Friday, 29 November 2024

TNR Gold NSR Royalty Holding: "Los Azules is Due to Receive a Key Environmental Permit in Four to Six Weeks - McEwen Copper Seeks $2.5bn for Copper Project in Argentina"

We have another major milestone for the TNR Gold Royalty Portfolio fast approaching. Los Azules Copper Project is due to receive a key environmental permit in four to six weeks! Rob McEwen Team has the full support of the new government in Argentina and this giant Copper, Gold and Silver Project will benefit from bold pro-economic reforms implemented by the new President Javier Milei.

Update December 3, 2024:

"McEwen Copper Secures Environmental Permit for Construction and Operation of Los Azules

TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce the approval of the Environmental Impact Assessment (EIA) for its Los Azules copper project. The Environmental Impact Statement (EIS), which is the ministerial resolution approving the EIA, is a key permitting milestone on the way to feasibility, construction and future operation."

"I like to look at some deposits converted into a Gold equivalent. This deposit is equivalent to 60 million ounces of Gold deposit. Cash costs are on the equivalent basis of just over $600/oz, and the overall cost is just over $1000/oz. It will be producing over 600,000 ounces of Gold per year. In my book, this is one of a hell Gold deposit! That's almost what the Timmins district, the most prolific Gold district in Canada has produced over the last 100 years." (Rob McEwen)

"Goldman Sachs is talking about Copper price reaching $6.8 per lb driven by the deficit in the market. "If Copper goes to $6 per lb it will put a few smiles on the faces of people around here", Rob explains. "There is a large gap between supply and demand is developing according to Goldman Sachs. And if China comes back on stream, they are the big buyer of Copper... so we could see that number. I will be very happy as Los Azules is projected to be producing copper at $1.7 per lb." (Rob McEwen)

"McEwen Copper seeks $2.5bn for Los Azules project in Argentina

Canada’s McEwen Copper is scouting for investors to raise $2.5 billion to move forward with construction of Los Azules copper mine in Argentina, company vice president Michael Meding said in an interview.

McEwen Copper, part of McEwen Mining, is among several international companies looking to extract copper in the mountains of northern Argentina, a region largely untapped for the commodity due to the country’s tough capital controls and volatile economy.

An incentive program under President Javier Milei is now spurring activity, including from major players such as miner BHP, after the country’s only copper mine closed in 2018.

Los Azules is due to receive a key environmental permit in four to six weeks, Meding said. From there, the company hopes around the end of 2025 to start planning for construction.

“We have invested more than $400 million to date. And now we are looking for $2.5 billion for capex,” Meding told Reuters on Thursday.

The project, expected to produce about 175,000 metric tons of copper a year, aims to qualify for Milei’s Incentive Regime for Large Investments, or RIGI, in about three months. The scheme offers 30 years of tax credits, lighter customs duties and a progressive easing of capital controls.

Carmaker Stellantis and Nuton, a unit of global miner Rio Tinto, both hold minority shares of Los Azules, located in San Juan province. Nuton increased its stake with an investment of $35 million in October.

Argentine state-owned company YPF Luz has agreed to provide the mine with 100% renewable energy, mainly solar, Meding said.

European Union officials recently visited the site, and Meding said he discussed with them the project’s social and environmental standards.

“We ticked many of the boxes that make it interesting for a possible European investment,” Meding said." (MINING.com By Lucila Sigal; Editing by Tomasz Janowski and David Gregorio)

With this major vote of confidence from Rio Tinto, the world's second-largest metals and mining company, we are opening a new chapter of TNR Gold's Story and our Green Energy Metals Royalty portfolio in Argentina. Ganfeng Lithium is advancing Mariana Lithium into the production phase this year and the giant Los Azules Copper project is moving towards the bankable feasibility study, obtaining the permit to build a mine and construction decision.

