Wednesday 29 August 2018

Tesla Energy rEVolution And FinTech: How Blockchain Will Transform The Mining And Metals Industry.




We are discussing here the Tesla Energy rEVolution and the importance of mining and security of supply chains in order to make this transition to the Post Carbon Economy happen. Access to the advanced materials and Green Energy Metals are at the very base of the new distributed energy generation systems with smart grids which will power our future. The dramatic decrease in cost for Solar and Wind power generation is making it possible. Cheaper lithium batteries change everything. Now we can produce energy, store it and consume when we need it. Unbelievable performance of Tesla's electric cars clearly demonstrates the success in advancing of this technology.




Despite all incredible progress with the technology, which we are all enjoying at this moment, the very base of this leap into the future is still hardly revolutionized. Metals which are making all our gadgets tick are still at the mercy of the old multi-year long mining cycle. Extraction technology has improved, exploration is using more and more advanced methods, but still, you can hardly find really tectonic shifts which can break the cycle which is taking too long for the appetite of the modern investors. Maybe urban mining will become that thing when your exploration can be literally on the streets and the best extraction technology will define the success.




The other integral parts of the mining cycle: exploration and development of the new mining projects are literally in the free fall meaning that we are witnessing the very significant decrease in the amount of capital available for this activity and an even larger decrease in the number of the new projects being developed into the production stage.

Junior miners have been thriving for decades in this very important part of the mining cycle, but now financing flow available for this activity has dried up. Years of low commodities' prices, fear, uncertainty and doubt have pushed investors away from the junior mining sector. The demographic situation is not helping as well, Gold Bugs are facing extinction and millennials are chasing crypto bubbles.




There will be EToys and AtHomes of the crypto haze with found and lost fortunes along the way: there are more than 800 cryptocurrencies which are dead already. But if the Internet Revolution can provide us with any guidance the core technologies like Blockchain will stay. This sector has attracted and developed already a very significant pool of capital chasing the dreams.

All this situation can provide one of the best "Time Arbitrage" opportunities, as Mark Yusko - Morgan Creek Capital CEO - likes to talk about some of the investment ideas on his feed. Recent bloodbath in commodities was the result of the hotheads making even hotter headlines. Trade Wars come and go and unless there will be a total collapse of the financial system, critical commodities like copper will enjoy much higher prices. Actually, we can have now one of the best entry points in our sector now.




Price shocks are imminent and will be followed by the much higher prices for the Green Energy Metals. We have too mega trends colliding: The Switch to Clean Energy which will demand more and more energy metals like copper and production deficit which will be increasing every year with diminishing reserves and going down head grade. Resource nationalism will only exaggerate this looming supply deficit.




Our ability to cross this "digital divide" and connect capital chasing crypto bubbles with solid values provided by mining industry can determine the geopolitical future for many sectors of the evolving technologies like Solar, Wind, Energy Storage and Electric Cars. The alternative will be the Oligopolies controlling the supply of the critical commodities created by States and Sovereign funds backed by those states.




John Davies and I have started this conversation, which I would like to share with you today. The article below by Max Weiland provides some general ideas for integrating blockchain technology into the mining industry. I am personally very excited to explore these new opportunities which we can bring to our GEM Royalty TNR Gold. We would like to go further and find the way to engineer products which will be connecting capital allocated for FinTech sector and solid values provided by our potential Royalty cash flow streams in the future.  This will be the ultimate "Time Arbitrage". We are open to all new ideas and partnerships. Please step in and share your ideas - you know where to find us.






Tesla Energy rEVolution Chronicles: John Davies - "Said Simply, In The Long Game Copper Is Gold."



"In the long game, ‘copper is gold’ as the demand for the base metal will suffer significant supply deficit due the demands of the ‘EV revolution’, related battery storage sector, the continued growth of ‘green energy’ and global infrastructure demands. This deficit is due in part to the lack of high quality copper readily available and the simple realisation there has not been sufficient investment in new projects in recent years.   
The present price retracement of copper, as well as the entire base metal sector, only exacerbates the concern, as the development of more speculative and or early projects will be jeopardised and thus create further fundamental strength going forward.   
Said simply, in the long game copper is gold."    
John K. Davies TNR Gold, Special Advisor to the Board



LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.


