“We are pleased that significant developments on the advancement of the Los Azules Copper Project towards feasibility have brought Stellantis as a strategic partner in the future development of this giant copper, gold and silver project. An additional investment of US $30 million in McEwen Copper has been also been invested by Rio Tinto’s Venture Nuton in 2023 after their initial investment of US $25 million in 2022,” stated Kirill Klip, TNR’s Chief Executive Officer. “TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, with the aim of decarbonizing mobility, and our mining industry leaders like Rob McEwen’s vision ‘to build a mine for the future, based on regenerative principles that can achieve net zero carbon emissions by 2038’.
The green energy rEVolution relies on the supply of critical metals like copper; delivering “green copper” to Argentina and the world will contribute to the clean energy transition and electrification of transportation and energy industries.
Strong team performance is accelerating the McEwen Copper Los Azules program in 2023. These new exploration results highlight the potential to create additional value for the Los Azules Project, and continuity of mineralization in the infill program is de-risking the project.
It’s very encouraging to see the opportunity to expand the deposit. Together with Nuton, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of the leading environmental performance. The involvement of Rio Tinto with its innovative technology, may also accelerate realizing the enormous potential of the Los Azules Project.
Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022). TNR Gold does not have to contribute any capital for the development of the Los Azules Project. 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 Royalty Holding: Rob McEwen Video - McEwen Mining's 1.25% NSR Royalty on Los Azules Copper "Worth Maybe USD$100 Million After Osisko Royalty Deal"
We have another great video from Rob McEwen to share with you today. TNR Gold shareholders have a new potential valuation reference point for the TNR Gold GEM Royalty portfolio. Rob is discussing Gold and Copper markets and gives great details about different Copper projects in Argentina and their valuations.
Rob McEwen describes the opportunity to expand the deposit and the size of the giant Los Azules Project: "If you covert Copper, Gold and Silver at today's prices - you are looking at the equivalent of 60 Moz Gold deposit." You can find more very interesting comparisons of Los Azules and other major copper projects in Argentina in this video as well."
For all TNR Gold shareholders the part at 36" will be particularly interesting. According to Rob: "Osisko went into Ecuador recently and paid USD$50 million for 0.6% NSR Royalty on the deposit which is smaller than Los Azules. So, that will put just a Los Azules NSR Royalty worth maybe USD$100 million."
"Pursuant to this transaction, McEwen Copper will hold a 100% interest in the Los Azules copper project in San Juan, Argentina, and a 100% interest in the Elder Creek exploration property in Nevada, subject to a 1.25% net smelter return (NSR) royalty on both assets payable to McEwen Mining." McEwen Mining NR July 06, 2021.
"MONTRÉAL, Nov. 07, 2022 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd (“Osisko”) (OR: TSX & NYSE) is pleased to announce that it has entered into a binding agreement with SolGold plc (“SolGold”) (SOLG: TSX & LSE) with respect to a US$50 million royalty financing (the “Transaction”) to support the advancement of SolGold’s Cascabel copper-gold property in northeastern Ecuador.
As part of the Transaction, Osisko will acquire a 0.6% net smelter return royalty (the “NSR”) covering the entire 4,979 hectare Cascabel property, including SolGold’s world-class Alpala project for which SolGold released the results of a pre-feasibility study in April of 2022 (the “PFS”)."
McEwen Mining holds 1.25% NSR Royalty on Los Azules Copper which could be valued at USD$100 million based on the Royalty deal made by Osisko Gold Royalties, according to Rob McEwen. TNR Gold Holds 0.4% NSR Royalty on the giant Los Azules Copper, Gold and Silver project with McEwen Mining, of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder.
TNR Gold's 0.36% NSR Royalty could be valued at USD$30 million, based on Rob McEwen's estimations analysing the recent Osisko Gold Royalties deal with SolGold in Ecuador. Below is the Alastair Ford article where you can find more information about TNR Gold and benchmarks for our GEM Royalty portfolio.
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