Showing posts with label Smart Grid. Show all posts

Thursday, 26 January 2023

Tesla Energy rEVolution And The Golden Age For Copper: Kirill Klip GEM Royalty TNR Gold Copper Presentation

"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!

Kirill Klip GEM Royalty TNR Gold Copper 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.

TNR Gold Royalty Holding: Rob McEwen Video - McEwen Mining's 1.25% NSR Royalty on Los Azules Copper "Worth Maybe USD$100 Million After Osisko Royalty Deal"

We have another great video from 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 is discussing Gold and Copper markets and gives great details about different Copper projects in Argentina and their valuations.

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 Projectwith McEwen Mining and Batidero I and II Properties of Josemaria Copper-Gold Project with Lundin mining.

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.

Alastair Ford: "TNR Gold’s Royalty On The Giant Los Azules Copper Project is About to Move Into the Spotlight, as McEwen Mining Gets Set for Serious Newsflow"

“We are pleased to see these significant developments on the Los Azules Project and continued support by Rob McEwen of McEwen Copper,” stated Kirill Klip, TNR’s Chief Executive Officer. “It’s very encouraging to see the opportunity to expand the deposit, and the involvement of Rio Tinto, which may accelerate realizing the enormous potential of the Los Azules Project with Rio Tinto’s innovative technology.

The personal commitment from Rob McEwen and his investment of US$40 million enabled the rapid advancement of this deposit to this new phase of development in an appropriate corporate structure. McEwen Copper has raised more than US$81 million and is well positioned for further stages of development of the Los Azules Project.

TNR Gold does not have to contribute any capital for the development of Los Azules. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Monday, 9 January 2023

Powered by Tesla Energy rEVolution: TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Mining Presentation

“We are buiding 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 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.

Los Azules Copper Project** indicated resource: 10.2 B lbs copper, 1.7 Moz gold and 55.7 Moz silver with the additional inferred resource: 19.3 B lbs copper, 3.8 Moz gold and 135.4 Moz silver.

** “NI 43-101 Technical Report – Preliminary Economic Assessment Update for the Los Azules Project, Argentina” dated October 16, 2017. Prepared by Hatch for McEwen Mining."

"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."

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.

Alastair Ford: "TNR Gold’s Royalty On The Giant Los Azules Copper Project is About to Move Into the Spotlight, as McEwen Mining Gets Set for Serious Newsflow"

Proactive:

TNR Gold’s royalty on the giant Los Azules copper project is about to move into the spotlight, as McEwen Mining gets set for serious newsflow

Alastair Ford

How valuable is the royalty held by TNR Gold Corporation on the mighty Los Azules copper project in Argentina?

That’s a question that begs many imponderables, but there’s a fair amount that we can be sure of too.

First, Los Azules is one of the largest undeveloped copper, gold and silver projects in the world. The presence of Rob McEwen and McEwen Mining is one indication of that. And the arrival of a potential development partner in the shape of Rio Tinto subsidiary Nuton Technologies is another.

Nuton put up US$25mln of the US$81.85mln that McEwen raised at the end of August to help it take Los Azules forward.

And the thinking is that when McEwen Mining comes to IPO Los Azules inside its own distinct vehicle – McEwen Copper – Rio Tinto will, directly, or indirectly, be one of the biggest stakeholders.

So, one way or another, the powers that be in mining are lining up to develop Los Azules.

And, with a 0.36% net smelter royalty, that sets up TNR Gold nicely for some serious income in the future.

Exactly how much income remains unclear at the current time. But there’s little doubt it’s liable to be substantial.

Recent estimates from Rob McEwen have argued that if you rolled all the copper, gold and silver up into a gold equivalent resource number it might net out at around 60mln ounces. By any standards, that’s absolutely huge, which takes us back to the reasons why McEwen and Rio are there in the first place.

A preliminary economic assessment completed five years ago, put the net present value of the then smaller resource at US$2.2bn, on the assumption of a US$1,300 gold price. It’s nice to be conservative, but given that the gold price, even with the recent headwinds it’s faced, is still holding its own at over U$1,800, it looks like there’ll be a serious amount of upside on the table when McEwen comes to update its numbers for the project later in 2023.

