(NewsDirect)
TNR Gold Executive Chairman Kirill Klipjoins Thomas Warner from Proactive London to discuss the impact of anew preliminary economic assessment (PEA) for the Los Azules CopperProject. The project is being developed in Argentina by McEwen Copper,which is majority-owned by McEwen Mining Inc (TSX:MUX, NYSE:MUX), andhas garnered major investment from industry heavyweights like RioTinto and Stellantis.
Kliphighlights the increase in the mineral resource estimate at theproject, with total copper increasing by a substantial 27.6%, withsignificant boosts in both indicated and inferred resources. Thisunderscores the magnitude of the project, with estimated copperproduction of 182,000 tonnes over the first five years of operationsand 145,000 tonnes over the following 27 years. He suggests that thecompetitive production cost of $1.07/lb and a short payback period of3.2 years make it an attractive prospect even in challenging economicconditions.
For shareholders of TNR Gold Corp, this new PEAbrings the potential valuation of the company's royalty holding toover $30 million. In response to the belief that the market shareprices don't reflect the true value of their assets, TNR Gold Corphas launched a share buyback scheme to optimise shareholderreturns.
Contact Details
Proactive InvestorsUSA
+1 347-449-0879
na-editorial@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.