World Economic Forum:

4 ways blockchain will transform the mining and metals industry

Max Weiland

"The mining and metals industry is a critical component of the global economy. However, many operational and commercial practices remain inefficient and antiquated, leading to critical data omissions, security vulnerabilities and even corruption. 
Blockchain technology has the potential to fundamentally change the way the mining industry and connected supply chains operate. Blockchain is an immutable and cryptographically secure archive of records stored on a distributed ledger, which uses smart contracts built on the Ethereum platform. The technology facilitates stakeholders connected on a chain to securely exchange critical trade documents, such as bills of lading and letters of credit, via the use of smart contracts. The benefits of blockchain technology link perfectly to the commercial and operational aspects of mining, metals and other industries in the broader value chain such as shipping.








1. Fewer paper exchanges

To say that trade in minerals and metals is a paper-heavy process is an understatement. In shipping, for example, cargo is still for the most part only redeemable against a paper bill of lading. To make matters even more cumbersome, in shipping, whether in bulk or by container, there are multiple intermediaries forwarding information and documents via email and fax. Yes, fax. In some instances, cargo is held up at port because the physical paperwork needed to redeem it has not yet arrived. Similar examples can be found across the wider mining and metals value chain, from the letters of credit required for trade finance to the surveying certificates issued by laboratories certifying the grade of a commodity such as copper. 

2. Faster transactions and broad adoptability

The synchronised nature of blockchain will allow ecosystem participants to be notified of trade developments at the same time. This will result in swifter consensus on additional trade terms, such as a shipment schedule, between parties. In addition, the exact nature of information logged on the blockchain, combined with synchronicity, should reduce the number of disputes and make their resolution more straightforward. 
Blockchain solutions are applicable to all stakeholders connected to the broader value chain, from financial institutions and ship operators to surveying laboratories, warehouses and many others. It is hoped this will drive innovation and compliance beyond mining and smelting and into connected industries that might otherwise have lacked the resources to develop technology to address these needs.








3. Compliance

Mining and metals companies, despite significant improvements in the areas of sustainability and compliance, must continue to innovate and remain up-to-date. A recent report by CNN suggested that child labour was still a prominent issue in relation to the mining of cobalt, for example. Socially responsible, tech-empowered consumers are already scrutinizing the circumstances connected to minerals and metals, such as cobalt, found in their cars and smartphones. The influence these stakeholders currently have on the opinions of their peers through social networks is already evident, and the prominence of this tendency is likely to increase. An additional dimension and benefit of blockchain can be leveraged to develop applications that address compliance, transparency and accountability.
Because the ledger in projects such as the new blockchain consortium Minerac (short for “Mineral Chain”), which I lead, will be shared, all parties involved in a transaction can be confident the data is up-to-date. This will reduce errors and create greater overall transparency, eliminating the potential for malevolent actors to take advantage of loose record keeping.

4. Sustainability 

Blockchain can also be used to develop comprehensive end-to-end tracking of ores and minerals. The process would require sealed bags or containers of concentrates and ore to be stamped with a unique identifying ID that will subsequently be logged on the blockchain. The ID will contain information on the quality and quantity of each parcel of ore or concentrate, as well as being continually updated with an ongoing timeline tracking and logging movements. The initial applications of this are twofold; first, it will provide clients with peace of mind when transporting high-value minerals, and second; it will help confirm that the minerals being purchased are from compliant and conflict-free regions. However, the risk that concentrates and ores could be mixed with materials of undetermined origin prior to being sealed in a bag and assigned an ID remains a possibility. 

The future

The future of both blockchain and the digital economy is still undetermined; however, the technology is evolving quickly and so far it is clear that there are compelling use cases for the mining, metals and connected value chains. Early adoption and experimentation will at the very least better prepare organisations for what is set to be a fundamental part of business technology going forward, but could also establish pioneering new frameworks for conducting and managing sustainable, international trade flows."

Friday 24 August 2018

TNR Gold Los Azules Copper Royalty Holding With McEwen Mining: Rob McEwen - Trade Wars, the Dollar and Precious Metals.



"Also in Argentina, we have 100% of a very large copper deposit, Los Azules, with about 30 billion pounds of copper. We are working on an access route that would dramatically change the value of this project. Currently, we're only able to get in and explore this property about four and a half months of the year because we have to go over two high mountain passes that get blocked by winter snow. We believe we've found a route from the north that would allow us 12-month access below the snow line, which would dramatically improve the value by giving us year-round access and low altitude power, and it would make our drilling and exploration and development costs a lot cheaper if that works. 
Rob McEwen."




