Wednesday 22 May 2024

TNR Gold NSR Royalty Update – Los Azules Copper, Gold and Silver Project – McEwen Copper Announces Completion of the Feasibility Drilling Program


“We are pleased that significant developments on the advancement of the Los Azules Copper Project towards feasibility have led to the increased Stellantis holdings in McEwen Copper as a strategic partner of this large copper, gold and silver project. In February 2023, Stellantis invested ARS $30 billion, and with additional investment of ARS $42 billion made after the new preliminary economic assessment (PEA) publicationhas a total investment of ARS $72 billion. 


An aggregate of US $65 million in McEwen Copper was also invested by Rio Tinto’s Venture Nuton in 2022 and 2023,” stated Kirill Klip, TNR’s Chief Executive Officer. “TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is decarbonizing mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘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.



The new president of Argentina introduced important government policies aimed at supporting business and unlocking the country’s economic potential. Mining is being recognized as an integral part of this economic development plan, providing jobs and enriching local communities.



“Strong team performance of McEwen Copper is advancing the Los Azules Project towards a feasibility study. The Los Azules Project PEA results highlight the potential to create a very robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the Project apart from other potential mine developments.

“It’s also very encouraging to see an updated independent mineral resource estimate that has increased the resource significantly. These assay results not only validate previous drilling results but also confirm the continuity of, and extend the mineralization.



“Together with Nuton, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of a 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 ten 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.”

 





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:

NEWS RELEASE

TNR Gold NSR Royalty Update – Los Azules Copper, Gold and Silver Project – McEwen Copper Announces Completion of the Feasibility Drilling Program

"Vancouver, British Columbia – May 21, 2024: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that McEwen Mining Inc. (“McEwen Mining”) has provided an update on the Los Azules copper, gold and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project. The Los Azules project is held by McEwen Copper Inc. (“McEwen Copper”), a subsidiary of McEwen Mining.



The news release issued by McEwen Mining on May 16, 2024 stated:

70,000 meters completed, highlights include:

349.0 m of 0.77% Cu, including 232.0 m of 0.86% Cu (AZ23292)

382.5 m of 0.54% Cu, including 74.0 m of 0.86% Cu (AZ23277)

TORONTO, May 16, 2024 (GLOBE NEWSWIRE) — McEwen Copper Inc., 47.7% owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to provide the assay results from the currently completed drill season at the Los Azules project in Argentina. The prime objectives of this season’s infill drilling campaign were: 1. to confirm the size and grade of the deposit as compared to the 2023 PEA estimate and upgrade the resource categories for the upcoming feasibility study; 2. test for extensions of mineralization beyond the current pit shell; and 3. explore our large property package for other mineralized areas.

Based on the assay results received to date, our first objective appears to have been met. Initial interpretation suggests that our infill drilling will result in an increase in Measured and Indicated resources and an overall mineral inventory within 5% of the PEA estimate. Testing for extensions beyond the planned pit has successfully encountered mineralization both to the north and to the south. Primary mineralization was intercepted (202.0 m of 0.20% Cu) over 400 meters north of last year’s deep exploration hole, confirming its extension at depth a significant distance to the north. Exploration south of the planned pit has intercepted the principal mineralized intrusive more than 700 meters south of previous drill intercepts and indicates that prospective intrusives continue well to the south of the pit.

Exploration over our property has produced an intriguing target, late in the season. Initial results of a concession-wide regional mapping and sampling campaign have identified strong evidence of a large porphyry system 3 kilometers east of the Los Azules deposit. Porphyry-style veining and quartz vein stockworks with copper oxide mineralization have been recognized within this new target, with assay results pending.

Additionally, this news release covers all results from the first half of the 2023-24 drill program (see Table 1). Final results will be published when all the geochemistry is completed.

The objective of the 2023-2024 drilling campaign is to collect all the necessary information to support the completion of the Los Azules Feasibility Study by early 2025. This information continues to arrive and will be processed in the following months. Resource drilling is focused on converting all the mineralization to be mined in the first 5 years to Measured and Indicated resource, to increase confidence during the payback period. Geotechnical, metallurgical, hydrogeological, exploration, and condemnation drilling are also being performed.

