Business
TNR Gold Arranges Investment Loan, Provides Updates on Royalty Holdings on Ganfeng's Mariana Lithium and McEwen's Los Azules Copper, Gold and Silver Projects
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - TNR Gold Corp. (TSXV: T...
About this update from Tnr Gold Corp.
[{"type":"text","content":"TNR Gold Arranges Investment Loan, Provides Updates on Royalty Holdings on Ganfeng's Mariana Lithium and McEwen's Los Azules Copper, Gold and Silver ProjectsVancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - TNR Gold Corp. (TSXV: TNR) (\"TNR\", \"TNR Gold\" or the \"Company\") is pleased to announce that it has arranged with its lender a new long-term investment loan in the amount of CAN $6.9 million maturing on July 31, 2023. The loan was granted under the previously established long-term investment loan facility. Other terms and conditions of the investment loan facility (as previously announced on January 15, 2019, January 5, 2016 and May 31, 2012) have not changed. The Company will repay in full the existing long-term investment loan, including all accrued interest, on the maturity date of January 31, 2022. \"I am very pleased that the TNR Gold team finds the full support of our major shareholders as well as the Company's investment loan capital provider who continues to approve our business plan and long-term strategic initiatives,\" commented Kirill Klip, Executive Chairman of TNR. \"It is clear that this decision of our investment loan capital provider is a resounding show of confidence in TNR Gold's long-term business strategy, our management team and all recent positive developments in our 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. We believe that our royalty holdings are undervalued, and their appropriate values are not reflected in 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. \"Our Net Profits Royalty (\"NPR\") holding on the Batidero I and II properties with Josemaria Resources represents future growth potential for our royalty portfolio. We are also investigating new potential acquisitions while our main focus remains 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 o...