(NewsDirect)
TNR Gold Executive Chairman Kirill Klipjoins Natalie Stoberman to discuss the company's latest share buyback program as well as recent developments at its four major miningprojects.
Klip says the companylaunched its share buyback under the belief that current market pricesdo not reflect the true value of TNR Gold's shares. Klip adds thecompany may purchase up to a maximum of 9,548,639 common shares,representing approximately 5% of the TNR Gold’s outstanding shares.
TNR holds a 1.5% NSR Royalty on theMariana Lithium Project in Argentina, of which 0.15% NSR royalty isheld on behalf of a shareholder. Ganfeng Lithium’s subsidiary, LitioMinera Argentina, has the right to repurchase 1% of the NSR royalty onthe Mariana Project, of which 0.9% is the Company’s NSR Royaltyinterest. The Mariana Lithium Project is 100% owned by GanfengLithium.
The Mariana LithiumProject has been approved by the Argentina provincial government ofSalta for an environmental impact report, and the construction of a20,000 tons-per-annum lithium chloride plant has commenced.
TNR Gold also holds a 0.4% NSR Royalty onthe Los Azules Copper Project, of which 0.04% of the 0.4% NSR royaltyis held on behalf of a shareholder. The Los Azules Copper Project isbeing developed by McEwen Mining.
In addition, it holds a 7% net profits royalty holding on theBatidero I and II properties of the Josemaria Project that is beingdeveloped by Lundin Mining. Lundin Mining is part of the Lundin Group,a portfolio of companies producing a variety of commodities in severalcountries worldwide.
TNR provides significant exposure to goldthrough its 90% holding in the Shotgun Gold porphyry project inAlaska. The project is located in Southwestern Alaska near the DonlinGold project, which is being developed by Barrick Gold and NovagoldResources.
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