Sunday, 24 September 2017

TNR Gold Royalty Holding: McEwen To Proceed With Los Azules Permitting And Prefeasibility Study.






McEwen Mining has released a very impressive new PEA on giant Los Azules Copper project located in San Juan, Argentina. Please note all disclaimers and that all this information is from public sources released by McEwen Mining. TNR Gold holds 0.36% NSR royalty on the entire Los Azules project. Rob McEwen has done a great job and Los Azules Copper now is even larger than before:

New Resources in all categories reported by McEwen Mining:

1. Copper is up from 19B lb to 29.5B lb - plus 55%
2. Gold is up from 3.42B Moz to 5.5B Moz - plus 61%
3. Silver is up from 108.7 Moz to 191.1 Moz - plus 76%

The quality of resource has improved as well, according to McEwen Mining:

Copper before was 28% Indicated to Inferred

Copper now is 53% Indicated to Inferred.

$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 Life
415 Million lbs. Average AnnualCopper Production For The First 10 Years
$1.11/lb. Copper Average Cash Production Cost (C1) For First 10 Years


 Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this article; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.



TNR, through its lead generator business model, has been successful in generating high quality exploration projects in the Americas and Europe. With the Company’s expertise, resources and industry network, it identified the potential of the Los Azules copper project in Argentina and now holds a 0.36% NSR Royalty on the prospect.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.
TNR is a major shareholder of International Lithium Corp. (TSXV:ILC) (“ILC”), a green energy metals company that was created through the spinout of TNR’s energy metals portfolio in 2011.  ILC holds interests in lithium projects in Argentina, Ireland and Canada. TNR continues to hold approximately 15% of the outstanding shares of ILC.
TNR retains a 1.8% NSR Royalty on ILC’s Mariana lithium property in Argentina. ILC maintains a right to repurchase 1.0% of the NSR on the Mariana property. The Company would receive $900,000 on exercise of the repurchase right. The project is being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd., a leading lithium product manufacturer seeking to secure its raw materials supply. Read more

LEGAL DISCLAIMER

Please read legal disclaimer. There is no investment advice on this blog. Always consult a qualified financial adviser before any investment decisions. DYOR.



Green Energy Metals Royalty Company: TNR Gold Provides Update Of Activities.





Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties in the Articles, News Releases or on the Links embedded in this article; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.



The Northern Miner:

McEwen to proceed with Los Azules permitting and prefeasibility study

McEwen Mining's Los Azules porphyry copper project in San Juan, Argentina near the Chilean border. Credit: McEwen Mining.


POSTED BY: TRISH SAYWELL

"Reforms introduced by the Argentine government to encourage mining investment by eliminating taxes on exported mineral concentrates prompted McEwen Mining (TSX: MUX; NYSE: MUX) to revise a 2013 preliminary economic assessment of the Los Azules project.
The PEA includes an updated resource estimate that incorporates results from the company’s 2016-2017 drill program for the 100%-owned project in the Cordilleran region of Argentina’s San Juan province near the border with Chile.
Los Azules – described by McEwen Mining as one of the world’s largest undeveloped high-grade open-pit copper projects — contains 10.2 billion pounds of copper in the indicated resource category (962 million tonnes grading 0.48% copper, 0.06 gram gold per tonne, 0.003% molybdenum and 1.8 grams silver) and another 19.3 billion pounds of inferred copper (2.67 billion tonnes grading 0.33% copper, 0.04 gram gold, 0.003% moly and 1.6 grams silver).
The revised PEA outlines a 36-year mine life and initial capex of $2.4 billion.
Using metal prices of US$3.00 per lb. copper, US$1,300 per oz. gold and US$17 per oz. silver, payback of the initial capex would take under four years.
Starting in year five, additional capex of US$278 million will be paid from operating cash flow.
The project’s after-tax net present value at an 8% discount rate is estimated to be US$2.2 billion with an after-tax internal rate of return of 20.1%.
The PEA envisaged an initial processing rate of 80,000 tonnes per day, increasing by 50% to 120,000 tonnes per day by year five.
Average annual production in the first ten years would be 415 million pounds of copper, at average production costs of US$1.11 per lb.
For the entire life of mine, the operation will produce 338 million pounds of copper a year, at average cash costs of US$1.28 per lb. copper.
The cash costs include at-mine cash operating costs, treatment and refining charges, mine reclamation and closure costs and copper concentrate transportation.
Rob McEwen, the company’s chief owner and chairman, said in prepared remarks that the project “offers tremendous potential to generate wealth for McEwen Mining shareholders and other stakeholders.”
The study outlined an owner-operated mine and conventional concentrator (flotation circuit) producing a copper concentrate for export. The process design was modeled on the flowsheet and implementation of Glencore’s (LON: GLEN) Antapaccay copper concentrator in the Andes of Peru. The company said Antapaccay shares many characteristics with Los Azules, such as similar ore properties and process plant altitude, “making it an obvious choice upon which to model the proposed infrastructure.”
The PEA envisions two years of permitting, drilling and feasibility studies followed by a three-year project implementation phase.
Results of the PEA lifted McEwen Mining’s share price in Toronto by 4.6%, or 15¢, to $3.43. Over the last year, the company’s shares have ranged between $2.73 (August 2017) and $5.83 (February 2017)."