Highlights

  • Hole AZ23292 returned an intercept of 349 m of 0.77% Cu (approx. true thickness). The Enriched zone portion of this hole extends over 346 meters and includes an intercept of 232 m of 0.86% Cu.
  • Hole AZ23277 has an intercept of 5 m of 0.54% Cu(approx. true thickness). The Enriched zone portion of this hole extends over 306 meters with a grade of 0.61% Cu and includes an intercept of 74 m of 0.86% Cu.

Results

Results are summarized in two schematic cross sections (Figures 2 and 3), which include simplified interpretations of the Overburden, Leached, Enriched and Primary zones. The Enriched mineral zone refers to the enrichment of a copper deposit by precipitation-derived water circulation that carries copper minerals downward through the rocks to accumulate in a thick, often horizontal “blanket”. Immediately above the Enriched zone is the Leached zone, from which copper was removed and transported. Weathering and oxidation often aid in this process. Below the Enriched zone, the Primary (or Hypogene) zone is formed by ascending copper-rich fluids having a much deeper magmatic origin. The green line on the sections indicates the pit floor of the 30-year pit shell from the 2023 NI 43-101 Preliminary Economic Assessment (PEA).

Figure 1 presents a plan view of the location of two sections and the holes reported. Adjacent cross sections are located 50 m apart from each other, starting with the lowest numbered section at the south end of the deposit and progressing to the north.

Figure 1 – Plan View Location of Cross-sections and Drill Holes Reported in this News Release

Figure 2 displays an intercept of 349 m grading 0.77% Cu (AZ23292) and includes 232 m grading 0.86% Cu within the Enriched zone. This hole extends higher-grade Enriched zone mineralization in the center of the section to the east and at depth.

Figure 2 – Section 40 – Drilling, Mineralized Zones and 30-year PEA Pit (Looking North)

Figure 3 highlights a 382.5 m interval grading 0.54% Cu (AZ23277) and includes an interval of 74 m grading 0.86% Cu within the Enriched zone. This hole extends higher-grade mineralization in the eastern portion of the Enriched zone to the east and at depth.

Figure 3 – Section 52 – Drilling, Mineralized Zones and 30-year PEA Pit (Looking North)

Growing the Deposit

Exploration hole AZ23241 (Figure 4) intersected a long interval of low-grade mineralization in the Primary Zone (202.0 m of 0.20% Cu) and began to enter higher-grade mineralization at the end of the hole (12.0 m of 0.44% Cu). This hole is located completely outside of the 2023 PEA base case mineable pit shell. This hole is over 400 meters to the north of exploration hole AZ22174, also located outside of the 2023 PEA base case mineable pit shell, which encountered 1,052.0 m of 0.29% Cu including 480 m of 0.42% Cu (Figure 4). These intercepts suggest that primary mineralization continues at depth a significant distance to the north. Exploration drilling south of the deposit has extended the presence of the early mineral porphyry more than 700 meters south of previous drilling and well outside of the southern pit boundary. This porphyry is host for the majority of the mineralization at Los Azules and encountering it a significant distance farther south indicates that the deposit may also continue in this direction. Assays for these holes are pending.

A comprehensive structural model for the deposit has been completed that will provide a better understanding of structural controls on the deposit and aid in future exploration work. Field verification of a previous property-wide structural study using satellite information was carried out in January and has refined the identification of nearby exploration targets.

Figure 4 – North-South Longitudinal Section (Looking East) With Deep Exploration Holes to the North and Exploration Holes to the South With Early Mineral Porphyry Shown in Red

Indications of Another Porphyry Copper System Nearby


To date, geological mapping and geochemical sampling has been focused primarily near the Los Azules deposit and only covers roughly 40% of our large concession. To address this limitation, a mapping and sampling campaign was begun in December, to obtain 100% coverage of our concession.

Early results of this work have identified a large new porphyry system 3 kilometers east of Los Azules. Preliminary work has identified porphyry-style veining and alteration, indicating the presence of a porphyry copper system. Areas with strong quartz vein stock working and the recognition of copper oxides at surface add to the prospectiveness of this newly identified area (Figure 5).

