Kirill Klip: January 2020

Wednesday, 29 January 2020

TNR Gold Announces Results Of Annual General Meeting: "The Shareholders Approved The Creation Of A New Control Person Of The Company, Kirill Klip, Who Is Now Authorized To Increase His Stake In The Company To Over 20%.

Vancouver, British Columbia, January 28, 2020: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that all resolutions proposed at the Company’s annual general and special meeting of shareholders (“AGM”) held on January 27, 2020 were passed. The agenda items outlined in the information circular for the meeting were approved and all directors standing for election were re-elected. The directors elected for the ensuing year were Kirill Klip, John Davies, Greg Johnson and Natalia Lobanova. In addition, the shareholders approved the creation of a new Control Person of the Company, Kirill Klip, who is now authorized to increase his stake in the Company to over 20%.

TNR Gold Investor Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions.

Do Your Own Research.

"TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Over the past twenty-four 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.

In 2009, TNR Gold founded International Lithium Corp. (“ILC”), a green energy metals company that was made public company 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 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.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with one of the gold major mining companies. The Company is actively introducing the project to interested parties.

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."

TNR Gold:

TNR Gold Announces Results Of Annual General Meeting

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty company.

In 2009, TNR founded International Lithium Corp. (“ILC”), a green energy metals company that was made public 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 Project in Argentina. ILC has a right to repurchase 1.0% of the NSR Royalty on the Mariana Lithium Project, of which 0.9% relates to the Company’s NSR Royalty interest. The Company would receive $900,000 on the completion of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.

The Company’s strategy with Shotgun Gold Project is to attract a joint venture partnership with one of the gold major mining companies. The Company is actively introducing the project to interested parties.

At its core, TNR provides significant exposure to gold, copper and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and Argentina (the Los Azules copper and the Mariana Lithium projects) 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

www.tnrgoldcorp.com

For further information concerning this news release please contact +1 604-229-8129

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 made and 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. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties challenging in the future the ownership of such mining claims. 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."

Saturday, 25 January 2020

TNR Shotgun Gold Project: M&A Valuations In The Alaskan Elephant Country - NovaGold Goes Vertical Hitting $3 Billion USD Valuation.

Chart by Northstar

Coronavirus is breaking out in China and, finally, gold is reacting last Friday by breaking out from its brief consolidation on the base of Summer 2019 high. I would never wish that all our fundamental picture which is supporting much higher valuations for gold will be manifested by this brutal trigger of the threat of a very serious Coronavirus epidemic outbreak. But it's happening and affecting many dozens of millions of people already.

Chart by Northstar

I will leave the coverage of this ongoing tragedy for all people involved in China and all over the world to professional journalists. On my part, I will mention only a few very important points. I do hope that we all will be blessed to escape the global pandemic scenario this time which can bring this tragedy very fast to the stage of the catastrophe. This is a very serious matter, stay safe and well protected. As a minimum, we should expect quarantine in China being expanded and affecting even more population than over 60 million people now. As very well-known virologist has stated already: "the only really effective measure to slow the spread of this epidemic outbreak is for all people to stay at home for the next two weeks". If the reported numbers are not exactly reflecting the real situation in the Wuhan, then the closing of all air travel from China becomes the only option to deal with this situation.

Chart by Northstar

Needless to say that even in the case when, hopefully, this outbreak will be contained in the nearest future, economy in China will be negatively affected. Three major ports in China deserve your attention: Shanghai, Shenzhen and Ningbo-Zhoushan - and in case of closing, we will face the global level of economic shock. The only way to deal with this blow for the election cycle and overextended bull market will be a further massive injection of liquidity from all Central Banks all over the world, basically bringing steroids into our fundamental analysis. Maybe, even POTUS dream about negative rates in the US can become not so far stretched after all.

Chart by Northstar

Gold Bull is ready for the explosive release of its energy after accumulating it for years during the ongoing paper market manipulation and artificial price suppression. Northstar is providing us with his brilliant roadmaps which are pointing out to the potential future destinations. NovaGold is going vertically already reflecting the sudden realisation of only a few in the investment crowd of converging megatrends for gold miners and developers.

Investors rushing to increase their exposure to gold are facing competition from Central Banks and gold miners themselves are facing "The Gold Mining Reserve Crisis" - as McKinsey calls it. Let's all hope that this situation will not get much worse before it gets better. At least one more outcome is certain now. Millions of investors will be educated in a very brutal way, that external shocks to the financial system are real.

