McEwen Mining provides us with new Los Azules Copper Project update: "With The Increasing Copper Price, We Have Received A Heightened Level Of Interest In Los Azules From Major Mining Companies" Rob McEwen is presenting giant Los Azules Copper Project "as one of our most valuable yet under-appreciated assets". This project can be considered as a giant stand-alone Silver project with credits from Gold and Copper! As you know, TNR Gold is plugged into Tesla Energy rEVolution with our Royalty Holdings on Los Azules Copper with McEwen Mining and on Mariana Lithium JV with giant Ganfeng Lithium as the operator.
Our projects are growing and we are moving forward. Our investors were already digesting Taca Taca Copper Royalty deal, which brought a very important benchmark for the potential of TNR Gold Los Azules Copper Royalty valuation. Today we have more information from the legendary Rob McEwen about his vision and how he is going to move forward this "Sleeping Giant" in Argentina.
I continue to invest in our Company and other insiders joined me. Now you can see how the very powerful megatrends are manifesting themselves. We are building The Green Energy Metals Royalty and Gold Company. Do your own research and join The Switch and rEVolution. Buckle up and stay safe.
McEwen Mining:
McEwen Mining: A Warm Welcome & 2021 Production Guidance
TORONTO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to extend a warm welcome to all our new shareholders, provide production guidance for 2021 of an expected 141,000 to 160,400 gold equivalent ounces (GEOs)(1), and discuss one of our most valuable yet under-appreciated assets, the Los Azules copper project. Beyond the potential of our gold and silver assets, Los Azules provides MUX with large indirect exposure to the growth of the electric vehicle market, renewable energy and the continuing urbanization of Asia.
“ I wish to extend a warm welcome to all of our new shareholders. Some of you may not be familiar with our 100%-owned Los Azules project. According to a study (Preliminary Economic Assessment published in 2017 (2 ) ), it has the potential to generate strong returns at a $3.00/lb copper price. Here are some of the highlights: a 36-year mine life; Capex of $2.4 Billion, a payback in 3.6 years; and annual production in the first 13 years of 410 Million lbs of copper at a cost of $1.14/lb. You may be interested to learn that in terms of value, using today’s metal prices of gold at $1,834/oz, silver at $26.17/oz and copper at $3.51/lb, that approximately 522 lbs of copper are equal to 1 oz of gold or 70 oz of silver, and 7.5 lbs of copper are equal to 1 oz of silver.
Los Azules does not have reserves, but it has Indicated and Inferred resources of:
| Tonnes (Millions) | Average Grade | Contained Metal | |||||||
| Cu % | Au g/t | Mo % | Ag g/t | Cu lbs Billions | Au oz Millions | Mo lbs Millions | Ag oz Millions | ||
| Indicated | 962 | 0.48 | 0.06 | 0.003 | 1.8 | 10.2 | 1.7 | 57.3 | 55.7 |
| Inferred | 2,666 | 0.33 | 0.04 | 0.003 | 1.6 | 19.3 | 3.8 | 194.0 | 135.4 |
Cu = copper, Au = gold, Mo = molybdenum, Ag = silver
General Motors recently announced that it will be aggressively shifting to electric vehicles, producing 30 new electric models within 4 years, and producing only electric vehicles by 2035, which may be followed by the other auto manufacturers and create an increased demand for copper and other metals.
Plans for Los Azules
We are concurrently working on two alternatives to fund the advancement and development of Los Azules. One alternative is to joint venture with a senior industry player to bring the project into production. The other alternative is to spin out Los Azules into a separate company and raise funds for it to aggressively advance the project towards a production decision. With the increasing copper price, we have received a heightened level of interest in Los Azules from major mining companies."
Powered By Tesla Energy rEVolution: TNR Gold Los Azules Copper NSR Royalty Holding With McEwen Mining Presentation.
TNR Gold investors are digesting the news from Argentina and a new benchmark for potential valuation for NSR Royalty on the giant Los Azules Copper Project after Nova Royalty has acquired NSR Royalty on Taca Taca Copper:
"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."
McEwen Mining Chairman, Chief Owner and CEO Rob McEwen said: "With First Quantum acquiring Lumina Copper and their Taca Taca project, Los Azules moves to the forefront in terms of world-class, undeveloped, high-grade copper assets not owned by a major mining company. As we have said in the past, Taca Taca serves as a good proxy for the value of Los Azules and we believe this transaction demonstrates value in projects located in Argentina."
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