Figure 5 – Quartz Stockwork Veining and Copper Oxides Identified at Surface in Porphyry Copper System 3 Kilometers East of Los Azules

Table 1 summarizes copper (Cu), gold (Au) and silver (Ag) assay results received from October 2023 to December 31, 2023.


Table 1 – Recent Los Azules Drilling Results


Technical information

The technical content of this press release has been reviewed and approved by Darren King, Director of Exploration of McEwen Copper, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

All samples were collected in accordance with generally accepted industry standards. Drill core samples, usually taken at 2 m intervals, were split and submitted to the Alex Stewart International laboratory located in the Province of Mendoza, Argentina, for the following assays: gold determination using fire fusion assay and an atomic absorption spectroscopy finish (Au4-30); a 39 multi-element suite using ICP-OES analysis (ICP-AR 39); copper content determination using a sequential copper analysis (Cu-Sequential LMC-140). An additional 19-element analysis (ICP-ORE) was performed for samples with high sulphide content and that exceeded the limits of the ICP-OES analysis.

The company conducts a Quality Assurance/Quality Control program in accordance with NI 43-101 and industry best practices using a combination of standards and blanks on approximately one out of every 25 samples. Results are monitored as final certificates are received, and any re-assay requests are sent back immediately. Pulp and preparation sample analyses are also performed as part of the QAQC process. Approximately 5% of the sample pulps are sent to a secondary laboratory for control purposes. In addition, the laboratory performs its own internal QAQC checks, with results made available on certificates for Company review.


Table 2 – Hole Locations and Lengths for Los Azules Drilling Results


ABOUT MCEWEN COPPER

McEwen Copper is a well-funded, private company which owns 100% of the large, advanced-stage Los Azules copper project, located in the San Juan province, Argentina. McEwen Copper is a 47.7%-owned private subsidiary of McEwen Mining, which has the ticker MUX on NYSE and TSX.

Los Azules is being designed to be distinctly different from a conventional copper mine, consuming significantly less water, emitting much lower carbon and progressing towards carbon neutral by 2038, and being powered by 100% renewable electricity once in operation. In June 2023, an updated Preliminary Economic Assessment (PEA) was released, which projects a long life of mine, short payback period, low production cost per pound, high annual copper production and a 21.2% after-tax IRR.

ABOUT MCEWEN MINING

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. McEwen Mining also holds a 47.7% interest in McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The Company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$220 million. His annual salary is US$1.

The McEwen Mining press release appears to be reviewed and verified by a Qualified Person (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 pleased that significant developments on the advancement of the Los Azules Copper Project towards feasibility have led to the increased Stellantis holdings in McEwen Copper as a strategic partner of this large copper, gold and silver project. In February 2023, Stellantis invested ARS $30 billion, and with additional investment of ARS $42 billion made after the new preliminary economic assessment (PEA) publicationhas a total investment of ARS $72 billion. An aggregate of US $65 million in McEwen Copper was also invested by Rio Tinto’s Venture Nuton in 2022 and 2023,” stated Kirill Klip, TNR’s Chief Executive Officer. “TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is decarbonizing mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘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.

“The new president of Argentina introduced important government policies aimed at supporting business and unlocking the country’s economic potential. Mining is being recognized as an integral part of this economic development plan, providing jobs and enriching local communities.

“Strong team performance of McEwen Copper is advancing the Los Azules Project towards a feasibility study. The Los Azules Project PEA results highlight the potential to create a very robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the Project apart from other potential mine developments.

“It’s also very encouraging to see an updated independent mineral resource estimate that has increased the resource significantly. These assay results not only validate previous drilling results but also confirm the continuity of, and extend the mineralization.

“Together with Nuton, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of a 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 ten 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.”




ABOUT TNR GOLD Corp.

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

Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.

Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that have the potential to generate royalty cashflows that will contribute significant value for our shareholders.

Over the past twenty-eight years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the Company’s expertise, resources and industry network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina among many others have been recognized.

