Angela Harmantes: "TNR Gold Shares Are Outperforming the TSXV Index on the Strength of 'Undervalued' Royalty Portfolio: Analysts"

 

“We are building The Green Energy Metals Royalty and Gold Company. 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.

"A recently published research report on TNR, written by Fundamental Research Corp, reckons fair value for the company at C$0.22 per share. The current price is significantly lower than half of that." (Alastair Ford)

 

“Since our initiating report in September 2023, TNR’s royalty projects have made significant progress,” the analysts wrote in a report. “TNR is up 40% since September 2023.” (Emily Jarvie)

"The report from Fundamental Research underscores the company's near-term royalty potential, particularly from Ganfeng Lithium's Mariana project, and reaffirms a Buy rating with an adjusted fair value estimate of C$0.24 per share." (Angela Harmantas)

Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.

TNR Gold Investor Presentation - Building The Green Energy Metals Royalty and Gold Company from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

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

Do Your Own Research.

Proactive:

TNR Gold shares are outperforming the TSXV index on the strength of 'undervalued' royalty portfolio: analysts

Angela Harmantas

"TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) has earned notice from analysts at Fundamental Research after the diversified royalty company’s shares have gained ground in the year to date.

The report from Fundamental Research underscores the company's near-term royalty potential, particularly from Ganfeng Lithium's Mariana project, and reaffirms a Buy rating with an adjusted fair value estimate of C$0.24 per share.

TNR Gold’s impressive stock performance has outpaced the TSXV index’s 8% gain this year, and marks a 40% increase since September 2023.

The company's portfolio includes key projects in Alaska and Argentina, featuring gold, copper, and lithium assets.

Its two advanced-stage projects in Argentina—Mariana Lithium and Los Azules Copper-Gold—are central to TNR's growth strategy.

The Mariana project, 100% owned by Ganfeng Lithium, is poised to start commercial production later this year, potentially generating significant royalty revenue for TNR.

TNR owns a 1.35% Net Smelter Return (NSR) royalty on the project, which could generate annual royalty revenue of $1.4 million for TNR, according to Fundamental.

Ganfeng also has an option to purchase 0.9% of TNR's interest for $0.9 million, which could adjust TNR's interest to 0.45%.

Meanwhile, Los Azules is an advanced-stage porphyry copper project owned by McEwen Copper that analysts feel could boast significant resource potential. Recent metallurgical tests have improved copper recoveries, enhancing the project's economics.

TNR holds a 0.36% NSR royalty, with annual royalty revenue projections at $6 million, using conservative copper price estimates.

Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth.

“TNR offers exposure to gold (41%), copper (38%), and lithium (21%),” analysts wrote in the report.

“While gold and copper are trading near record highs, lithium prices are down 64% YoY to US$15k/t vs the five-year average of US$21k/t. We are more bullish on gold stocks than the metal itself, with gold producer valuations averaging 17% lower compared to the past three instances when gold surpassed US$2k/oz. In addition, we maintain a positive outlook on lithium stocks as we believe lithium prices have stabilized, and battery/EV manufacturers/miners are actively seeking stable/long-term supply sources.”

The analysts emphasized that TNR's current share price of C$0.08 does not fully reflect the value of its Shotgun project or its royalty interests. "We believe TNR's share price of $0.07 (ed note: as of May 2024) indicates that the market is not only undervaluing the Shotgun project, but also completely overlooking TNR's royalty interests," they stated.

With key developments on the horizon, including the commencement of production at Mariana and the potential for a JV partner at Shotgun, Fundamental believes that TNR Gold is well-positioned for growth. The adjusted fair value estimate of C$0.24 per share reaffirms the company's strong investment potential."

TNR Gold Royalty Holding On Los Azules Copper, Gold & Silver Project With McEwen Mining: "McEwen Lines Up Copper Partner As Surging Prices Spur Interest."

Bloomberg reports another great news for TNR Gold shareholders, Rob McEwen and the proud people of Argentina! 

