Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF) CEO Travis Naugle has issued a new shareholder letter following the company’s landmark agreement with Rio Tinto America Inc that sees it become one of the first companies to test and deploy Rio’s copper heap leaching technology.
Naugle told shareholders that Lion is “very excited to be one of the first companies globally to test and possibly commercially deploy Rio Tinto's Nuton technology".
The CEO called Nuton an “industry-leading copper heap leaching technology” that has the potential to unlock significant value from both mined ore and new copper sources through reprocessing of waste.
READ: Lion Copper and Gold inks option deal with Rio Tinto to advance Lion’s copper assets in Nevada
Lion is hoping to utilize the technology at its Mason Valley asset in Nevada’s Yerington mining district, which includes the legacy Anaconda copper mine.
“Given the agreement with Rio Tinto on our strategic assets in Mason Valley, we believe that Lion CG represents one of the best ways for investors to participate in the future of copper, energy innovation in a circular economy, and the emergence of an important new copper district,” Naugle wrote.
“Combined with Rio Tinto's leading (environmental, social and governance) approaches, there is a strong alignment in advancing the MacArthur Project and in bringing Rio Tinto's Nuton technology to our properties. We are excited about what the next stages will mean for the company.”
Naugle’s shareholder letter also provided a more in-depth overview of development at the MacArthur project, exploration activity in Nevada and Lion’s work in securing water rights in Nevada.
The full letter can be found here.
Contact Angela at angela@proactiveinvestors.com
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