Supply For Tesla Energy rEVolution. GEM Royalty TNR Gold NSR Copper Holding With McEwen Mining: "Los Azules - Our Sleeping Giant."




Security of Lithium Supply is in the headlines, finally. Discovery of the Copper place in Tesla Energy rEVolution will be next. Back into the future: with new record-low prices for Solar whole continents can skip the grid and fossil fuels based energy infrastructure. They can save trillions of dollars in associated CAPEX and move directly into 21st century Post Carbon Economy. Solar and Micro Grids can power Africa, India and South America. Copper is the red metal which is going Green supercharging electric cars and renewable energy infrastructure.





InvestorIntel: TNR Gold Fine Tuning Royalty Model For Green Energy Metals.


"But the investment that could return really big bucks is another NSR that TNR holds in the Los Azules copper project in Argentina, currently being developed by former Goldcorp founder Rob McEwen. TNR holds a 0.36% NSR royalty on the project, which could return $35 billion over a 35-year mine life. A looming copper crunch as the market could move into structural deficit by 2020 means that major mining companies are hungry to pounce on attractive projects being developed by juniors. A preliminary economic assessment shows that Los Azules could deliver 415 million pounds (188,241 metric tons) of copper production a year for the first ten years of mine life with cash costs of $1.11 a pound, according to TNR. 
“Investors are putting a larger discount on our cash flow because people do not expect that McEwen Mining will put this project into production,” Klip said. “All majors are looking for a good copper project and there is more and more interest.

LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this post; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.




Streetwise Reports:

Rob McEwen: Trade Wars, the Dollar and Precious Metals

"The Gold Report: Prices of some commodities have been falling. What are your thoughts on the current commodities market? 
Rob McEwen: The commodities market has been adversely impacted by the strong dollar and the discussion of a trade war possibility, which may already be happening. With the economies of America, Europe and Asia picking up, most investors are asking, why buy gold or silver? The dollar is the key. When it starts dropping, we will see the price of gold, silver and all commodities improve. 
TGR: What is your sense of that? Do you think that we might be in for a longer period with a stronger dollar? 
RM: Many foreign governments and companies borrowed in dollars, thinking the dollar was going lower relative to their own currencies. But the dollar has done the complete opposite. So now, these borrowers of $US are being squeezed as their borrowing costs have risen dramatically. This is creating financial distress in certain corners of the world. At these locations the price of gold has been climbing quickly.
When will we see the gold price going up in America? Look to the fall; that is when investors will turn their attention to some of these developing problems that exist outside of America and consider how it will impact America.
TGR: What about gold equities? Do you see their prices recovering irrespective of the price of gold or are the two looped together?
RM: During the past two months, gold equities have been performing better than bullion. In the past, rallies in the gold equities have been an early signal of an improving gold market. When I look at how well the gold equities have held up relative to the drop in the gold price, I'd say that's a very positive sign. Also, there's a seasonality factor to consider. We are entering the fall, which often has been good period for gold and silver.
I'm optimistic about the price right now. It is a good time to be buying. Investors' sentiment is extremely bearish for gold. So, if you are brave enough to act as a contrarian, it's time to buy this sector!..." Continued

Friday 17 August 2018

Tesla Energy rEVolution Chronicles: John Davies - "Said Simply, In The Long Game Copper Is Gold."


"In the long game, ‘copper is gold’ as the demand for the base metal will suffer significant supply deficit due the demands of the ‘EV revolution’, related battery storage sector, the continued growth of ‘green energy’ and global infrastructure demands. This deficit is due in part to the lack of high quality copper readily available and the simple realisation there has not been sufficient investment in new projects in recent years.   
The present price retracement of copper, as well as the entire base metal sector, only exacerbates the concern, as the development of more speculative and or early projects will be jeopardised and thus create further fundamental strength going forward.   
Said simply, in the long game copper is gold."    
John K. Davies TNR Gold, Special Advisor to the Board





Green Energy Metals Royalty Company: TNR Gold Appoints John Davies As Special Advisor To The Board.






"I would like to welcome John to the TNR Gold team," stated Kirill Klip, Executive Chairman of TNR. "John brings to TNR many years of business and financial experience and I am looking forward to working with him on integrating our company into the international capital markets and extending our royalty portfolio in Green Energy Metals."


