TNR Gold: Los Azules feasibility study validates copper upside – ICYMI

Core Insights - TNR Gold Corp's Los Azules copper project has been confirmed as a low-cost, long-life, and high-purity copper cathode producer following a feasibility study by McEwen Copper [1][3][4] Project Overview - Initial production is projected at over 200,000 tonnes annually in the first five years, followed by an average of 148,000 tonnes per year over a 21-year mine life [1][4] - The cash cost is estimated at $1.71 per pound, with an all-in sustaining cost of $2.11 per pound, based on a copper price of $4.25 per pound [4] Mineral Resources - Proven and probable reserves are estimated at 10.2 billion pounds of copper, with measured and indicated resources at 5.4 billion pounds, and an additional 20 billion pounds in the third category [6] Environmental Considerations - The project is designed for low environmental impact, using approximately 70% less water than typical copper projects and utilizing renewable energy for copper production [7] Financing and Partnerships - The project has been accepted into Argentina's large investment incentive program, which offers significant tax reductions and smoother transition of goods [9] - YPF, a major Argentine power producer, is investing over $400 million to build a renewable energy line for the project, which is not included in the mine construction budget [10] - Commitments of up to $1.1 billion from economic export agencies in Europe and equipment suppliers could cover up to 80% of mechanical costs [10] Valuation and Market Activity - The potential valuation of TNR Gold's royalty at Los Azules is estimated at $30 million, with recent increases in target price from $0.28 to $0.50 by Fundamental Research Corporation [12][13] - Potential royalty revenue could reach up to $10 million, with estimated cash flow valuations exceeding $30 million from the project [14]