TNR holds a 1.5% NSR Royalty on the Mariana Lithium Project in Argentina, of which 0.15% NSR royalty is held on behalf of a shareholder. Ganfeng Lithium’s subsidiary, Litio Minera Argentina (“LMA”), has the right to repurchase 1.0% of the NSR royalty on the Mariana Project, of which 0.9% is the Company’s NSR Royalty interest. The Company would receive CAN$900,000 and its shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45% NSR royalty and its shareholder holding a 0.05% NSR royalty.

The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report, and the construction of a 20,000 tons-per-annum lithium chloride plant has commenced.

TNR Gold also holds a 0.4% NSR Royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder. The Los Azules Copper Project is being developed by McEwen Mining.

TNR also holds a 7% net profits royalty holding on the Batidero I and II properties of the Josemaria Project that 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. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. 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 royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), 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 Kirill Klip +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, and future potential transactions being considered by the Special Committee and the Board. 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 SEDAR+ profile on www.sedarplus.ca. 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 enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings 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, in future, challenging 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 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."




Sunday 19 May 2024

TNR Gold Los Azules Copper NSR Royalty: Copper Surged to a New All-Time High at $5.1275 per lb Amid a Short Squeeze on COMEX.



Copper surged to a new all-time high at $5.1275 per lb amid a short squeeze on COMEX on May 15, 2024. Now Goldman Sachs' target price for Copper of $6.8 per lb and Rob McEwen's smiles seem not so far away after all.


"Goldman Sachs is talking about Copper price reaching $6.8 per lb driven by the deficit in the market. "If Copper goes to $6 per lb it will put a few smiles on the faces of people around here", Rob explains. "There is a large gap between supply and demand is developing according to Goldman Sachs. And if China comes back on stream, they are the big buyer of Copper... so we could see that number. I will be very happy as Los Azules is projected to be producing copper at $1.7 per lb."

 




This very impressive advance of the Copper price reflects not only the ongoing short squeeze on COMEX but indicates the coming long-term disbalance between supply and demand. "Copper supply will plunge if miners don't get spending", according to Bloomberg.



This investment into mining must be the most economically efficient, miners have to choose the best available projects. Only development of the giant Copper projects like Los Azules can provide a significant new long-term stable supply of this critical metal for the future to fill the rising gap between supply and demand.


China coming back online will add very significant demand to the infrastructure development plans advanced all over the world during the Energy Transition. Argentina has everything now to become the Power House of the Tesla Energy rEVolution.


Bloomberg reported that Central Puerto SA, Argentina's biggest power supplier, is in talks to invest in McEwen Copper's Los Azules project. TNR Gold holds NSR Royalty on this giant Copper, Gold and Silver Project. 



We are building The Green Energy Metals Royalty and Gold Company. TNR Gold is plugged into Tesla Energy rEVolution with our Royalty Holdings on the Mariana Lithium Project with Ganfeng Lithium, Los Azules Copper, Gold and Silver Project with McEwen Mining and Batidero I and II Properties of Josemaria Copper-Gold Project with Lundin mining.



On the links below you can find all the latest information about TNR Gold's Royalty portfolio, potential valuations of TNR Gold's NSR Royalty and how Rob McEwen's plan to produce "Green Copper" for Argentina is taking shape. 




TNR Gold Los Azules Copper NSR Royalty: "Argentina Power Supplier Central Puerto Eyes Stake in McEwen’s Copper Project"

 

 

 

Copper surged to $10,000 per ton, and Goldman Sachs is talking about Copper price reaching $6.8 per lb driven by the deficit in the market. Drills are turning at the giant Los Azules Copper, Gold and Silver project and Rob McEwen is turning more and more heads in the corporate board rooms towards Argentina.



"Bloomberg reports on Copper price advance to $10,000 per ton, following the BHP's $39 Billion "megabid" in an attempt to buy out Anglo American. Copper price was hitting high after high in recent months on its way to $5 per lb. Historically, Copper prices hit an all-time high of $5.0395 per lb in March 2022."


"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 70 Moz Gold deposit."

 


Rob McEwen met with the President of Argentina Javier Milei and presented personally Los Azules Copper project in April:

"McEwen Copper and McEwen Mining Inc. executives met with President Javier Milei to discuss the Los Azules copper project.