InvestorIntel: TNR Gold Fine Tuning Royalty Model For Green Energy Metals.




LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

Tesla Energy rEVolution: TNR Gold CEO On The Beginning Of A Megatrend Led By Electric Cars.





LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

Introducing GEM Royalty Co. - The Green Energy Metals Royalty Company TNR Gold Corp.



LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

TNR Gold Los Azules Copper Royalty With McEwen Mining: Tesla Supercharging Mining M&A - Copper Supply Woes On Show With World No. 2 Mine Output To Halve.





Bloomberg is reporting on the further stress coming to the copper supply side. We have the manifestation of the new commodity investment supercycle when two megatrends are converging to create the tectonic shift in the marketplace. The Switch to Renewable Energy Generation and sustainable consumption with Solar, Wind and Electric Cars will demand the secure supply of Green Energy Metals like Copper and Lithium. And this explosive growth in demand for copper will be met with supply side struggling with Resource Nationalism, Labor distractions and head grade going lower all across the industry. 

“The problems facing copper supply are meaningful, widespread and generally underestimated," said David Lilley, managing director of Drakewood Capital Management. "It seems like wherever you look there are challenges be they political, labor unrest, under-investment, ore-grade depletion or some combination of them all." Bloomberg.






Bloomberg is showing these technical challenges for Freeport McMoran at Grasberg copper mine very well today. Years of junior mining sector starvation for capital for exploration resulted in a lack of supply for the new major projects to replenish the production pipelines. "The World's Biggest Miners Want More Copper, But Nobody's Selling."





New projects must be developed and the new wave of M&A will help to redistribute the known resources. But this mining development will take years to bring production online, price shocks are imminent and the Copper price will have to go much higher to allow these new projects development. Next, we can expect the revaluation of copper in the ground for the juniors holding promising properties going into the development stage.




And now majors, finally, have some money to spend on the new acquisitions. In the sharp contrast to the junior mining situation, major mining companies have managed to repair balance sheets. "World's top miners have strongest balance sheets in years." Diversification from coal assets must help as well with pressure from institutional investors. The copper investing game when "Red Metal Goes Green" will be the new mantra for pension funds seeking stable returns with a sustainable profile for the next decade.


LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.





TNR Gold holds NSR Royalty on Los Azules with McEwen Mining with a very impressive USD $127 million potential undiscounted cash flow presented by McEwen Mining in their PEA. I must mention that TNR Gold QP was not able to verify any data presented by McEwen Mining and no indication of values should be taken as an investment advice here, as usual. 





TNR Gold Los Azules Copper Royalty With McEwen Mining: Supercharging The Power House In Argentina - Barrick Gold And Shandong To Take Partnership To The Next Level.


Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this post; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.


Tuesday 7 August 2018

Green Energy Metals Royalty Company: TNR Gold Appoints John Davies As Special Advisor To The Board.


"I would like to welcome John to the TNR Gold team," stated Kirill Klip, Executive Chairman of TNR. "John brings to TNR many years of business and financial experience and I am looking forward to working with him on integrating our company into the international capital markets and extending our royalty portfolio in Green Energy Metals."


InvestorIntel: TNR Gold Fine Tuning Royalty Model For Green Energy Metals.




LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

Tesla Energy rEVolution: TNR Gold CEO On The Beginning Of A Megatrend Led By Electric Cars.





LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.

Introducing GEM Royalty Co. - The Green Energy Metals Royalty Company TNR Gold Corp.



LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.


InvestorIntel:

TNR Gold Fine Tuning Royalty Model For Green Energy Metals.





