“I am pleased to share updates that reflect the continued support of our leadership team and strategic partners for TNR Gold’s development plan,” commented Kirill Klip, Executive Chairman of TNR Gold.
“I have continued to increase my share ownership in TNR Gold, adding an additional 4,200,000 shares this year. My current holding of 31,363,000 shares reflects my ongoing commitment to the Company and confidence in its strategic direction. TNR Gold’s Chair of the Audit Committee, Chief Financial Officer and Vice President, Corporate Development have also increased their ownership positions.”
Kirill Klip added, “As previously announced on July 17, 2026, Altius Minerals Corporation (“Altius”) acquired 7,435,000 shares of TNR Gold at price per share of CAN$0.23, increasing its ownership position in TNR Gold to an aggregate of 30,935,000 shares. Altius’s increased stake reflects their continued strategic interest in TNR Gold’s management team, its strategic plan and TNR Gold’s royalty portfolio. We welcome Altius increasing its strategic, non-controlling stake in TNR Gold.”
Vox Newswire:
Alastair Ford
"It’s interesting to reel off the big names that have become associated with TNR Gold over the years.
First off, the biggest and the boldest is probably McEwen Inc., run by Rob McEwen of Goldcorp fame. TNR owns a royalty on McEwen’s huge Los Azules copper project in Argentina and, by all accounts, has a good and solid working relationship with McEwen.
So, one in the bank for the western world.
Then, there’s Ganfeng, one of the great Chinese lithium concerns, currently bringing production at the Mariana Lithium brine project on stream, also in Argentina. And, yes, TNR owns a royalty on that project too, and is looking forward to first income from it within the very near future.
But the big names don’t stop there.
Back when Kirill Klip, the executive chairman of TNR Gold, first got involved in mining, it was via an association with Lukas Lundin and Lundin Mining – specifically at the famous Tenke Fungurume mine in the Democratic Republic of Congo.
And now, the latest arrival on this impressive roster of big names in the mining sector is Altius, the multi-billion-dollar Canadian royalty concern with assets all round the world.
On the one hand, it’s not hard to see why Altius is attracted to TNR. The royalties that TNR holds dovetail nicely with certain royalties in its own portfolio – its exposure to copper is extensive and it already holds a direct stake itself in Mariana NSR royalty.
Thus TNR and Altius already sit on the same side of the table opposite Ganfeng when it comes to getting paid. Not surprising, too, that Altius fancy a piece of Los Azules, given that this is one of the most attractive copper development projects anywhere in the world, and is slated to come to the market in an IPO in the not too distant future, accompanied by a raise that’s likely to be of the order of US$300 million or more.
Not surprisingly, ahead of that Altius is keen to build as early a position in Los Azules as it can, and that’s why it’s built up a significant stake in TNR Gold over the past several months.
This has been a largely friendly manoeuvre. The arrival of Altius is largely seen as a vindication of the quality of the company’s asset portfolio and, in some eyes at least, of the way it’s been managed.
After all, the TNR Gold team has already delivered major share-price appreciation to the tune of upwards of 770% on some metrics, and repaid a significant investment loan. The company has zero debt and is advancing towards its first royalty cash flow. That’s not bad going after more than 20 years of patient work, across a time period during which many other companies fell by the wayside completely.
Because remember, although there’s money around in mining at the moment, depending on who you are and which market you’re on, times haven’t always been this good. TNR has had to weather some pretty heavy storms, along with the rest of the sector, and to learn how to survive on a wing and a prayer at times.
To that end, the relationships that Kirill Klip has built up over the years have proved enduring and beneficial, and they’ve also provided him with a bit of practice. Now, he’s building a relationship with Altius, too, and so far so good.
Altius first came onto the register earlier this year. It liked what it saw, and came round for a second chunk of shares, to build its stake. Most recently, though, it’s tabled a non-binding proposal to acquire the company outright.
It remains to be seen how this will play out, but one thing we can say for sure at this point: Altius’ is interest is proof positive that there is real value inside TNR. The question is: what might any deal look like?
You can bet that Klip and his experienced team are negotiating hard. They’ve come a long way over the years, and have invested much time and money themselves. What’s more, the lithium price looks to be coming back from its lows, and copper has been riding high for many months now. So, the backdrop is favourable.
How long till we find out the details of what’s being proposed?
Well, probably not too long if anything does become official. Committees are currently meeting to discuss the proposal and, after all, why would anybody wait?
Whatever happens, it’s going to be an intriguing and key chapter in a story that’s taken a while to develop, but which really looks now to be building up to a climax."
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