TNR Gold's Kirill Klip discusses $70m financing for McEwen's Los Azules copper project in Argentina
05.07.2024 | NewsDirect
TNR Gold executive chairman Kirill Klip talked with Proactive's Stephen Gunnion about significant developments in the Los Azules copper project in Argentina, in which TNR holds a 0.4% net smelter returns royalty.Klip highlighted the recent $70 million financing round led by McEwen Copper, with Rob McEwen himself investing $5 million and McEwen Mining contributing another $14 million. This financing follows previous substantial investments by Rob McEwen, Rio Tinto, and Stellantis.
Klip emphasised the importance of the project reaching a bankable feasibility study, expected in the first quarter of next year. The recent political changes in Argentina, with new pro-reform measures, are anticipated to benefit the project by reducing red tape and providing tax cuts.
Additionally, Kirill mentioned an update from Fundamental Research Corporation that reiterated a buy rating for TNR Gold and increased its target price. This is based on the ongoing positive developments in the Los Azules project and the favourable business environment in Argentina.
Klip also discussed potential valuations for TNR Gold's NSR royalty from Los Azules, comparing it to similar deals in the industry and highlighting the project's potential to generate significant royalty revenue.
For more insights and updates on TNR Gold and the Los Azules project, make sure to visit Proactive's YouTube channel. Don't forget to give this video a like, subscribe to the channel, and enable notifications for future content.
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