Friday, 28 June 2019

TNR Gold Copper Royalty Holding: McEwen Mining Was Awarded The PAE For The Los Azules Mining Project, Approved By Argentina And Chile, To Facilitate Mining Activity Between Both Countries.

Today our congratulations go to Rob McEwen and all the McEwen Mining Team! The giant Los Azules Copper project has received another validation from Argentina and Chile. Legendary Rob McEwen is developing this very important project and McEwen Mining was awarded the PAE (additional specific protocol) for the Los Azules project, approved by Argentina and Chile, to facilitate mining activity between both countries. It is our core royalty holding for TNR Gold and you can find more information about it on my blog and TNR Gold website.

PDAC 2019: TNR Gold Updates On Copper & Lithium Royalties And Shotgun Gold Project.

"Los Azules Copper Project NSR Royalty Holding 
In a news release dated February 21, 2019, McEwen Mining Inc. ("McEwen Mining") stated: "Our focus is on delivering near-term production growth from our projects in the United States and Canada, and on advancing Los Azules." The statement gives TNR confidence that McEwen Mining is keen to move the Los Azules project forward. 
In addition, McEwen Mining stated the following on its 100% owned Los Azules project: "We spent $6 million at Los Azules during 2018. The activities performed were mainly technical site investigations and environmental baseline monitoring work, to advance permitting efforts. We are currently investigating a new access route to the project that, if developed into a road, could provide year-round access to Los Azules, greatly accelerating the potential development of the project and reducing operating costs. Our 2019 exploration budget for Los Azules is $3 million." 
McEwen Mining's press releases and website material appear to be prepared by "Qualified Persons" (as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) and the procedures, methodology and key assumptions disclosed by McEwen Mining 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, nor to determine the current mineral reserve or resource or any other information referred to in their press releases. Accordingly, the reader is cautioned in placing any reliance on these disclosures. 
The Company holds a 0.36% royalty on the net smelter return ("NSR") royalty of the entire Los Azules copper project in Argentina. TNR summarized the PEA results in a news release issued on October 10, 2017."

Building The Green Energy Metals Royalty Company: TNR Gold Los Azules Copper NSR Royalty Holding Presentation April 2019.

100% owned by McEwen Mining, TNR holds a 0.36% net smelter return (NSR) royalty on the Project. The Los Azules Preliminary Economic Assessment (PEA) uses commodity price assumptions of $3.00/lb copper, $1,300/oz gold, and $17/oz silver, resulting in an un-discounted net smelter return over the life of the mining project of $35.2 billion, and $10.6 billion using an 8% discount rate. This means TNR’s 0.36% NSR royalty equates to ~$38m life of mine value after applying the 8% discount rate, based on the PEA’s assumptions."


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

BN Americas:

Argentina and Chile ratify commitment to develop sustainable mining

Written by: BNamericas 
Published: Thursday, June 27, 2019

By the Argentine production ministry.

"Chile, June 26, 2019 - Argentine and Chilean authorities have ratified their cooperative ties and advanced on mechanisms that facilitate the development of mining projects, within the framework of the meeting of the administrative commission of the treaty on mining integration and complementation between the two countries.
The work teams of the administrative commission of the treaty are formed, in the case of Argentina, by the secretariat of mining policy of the production and labor ministry, headed by Carolina Sánchez, and by the directorate of economic relations for the Americas, part of the foreign affairs ministry, led by Gustavo Infante. On Chile's side was the mining undersecretariat, led by Pablo Terrazas; and the foreign affairs ministry, assistant deputy secretary, ambassador Ricardo Rojas.
The work agenda included topics of common interest such as the strengthening of the permanent working group on safety and environment, with a focus on the development of policies that encourage investment in new mining projects along with the best practices for the development of responsible mining and care for the environment.
The authorities worked on the additional specific protocol (PAE) at Vicuña and Filo del Sol and received the legal representative of the applicant company who highlighted the benefits that the PAE Vicuña implied for the project throughout the exploration stage. McEwen Mining was awarded the PAE for the Los Azules mining project, approved by Argentina and Chile, to facilitate mining activity between both countries. The representative of the company stressed the importance of the treaty in terms of logistics coordination and the competitiveness that this generates for the company.
Likewise, the guidelines of an internal procedure were established to unify approval in the border areas between both countries through the early intervention of the mixed boundary commission.

The objective of the mining treaty between Argentina and Chile is to promote physical integration and economic cooperation. In this sense, both countries are committed to work on border facilitation with the objective of promoting the development of the mining sector, enable access and exit from the areas of operations from both territories and allow the use of natural resources, inputs and infrastructure as established by the teams of technical specialists."

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