TNR Gold's Los Azules Project: A Long-Life, Low-Cost Copper Producer with Strong Project Economics

TNR Gold Corp announced a positive Feasibility Study for the Los Azules copper project in Argentina, confirming it as a long-life, low-cost producer of high-purity copper cathodes. The study estimates an after-tax net present value of US$2.9 billion, with an internal rate of return of 19.8% and a payback period of 3.9 years. TNR holds a 0.4% net smelter returns royalty on the project.

TNR Gold Corp. (OTC: TRRXF) has announced a positive Feasibility Study (FS) for its Los Azules copper project in Argentina, confirming the project's status as a long-life, low-cost producer of high-purity copper cathodes. The study, conducted by McEwen Inc., highlights the project's strong economic and environmental, social, and governance (ESG) features.

Key metrics from the FS include an after-tax net present value (NPV) of $2.9 billion at an 8% discount rate, an internal rate of return (IRR) of 19.8%, and a payback period of 3.9 years. The project is expected to require an initial capital investment of $3.17 billion, with a life of mine (LOM) of 21 years. Average annual production is projected to be 204,800 tonnes in the first five years, declining to an average of 148,200 tonnes per year over the LOM. The all-in sustaining cost (AISC) is estimated at $2.11 per pound, with a copper price of $1.71 per pound.

The Los Azules project aims to achieve 100% renewable power usage and reduce carbon intensity by 72%. The project also targets no tailings dam usage and regulatory approvals with incentives from Argentina's Large Investment Incentive Regime (RIGI). TNR Gold holds a 0.4% net smelter returns (NSR) royalty on the project.

McEwen Inc. is confident that the FS confirms the project's technical and economic viability. The company is now positioned to advance the project towards construction readiness and contribute to the global energy transition by supplying responsibly produced copper.