There is nothing which is growing straight to the sky without very serious consequences when gravity will take charge and that the risk is real. Gold is the ultimate hedge and billionaires and Central Banks have been buying gold and frontrunning all retail investors who were still chasing the market. TNR Gold is very well positioned with our Shotgun Gold project to successfully implement our strategic plan of development. And now you have a lot of information for your own due diligence and research playing with your own valuation metrics.

News about Electrum Group partnering in the new venture with gold mining legends Rob McEwen and Eric Sprott for exploration in Alaska will ignite the new wave of interest to the juniors operating in Alaska. Alaska jumped to the 5th place among safe mining jurisdictions and giant 39 Moz Donlin Gold project is getting more and more attention. Electrum Group is the major shareholder of Nova Gold which is developing Donlin Gold in JV with Barrick Gold.

With gold prices reaching new highs this year mining analysts are applying higher metrics to value "gold in the ground" when comparing juniors and their projects. Nova Gold is trading as high as USD $3 Billion market cap reflecting its 50% stake in Donlin Gold. It gives more than $154 valuation per oz in the ground. This is an increase of almost 30% compared to the valuation in July 2019. All projects are different, but previous Gold Bull market valuations started at $20 per oz of the inferred resources - the very initial level of resources. Now, these charts from AuCu Consulting are showing different Averages starting from $42/oz for different stages of resource definition for Exploration Companies.

New mining deals will give us a better sense of the valuations. Eric Sprott and Rob McEwen will make sure that Alaska is shining bright on the radars of investors now. Increased gold prices are making the great state of Alaska as one of the most attractive in the industry: "leverage in the place where you can keep the rewards".And their own gold price projections can bring real fireworks to the exploration opportunities. As always do your own research and you will have to pick up the winners.

As we discussed before, the industry is facing "Gold Mining Reserves Crisis". The 1970s and 1980s were the golden years for gold exploration. "There was at least one 50 MOZ Au discovery each decade and at least ten 30 MOZ Au discoveries. From 2000 industry failed to find any 50 MOZ Au deposits or any 30 MOZ Au deposits." M&A deals are only redistributing the already well-known resources, the industry needs new major discoveries, but giants like Donlin Gold are only a few and far between.

M&A deals are driving up gold in the ground valuations already and experts are forecasting the further consolidation in the industry. TNR Gold is developing Shotgun Gold project in the Alaskan Elephant country near the giant Donlin Gold project and is looking for a strategic partner to grow together. You can find more information about our Company on the links below.

Gold In The Alaskan Elephant Country: Kirill Klip GEM Royalty TNR Gold Presentation November 2019.

"The Company's strategy with the Shotgun Gold Project is to attract a partnership with one of the major gold mining companies. TNR Gold ("TNR") is actively introducing the project to interested parties," commented Kirill Klip, Executive Chairman of TNR. "We may be at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical research currently available to target drilling to expand the resource and form the basis of a preliminary economic analysis. The next step is to acquire a partner that shares our vision and recognizes the growth potential and value to be added to the Shotgun project over time."

Kirill Klip GEM Royalty TNR Gold Presentation November 2019 from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions. Do Your Own Research.

Saturday, 18 January 2020

TNR Gold Royalty On Los Azules Copper With McEwen Mining: Copper Is Learning Mandarin Again - M&As In The Copper Space Could Surge In 2020.

Any bad peace is much better than the best war. After signing the trade war deal China is expected to be back on the buying spree of all best copper projects they can find. It is very important to mention here that during the signing ceremony POTUS indicated that now we have his own "Whatever It Takes" put for the markets. His comments about AIG "being left without life support during the Great Financial Crisis" will go far if you consider them together with his new nominations to the FED.

There is still a big room for the QE pump of liquidity, particularly, if FED will be formally accused of treason and pronounced to be "the enemy of the state" for not allowing negative rates "like in Europe".

Behind the scenes, copper M&A preparations were ongoing all the time and timing could not be better as we discussed. Now even Minister from Chile is talking about the artificially low prices of copper due to the trade war tensions and rumours are swirling about M&A deals being in the making once the major uncertainty is removed from the market.

