TNR Gold chair discusses royalty on McEwen Mining's Los Azules copper project ahead of July DFS
Published: 10:40 15 May 2025 EDT
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) Executive Chairman Kirill Klip talked with Proactive's Stephen Gunnion about the company’s transition into a cash-flow-generating royalty business and the major catalysts surrounding the Los Azules copper project in Argentina.
Klip described 2024 as a crucial year for TNR Gold, marking its graduation from a project generator to a royalty-focused company. “We are building the green energy metals royalty and gold company,” he said, noting that this shift is expected to crystallize market valuation and support share price momentum.
A key milestone is the upcoming definitive feasibility study for the Los Azules copper, gold and silver project, operated by McEwen Mining. TNR Gold holds a royalty on the entire asset. Klip highlighted the strong economics already demonstrated in the 2023 preliminary assessment and suggested there could be a “substantial increase in all resources” in the updated study.
The project has attracted major strategic investors including Stellantis, which committed over $275 million, and Rio Tinto, which entered via a $100 million venture. Klip also referenced potential new discoveries near the deposit and the possibility of McEwen Copper pursuing an IPO later this year.
Klip added that TNR Gold recently released a corporate update reviewing M&A opportunities in the royalty space, and suggested the company's royalty holding could be valued up to $30 million based on comparable deals.
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