TNR Gold Corp announced it has arranged a new long-term investment loan of C$6.9 million with its lender.
The new loan matures at the end of July 2023 and was granted under a previously established long-term investment loan facility, according to TNR.
The company said it will repay in full its existing long-term investment loan, including all accrued interest, by the maturity date of January 31, 2022.
READ: TNR Gold updates on work progress at the Los Azules copper project under its royalty portfolio
Kirill Klip, TNR’s executive chairman, told shareholders that the move is a “resounding show of confidence” in TNR’s long-term business strategy and its portfolio of assets.
"We can now concentrate our efforts on building this green energy metals royalty and gold company by maximizing the value of our royalty portfolio of lithium, copper, gold and silver projects that are instrumental in the electric vehicle and green energy sectors,” Klip said in a statement.
“We believe that our royalty holdings are undervalued, and their appropriate values are not reflected in (the) company's share price. TNR Gold has industry interest in our assets and the company is working on potential new strategic partnerships to provide benchmarks for the market valuations of our royalty holdings.”
READ: TNR Gold updates on Royalty Holding after ILC says Ganfeng subsidiary Litio Minera Argentina assumes all rights and obligations in respect of Mariana Lithium
Klip went on to say that the firm’s holding on the Batidero I and II properties with Josemaria Resources – where it holds a 7% net profits royalty – represents future growth potential for its royalty portfolio. The company is also investigating new potential acquisitions while keeping its focus on the development of the Shotgun Gold Project in Alaska.
“The essence of our business model is to have industry leaders like Ganfeng Lithium, McEwen Mining and Lundin Group as operators on the projects that will potentially generate royalty cash flows to contribute and develop a significant long-term value for our shareholders,” Klip added.
TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska and Argentina, which includes interest in the Mariana lithium project and the Los Azules copper-gold-silver project in addition to the Batidero I and II properties.
Contact Angela at angela@proactiveinvestors.com
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