Things are finally heating up with all our holdings in Gold, Copper Silver and Lithium to the proper melting point when the true value of our assets will start to shine brightly and even ruthless and brutal Mr Market will not be able to ignore it anymore. 

All our shareholders are better to dust off those calculators and start running some numbers. Do your own research, as usual, but now you can better understand why I have been participating in all TNR Gold private placements, other Insiders have joined me and now I am participating in a new round of financing for our Company. 

This summer is going to be very hot for all our projects, as we have discussed in our latest Video update. We are building The Green Energy Metals Royalty and Gold Company and public news is pouring in with the new level of developments on all fronts for all Green Energy Metals and Gold in our very strong portfolio of assets. 

After the great news by Reuters for TNR Gold about Ganfeng Lithium's plans to invest US$600 in Mariana Lithium and their plans now to double PEA (2018) estimated annual production from 10,000 to 20,000 T of Lithium LCE, we have our Copper Royalty Holding on the giant Los Azules shining very bright today. Now our NSR Royalty Holding on the giant Los Azules Project with Copper, Gold and Silver is getting into the headlines with Mr Goldcorp himself - Rob McEwen is presenting the Story:

"Needless to say, that giant Copper deposits like Los Azules must be put into production and ASAP just to make these huge deficits manageable. This is where the legendary Mr Gold Corp. - Rob McEwen's Midas Touch comes into play. 

There can be only one deal be done for Los Azules, not ten. We all need just one deal, but the best one, which will be the best for all shareholders. Rob McEwen is navigating carefully the boardrooms of major mining companies with his Los Azules Copper Project Slide Deck while enjoying the beautiful landscape of the San Juan province in Argentina and inviting industry majors to come, join and enjoy the scenery together:

"Rob is talking exactly about this approach which we are using for our Gold in Alaska as well now. Rob McEwen: "... the two strategic alternatives are being aggressively evaluated to determine what we believe will be the optimal way to finance the rapid development of Los Azules to create the greatest long-term value from this large copper resource for Argentina, the nearby communities, our shareholders, and employees." 

 

 

Bloomberg:

McEwen Lines Up Copper Partner as Surging Prices Spur Interest

By James Attwood

Rob McEwen, Bloomberg.

Mining veteran looks to sell part of Argentina copper project

Partner would take project through to production, CEO says

McEwen Mining Inc. is in talks to sell a stake in a copper project in Argentina as the gold and silver producer looks to tap into booming prices of the metal used in wiring.

The company run by Canadian gold veteran Rob McEwen is holding conversations with another mining company as part of a proposal that could see a portion of the copper project sold privately and then taken public within 12 months, McEwen said Tuesday.

“The market seems to prefer a pure copper play as opposed to a large copper project in a smaller precious metals company,” he said in an interview. “With the increase in copper price, there’s more interest.”

McEwen, the founder and former head of Goldcorp, is looking at ways to monetize both the copper project and certain silver assets to focus on its gold mines that missed guidance in past years, with the company forced to raise funds. He said those setbacks have now been turned around.

McEwen, 71, described Los Azules in San Juan province near the Chilean border as “one of the larger undeveloped copper projects in the world not owned by a major,” with potential annual production of more than 200,000 metric tons and a valuation in excess of $5 billion at today’s copper prices.

He expects to have a decision on the strategy for the project in the next month, adding that the would-be partner has the capability to take it through to production.

Argentina, where interventionist policies have held back mining, is now “looking a little more favorable” as authorities look to diversify from farming and politicians in Chile and Peru seek a greater share of mining profits."

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

Do Your Own Research.

TNR Gold Royalty On Los Azules Copper With McEwen Mining: "Copper Supply Needs To Double By 2050, Glencore CEO Says"

Reuters reports that Rob McEwen's plans to put the giant Los Azules Copper, Gold and Silver Project on the fast lane of development towards our electric future are getting industry-wide support and understanding. Copper becomes Gold during The Switch and Energy rEVolution. 

Titans of the industry are talking about a looming "Severe Deficit" - as Goldman Sachs puts it - pointing out the growing huge gap between available Copper Supply and Demand which is supercharged by the exponentially growing sales of EVs during this phase of rEVolution. 

