High Tide Resources Corp. press release
TNR Gold Corp boosted by fresh Stellantis investment in McEwen Copper
CSE - Canadian National Stock Exchange · Iron · Copper · Nickel · Cobalt · Canada · Financing
(NewsDirect)
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) Executive Chairman Kirill Klip speaks to Thomas Warner from Proactive London after giant carmaker Stellantis announced its second investment in McEwen Copper, the developer of the Los Azules Project.
Klip explains that Stellantis has invested 42 billion Argentinian pesos, approximately $120 million USD, following a previous investment of 30 billion pesos. He believes the investment reaffirms the confidence in McEwen Copper's potential, valuing the company at around $800 million. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project.
The decision to invest further is driven by a positive Preliminary Economic Assessment (PEA) for the Los Azules project. This PA showcases substantial mineral resources, including over 10.9 billion pounds of copper in the indicated category and up to 26.7 billion pounds in the inferred category. The project is expected to have a 27-year life of mine and produce 175,000 tonnes of copper annually.
Klip says that TNR Gold is also exploring merger and acquisition opportunities in the royalty and mining space, with a special committee focusing on asset valuation. He adds that the company has received interest from various parties, with the Mariana Lithium royalty and Los Azules Project copper royalty among the assets generating significant interest.
Contact Details
Proactive Investors USA
+1 347-449-0879
na-editorial@proactiveinvestors.com
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Earlier from High Tide Resources Corp.
- TNR Gold NSR Royalty Update - Los Azules Copper, Gold and Silver Project - McEwen Copper Announces $10 Million Additional Investment by Nuton, a Rio Tinto Venture
- TNR Gold Corp announces special committee to evaluate M&A opportunities
- TNR Gold NSR Royalty Update - Los Azules Copper, Gold and Silver Project - McEwen Copper Closes ARS $42 Billion Investment by Stellantis
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