TNR Gold Executive Chairman Kirill Klip joins Natalie Stoberman to discuss the latest share buy back program as well as recent developments at its four major drilling projects.
Klip says the company launched its share buyback under the belief that current market prices do not reflect the true value of TNR Gold's shares. Klip adds the company may purchase up to a maximum of 9,548,639 common shares, representing approximately five percent of the TNR Gold’s outstanding shares.
TNR holds a 1.5 percent NSR Royalty on the Mariana Lithium Project in Argentina, of which 0.15% NSR royalty is held on behalf of a shareholder. Ganfeng Lithium’s subsidiary, Litio Minera Argentina, has the right to repurchase 1.0 percent of the NSR royalty on the Mariana Project, of which 0.9% is the Company’s NSR Royalty interest.
The Mariana Lithium Project is 100 percent owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report, and the construction of a 20,000 tons-per-annum lithium chloride plant has commenced.
TNR Gold also holds a 0.4 percent NSR Royalty on the Los Azules Copper Project, of which 0.04 percent of the 0.4 percent NSR royalty is held on behalf of a shareholder. The Los Azules Copper Project is being developed by McEwen Mining.
TNR also holds a seven percent net profits royalty holding on the Batidero I and II properties of the Josemaria Project that is being developed by Lundin Mining. Lundin Mining is part of the Lundin Group, a portfolio of companies producing a variety of commodities in several countries worldwide.
TNR provides significant exposure to gold through its 90 percent holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources.
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