According to the timetable laid out by McEwen here, the plan is to update the preliminary economic assessment in the first quarter of 2023, then to complete the independent listing of McEwen Copper by the end of the first half of 2023, with a full feasibility study on the project due in 2024, following on from the completion of a massive 59,000 metre drilling campaign.

So it’ll be a little while yet before the cashflow from TNR’s royalty actually starts flowing, but it won’t be much time at all before we have a much clearer idea of valuation.

After all, valuing a royalty is a bit like valuing a project itself – there’s a certain amount of de-risking that must be done before the underlying value can really start to show through.

Here, as 2023 opens, we are at the start of that process. McEwen has set out a clear timetable for the next couple of years, and a potential development partner has shown up with hard cash.

So far, so good.

From TNR’s perspective, and based on what can justifiably be argued at this stage, once Los Azules is up and running, the royalty could generate around US$7mln of pre-tax cash flow per year. That hypothetical is based around an assumption that McEwen will look to produce around 200,000 tonnes of copper per year, and that copper will sell at a ballpark US$10,000 per tonne.

Now, US$7mln per year doesn’t exactly propel TNR up into the same leagues as Rio Tinto or McEwen Mining. But on the other hand, with that kind of income coming towards it, and with the de-risking process that’s going on at Los Azules, there’s a strong argument to be made that TNR itself is undervalued.

For one thing, the current market capitalisation on the Venture Exchange is just over C$7.5mln, or slightly more than one year’s cashflow looking ahead, say, five years.

There is some way to go yet, of course, but there are other assets to take into account. TNR also holds a substantial royalty on the Mariana lithium project, currently under construction by giant Ganfeng Lithium, the Shotgun gold project in Alaska, and has benefitted from a recent cash injection. With all that in mind, there is some merit to the argument that the current market capitalisation is on the mean side.

After all, these other projects are not lying idle.

TNR Gold started a new round of exploration at Shotgun in August, preparing the project for a potential strategic partnership with one of the major gold mining companies.

For the moment, though, it’s still arguable that the Los Azules royalty is the jewel.

The upside to value is undeniably significant, especially if you take into account the valuations placed on comparable royalties that have recently changed hands, such as that on First Quantum’s Taca Taca project, also in Argentina. This royalty, which at 0.24% was smaller in percentage terms, changed hands for US$12.75mln a couple of years ago when it was acquired by Nova Royalty Corp. (TSX-V:NOVR)

So, what price a royalty in the same jurisdiction but on a bigger project and overing a bigger percentage of the net smelter return?

Speculation in the market has been that it might be worth as much as US$20mln, or slightly under three times TNR’s current market capitalisation.

For the time being TNR’s chairman, Kirill Klip, has no plans to sell. He knows how much upside there is left, both at Los Azules, and inside the wider TNR portfolio.

“We are pleased to see these significant developments on the Los Azules project and continued support by Rob McEwen of McEwen Copper,” he says.

“It’s very encouraging to see the opportunity to expand the deposit, and the involvement of Rio Tinto, which may accelerate realizing the enormous potential of the Los Azules project with Rio Tinto’s innovative technology. The personal commitment from Rob McEwen and his investment of US$40mln enabled the rapid advancement of this deposit to this new phase of development in an appropriate corporate structure. McEwen Copper has raised more than US$81 mln and is well positioned for further stages of development of the Los Azules project.

With newsflow from McEwen Mining all set to move up a gear, it might now only be a matter of time before the wider market starts waking up to the potential in TNR too."

Thursday, 8 December 2022

TNR Gold Royalty Holding on Los Azules Copper, Gold and Silver Project: "McEwen Mining Lines Up Copper IPO as Argentina Project Advances"

Mining.com reports that Bloomberg brings Rob McEwen and the giant Los Azules Copper, Gold and Silver Project into the headlines again. Drills are turning fast at Los Azules with more than 2,000 m drilled already in the new 2022 - 2023 season in Argentina. TNR Gold shareholders can expect the new drilling results coming soon, while Rob McEwen is talking about the opportunity to expand the Los Azules deposit.

"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."

"Nova Royalty Corp paid US$12.75mln for a smaller-sized royalty than TNR’s - which, remember is 0.36% NSR - and at a time when the copper price was much lower.

