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TNR Gold Update: Investment Loan Repaid, Ganfeng's Mariana Lithium Project Begins Operational Phase
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - TNR Gold Corp. (TSXV: TNR)...
About this update from Tnr Gold Corp.
[{"type":"text","content":"TNR Gold Update: Investment Loan Repaid, Ganfeng's Mariana Lithium Project Begins Operational PhaseVancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - TNR Gold Corp. (TSXV: TNR) (\"TNR\", \"TNR Gold\" or the \"Company\") is pleased to announce that the Company has repaid in full the existing long-term investment loan in the principal amount of CAN$6,943,237 and all accrued interest in the amount of CAN$696,226. Further details of the loan are disclosed in the Company's news release dated December 16, 2021.\"I am pleased that the TNR Gold team has achieved this very important major milestone for our Company and provided another validation of our business model while demonstrating the success of our long-term strategic initiatives,\" commented Kirill Klip, Executive Chairman of TNR. \"This long-term investment loan allowed TNR Gold to build a strong portfolio of global assets. The loan has been repaid in full after the Company monetized only a small part of its royalty holdings. We have generated significant capital, extinguished debt and fortified our balance sheet, with TNR now in a strong financial position. These significant transactions are the result of successful execution of TNR Gold's long-term business strategy by our management team and reflect all recent positive developments in our portfolio of assets.\"We are concentrating 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. The proceeds from our partial sale of the NSR royalty on Ganfeng's Mariana Lithium Project clearly demonstrates this. Strong industry interest in our assets has been generated, and the Company is working on potential new strategic partnerships to increase the market valuations of our royalty holdings.\"Our Net Profits Royalty (\"NPR\") holding on the Batidero I and II properties of the Josemaria Copper-Gold project that is being developed by Lundin Mining represents future growth potential for our royalty portfolio. We are also investigating other potential acquisitions while our main focus remains on the development of th...