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TNR Gold shares details behind latest share buy back program

TNR Gold Executive Chairman Kirill Klip joins Natalie Stoberman to discuss the company's latest share buy back program as well as recent developments at its four major mining 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 5% of the TNR Gold’s outstanding shares.

TNR holds a 1.5% 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% 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% 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% NSR Royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder. The Los Azules Copper Project is being developed by McEwen Mining.

In addition, it holds a 7% 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% 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.

Contact Details

Proactive Investors USA

+1 347-449-0879

na-editorial@proactiveinvestors.com

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