TNR Gold Executive Chairman Kirill Klip joined Steve Darling from Proactive to discussed recent updates from McEwen Mining regarding the Los Azules copper, gold, and silver project in San Juan, Argentina, on which TNR holds a 0.4% net smelter returns royalty. McEwen Copper announced an additional $35 million investment from Nuton LLC, a venture of Rio Tinto, bringing a significant boost to project funding.
McEwen Copper also recently disclosed a non-brokered private placement of up to $70 million, with the first tranche led by a $14 million investment from McEwen Mining and a $5 million contribution by Rob McEwen. The funds raised will further support ongoing feasibility study efforts for Los Azules, which is slated for release in the first half of 2025.