatives will be research and marketing of convertible royalty debentures - debt instruments allowing conversion directly into part-ownership of our royalty holdings; M&A activities aimed at creating partnerships on the basis of our royalty holding companies and exploring the opportunities provided by blockchain technology in order to create access to capital allocated for crypto assets. We are actively seeking partners who would like to connect their digital assets with our potential future royalty cash-flow streams."
Tesla Energy rEVolution And FinTech: How Blockchain Will Transform The Mining And Metals Industry.
We are discussing here the Tesla Energy rEVolution and the importance of mining and security of supply chains in order to make this transition to the Post Carbon Economy happen. Access to the advanced materials and Green Energy Metals are at the very base of the new distributed energy generation systems with smart grids which will power our future. The dramatic decrease in cost for Solar and Wind power generation is making it possible. Cheaper lithium batteries change everything. Now we can produce energy, store it and consume when we need it. Unbelievable performance of Tesla's electric cars clearly demonstrates the success in advancing of this technology.
Despite all incredible progress with the technology, which we are all enjoying at this moment, the very base of this leap into the future is still hardly revolutionized. Metals which are making all our gadgets tick are still at the mercy of the old multi-year long mining cycle. Extraction technology has improved, exploration is using more and more advanced methods, but still, you can hardly find really tectonic shifts which can break the cycle which is taking too long for the appetite of the modern investors. Maybe urban mining will become that thing when your exploration can be literally on the streets and the best extraction technology will define the success.
The other integral parts of the mining cycle: exploration and development of the new mining projects are literally in the free fall meaning that we are witnessing the very significant decrease in the amount of capital available for this activity and an even larger decrease in the number of the new projects being developed into the production stage.
Junior miners have been thriving for decades in this very important part of the mining cycle, but now financing flow available for this activity has dried up. Years of low commodities' prices, fear, uncertainty and doubt have pushed investors away from the junior mining sector. The demographic situation is not helping as well, Gold Bugs are facing extinction and millennials are chasing crypto bubbles.
There will be EToys and AtHomes of the crypto haze with found and lost fortunes along the way: there are more than 800 cryptocurrencies which are dead already. But if the Internet Revolution can provide us with any guidance the core technologies like Blockchain will stay. This sector has attracted and developed already a very significant pool of capital chasing the dreams.
All this situation can provide one of the best "Time Arbitrage" opportunities, as Mark Yusko - Morgan Creek Capital CEO - likes to talk about some of the investment ideas on his feed. Recent bloodbath in commodities was the result of the hotheads making even hotter headlines. Trade Wars come and go and unless there will be a total collapse of the financial system, critical commodities like copper will enjoy much higher prices. Actually, we can have now one of the best entry points in our sector now.
Price shocks are imminent and will be followed by the much higher prices for the Green Energy Metals. We have too mega trends colliding: The Switch to Clean Energy which will demand more and more energy metals like copper and production deficit which will be increasing every year with diminishing reserves and going down head grade. Resource nationalism will only exaggerate this looming supply deficit.
Our ability to cross this "digital divide" and connect capital chasing crypto bubbles with solid values provided by mining industry can determine the geopolitical future for many sectors of the evolving technologies like Solar, Wind, Energy Storage and Electric Cars. The alternative will be the Oligopolies controlling the supply of the critical commodities created by States and Sovereign funds backed by those states.
John Davies and I have started this conversation, which I would like to share with you today. The article below by Max Weiland provides some general ideas for integrating blockchain technology into the mining industry. I am personally very excited to explore these new opportunities which we can bring to our GEM Royalty TNR Gold. We would like to go further and find the way to engineer products which will be connecting capital allocated for FinTech sector and solid values provided by our potential Royalty cash flow streams in the future. This will be the ultimate "Time Arbitrage". We are open to all new ideas and partnerships. Please step in and share your ideas - you know where to find us.