Some in the market calculate that TNR’s royalty on Los Azules ought to be worth at least US$20mln on that basis, and probably considerably more.

McEwen himself has argued that Taca Taca serves as a good proxy for Los Azules." (Alastair Ford)

Chart by Nicholas Winton

Potential valuations only for TNR Gold 0.36% NSR Royalty Holding on Los Azules Copper, Gold and Silver Project with McEwen Mining can represent the multiples to the recent market cap of the Company.

The most important consideration for your further analysis will be that these potential valuations are based on the real market transactions with Royalties conducted by the sophisticated Royalty Companies with Copper, Gold and Silver prices significantly below the recent levels.

TNR Gold is plugged into Tesla Energy rEVolution with our Royalty Holdings on 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.

Mining.com:

McEwen Mining lines up copper IPO as Argentina project advances

Bloomberg News | December 7, 2022 |

"McEwen Mining Inc. is planning to take its copper unit public next year, seeking to capitalize on growing demand for the wiring metal.

The company run by metals entrepreneur Rob McEwen is preparing an initial public offering for its McEwen Copper business in the first half of 2023, according to Michael Meding, who leads the unit. The company operates in Los Azules, one of the world’s biggest underdeveloped copper deposits.

“These are exciting times to be in mining and in Argentina,” Meding, who was previously at Barrick Gold Corp., said in a phone interview, without providing further details. There’s been increased interest from prospective investors who previously were less active in mining, he said.

McEwen Copper, which landed Rio Tinto Group venture funding in a recent private placement, would go public at a time when copper demand is accelerating while the industry’s production pipeline is running dry. The global shift away from fossil fuels has spurred demand for the metal that goes into electric vehicles and solar panels.

The company currently has eight rigs doing exploration and resource drilling at the Los Azules property in Argentina’s San Juan province. Meding expects to apply for permits as early as mid-April to begin active mining and a feasibility study may be ready in 2024.

Argentina’s government has made efforts to develop more of its vast deposits of lithium and copper, and San Juan in particular is becoming a hot-spot. Lundin Mining Corp. is also drilling large deposits in Los Azules and Glencore Plc is accelerating feasibility work at its El Pachon project.

(By James Attwood)"

TNR Gold Extols its NSR Royalty at McEwen Mining's Los Azules Copper After Rio Tinto Investment

Rio Tinto comes to the giant Rob McEwen's Los Azules Copper, Gold and Silver Project. Rob McEwen answers a lot of very important questions in one brilliant move.

Who can build this giant project? Who has the appropriate balance sheet to finance its development? Who has "the innovative technology to accelerate the realisation of the enormous potential of the Los Azules Copper"?

“We are pleased to see these significant developments on the Los Azules Projectand continued support by Rob McEwen of McEwen Copper,” stated Kirill Klip, TNR’s Chief Executive Officer. “It’s very encouraging to see the opportunity to expand the deposit, and the involvement of Rio Tinto, which may accelerate realizing the enormous potential of the Los Azules Project with Rio Tinto’s innovative technology.

We discussed recently potential valuations for TNR Gold Royalty Holding on Mariana Lithium Project with Ganfeng Lithium. Today you can run again your own numbers for the potential valuations of TNR Gold 0.36% NSR Royalty on Los Azules with McEwen Mining based on the real transactions with Royalties on the other Copper projects in the marketplace.

"Nova Royalty Corp paid US$12.75mln for a smaller-sized royalty than TNR’s - which, remember is 0.36% NSR - and at a time when the copper price was much lower.

Some in the market calculate that TNR’s royalty on Los Azules ought to be worth at least US$20mln on that basis, and probably considerably more.

McEwen himself has argued that Taca Taca serves as a good proxy for Los Azules." (Alastair Ford)

Chart by Nicholas Winton

Potential valuations only for TNR Gold 0.36% NSR Royalty Holding on Los Azules Copper, Gold and Silver Project with McEwen Mining can represent the multiples to the recent market cap of the Company. The most important consideration for your further analysis will be that these potential valuations are based on the real market transactions with Royalties conducted by the sophisticated Royalty Companies with Copper, Gold and Silver prices significantly below the recent levels.

"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."

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.