Now Glencore CEO Ivan Glasenberg is putting the Big Picture View on display for all those who are ready to listen. Copper push to the recently printed new all-time-high is not the "transitional" aberration, this is a sign of things to come. Price shocks are imminent. The copper industry was developed in the last century. 

Major producing Copper mines are over 70-years old. The Copper Industry head grade is going down. Basically, miners are mining ores with the metal content so low that it was considered dirt with some Copper dust just a couple of decades ago. 

Needless to say, that giant Copper deposits like Los Azules must be put into production and ASAP just to make these huge deficits manageable. This is where the legendary Mr Gold Corp. - Rob McEwen's Midas Touch comes into play. 

There can be only one deal be done for Los Azules, not ten. We all need just one deal, but the best one, which will be the best for all shareholders. Rob McEwen is navigating carefully the boardrooms of major mining companies with his Los Azules Copper Project Slide Deck while enjoying the beautiful landscape of the San Juan province in Argentina and inviting industry majors to come, join and enjoy the scenery together:

"Rob is talking exactly about this approach which we are using for our Gold in Alaska as well now. Rob McEwen: "... the two strategic alternatives are being aggressively evaluated to determine what we believe will be the optimal way to finance the rapid development of Los Azules to create the greatest long-term value from this large copper resource for Argentina, the nearby communities, our shareholders, and employees." 

 

TNR Gold is plugged into Energy reVolution with our NSR Royalty Holdings on Mariana Lithium under the operation by Ganfeng Lithium and Los Azules Copper with McEwen Mining. The new chapter of development for Los Azules will provide a further catalyst for the potential valuation of our Royalties on this giant deposit containing Copper, Gold and Silver. 

The Taca Taca Royalty deal made by Nova Royalty has provided TNR Gold with a very good benchmark for the potential valuation of Los Azules Royalty:

"Now deal by Nova Royalty provides all our devoted followers with more information to crunch the numbers and arrive at their own conclusions about the potential valuations for TNR Gold. Below you can find more information for your own research.

Nova Royalty pays for 0.24% of NSR Royalty on Taca Taca USD$12.75 million, TNR Gold holds 0.36% NSR Royalty on the entire giant Los Azules Copper project.

"Nova Royalty Corp. said on Thursday that it has struck royalty purchase agreements with private parties to acquire an existing 0.24% net smelter return (NSR) royalty on First Quantum Minerals Ltd’s Taca Taca copper-gold-molybdenum project, in Argentina for around US$12.75 million in a cash-and-stock deal."

 

Do your own research, as usual, so that you can better understand why I have been participating in all private placements of TNR Gold. Other Insiders joined me. And now I am participating in another round of financing for our Company. Follow us, join the rEVolution! Buckle up, stay safe and enjoy the journey.

Glencore CEO Ivan Grasenberg

Copper supply needs to double by 2050, Glencore CEO says

"LONDON (Reuters) - Glencore Chief Executive Ivan Glasenberg said on Tuesday that a supply gap was growing in the metals necessary for the world to replace fossil fuels with renewable energy, but he stopped short of predicting a so-called super cycle.

Glasenberg said at the Qatar Economic Forum that copper supplies needed to increase by one million tonnes a year until 2050 to meet an expected demand of 60 million tonnes.

“Today, the world consumes 30 million tonnes of copper per year and by the year 2050, following this trajectory, we’ve got to produce 60 million tonnes of copper per year,” he said."

Gold Bulls, Time Machines And Warren Buffett With His "Drunken Psycho Mr Market".

There is a lot of drama these days. It is definitely too much for many to handle. Investing should not be as hysterical as our mass media news today. Stick to your core values and do your own research. 

We are in elections "silly season" and "nothing is off the table". The FED is setting the stage for a major policy change. Nobody can afford Gold at $5,000 tomorrow. The System will collapse. The good old smackdown is coming first. QE pump will start again next. Please do not forget that FED's balance sheet is again above $7 Trillion last week and the global stimulus is over $20 Trillion dollars. 