Junior miners have been thriving for decades in this very important part of the mining cycle, but now financing flow available for this activity has dried up. Years of low commodities' prices, fear, uncertainty and doubt have pushed investors away from the junior mining sector. The demographic situation is not helping as well, Gold Bugs are facing extinction and millennials are chasing crypto bubbles.
There will be EToys and AtHomes of the crypto haze with found and lost fortunes along the way: there are more than 800 cryptocurrencies which are dead already. But if the Internet Revolution can provide us with any guidance the core technologies like Blockchain will stay. This sector has attracted and developed already a very significant pool of capital chasing the dreams.
All this situation can provide one of the best "Time Arbitrage" opportunities, as Mark Yusko - Morgan Creek Capital CEO - likes to talk about some of the investment ideas on his feed. Recent bloodbath in commodities was the result of the hotheads making even hotter headlines. Trade Wars come and go and unless there will be a total collapse of the financial system, critical commodities like copper will enjoy much higher prices. Actually, we can have now one of the best entry points in our sector now.
Price shocks are imminent and will be followed by the much higher prices for the Green Energy Metals. We have too mega trends colliding: The Switch to Clean Energy which will demand more and more energy metals like copper and production deficit which will be increasing every year with diminishing reserves and going down head grade. Resource nationalism will only exaggerate this looming supply deficit.
Our ability to cross this "digital divide" and connect capital chasing crypto bubbles with solid values provided by mining industry can determine the geopolitical future for many sectors of the evolving technologies like Solar, Wind, Energy Storage and Electric Cars. The alternative will be the Oligopolies controlling the supply of the critical commodities created by States and Sovereign funds backed by those states.
John Davies and I have started this conversation, which I would like to share with you today. The article below by Max Weiland provides some general ideas for integrating blockchain technology into the mining industry. I am personally very excited to explore these new opportunities which we can bring to our GEM Royalty TNR Gold. We would like to go further and find the way to engineer products which will be connecting capital allocated for FinTech sector and solid values provided by our potential Royalty cash flow streams in the future. This will be the ultimate "Time Arbitrage". We are open to all new ideas and partnerships. Please step in and share your ideas - you know where to find us.
Tuesday, 18 December 2018
Building The Green Energy Metals Royalty Company: TNR Gold Announces Strategic Initiatives - Convertible Royalty Debentures And Exploring Blockchain Technology In Order To Create Access To Capital Allocated For Crypto Assets.
"All junior mining companies are facing a lack of investment capital allocated to our sector in this part of the cycle. It is very difficult to raise capital on acceptable terms without excessive dilution for our shareholders by using only conventional avenues available for our type and size of the company; by issuing securities, using debt instruments or selling assets. We would like to proactively manage our capital base and start a strategic review of our royalty portfolio in order to optimize our holdings and meet strategic goals," stated Kirill Klip, Executive Chairman of TNR. "Among these strategic initiatives will be research and marketing of convertible royalty debentures - debt instruments allowing conversion directly into part-ownership of our royalty holdings; M&A activities aimed at creating partnerships on the basis of our royalty holding companies and exploring the opportunities provided by blockchain technology in order to create access to capital allocated for crypto assets. We are actively seeking partners who would like to connect their digital assets with our potential future royalty cash-flow streams."
"The future of blockchain technology is one of untold promise, and it may provide a more efficient, cost-effective and secure manner for transactions. This will expedite investment, reduce barriers to entry and help further global economic growth. It is of my opinion that blockchain technology is the next great evolution of financing. The evolution of 'crypto capitalism' will further all stages of business, radically streamline costs and ensure the highest possible amount of funds possible are solely directed to projects and connect global investment networks efficiently," commented John Davies, Director of TNR. "At TNR Gold we endeavour to analyze this process in depth, ascertain how blockchain technology can be utilized in the future for capitalization efforts for not only our consideration but for the entire mining and exploration sectors and those involved in commodities. TNR Gold goes beyond the balance sheet as we are the little company with a great ambition to better our world."
The Code: How To Survive In Junior Mining And Build The Green Energy Metals Royalty Company.
