TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) executive chairman Kirill Klip talked with Proactive about recent developments on the Los Azules Copper Project. He highlighted McEwen Copper's milestone of securing an environmental permit for the construction and operation of Los Azules, marking a transformative phase for TNR Gold. Klip emphasized that the company holds a net smelter returns royalty (NSR) on the entire project in Argentina.
Klip discussed the impact of Rio Tinto's $35 million investment in McEwen Copper through Nuton Technology, which he described as a significant vote of confidence. He also outlined the technology's role in making Los Azules one of the world's first green copper-generative mines. McEwen Copper plans to release a feasibility study in early 2025, potentially leading to a construction decision next year.
When addressing valuation, Klip noted TNR Gold's royalty on Los Azules could be valued as high as $30 million, referencing similar deals. He added that this transformation could unlock further value for shareholders, moving the company toward cash flow generation.