Royalty Holder……..............TNR Gold
Revenue……………..…..…………........n.a.
Mine Life...……………..…35 years plus
Commodity………………............Copper
Operator…….............McEwen Mining

#12 Los Azules

Vancouver-based TNR Gold has a gold project in Alaska and a dwindling market cap of C$4m ($3m). It's saving grace perhaps is a 0.4 per cent royalty it holds over the Los Azules copper project in Argentina, owned by McEwen Mining.

Los Azules is not in production, but McEwen plans to build an open-pit operation, mining 20 billion lbs of copper at grades of 0.5 to 0.6 per cent. After litigation between TNR and McEwen Mining in 2015, the royalty is highest on the northern portion of the deposit, which hosts the bulk of the project's resource.

After hitting the buffers financially, TNR gave a 10 per cent interest in the royalty to “a private backer” last year, in exchange for a $3.5m loan. TNR also has a 2 per cent royalty over the Mariana lithium project in Argentina, owned by International Lithium Corp, another small hopeful listed on Canada's junior market.

 

 

BACK                                             NEXT >