Financial Post is giving us a glance at these discussions in industry boardrooms and experts are sharing their views on the potential acquisition targets which are driving the valuations in the markets already. All rumours must be confirmed by the announcements and there is no need for the unwarranted speculation: even Barrick Gold is openly talking about the quest for "Strategic Copper" in search for the growth. We have discussed already how the mining world is really small.

For all our followers it will be a very interesting situation. TNR Gold is holding NSR Royalty on the entire Los Azules Copper in San Juan, Argentina. The "sleeping giant" - as Rob McEwen calls it - is being developed by McEwen Mining. Rob McEwen has partnered with Eric Sprott and Electrum Group in the quest for the next Donlin Gold in Alaska - the giant gold project which is being developed by JV between Nova Gold and Barrick Gold. The new venture is making waves in the industry after first drilling results and bought financing last week. TNR Gold is advancing Shotgun Gold near the Donlin Gold in Alaska and looking for a strategic partner to grow together and now Barrick Gold is looking for strategic copper for growth. The mining world is really small once you start counting respectable people with money.

Discussions about Freeport McMoran being the target of Barrick's copper ambitions will be addressed by professional journalists in the weeks ahead of us. I would like to point out here that Rob McEwen is looking for the strong JV partner to advance Los Azules Copper and has provided a very interesting update on the project and was talking about the truly unique entry point proposition for the potential partner and his vision how to move the giant venture forward. We can only dream for such a partner as Barrick Gold for our Royalty holding at TNR Gold in addition to Rob's Midas touch, but maybe such dreams are not totally out of this world after all.

Barrick Gold is already well presented in Argentina, they always put asset quality before any jurisdiction challenges and Argentina is willing to move forward with the development of mining projects according to the confirmation from the new President during the meeting with major mining operators in the country. Barrick already has Pascua Lama project in San Juan which is unfortunately located right on the border of Argentina and Chile and even strategic partnership with the Chinese company has been lined up in order to advance this kind of scale opportunities in the region.

Here Los Azules is coming as a very attractive target both in size and location. McEwen Mining was awarded PAE - a special protocol signed by Argentina and Chile this summer - which allows cooperation between two countries in order to advance this project. Move with Los Azules can provide Barrick with the opportunity to secure the project at the very attractive cost of entry in JV with McEwen Mining and reshape its strategic presence in South America while Pascua Lama can still remain a very expensive landscape exercise with angry Chilean farmers living below it.

Dr Ryan D Long has provided his personal analysis on the potential valuations for TNR Gold Royalty holding with McEwen Mining:

"TNR also holds a 0.36% NSR on the Los Azules Copper Project, located in San Juan Province of Argentina. The Los Azules Project is owned 100% by McEwen Mining Inc (NYSE:MUX) and is expected to be the 26th largest copper mine in the world once it reaches production.

A PEA at the project completed in September 2017, demonstrated a post-tax NPV8 of US$2.2bn with a post-tax IRR of 20.1%. Based on the PEA figures the mine is expected to generate average revenue per annum of U$953mln, which could generate around US$3.5mln a year to TNR over 37 years."

Now investors can do their own research and start putting the different pieces into their own valuation puzzle. Rob McEwen has prepared Los Azules to the potential major JV deal in the copper space. Agreements between Argentina and Chile are signed in order to advance the Los Azules project and the new road is being under feasibility study. The new approach by Rob McEwen which he has articulated in order to jump-start the development is making a huge difference for any potential partners:

"McEwen Mining conference call, Robert McEwen -- Chairman and Chief Owner

Happy to. We had past discussions with a senior base metal producer. What we were looking for was recovering part of the cash we put in. We were looking for $100 million upfront that the partner would advance the project to feasibility and then into production and we would continue with an interest of 20% or 25% of the property going forward."

Needless to say that any potential deal will bring the new valuation drivers for all parties involved: McEwen Mining and TNR Gold, as the project will be moving into the feasibility and construction stage. Development of Los Azules will provide enormous economic benefits for San Juan, which is ready to support this kind of responsible mining business for the benefit of proud people of Argentina. I have been calling Argentina the potential Energy Power House for many years, it can finally coming all together now.

TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions.

Do Your Own Research.

