TNR Gold welcomes further investment in McEwen Copper's Los Azules project by Rio Tinto's Nuton
London
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October 23, 2023 01:08 PM Eastern Daylight Time
TNR Gold Corp CEO Kirill Klip joined Proactive's Stephen Gunnion with details of a significant new financing that McEwen Copper received for the Los Azules copper, gold, and silver project in San Juan, Argentina.
Nuton LLC - a Rio Tinto Venture and an existing shareholder - will invest $10 million to acquire additional shares of McEwen Copper, with proceeds from the to be allocated to advancing Los Azules, one of the top 10 largest undeveloped copper deposits in the world according to Mining Intelligence.
The investment follows an additional investment from global automaker Stellantis.
Klip said the new round of funding for Los Azules follows a positive updated mineral resource for the project, which confirmed the huge potential for the project.
Following an unsolicited bid for TNR Gold from Lithium Royalty Corp, he also discussed the current "M&A season" for royalty companies due to very attractive valuations.
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