We have Warren Buffett now on board with his $564 million stake in Barrick Gold and we can apply his best investing principles to this Gold Bull Market as well. Always keep The Big Picture in front of you.

I personally like what I see these days. It is a very healthy correction for this young Gold Bull after it hit the new all-time high at $2,078 intraday just a few weeks ago. 

All discussions that "this Gold Bull Market is over" should be seen in the light of Gold performance these days: Gold is down 3.5% in the last 30 days and it is up 577% in the last 20 years. Gold is beating Warren Buffett's performance in the 21st Century. 

Is Gold Bull over already or "Drunken Psycho Mr Market" gives us another opportunity to use the Time Machine again? Only you can decide. Look at the Big Picture and fundamentals for Gold.

"Only sometimes Mr Market can soften up and take a pause from its main function of separating boyz from men and most people from their money. You should always be ready to spot this opportunity because even then nothing is for sure. Nobody can make money for you, only you can do it or fail. But you will never know before you try. Sometimes a few circumstances can come together manifested by the very strong will and focus and provide a life-changing opportunity. This is where the magic comes from. "There is magic, but you have to be a magician to make this magic happen."

Has anything changed for Gold fundamentals from those happy days just a few weeks ago when everybody was screaming together with all Robinhood crowd "Buy" and chasing everything that was barely breathing but still going up? 

Can this picture just show that happy trading crowd is learning about the "Margin Call" phenomena and that Mr Market can decide to change his mind one morning and punish as many as he can? Not a lot of Robinhood "Pros" who are chasing bankrupt ideas and filled by hot air bubble companies know that Warren Buffett's Mr Market is still very well alive and his main function is to separate boyz from men and the most "investors" from their money.  

Investors sold Gold in March during The Market Double Black Monday Crash just to raise cash to cover the margin calls. Can we have the same situation again? Should you sell to Mr Market now? Or should you hold or maybe even buy from him now? For every seller, there is a buyer. Who will be right this time again? We will all find it out very soon. Below you can find more of my thoughts for your own research, buckle up and stay safe.  

Warren Buffett Dumps Goldman Sachs And Buys Barrick Gold: Investors Are Coming Home - Gold In The USA, Alaskan Elephant Country.

Gold is not Gold Bug’s religion only anymore. Investors are coming home. Gold is Real Money. Warren Buffett dumps Goldman Sachs and buys Barrick Gold. We have another piece of the puzzle put in place. The full circle. A lot of very smart people will explain to you what it all really means now. I will add just a few points relevant to our journey. 

You have one more answer helping with your questions and explaining my very brave dream: to build TNR Gold using the best Warren Buffett principles, to build The Green Energy Royalty Metals and Gold Company like an investor would do for other investors to join. Now you can better understand why I put Gold and Warren Buffett in the same sentence many years ago. 

Negative Real Interest Rates change everything. Gold is shining bright in the MMT Age. Time is a function of Energy. Money is compressed Energy. Gold is Real Money. There is nothing really esoteric at this stage - welcome to the Gold Genius Club. Now Warren Buffet revealed his $564 million membership. Eric Sprott has explained to us that the best Gold mining companies are literally printing money with expanding margins following the record high Gold prices. 

Frank Holmes presented to us his case on why money managers cannot ignore Gold mining companies anymore. Funds are coming in Gold mining stocks chasing the rising cash flow yields in the MMT Age of Negative Real Interest Rates. The best Gold mining companies generate rising cash flow yields. Gold mining companies’ margins and cash flow yields are growing with the growing pile of negative-yielding debt, which is pushing the Gold price higher. Gold is the ultimate hedge. 

The best Gold mining companies become wealth generators. As Mark Bristow, CEO of Barrick Gold puts it: “Self-funded Insurance Policy.” Now more money managers, including insurance companies and pension funds, will be allowed by their Boards to allocate funds to get at least some Gold exposure. A lot of them just cannot buy Gold, but they can buy Gold miners. Mainstream financial media is talking already about Gold as the real hedge and the only one which can substitute bonds in the “model portfolios” in the MMT Age. 

