Rob McEwen calls Los Azules Copper "Equivalent to a Giant Gold Project". Los Azules is the world's 8th largest undeveloped Copper project and the 4th largest Copper project which is not controlled by a major mining company. With the coming feasibility study, it can become even more significant.
The resource estimate for the Preliminary Economic Assessment released in 2023 was modeled using only drilling results up to the end of 2022.
"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."
Rio Tinto's advanced technology, developed by Nuton, will be used to extract and produce the LBMA Copper plate at Los Azules. Apparently, they like what they see at the project, including the very impressive drilling results from last season.
After its latest investment of US$35M, Rio Tinto increased its total amount invested in McEwen Copper to US$100M. In my opinion, Rio Tinto, the world's second-largest mining company, opens the door to taking a more proactive approach to the development of Los Azules.
This giant company has everything needed to put Los Azules into production: technology, capital and an appetite for M&A, as demonstrated in the last deal in the Lithium sector.
TNR Gold is holding NSR Royalty on the entire Los Azules Copper Project, and we celebrated in December the grant of the environmental permit for the construction and operation of Los Azules Copper mine.
Today, I would like to illustrate the magnitude of this truly giant Gold, Copper, and Silver deposit and Rob McEwen's vision of developing it into the world's first regenerative green copper mine in Argentina.
"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 is moving forward fast after securing the environmental permit for the construction and operation of the Los Azules Copper Project. Following the bold economic reforms introduced by the President of Argentina, Javier Milei, McEwen Copper requested admission to Argentina’s Incentive Regime for Large Investments.
The admission to RIGI could move the Los Azules copper project development closer to the construction decision, which may be made as soon as this year after the release of a feasibility study.
"Next Steps: Towards Feasibility and Construction
With the approval of the EIA, the upcoming feasibility study scheduled for the first half of 2025, and the approval of the application for admission to the RIGI, Los Azules has the potential to begin construction in early 2026, which will strengthen even further McEwen Copper’s position at the forefront of sustainable mining and as a major driver of economic and social development in San Juan." (McEwen Copper)
"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."
Angela Harmantes from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp:
"TNR Gold’s portfolio spans various mining assets, with a key focus on its Shotgun gold project in Alaska and royalties in two advanced-stage projects in Argentina: the Mariana lithium project, owned by Ganfeng Lithium, and the Los Azules copper-gold project, held by McEwen Copper."
"TNR Gold is on the brink of generating significant royalty revenue from its stake in Ganfeng Lithium's Mariana lithium project in Argentina as it heads toward commercial production, Fundamental Research analysts believe.The analysts have raised their share price target for TNR from $0.24 to $0.28 per share, highlighting the imminent cash flow potential from this strategic investment."
(Angela Harmantes)
"TNR Gold is also positioned to benefit from its royalty interests in McEwen Copper's Los Azules project, a large copper-gold deposit in Argentina. The project recently secured an environmental permit for construction and completed a $56 million equity financing. Infill and expansion drilling have extended the mineralization at depth, with an updated resource estimate and feasibility study expected in the coming months.
Analysts estimate annual royalty revenue of $6.5 million from Los Azules, based on conservative copper price assumptions." (Angela Harmantes)
Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.
Please read my legal disclaimer. There is NO investment advice on any of Kirill Klip's feeds and blogs. Always consult a qualified financial adviser before making any investment decisions.
Do Your Own Research.
Copper will be next to shine after the brutal sell-off. I consider the drop in Copper prices to be the aftershock following the burst of the real estate bubble and the direct result of previous lockdowns in China. Now, China is cutting rates and boosting stimulus to reignite its growth. The price of Copper has broken its downtrend and is rising on fear of trade war escalation and new tariffs expectations.
"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)
With this significant 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 inaugurated the first phase of 20,000 LiCl T/Y production at Mariana Lithium on February 12, and the giant Los Azules Copper project secured a permit to build and operate a mine and is moving towards the bankable feasibility study and construction decision.
We repaid our investment loan fully, and our Company has no debt. We believe that the recent market prices of our shares do not properly reflect their underlying value. Our transformation from a project-generating junior mining company into a cash-flow-generating royalty company will provide the necessary catalyst for the market valuation of our assets.
"TNR Gold's 0.36% NSR Royalty could be valued at US$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.
The links below provide you with 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.
No comments:
Post a Comment