TNR Gold reports significant progress and enhanced valuations at Los Azules project
–News Direct–
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) Executive Chairman Kirill Klip discusses latest developments at the Los Azules project in Argentina with Proactive's Stephen Gunnion, highlighting an improved copper recovery rate, significant project scale, and future potential.
Klip stated that TNR Gold is evolving into a green energy metals royalty and gold company through its portfolio, which includes a 0.4% net smelter returns (NSR) royalty on the giant Los Azules copper, gold, and silver project.
Recent results from McEwen Copper Inc, a subsidiary of McEwen Mining, indicate a 3.2% increase in copper recovery at Los Azules, translating into an additional 172,000 tonnes of copper over the mine's 27-year lifespan. Klip also detailed the project's scale, with a preliminary economic assessment showing 27% increase in total copper, amounting to 11 billion pounds in the indicated category and 27 billion pounds in inferred category. This could equate to 68 million ounces of gold project equivalent.
The Los Azules project, being among the world's ten largest copper projects, promises a substantial economic impact on Argentina. Klip suggested that Argentina offers a favorable political and economic environment for investments, potentially enhancing TNR Gold's valuation.
Additionally, Klip mentioned ongoing drilling campaigns and a forthcoming feasibility study expected in the first quarter of 2025.
The interview also touched on royalty M&A deals and potential valuations, with gold reaching all-time highs and copper expected to follow due to electrification and the green economy transition.
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View source version on newsdirect.com: https://newsdirect.com/news/tnr-gold-reports-significant-progress-and-enhanced-valuations-at-los-azules-project-940441517
TNR Gold Corp
COMTEX_448945675/2655/2024-03-08T08:05:32
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