TNR Gold's royalty value rises as McEwen Copper secures $240 million in financing to advance the Los Azules copper project toward a 2027 final investment decision.
McEwen Mining is the parent company of McEwen Copper, the operator of the Los Azules project. The successful closing of a $240 million loan is a critical milestone for McEwen Mining, as it provides the necessary capital to advance engineering and early works at one of its primary growth assets.
The proceeds will be used to advance engineering and early works at Los Azules, as well as for general corporate purposes.
TNR Gold Corp benefits as McEwen Copper closes a $240 million loan to accelerate development at the Los Azules project in Argentina. As the holder of a 0.4% net smelter returns royalty, TNR Gold gains exposure to project advancements without incurring capital expenditures.
The loan accelerates development at the Los Azules project, increasing the potential value of TNR Gold's 0.4% NSR royalty without requiring the company to contribute any capital.