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TNR Gold Royalty Holding Update After News by McEwen Mining on the Los Azules Copper Project, Argentina
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2017) - TNR Gold Corp. (TSXV: T...
About this update from Tnr Gold Corp.
[{"type":"text","content":"TNR Gold Royalty Holding Update After News by McEwen Mining on the Los Azules Copper Project, ArgentinaVancouver, British Columbia--(Newsfile Corp. - October 10, 2017) - TNR Gold Corp. (TSXV: TNR) (\"TNR\" or the \"Company\") advises that McEwen Mining Inc. (\"McEwen Mining\") has issued a news release \"Copper Shines Brightly for McEwen Mining — Enhanced Economics of Los Azules\" dated September 7, 2017 in relation to the Los Azules Copper Project in San Juan Province, Argentina. TNR holds a 0.36% Net Smelter Returns Royalty (\"NSR\") on the Los Azules project.The news release issued by McEwen Mining summarizes the results of a new Preliminary Economic Assessment (PEA) on its wholly-owned Los Azules Copper Project. In its press release, McEwen Mining states, \"The 2017 PEA is a substantial revision of the previous 2013 PEA and contemplates an enhanced implementation strategy resulting in improved economics while reducing execution risk. It envisions an owner-operated mine and conventional concentrator (flotation circuit) producing a copper concentrate for export.\"Summary$2.2 Billion After-Tax NPV@8% and IRR of 20.1%3.6 Year Payback at $3.00/lb. Copper and 36 Year Mine Life415 Million lbs. Average Annual Copper Production For The First 10 Years$1.11/lb. Copper Average Cash Production Cost (C1) For First 10 Years\"Los Azules is a giant porphyry copper deposit that offers tremendous potential to generate wealth for McEwen Mining shareowners and other stakeholders,\" said Rob McEwen, Chairman and Chief Owner. \"Our next steps are to advance permitting and prefeasibility/feasibility studies to move Los Azules towards production.\"\"We would like to congratulate McEwen Mining on a significant increase in the new resource estimations for copper, gold and silver at Los Azules Copper project, important upgraded quality of these resources in all categories and reported enhanced economics overall for the project,\" commented Kirill Klip, Executive Chairman of TNR. \"The PEA provided by McEwen Mining demonstrates a robust, high margin, rapid pay-back and long-life potential economics for the project and it will affect positively the potential implied valuation of TNR Gold's royalty holding.\" The McEwen Mining news release reports that the PEA study used commodity price assumptions of $3.00/lb copper, $1,300/oz gold, and ...