TNR Gold upbeat on McEwen’s Los Azules Copper drill campaign
–News Direct–
TNR Gold Corp executive chairman Kirill Klip speaks to Thomas Warner from Proactive London about recent developments of interest to the green energy metals royalty and gold company.
Klip reminds viewers that the company holds a Net Smelter Returns (NSR) royalty over the entire Los Azules Copper Project, where notable developments have taken place. McEwen Copper, with significant investments from Rio Tinto and Stellantis, has invested a substantial amount, with Rio Tinto contributing close to $65 million.
Rob McEwen is leading a major drilling campaign, increasing the initial plan from 45,000 meters to 48,000 meters.
Klip says the recent drilling campaign is of particular importance as it follows positive results released by McEwen Copper this summer. The total copper resource has increased by 27%, with 10.9 billion pounds of copper in the indicated category and 26.7 billion pounds in the inferred category.
Klip highlights the significance of the upcoming feasibility study, expected to be released in the first quarter of 2025. The FS is crucial for project development, showcasing robust economics with a projected 27-year life of mine and an average copper production of 175,000 tons annually.
The potential royalty cash flow from the project for TNR Gold is estimated to reach up to $6 million per year pre-tax.
Addressing the recent, rejected, offer for TNR Gold from Lithium Royalty Corp, Klip hints at the increasing interest in copper royalties, citing recent deals in the royalty space as evidence.
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View source version on newsdirect.com: https://newsdirect.com/news/tnr-gold-upbeat-on-mcewens-los-azules-copper-drill-campaign-389366353
TNR Gold Corp
COMTEX_443516350/2655/2023-11-15T12:15:03
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