Financial Post:

M&As in the copper space could surge in 2020, especially if Chinese companies come to the party

"Copper open interest — or the amount of unsettled derivative contracts — is rising at fastest pace since 2016 U.S. election"

Thursday, 16 January 2020

Dr Ryan D Long: TNR Gold Corp. Analyst Call – Working Towards Securing Its Next Strategic Partner.

I would like to thank Dr Ryan D Long for his very professional write up on TNR Gold. I have appreciated our call and he has articulated and presented very well his analysis of our business model and his view on the potential of TNR Gold's assets in our portfolio. Management of TNR Gold has not reviewed or edited this article before publication. Please review legal disclaimers on my blog and TNR Gold website.

TNR Gold Investor Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions.

Do Your Own Research.

Proactive:

TNR Gold Corp analyst call – working towards securing its next strategic partner.

Dr Ryan D Long

"Proactive's mining analyst, Dr Ryan Long takes a look at TNR’s royalty portfolio and Shotgun Gold Project.

TNR Gold Corp (CVE:TNR) is an exploration company focused on advancing projects to the resource stage before farming them out to strategic partners.

Kirill Klip is executive chairman of the company; he has more than twenty-five years of entrepreneurial experience, with extensive expertise in the banking, transportation, mining, telecommunications and internet industries. He was formerly a founder and director of International Lithium Corp, and an adviser to the board of Canada Zinc Metals.

TNR currently owns two royalties, both of which are located in Argentina. One is on the Mariana Lithium Project and one on the Los Azules Copper Project. TNR also owns a 90%-interest in the Shotgun Gold Project, located in Alaska, where the company is seeking a strategic partner (Figure1).

Figure 1: Location of TNR’s Projects

Source TNR Gold Corp

TNR currently holds a 1.8% net smelter royalty (NSR) in the Mariana Lithium project, located in the Salta Province of Argentina. The Mariana Project is owned by Ganfeng Lithium Co Ltd (82.754%) and International Lithium Corp (CVE:ILC), which has 17.246%. A preliminary economic assessment (PEA) of the project, completed in November 2018, demonstrated a post-tax net present value of C$192mln and a post-tax internal rate of return (IRR) of 20% using a 10% discount rate (NPV10).

While International Lithium Corp has the right to repurchase 0.9% of the NSR for US$900,000, there is no buy-back provision on the remaining 0.9%. The PEA highlighting average annual revenue of US$143mln over the 25-year mine life for the project and the 0.9% NSR being not subject to buy-back provisions could potentially yield over US$1mln per annum to TNR over 25 years.

TNR also holds a 0.36% NSR on the Los Azules Copper Project, located in San Juan Province of Argentina. The Los Azules Project is owned 100% by McEwen Mining Inc (NYSE:MUX) and is expected to be the 26th largest copper mine in the world once it reaches production.

A PEA at the project completed in September 2017, demonstrated a post-tax NPV8 of US$2.2bn with a post-tax IRR of 20.1%. Based on the PEA figures the mine is expected to generate average revenue per annum of U$953mln, which could generate around US$3.5mln a year to TNR over 37 years.

The Shotgun Gold Project is located in Southwestern Alaska. The project has an NI 43-101 compliant mineral resource estimate of 705,960 ounces of gold at a grade of 1.06 grams per tonne (g/t) gold. The deposit remains open at depth, below 150m, and along strike, so there is the potential to expand the size of the deposit through the exploration of the immediate area.

There are also many regional geochemical and geophysical targets within the area that have the potential to expand the scale of the project with additional work, making the project attractive to an incoming party.

During 2020 TNR expects to see a feasibility study published at the Los Azules project with a feasibility study at the Mariana project expected imminently. TNR is also continuing to seek a partner for its Shotgun Gold Project, so it promises to be an interesting year for the company."

Powered By Tesla Energy rEVolution: TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation.

We have been talking about these megatrends, tectonic shifts in our society and signs for years, now it is finally happening. Talk is cheap, the money will tell all the story when they will take the position and only after that you will start hearing about "the next unbelievable opportunity". You know, what I am talking about here - I will provide the road maps and a lot of charts, as usual, but you will have to Do Your Own Research and pick up the winners. I know mine.

