TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) announced that it has repaid in full the existing long-term investment loan in the principal amount of C$6,943,237 and all accrued interest in the amount of C$696,226.
The green energy metals royalty and gold company also said the operational phase of Ganfeng's Mariana Lithium project in Argentina, in which TNR Gold owns a 1.5% net smelter returns (NSR) royalty, began in January 2023, with production expected to start in 2024 at an estimated 20,000 tons per year of lithium chloride.
“This long-term investment loan allowed TNR Gold to build a strong portfolio of global assets,” TNR Gold executive chairman Kirill Klip said in a statement.
READ: TNR Gold closes partial Ganfeng's Mariana Lithium NSR royalty sale to Lithium Royalty Corp
“We have generated significant capital, extinguished debt and fortified our balance sheet, with TNR now in a strong financial position,” he added.
Klip noted that he believes the company’s royalty holdings are undervalued and are not reflected in TNR’s share price.
He also said strong industry interest in TNR Gold’s assets has been generated, and the company is working on potential new strategic partnerships to increase the market valuations of its royalty holdings.
As well, TNR stated its net profits royalty (NPR) holding on the Batidero I and II properties of the Josemaria copper-gold project, which is being developed by Lundin Mining, represents future growth potential for its royalty portfolio.
TNR added that it is also investigating other potential acquisitions while the company’s main focus remains on the development of its 90% owned Shotgun gold project in Alaska, with the goal of attracting a partnership with a major gold mining company.
Vancouver-based TNR Gold’s business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy revolution, and the gold industry that is providing a hedge for this stage of the economic cycle.
Contact Sean at sean@proactiveinvestors.com