 | MAY 08, 2018 |

Renowned mining investor Frank Holmes has spoken out about his fondness of mining royalty companies.
In terms of value proposition, they outperform mining equities and serve the important role of connecting exploration plays with financiers during lean bear markets, he says.
Kirill Klip, CEO and President of TNR Gold Corp. (TSXV: TNR), fell into this business model when he bought shares in gold mining royalty company Royal Gold for about $5 each, back when gold traded at $300 an ounce (it hasn’t traded in the $300s since 2003). He cashed out of that investment at over $70 a share and has been hooked on the royalty model ever since, where royalty proceeds funnel into new opportunities, he told InvestorIntel.
Klip says his version of a royalty company is slanted towards metals with high exposure to usage in electrical vehicles – lithium, copper, and even gold. His most mature investment to date is a position in International Lithium Corp. (TSXV: ILC), in which TNR holds a 14.1% equity interest after convertible debentures and warrants are exercised and a 1.8% net smelter royalty (NSR) on the Mariana brine project in Argentina. The key to this project is the involvement of joint venture partner Ganfeng Lithium Co., one of China’s largest processors of the material.
But the investment that could return really big bucks is another NSR that TNR holds in the Los Azules copper project in Argentina, currently being developed by former Goldcorp founder Rob McEwen. TNR holds a 0.36% NSR royalty on the project, which could return $35 billion over a 35-year mine life. A looming copper crunch as the market could move into structural deficit by 2020 means that major mining companies are hungry to pounce on attractive projects being developed by juniors. A preliminary economic assessment shows that Los Azules could deliver 415 million pounds (188,241 metric tons) of copper production a year for the first ten years of mine life with cash costs of $1.11 a pound, according to TNR.
“Investors are putting a larger discount on our cash flow because people do not expect that McEwen Mining will put this project into production,” Klip said. “All majors are looking for a good copper project and there is more and more interest.”
Despite higher prices, other externalities have evolved in favor Los Azules. Investors have returned to Argentina thanks to the reformist policies of Mauricio Macri, who was elected president in 2015 following a decade of rule by protectionist policies by Cristina Fernandez and her predecessor and husband, Nestor Kirchner. Macri’s government fared well during key mid-term elections last October, providing investors with greater optimism that he will be elected to a second term next year. The Argentine government recently signed a bilateral agreement with Chile, a key milestone for Los Azules which straddles the border of both countries.
The third major component in TNR’s portfolio is the Shotgun gold project, located close to NovaGold and Barrick Gold’s Donlin project in Alaska. Early resource numbers suggest the project holds 20.7 million tons of ore with an average gold grade of 1.06 grams a ton, with a 0.5 g/t cut-off grade. Barrick and NovaGold’s project obtained a key environmental approval from the U.S. Army Corps of Engineers in April, indicating the government of Donald Trump is more amenable to mining in Alaska. Once again, external factors are moving in TNR Gold’s favor.
Klip’s next step with Shotgun is to find an exploration partner of the same caliber as McEwen. One of TNR’s board members, Greg Johnson, founded NovaGold and was instrumental in the discovery of Donlin. He is entrusted with the task of finding that partner, Klip said. Don’t bet against TNR repeating the success it has had so far in ILC and Los Azules."

Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this post; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.






GEM Royalty Co.: TNR Gold Shotgun Gold - Barrick, NovaGold Project In Alaska Gets Key Environmental Approval.


LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.


TNR Gold:

TNR Gold Appoints John Davies As Special Advisor To The Board.

"Vancouver, British Columbia--(Newsfile Corp. - August 7, 2018) - TNR Gold Corp. (TSXV: TNR) ("TNR" or the "Company") is pleased to announce that John Davies, a Canadian financial professional with 35 years of experience in financial and capital markets related industries, has been appointed as a special advisor to the board. 
"I would like to welcome John to the TNR Gold team," stated Kirill Klip, Executive Chairman of TNR. "John brings to TNR many years of business and financial experience and I am looking forward to working with him on integrating our company into the international capital markets and extending our royalty portfolio in Green Energy Metals."

TNR Gold Corp. is working to become an energy metals royalty company. Over the past twenty-two 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 and now holds a 0.36% NSR royalty on the entire project, which is being developed by McEwen Mining Inc.
TNR holds a strategic stake in International Lithium Corp. ("ILC"). ILC holds interests in lithium projects in Argentina, Ireland and Canada.
TNR retains a 1.8% NSR royalty on the Mariana Lithium property in Argentina. ILC maintains a right to repurchase 1.0% of the NSR royalty on the Mariana Lithium property, of which 0.9% relates to the Company's NSR interest. The Company would receive $900,000 on execution of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.
At its core, TNR provides significant exposure to gold, copper and lithium through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to 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
For further information concerning this news release please contact +1 604-700-8912
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 wordsSpecifically, 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 PEA, 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 madeand 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 repay its loans or complete any further royalty acquisitionsor sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. 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. and International Lithium Corp. or its joint venture partner, Ganfeng Lithium International Co. Ltd. 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."