This coming tsunami of funds seeking the increased allocation to Gold will be meeting the... 0.57% of Gold share in the global equity portfolios! This is why we were talking about real fireworks this year after the 4th of July: 

"My dear Friends, we are here. Unimaginable events are happening. Not only our small worlds are affected, but we have a collectively shared manifestation on a global scale. If you read this, you can have a glimpse into my world. But you will see yours. Each of us will have to decide for ourselves, where we are going to live. Which Universe we will choose.  

We are here. Gold has hit all-time high intraday at the US $2,078, new all-time high weekly close is at the US $2,035, and the new all-time high monthly close is at the US $1,976"

Alastair Macleod provided us with his insights into the game of music chars going in the Gold market. There is no Gold in “paper gold” - there is only paper. With Warren Buffett moving in, we will see very soon who is swimming without trunks in that “paper gold”, the tide is coming out with every physical delivery now. 

But back to Barrick Gold and why "Investors are coming home", as Thomas Kaplan, Chairman of NovaGold put it? We have Peak Gold. Gold miners need new new “Elephant” projects to replenish the declining resource base. They need new giant projects just to keep Gold production at the same annual rate. 

In his recent interview on CNBC, Mark Bristow has acknowledged that even if the Barrick Gold’s official Gold price is still $1,200 for all planning purposes, “they are using now $1,500 as the indication for a mid-term time horizon.” It will not escape your attention that nobody will be buying out Barrick Gold, probably, this year, but they will have to buy themselves something big and promising. Who will be talking the Gold price up going into the M&A market as the buyer? All recent developments around NovaGold, which we have discussed in great detail with you here, are pointing us to the brave scientific question for a pure curiosity pleasure at this stage. Who will buy NovaGold first in the fight for the solid lead as the number 1 Gold mining company in the world? Will it be Newmont Mining or will Mark Bristow conclude the “unfinished business” of the previous unsuccessful buy out attempt and will finally bring Donlin Gold “back home”? In the world moving super crazy fast into the $3,000 Gold as a new normal, for me, this is just a question of time now. Nor Barrick Gold neither Newmont Mining can afford to lose Donlin Gold to each other without a walk over effectively from the race for the crown of the world’s top Gold miner. 

I must warn you again, as usual, that all my brave positive affirmations and dreams are based solely on my personal observations of public information available in the market and I do not have any other insider information. Always do your own research and now you can better understand another layer of my previous post. TNR Gold had its first double from a multi-year base. There could be some people who bought a ticket on our ship just by chance and who are not sure about the destination. Our journey involves very significant Risks of travelling, particularly nowadays, even if we are going to the amazing, possibly, even exciting opportunities. For all those who are not sure that they can hold the waves and withstand the seasickness, thank you and it will be much better for you to disembark now. 

Nobody knows the future. We will be moving into the stormy waters again. I already know that I would like next to visit the very nice beach spot marked as a "10" on the map. There could be two more doubles potentially from here after very hard work with the sails and after a lot of blisters. In my very personal vision, we do not need anything really groundbreaking and dramatic, apart from very hard work and execution of the strategy which we discussed in details here, in order to really enjoy our journey and finally to get to the “50 cents” Party at the “Club 55”, just to bring sweet memories. But then it’s again: it is all my positive affirmations and “Never buy anything you cannot hold.”

Barrick Gold has Warren Buffett now and we have Shotgun Gold for your due diligence study below. “Investors are coming home.”

"Our Team at TNR Gold is wishing all the luck to our shareholders at NovaGold in the next stage for the development of Donlin Gold and we hope this exploration program will demonstrate that exploration and mining business can be done safely in the US even now. On our side of the great Alaskan Elephant Country, Shotgun Gold is ready for a major Gold mining Company to join our Story. 

It was tough, but we used our "staying at home time" wisely. Auditors gave us the clean bill of health, Q1 MD&A and Financials are filed and I have finally received my newly acquired block of shares after closing our final tranche of the private placement. Read more." 

TNR Gold Shotgun Gold Project 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.