On Tuesday, McEwen Mining’s Chief Executive Officer Robert McEwen, the VP of McEwen Copper & General Manager of Los Azules Michael Meding, General Counsel Carmen Diges, and VP of Corporate Development Stefan Spears had the pleasure to meet with the president of Argentina, Javier Milei. They discussed the current economic and legislative progress made by the Milei government and the advancements towards the development of the large Los Azules copper mine located in the department of Calingasta in San Juan.

During the meeting, Mr. Meding explained that the objective of the current works at Los Azules is to obtain all the technical information necessary to publish a feasibility study early next year. Currently, Los Azules has 22 drilling rigs operating, which makes it the largest such fleet in the country and one of the largest worldwide.

The Company is planning to begin construction of the mine in 2026 and start production in 2029 if the necessary environmental permits are received and financing is in place. Los Azules submitted its Environmental Impact Report in April 2023 and it is currently under evaluation by San Juan’s mining authorities.

Mr. McEwen described to the President that Los Azules is a solid project that will be developed on the basis of regenerative environmental principles, using innovative technologies to produce pure copper for industrial use that will contribute to closing the gap of the significant deficit in copper production required for the electrification of transportation and the change towards a greener future.

In this regard, he highlighted that in order to move forward with multi-billion dollar investments in the Los Azules project free access to foreign exchange and clear rules are required.

After the meeting, Rob McEwen said that "Argentina has a great opportunity and significant potential to become a mining leader, not only at a regional but also at an international level, and that is what we talked about with President Milei”. (McEwen Copper LinkedIn)

 


Now, Bloomberg reports that Central Puerto SA, Argentina's biggest power supplier, is in talks to invest in McEwen Copper's Los Azules project. TNR Gold holds NSR Royalty on this giant Copper, Gold and Silver Project. 



We are building The Green Energy Metals Royalty and Gold CompanyTNR Gold is plugged into Tesla Energy rEVolution with our Royalty Holdings on the Mariana Lithium Project with Ganfeng Lithium, Los Azules Copper, Gold and Silver Project with McEwen Mining and Batidero I and II Properties of Josemaria Copper-Gold Project with Lundin mining.



On the links below you can find all the latest information about TNR Gold's Royalty portfolio, potential valuations of TNR Gold's NSR Royalty and how Rob McEwen's plan to produce "Green Copper" for Argentina is taking shape. 


Very soon we can have all the right partners to start the construction of Los Azules Copper if companies like Central Puerto will join Rob McEwen, Rio Tinto and Stellantis as investors in McEwen Copper. 

 

"(Bloomberg) -- Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter.

After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is committed to getting involved in a second mining venture, according to one person, who like others didn’t want to be named discussing private negotiations. The company is eyeing Los Azules as well as other gold and silver sites. 

Los Azules, in San Juan province, is one of several Argentine copper projects in different stages of development that could turn the country into a major supplier of the wiring metal in a decade. McEwen wants to start construction of its open pit in 2026, but first it is seeking a capital injection of $130 million to keep exploration work on track.

Billionaire Eduardo Eurnekian’s group, Corporacion America SA, has also been looking at Los Azules, according to people familiar.

Central Puerto produced 15% of all of Argentina’s electricity last year, more than any other company, according to its annual report. It continues to spend on new power plants, but has also been diversifying its commodities portfolio with investments in forestry and, now, mining. About 27% of the company is owned by a handful of wealthy Argentines — Guillermo Pablo Reca and Eduardo Jose Escasany, from the banking industry, and the Miguens Bemberg family led by Carlos Jose Miguens, who already has mining interests. 

The power supplier’s incursion into mining comes amid a broader push by local outfits. Recent investment activity by Argentines includes real-estate mogul Eduardo Elsztain’s purchase last month of a stake in a gold project; Jose Luis Manzano’s winning offer to revive a former Vale SA potash site, a tender in which Corporacion America also bid; and moves into lithium by three national oil drillers.

Argentina shares vast mineral resources in the Andes with Chile, the world’s biggest copper exporter. But a mix of unpredictable politics and environmental opposition has prevented Argentina from unearthing many resources on its side of the mountains.