Last year we repaid our investment loan in full, and our Company has no debt. We believe that the recent market prices of our shares do not properly reflect the underlying value of the shares. Our transformation from the project generation junior mining company into the cash flow generating royalty company will bring the necessary catalyst for the market valuation of our assets.

"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. In the Alastair Ford article, 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 the links below you can find all the latest information about TNR Gold's Royalty portfolio, potential valuations of TNR Gold's NSR Royalty and how Rob McEwen's plan to produce "Green Copper" for Argentina is taking shape.

TNR Gold NSR Royalty on Los Azules: Rob McEwen Presents the World's First Regenerative Green Copper Mine in Argentina

Today, we have the opportunity to listen to Rob McEwen's presentation about the world's first regenerative green Copper mine in Argentina. This giant Copper, Gold, and Silver project is attracting increasing attention in the industry and among investors. TNR Gold is holding NSR Royalty on the entire Los Azules Copper Project and our shareholders will benefit from the progress towards a feasibility study and the permit to build this mine.

"I like to look at some deposits converted into a Gold equivalent. This deposit is equivalent to 60 million ounces of Gold deposit. Cash costs are on the equivalent basis of just over $600/oz, and the overall cost is just over $1000/oz. It will be producing over 600,000 ounces of Gold per year. In my book, this is one of a hell Gold deposit! That's almost what the Timmins district, the most prolific Gold district in Canada has produced over the last 100 years." (Rob McEwen)

Rob McEwen Presents The World's First Regenerative Green Copper Mine in Argentina at Zurich 2024

TNR Gold NSR Royalty on Los Azules: "McEwen Copper Receives Additional $35m Investment from Rio Technology Venture"

We have another very significant development and a major vote of confidence for Argentina's giant Los Azules Copper, Gold and Silver deposit and TNR Gold NSR Royalty holding. McEwen Copper receives an additional USD $35 million investment from Rio Tinto's Technology Venture Nuton. This new investment brings the total Rio Tinto Investment in McEwen Copper to USD $100 million.

It is important to note, that this new additional investment is coming from Rio Tinto after the new PEA was released last year and just a few months before the bankable feasibility study will be released in Q1 2025.

"TNR Gold shareholders can learn more about the project and McEwen Copper's progress in advancing it to the feasibility study. "We are looking to take it public in the first half of the next year, once we have a bankable feasibility study in hand and the permit to build", explains Rob. "We are currently making financing with the implied valuation for Los Azules Copper of just under One Billion US Dollars".

Rob McEwen continues investing personally in McEwen Copper as well. He has provided McEwen Copper's initial investment round with USD $40 million lead offer and invested USD $5 million in this financing round. McEwen Mining has invested USD $14 million. The world's fourth largest automaker Stellantis has invested a total of USD $275 million in McEwen Copper in two previous financing rounds.

"The special features of the Los Azules project include a new architecture for mine construction and design. The project will be powered by energy from renewable sources, be carbon neutral and will feature a "people friendly" working environment boasting terraced living accommodation and food production." (ABN Newswire)

Rio Tinto's advanced technology developed by Nuton will be used to extract and produce LBMA Copper plate at Los Azules. Apparently, they like what they see at the project including the very impressive drilling results from the last season.

"Exploration over our property has produced an intriguing target, late in the season. Initial results of a concession-wide regional mapping and sampling campaign have identified strong evidence of a large porphyry system 3 kilometers east of the Los Azules deposit. Porphyry-style veining and quartz vein stockworks with copper oxide mineralization have been recognized within this new target, with assay results pending."

In my personal opinion, after this new investment, Rio Tinto is opening the door to taking a more proactive approach to the development of Los Azules. This giant company has everything that is needed to put Los Azules into production: technology, capital and an appetite for M&A, demonstrated in the last deal in the Lithium sector.

The bold pro-business reforms in Argentina were advanced by the new President Javier Milei and will support the development and positively affect the Los Azules Project's economics. Argentina now has everything to become the Powerhouse of Tesla Energy rEVolution.

