TNR Gold NSR Royalty on Los Azules Copper, Gold and Silver Project: "McEwen Eyes Copper IPO As Soon As November for Argentina Project"

Mining.com provides the latest information from Rob McEwen on the upcoming IPO and financing plans for the giant Los Azules Copper, Gold and Silver Project. The latest post-PEA drilling results confirm the PEA mineral resource model and McEwen Copper is firing on all cylinders moving closer to feasibility study. 

"The company hopes to complete the feasibility study late next year or early 2025 and start producing copper toward the end of the decade. Recent investments by automaker Stellantis NV and miner Rio Tinto Group have given the venture more breathing space.

At the same time, McEwen is talking to “various sources” about providing part of the $2.5 billion needed to build the mine, said the founder and former chairman of Goldcorp Inc. Construction financing would probably see McEwen Mining Inc.’s 52% interest in the copper unit “reduced by some degree,” he said." (Mining.com)

 

"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." 

 

"Strong team performance is accelerating the McEwen Copper Los Azules program in 2023. The 2023 Los Azules Project PEA results highlight the potential to create 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 very encouraging to see an updated independent mineral resource estimate that has increased significantly. 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."

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 60 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."

 

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. Below is the Alastair Ford article where 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!

My Vision for TNR Gold and Strategy: Share Buyback, Potential Valuations, and Shotgun Gold Project Spinout

TNR Gold Update on NSR Royalty – Los Azules Copper, Gold & Silver Project – McEwen Mining Preliminary Economic Assessment

TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Mining Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

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.

Mining.com:

McEwen eyes copper IPO as soon as November for Argentina project

"Canadian mining entrepreneur Rob McEwen said he’s weighing financing options for a copper project in Argentina, with an initial public offering possible as soon as November.

While McEwen Copper Inc. is funded into next year as it drills the Los Azules project, it may go public later in 2023 or early 2024 to bankroll a feasibility study. The IPO could be in the range of $100 million to $150 million, although another private financing round is also an option, McEwen and copper unit chief Michael Meding both said in an interview.

The company hopes to complete the feasibility study late next year or early 2025 and start producing copper toward the end of the decade. Recent investments by automaker Stellantis NV and miner Rio Tinto Group have given the venture more breathing space.

At the same time, McEwen is talking to “various sources” about providing part of the $2.5 billion needed to build the mine, said the founder and former chairman of Goldcorp Inc. Construction financing would probably see McEwen Mining Inc.’s 52% interest in the copper unit “reduced by some degree,” he said.

The prospect of copper shortages — as demand for the wiring metal accelerates in the energy transition — is boosting the appeal of investing in large-scale deposits. Partly as a result, large producers are taking another look at Argentina after interventionist policies had held back the industry.

Despite an uncertain political situation in the inflation-ravaged nation, McEwen is optimistic about being able to move ahead with Los Azules no matter who is in power. The two executives spoke after outsider congressman Javier Milei pulled off an unexpected primary win that upended this year’s presidential race.

(By James Attwood)"