LEGAL DISCLAIMER
Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.
Building The Green Energy Metals Royalty Company: Interview With Executive Chairman Of TNR Gold
Kirill Klip.
"Our GEMRoyalty business model helps us at TNR Gold to manage political, geological, technical and financial risks related to particular projects by participating in projects which are managed by industry leaders like McEwen Mining and Ganfeng Lithium. But a few more very important things must be talked daily about in order to create the ultimate strategy for success: how to build a business to benefit its long-term shareholders."
TNR Gold Announces Strategic Initiatives
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2018) - TNR Gold Corp. (TSXV: TNR) ("TNR" or the "Company") is pleased to announce that the Company is launching strategic initiatives in order to investigate new opportunities for raising capital for a junior mining company.
"All junior mining companies are facing a lack of investment capital allocated to our sector in this part of the cycle. It is very difficult to raise capital on acceptable terms without excessive dilution for our shareholders by using only conventional avenues available for our type and size of the company; by issuing securities, using debt instruments or selling assets. We would like to proactively manage our capital base and start a strategic review of our royalty portfolio in order to optimize our holdings and meet strategic goals," stated Kirill Klip, Executive Chairman of TNR. "Among these strategic initiatives will be research and marketing of convertible royalty debentures - debt instruments allowing conversion directly into part-ownership of our royalty holdings; M&A activities aimed at creating partnerships on the basis of our royalty holding companies and exploring the opportunities provided by blockchain technology in order to create access to capital allocated for crypto assets. We are actively seeking partners who would like to connect their digital assets with our potential future royalty cash-flow streams."
"The future of blockchain technology is one of untold promise, and it may provide a more efficient, cost-effective and secure manner for transactions. This will expedite investment, reduce barriers to entry and help further global economic growth. It is of my opinion that blockchain technology is the next great evolution of financing. The evolution of 'crypto capitalism' will further all stages of business, radically streamline costs and ensure the highest possible amount of funds possible are solely directed to projects and connect global investment networks efficiently," commented John Davies, Director of TNR. "At TNR Gold we endeavour to analyze this process in depth, ascertain how blockchain technology can be utilized in the future for capitalization efforts for not only our consideration but for the entire mining and exploration sectors and those involved in commodities. TNR Gold goes beyond the balance sheet as we are the little company with a great ambition to better our world."
TNR Gold Corp. is working to become a green energy metals royalty company.
Over the past 22 years, TNR, through its lead generator business model, has been successful in generating high-quality exploration projects around the globe. With the Company's expertise, resources and industry network, it identified the potential of the Los Azules copper project in Argentina and now holds a 0.36% NSR royalty on the entire project, which is being developed by McEwen Mining Inc.
TNR holds a strategic stake in International Lithium Corp. ("ILC"), a green energy metals company that was created through the spin-out of TNR's energy metals portfolio in 2011. ILC holds interests in lithium projects in Argentina, Ireland and Canada.
TNR retains a 1.8% NSR royalty on the Mariana Lithium Brine Property in Argentina. ILC has a right to repurchase 1.0% of the NSR royalty on the Mariana Lithium property of which 0.9% relates to the Company's NSR interest. The Company would receive $900,000 on the execution of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.
At its core, TNR provides significant exposure to gold, copper and lithium through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.
On behalf of the Board of Directors,
Kirill Klip
Executive Chairman
Executive Chairman
For further information concerning this news release please contact +1 604-700-8912
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or conditions "may" or "could" occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR's corporate objectives, changes in share capital, market conditions for energy commodities, the results of McEwen Mining's and ILC's PEAs, and improvements in the financial performance of the Company. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the Company's interim and annual Management's Discussion and Analysis which are available under the Company's profile on www.sedar.com. While management believes that the assumptions madeand reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will be able to repay its loans or complete any further royalty acquisitions or sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.
In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR and its royalty partners, McEwen Mining Inc. and International Lithium Corp. will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.
Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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