With this major vote of confidence from Rio Tinto, the world's second-largest metals and mining company, we are opening a new chapter of TNR Gold's Story and our Green Energy Metals Royalty portfolio in Argentina. Ganfeng Lithium is advancing Mariana Lithium into the production phase this year and the giant Los Azules Copper project is moving towards the bankable feasibility study, obtaining the permit to build a mine and construction decision.

McEwen Copper receives additional $35m investment from Rio technology venture

"McEwen Mining (NYSE: MUX) (TSX: MUX) said on Thursday that its McEwen Copper unit has secured an additional $35 million investment from Nuton, a leaching technology venture created by Rio Tinto, to support the feasibility study for its Los Azules copper project in San Juan, Argentina.

In June, McEwen Copper announced a private placement financing of up to $70 million through the issuance of approximately 2.33 million shares at $30 per share. Under the first tranche, the McEwen unit received a $14 million investment its parent company and a $5 million investment from Rob McEwen, its chairman and chief owner.

Nuton’s $35 million investment represents the second tranche of that financing, with the purchase of nearly 1.17 million shares. Two other investors also participated in this tranche for a total of $2 million.

Together with the first tranche, McEwen Copper has now raised a total of $56 million for the Los Azules project.
Los Azules project

Los Azules is an open-pit copper deposit located 80 km northwest of the town of Calingasta and 6 km east of the border with Chile at an elevation of 3,500 metres in the Andes Mountains. The extent of mineralization along strike exceeds 4 km and the distance across strike is approximately 2.2 km.

The copper resource contains 10.9 billion lb. in ore that grades 0.40% copper in the indicated category and 26.7 billion lb. in material averaging 0.31% copper in the inferred category. This resource is expected to support average production of 322 million lb. of copper in cathodes per year over a projected 27-year life.

According to a June 2023 preliminary economic assessment, Los Azules would have an estimated after-tax net present value (at a discount rate of 8%) of $2.7 billion and internal rate of return of 21.2%, based on an assumed copper price of $3.75/lb. Its payback period is 3.2 years.

McEwen Copper is currently working a bankable feasibility study for the project, which is scheduled for publication in the first half of 2025.
Shareholding update

The copper subsidiary was created by McEwen Mining in mid-2021 with a view of maximizing the value of its copper assets. A year later, it received its first investment from Nuton, while also establishing a partnership with the Rio venture to assess the potential application of its heap leach technology at Los Azules.

According to the companies, heap leaching would offer superior economic and environmental benefits over the conventional milling methods. The project is also expected to be powered by 100% renewable energy, with a commitment to reach carbon neutrality by 2038.

Following the latest round of financing, Nuton now owns 17.2% of McEwen Copper on a fully diluted basis, nearly doubling its initial shareholding. Its other notable shareholders are: McEwen Mining (46.4%), Stellantis (18.3%), Rob McEwen (12.7%) and Victor Smorgon Group 3.0%.

With the new share issuances, McEwen Copper now has approximately 32.8 million common shares outstanding, giving it a post-money market value of $984 million." (Mining.com)

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.

TNR Gold NSR Royalty on Los Azules: "Rob McEwen Speaks with ABN Newswire about the Los Azules Copper Project in Argentina"

Friday, 22 November 2024

TNR Gold Chairman Says Ganfeng Lithium Reaffirms First Production from Mariana Lithium in 2024

"Following the confirmation of the continued exponential growth for EV sales, the Lithium market shows signs of life. Lithium prices are slowly recovering following the cut in production and growing demand."

"Energy storage will drive the next chapter of Lithium demand and humanoid robots will be coming next into the picture with every headline about groundbreaking technological progress."

“We are building the green energy metals royalty and gold company”, commented Kirill Klip, Executive Chairman of TNR Gold. “Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.

“Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle; the potential of blue-sky discovery at Shotgun Gold Project, and important partnerships with industry leaders Like Ganfeng Lithium, McEwen Mining and Lundin Mining as operators on the projects that have the potential to generate royalty cashflows that will contribute significant value for the Company.

“Last year we repaid our investment loan in full, and our Company has no debt. We believe that the recent market prices of our shares do not properly reflect the underlying value of the shares. Our transformation from the project generation junior mining company into the cash flow generating royalty company will bring the necessary catalyst for the market valuation of our assets.

Representatives of Ganfeng Lithium also confirmed to the Governor of Salta Gustavo Sáenz that the Mariana Project, on which construction began in June 2022, will start producing, in 2024, an estimated 20,000 tons per year of lithium chloride. The Government of Salta has stated that Ganfeng Lithium announced that the operational phase of the Mariana Lithium Project began in January 2023. We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.

“TNR does not have to contribute any capital for the development of the Mariana Lithium Project, the Los Azules Copper Project or the Josemaria Project. The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

TNR Gold Investor Presentation: Building The Green Energy Metals Royalty and Gold Company 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.

TNR Gold:

NEWS RELEASE

TNR Gold NSR Royalty Update – Ganfeng reaffirmed its plans to Start Production at Mariana Lithium by the End of 2024

"Vancouver, British Columbia – November 18, 2024: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that Ganfeng Lithium has provided an update on the Mariana Lithium Project in Argentina. TNR holds a 1.5% NSR Royalty on the Mariana Lithium Project, of which a 0.15% NSR Royalty is held on behalf of a shareholder.

Ganfeng Lithium has announced in its Interim Report published on September 30, 2024, that it continues to advance the construction of the Mariana Lithium Project. Ganfeng reaffirmed its plans to start production by the end of 2024.

“We are very pleased that the Mariana Lithium Project is progressing smoothly towards commercial production scheduled for 2024. At the 13^th International Seminar on Lithium in South America, organized in Jujuy by Panorama Minero, the President of Ganfeng’s subsidiary Litio Minera Argentina S.A., Jason Luo confirmed that “the production phase will begin at the end of 2024”. Representatives of Ganfeng Lithium also confirmed to the Governor of Salta Gustavo Sáenz that the Mariana Project, on which construction began in June 2022, will start producing, in 2024, an estimated 20,000 tons per year of lithium chloride. The Government of Salta has stated that Ganfeng Lithium announced that the operational phase of the Mariana Lithium Project began in January 2023. We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.

ABOUT TNR GOLD CORP.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.

Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that have the potential to generate royalty cashflows that will contribute significant value for our shareholders.

Over the past twenty-eight years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the Company’s expertise, resources and industry network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina among many others have been recognized.

TNR holds a 1.5% NSR Royalty on the Mariana Lithium Project in Argentina, of which 0.15% NSR royalty is held on behalf of a shareholder. Ganfeng Lithium’s subsidiary, Litio Minera Argentina (“LMA”), has the right to repurchase 1.0% of the NSR royalty on the Mariana Project, of which 0.9% is the Company’s NSR Royalty interest. The Company would receive CAN$900,000 and its shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45% NSR royalty and its shareholder holding a 0.05% NSR royalty.

The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report, and the construction of a 20,000 tons-per-annum lithium chloride plant has commenced.

TNR Gold also holds a 0.4% NSR Royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder. The Los Azules Copper Project is being developed by McEwen Mining.

TNR also holds a 7% net profits royalty holding on the Batidero I and II properties of the Josemaria Project that is being developed by Lundin Mining. Lundin Mining is part of the Lundin Group, a portfolio of companies producing a variety of commodities in several countries worldwide.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties.

At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and is committed to the 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

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

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 words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s corporate objectives, and future potential transactions being considered by the Special Committee and the Board. 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 SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and 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 enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. 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., Ganfeng Lithium and Lundin Mining 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."