We have been discussing the very small and interconnected mining world here a lot, it helps us to manage our development risk and to navigate between booms and busts of the commodity cycles:

"For all our followers it will be a very interesting situation. TNR Gold is holding NSR Royalty on the entire Los Azules Copper in San Juan, Argentina. The "sleeping giant" - as Rob McEwen calls it - is being developed by McEwen Mining. Rob McEwen has partnered with Eric Sprott and Electrum Group in the quest for the next Donlin Gold in Alaska - the giant gold project which is being developed by JV between Nova Gold and Barrick Gold. The new venture is making waves in the industry after first drilling results and bought financing last week. TNR Gold is advancing Shotgun Gold near the Donlin Gold in Alaska and looking for a strategic partner to grow together and now Barrick Gold is looking for strategic copper for growth. The mining world is really small once you start counting respectable people with money."

TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions.

Do Your Own Research.

TNR Gold GEM Royalty Company Powered By Energy rEVolution: Rob McEwen Talks About Gold, Silver And Giant Los Azules Copper Project.

As we have discussed here, the total global mutual annihilation during the Mexican standoff was avoided and algos are driving market crazy to the all-time highs every other day based on the coming headlines. Yield curves are "uninverted" again, "Nothing's gonna stop us now" is blasting off and Gold was smacked on its head but with great difficulty this time. You remember: "fool me once ... and mission accomplished."

Ray Dalio is throwing into the towel and just calling it as we all have been feeling for a very long time: "The world has gone mad and the system is broken". I would presume that this headline is not the breaking news for us here, but as usual, it is very important who is talking about it this time.

Our brave scientific thesis that QE is back is confirmed now, floodgates are wide open and election cycle pumping machine is blowing hot air in every bubble algos can find. POTUS has got his 3 FED rate cuts and is making his best "Chinese Salami Deal" possible to keep the Titanic Party going. The deal is coming one piece at the time and is all over the place, but as we have noted before: even the absence of war can ignite metals' rally. Copper is cooperating even if still quite hesitantly with our observations and invitation to participate in the fireworks as the main treat for the festive season.

Social media, AI and algos are driving and following all this exercise at the same time, they can do a lot of things, but solid values are still out of their reach before robots will take over. (Hopefully, by that time we will be really filthy rich with our lithium holdings residing on a secluded island and it all will be not so important.) You cannot code Gold 2.0, print Copper and Lithium. I will throw for your judgement in a couple of years time another brave idea.

I think that a lot of people will be very surprised how they could miss a generational opportunity of the unique entry point in the best Copper plays they can find now.

As usual, please never be too excited by the headlines to be carried away from your money, do your own research and you will have to pick the winners. In our particular case, TNR Gold is building The Green Energy Metals Royalty and Gold Company and we have a very interesting update from Rob McEwen himself on Gold and giant Los Azules Copper project. GEM Royalty is holding 0.36% NSR Royalty on the entire Los Azules project and we are ready to meet "The Perfect Storm" in Copper with the blessing of Rob McEwen and his Midas touch this time.

Tesla Energy rEVolution And The Golden Age For Copper: Kirill Klip GEM Royalty TNR Gold Copper Presentation November 2019.

"Always do your own research - I do not honestly know how to prepare to that sad end. In all other potential cases, I can only point out to my personal experience of making the best investments by buying when "blood was almost literally on the streets" like with Tenke Mining starting my acquisitions at CAD 40 cents during the civil war in DRC and following Lukas Lundin with his motto: "politics will change, resources in the best projects will stay". Later, Lukas made a lot of investors of Tenke Mining very happy during his buy out by Lundin Mining at CAD$20 dollars. I have followed him and found TNR Gold many years ago - now we have Los Azules Copper NSR Royalty among our other assets and building The Green Energy Metals Royalty and Gold Company."

From McEwen Mining Q3 report:

Los Azules Project, Argentina (100% Interest)

During Q3, we continued to advance permitting efforts, preliminary engineering and cost estimating for the proposed low altitude all year access route.

From McEwen Mining Q3 CC transcript:

Christopher Stewart -- President and Chief Operating Officer

At our Los Azules copper project in Argentina our activity is focused on technical site investigations and permitting work. During the third quarter of 2019 we continued on preliminary engineering and developing cost estimates to advance the proposed low-altitude all-year-around Northern access route for Los Azules. The environmental baseline monitoring work continued along with other items which were identified as necessary to develop a conforming environmental impact assessment submission. The environmental work included geological mapping of the tailings to Amazon.

Jared Chase -- Private Investor -- Analyst

Good morning, Rob.