“Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”Kirill Klip, Executive Chairman TNR Gold Corp.
I consider my personal investment in TNR Gold, as a unique entry point into the state-of-the-art vertically integrated lithium business being built by Ganfeng Lithium for the 21st century. We are building The Green Energy Royalty and Gold Company and participating in the creation of secure supply lines feeding The Switch and Tesla Energy rEVolution.
On my blog following the links below, you can find more information about TNR Gold Corp. and our Royalty Holdings. Do your own research, read all disclaimers, as usual, stay safe and prosper. Join rEVolution!
TNR Gold Update – NSR Royalty On Los Azules Copper, Gold And Silver Project With McEwen Mining
“We are very pleased to see this very exciting and significant development for the Los Azules Copper Project and continued support by Rob McEwen of the newly created McEwen Copper,” stated Kirill Klip, TNR’s Executive Chairman. “It’s very encouraging to see the first results and success of a major 10-drill, 53,000-metre drilling program on this copper, gold and silver project. The personal commitment from Rob McEwen and his investment of US$40 million enabled the rapid advancement for this deposit to this new phase of development in an appropriate corporate structure which will allow financing and further stages of development of the Los Azules Copper Project.
TNR Gold holds a 0.4% NSR royalty on the Los Azules Copper Project, including a 0.04% held on behalf of a shareholder. TNR Gold does not have to contribute any capital for the development of Los Azules. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”
TNR Gold:
TNR Gold Update – NSR Royalty on Los Azules Copper, Gold and Silver Project with McEwen Mining
"Vancouver, British Columbia – May 9, 2022: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that, further to the Company’s news release dated November 10, 2021, McEwen Mining Inc. (“McEwen Mining”) provided a progress report on the Los Azules Copper Project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (including a 0.04% NSR held on behalf of a shareholder) on the Los Azules Copper Project. The Los Azules Copper Project is held by McEwen Copper Inc., a subsidiary of McEwen Mining.
The news release issued by McEwen Mining on May 4, 2022, stated:
“Timing is everything and now appears to be a time for copper to shine. According to Goldman Sachs’ (GS) research1, copper is the new oil. A growth sector with supply constraints, GS forecasts that copper has only two years of supply growth left, 2022 and 2023, and an open-ended supply decline starting from 2024. They see copper playing a big, critical role as an essential component in the global push to electrify transportation and to contain/reverse global warming. They are not alone in thinking about copper this way. McKinsey’s research2 is estimating that by 2030 copper demand will be outstripping supply by five to eight million tons per year.
Executive Summary
Link to Table of Drilling Results for January to April 2022 at Los Azules: https://mcewenmining.com/files/doc_news/archive/2022/20220500_copper/20220500_LA_results.xlsx
Link to the Whittle Enterprise Optimization Methodology: https://mcewenmining.com/files/doc_news/archive/2022/20220500_copper/20220500_whittle_methodology.pdf
| Avg. annual production 1 st 13 years | 415 Million lbs Cu @ $1.14/ lb cash cost |
| Mine life | 36 years |
| Initial capex | $2.4 Billion |
| Base case Cu price | $3.00/ lb |
| Payback | 3.6 years |
| After-tax IRR | 20.1 % |
| After-tax NPV(8%) | $2.2 Billion |
Timetable of Planned Events
One of our key goals is to improve the perception, and reality, of mining by employing innovative solutions to reduce our environmental impact, such as reducing our carbon footprint.
1 https://www.goldmansachs.com/insights/podcasts/episodes/05-18-2021-nick-snowdon.html
All samples were collected in accordance with generally accepted industry standards. Drill core samples usually taken at 2m intervals are split and submitted to Alex Stewart International laboratory in Mendoza, Argentina for the following assays: gold determination using fire assay fusion and an atomic absorption spectroscopy finish (Au4-30); a 39 multi-element suite using ICP-OES analysis (ICP-AR 39); copper content was determined using a sequential copper analysis (Cu-Sequential). An additional 19-element analysis (ICP-ORE) was performed for samples with high sulfide content.
The Company carries out a Quality Assurance / Quality Control program consistent with NI 43-101 and industry best practices utilising a combination of standards and blanks approximately one in every 25 samples. Results are monitored as the final certificates are received and any re-assay requests are sent back immediately. Pulp and prep duplicate sample analyses are also taken as part of the QAQC process. Approximately 5% of sample pulps are sent to a secondary laboratory for check assays. In addition, the assay lab performs its own internal QAQC checks with results available in the certificates for review by the Company.
The McEwen Mining press release appears to be prepared by Qualified Persons (as that term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen Mining’s information to determine the current mineral resource or other information referred to in its press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.
“We are very pleased to see this very exciting and significant development for the Los Azules Copper Project and continued support by Rob McEwen of the newly created McEwen Copper,” stated Kirill Klip, TNR’s Executive Chairman. “It’s very encouraging to see the first results and success of a major 10-drill, 53,000-metre drilling program on this copper, gold and silver project. The personal commitment from Rob McEwen and his investment of US$40 million enabled the rapid advancement for this deposit to this new phase of development in an appropriate corporate structure which will allow financing and further stages of development of the Los Azules Copper Project.
TNR Gold holds a 0.4% NSR royalty on the Los Azules Copper Project, including a 0.04% held on behalf of a shareholder. TNR Gold does not have to contribute any capital for the development of Los Azules. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become the green energy metals royalty and gold company.
Over the past twenty-six 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, which is being developed by McEwen Mining Inc. now. TNR Gold holds a 0.4% NSR Royalty on the Los Azules Copper Project, including a 0.04% held on behalf of a shareholder.
TNR retains a 2.0% NSR Royalty on the Mariana Lithium Project in Argentina with Ganfeng Lithium, including a 0.2% NSR held on behalf of a shareholder. Ganfeng’s subsidiary, Litio Minera Argentina, has a right to repurchase 1.0% of the NSR Royalty on the Mariana 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 by Ganfeng Lithium International Co. Ltd.
TNR also holds a 7% NPR holding on the Batidero I and II properties of the Josemaria Project, which is being developed by Lundin Mining. Lundin Mining is part of the Lundin Group, a portfolio of companies producing a variety of commodities in several countries worldwide.
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 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 a wide scope of exposure to gold, copper, silver 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,
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, Ganfeng Lithium’s, Josemaria Resources’ and Lundin Mining’s preliminary economic assessments, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans 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., Ganfeng Lithium, Josemaria Resources and Lundin Mining 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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