GEM Royalty TNR Gold Corp.
“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”
Kirill Klip, Executive Chairman,
TNR Gold Corp.
“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”Kirill Klip, Executive Chairman,
TNR Gold Corp.
TNR Gold shareholders are eagerly anticipating further positive developments from Argentina for the Mariana Lithium Project and the Los Azules Copper Project, bolstered by the overwhelming support of the TNR Gold Team and strong endorsement of our strategic direction at the recent Annual General Meeting.
“I would like to thank all our shareholders for your overwhelming support, and the vote of confidence in the TNR Gold Team and our strategy for maximizing shareholders value,” stated Kirill Klip, Executive Chairman of TNR Gold. “Our Company has repaid our investment loan in full, and we do not have any debt. We believe that the recent market prices of our shares do not fully reflect the underlying value of TNR’s assets. Our transformation from a project-generator junior mining company into a cashflow-generating royalty company may bring the necessary catalyst for improved market valuation of our assets.”
Angela Harmantas 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 about to make a strategic shift in its business model and position itself as a revenue-generating royalty firm, according to analysts at Fundamental Research Corp.
Production began earlier this year at the Mariana lithium project, owned by China’s Ganfeng Lithium, with TNR set to begin receiving royalty payments as early as the fourth quarter of 2025.
Based on current spot lithium prices, Fundamental Research estimates annual royalty revenue from Mariana could reach C$1 million." (Angela Harmantas)
"The company's other flagship royalty asset is on the Los Azules copper-gold project in Argentina, controlled by privately held McEwen Copper Inc, a division of McEwen Mining Inc (TSX:MUX, NYSE:MUX). The large-scale, open-pittable deposit holds an estimated 38 billion pounds of copper, 4.7 million ounces of gold, and 159 million ounces of silver. McEwen plans to complete a resource update and feasibility study this quarter, with construction targeted for 2026 and production slated to start by 2029.
FRC projects that TNR’s royalty from Los Azules could generate annual revenues of up to C$10 million at current copper prices.
The firm reiterated its Buy rating and increased a fair value estimate from C$0.28 to C$0.30 per share, compared with a current trading price of C$0.09." (Angela Harmantas)
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.
Dear Fellow Shareholder,
As we approach a pivotal milestone in TNR Gold’s evolution, I am pleased to report that the intrinsic value of our royalty portfolio is increasingly recognized by industry participants. Several established royalty companies have expressed strong interest in acquiring one or more of our assets, particularly our 0.36% NSR royalty on the world-class Los Azules copper project in Argentina.
Our disciplined strategy to maximize shareholder value, combined with a clear action plan to bring these underlying valuations to the broader market, has been the primary driver of our share-price performance in 2025. Year-to-date, TNR Gold shares have risen more than 200%, reaching an intra-year high of C$0.15.
Earlier this year, the Company faced a coordinated attempt by certain parties to depress our share price through the dissemination of misleading information—a tactic the U.S. Securities and Exchange Commission has previously described as a “poop-and-scoop” scheme. The apparent objective was to acquire control of the Company at a deeply discounted valuation at our Annual General Meeting and subsequently divest our royalties at a fraction of their recognized worth.
Thanks to your overwhelming support and the clear endorsement of management’s strategy at the June AGM, these efforts were decisively rejected. This vote of confidence enabled the TNR Gold team to execute our plan unhindered and deliver the substantial share-price appreciation you see today. On behalf of the entire team, I extend our deepest gratitude for your trust.
We remain fully committed to building TNR Gold into a premier green-energy metals and gold royalty company with the realistic potential to achieve a market capitalization in excess of C$100 million.
Independent coverage continues to be supportive. Fundamental Research recently reaffirmed its "Buy" recommendation on TNR Gold and raised its target price from C$0.28 to C$0.30.
My personal share price target for our Company is to reach a minimum of C$0.50, and with all our dedication, your support, and a strong gold market, we can aim at C$1.0 after the successful J/V partnership on the Shotgun Gold Project in Alaska.
Industry discussions and third-party analysis, including recent commentary from xAI’s Grok, indicate that the standalone valuation of our Los Azules NSR royalty alone could exceed the current market capitalization of the entire Company.
Our immediate priority is to crystallize these embedded asset values in the public markets. Successful execution of this objective will position TNR Gold to initiate a share repurchase program following the expected receipt of first royalty payments and, in due course and subject to all regulatory requirements, introduce a dividend policy.
On your behalf, I thank the exceptionally talented TNR Gold team for their dedication and skill in advancing our vision. Together, we have delivered a share-price increase of more than 200% in 2025, and we are now focused on achieving the next 100%+ advance.
Our guiding principle remains unchanged: "Solid values in uncertain times.”
Best and stay safe.
TNR Gold Team.
We build.
There is no investment advice in any of our posts.
Always consult a qualified financial adviser before making any investment decisions.
Do Your Own Research.
Lithium Universe Confirms Signs of Life. TNR Gold NSR Royalty: "Ganfeng's Mariana Project Will Gradually Supply Lithium Chloride Products in a Stable Manner From the Second Half of 2025 Onwards"
Lithium Argentina AG Q3 2025 Earnings Call Summary by Grok:
TNR Gold Los Azules Copper NSR Royalty: Copper Surged to a New All-Time High at $11,200 per Ton on LME
"Rio Tinto, through Nuton, invested an additional $35 million in October 2024, building on prior funding to test and deploy low-water, high-recovery copper extraction methods at Los Azules, a Tier 1 asset with 10.2 billion pounds of reserves and projected annual production of 148,000 tonnes over 21 years at $1.71/lb cash costs. The project's acceptance into Argentina's incentive regime and renewable energy commitments could yield TNR Gold up to C$10 million in annual royalties at current prices, supporting EV supply chains amid rising copper demand, with analysts valuing the royalty above $50 million."
TNR Gold in the Alaskan Elephant Country: Shotgun Gold Project Relationship With Developing NovaGold's Donlin Gold Mining Camp
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