TNR Gold Corp continuing to court interest after "lowball" offer withdrawn
November 02, 2023 at 11:44 am EDT
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TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) Executive Chairman Kirill Klip speaks to Thomas Warner from Proactive London following the withdrawal of what he terms a "lowball" offer for the company from Lithium Royalty Corp.
Klip elaborates on the rejected offer, deeming it inadequate at 8¢ per share, especially considering a previous transaction in which Lithium Royalty Corp paid $9 million for a 0.5% NSR royalty in Mariana Lithium. Klip asserts the matter with Lithium Royalty Corp is closed, but TNR Gold's Special Committee continues to explore higher valuation transactions, potentially spinning out Alaskan assets.
TNR Gold holds a 90% interest in the Shotgun Gold Project in Alaska, with substantial gold resources and plans for a strategic partnership or joint venture that could lead to a public spin-off in a new entity, AmeriGold. Moreover, Klip touches on the excitement in the sector spurred by M&A activities, citing interests in the Los Azules and Mariana Lithium royalties. High valuations are anticipated based on recent transactions and investments from major players like Rio Tinto.
Klip also emphasises the significance of Mariana Lithium's progress towards production, a pivotal move for TNR Gold as it will catalyze future cash flows and generate a revenue stream starting in 2024, crucial for the company's growth and attractiveness to investors.
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Proactive Investors USA
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TNR Gold Corp. is a Canada-based green energy metals royalty and gold company. The Company is engaged in the business of acquiring and owning royalties. It is also engaged in the business of acquiring and exploring its mineral properties located in the United States. Its projects include the Shotgun Gold Project, the Los Azules Copper-Gold Project, and Mariana Lithium Project. The Shotgun Gold Project is an advanced-stage exploration prospect in southwestern Alaska. The Shotgun Gold Project is located in southwestern Alaska approximately 150 kilometers (km) north of Dillingham and 190 km south of the Donlin Gold Project. The Los Azules Copper-Gold Project is located in San Juan, Argentina. The Mariana Lithium Project is located in Argentina. At its core, it provides a scope of exposure to gold, copper, silver and lithium through its holdings in Alaska and royalty holdings in Argentina. Its subsidiaries include 0828073 BC Ltd., Ameri Gold Corp., Bristol Exploration Co. Inc., and others.