President Javier Milei, who took office in December on a platform to open up business, is seeking legislative approval for tax, currency and customs benefits for big, long-term investments like mining projects. Milei also wanted to scale back protections for glaciers, which impede some exploration in the Andes, but scrapped the plans as part of a bid to make his aggressive reforms more palatable."






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 NSR Royalty Holding, Rob McEwen: "Los Azules Copper - Equivalent to a Giant Gold Project"



Rob McEwen is making a "Deep Dive" into Gold and Copper markets, junior mining companies and what is happening in Canada in the mining investing space. All TNR Gold shareholders must watch this video to understand the true magnitude of the giant Los Azules Copper, Gold and Silver project in San Juan, Argentina. 


Chart by Nicholas Winton

We are building The Green Energy Metals Royalty and Gold Company and TNR Gold holds NSR Royalty on this giant Copper, Gold and Silver project.

"The Los Azules royalty, according to some calculations, may be worth as much as US$30mln. Rob McEwen himself holds a 1.25% NSR royalty over Los Azules, and he’s been putting some pretty punchy numbers around his own interest in his recent video presentations.

On the assumption of production of 182,000 tonnes of copper per year from Los Azules, and a ballpark copper price of US$10,000 per tonne, TNR could end up receiving income of upwards of US$6.6mln per year from its royalty." (Alastair Ford)



Now you can really appreciate what it takes to find and develop a deposit like Los Azules. Rob shares new details of his journey and how his team managed to attract partners like Rio Tinto and Stellanits. They are aiming to "redefine the mining". Rob McEwen is talking about the future of mining and how you can "make it differently" for the benefit of all stakeholders. We are talking here about the "Red Metal Going Green" during the Energy rEVolution.



Goldman Sachs is talking about Copper price reaching $6.8 per lb driven by the deficit in the market. "If Copper goes to $6 per lb it will put a few smiles on the faces of people around here", Rob explains. "There is a large gap between supply and demand is developing according to Goldman Sachs. And if China comes back on stream, they are the big buyer of Copper... so we could see that number. I will be very happy as Los Azules is projected to be producing copper at $1.7 per lb."



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 70 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.


"We have two great videos from McEwen Mining and 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 discusses the Gold and Copper markets and gives great details about different Copper projects in Argentina and their valuations." 

 


We are pleased that significant developments on the advancement of the Los Azules Copper Project towards feasibility have led to the increased Stellantis holdings in McEwen Copper as a strategic partner of this large copper, gold and silver project. 

In February 2023, Stellantis invested ARS $30 billion, and with additional investment of ARS $42 billion made after the new preliminary economic assessment (PEA) publicationhas a total investment of ARS $72 billion. 



An aggregate of US $65 million in McEwen Copper was also invested by Rio Tinto’s Venture Nuton in 2022 and 2023,” stated Kirill Klip, TNR’s Chief Executive Officer. “TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is decarbonizing mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘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.



“The new president of Argentina introduced important government policies aimed at supporting business and unlocking the country’s economic potential. Mining is being recognized as an integral part of this economic development plan providing jobs and enriching local communities.



“Strong team performance of McEwen Copper is accelerating the advance of Los Azules Project towards completing a feasibility study. The Los Azules Project PEA results highlighted the potential to create a very robust leach project, while reducing environmental footprint, and greater environmental and social stewardship sets the Project apart from other potential mine developments.



“It’s also very encouraging to see an updated independent mineral resource estimate that has increased significantly. These assay results not only validate previous drilling results but also confirm the continuity of mineralization and extend the mineralization.



“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.”



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. In the Alastair Ford article, you can find more information about TNR Gold and benchmarks for our GEM Royalty portfolio.



We are building The Green Energy Metals Royalty and Gold Company. TNR Gold is plugged into Tesla Energy rEVolution with our Royalty Holdings on the Mariana Lithium Project with Ganfeng Lithium, Los Azules Copper, Gold and Silver Project with McEwen Mining and Batidero I and II Properties of Josemaria Copper-Gold Project with Lundin mining.


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, and stay safe and prosper. Join rEVolution!