Seeking Alpha

Sufiy's  Instablog

Send Message
Sufiy is a Seeking Alpha contributor.
My blog:
  • PI Financial Corp. Engaged As Financial Advisor For Sale Of TNR Gold's Back-in Right To The Los Azules Copper Project, Argentina TNR.v, MUX 0 comments

    TNR Gold Corp. Completes Resource Estimate at Shotgun Gold Project, Alaska TNR.v

    TNR Gold insiders continue to accumulate:



    As of 11:59pm ET May 7th, 2013
    Insider NameOwnership
    SecuritiesNature of transaction# or value acquired or disposed ofPrice
    Apr 24/13Apr 19/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market250,000$0.070
    Apr 17/13Apr 16/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market33,000$0.070
    Apr 17/13Apr 15/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market50,000$0.070
    Apr 17/13Apr 12/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market28,000$0.070
    Apr 12/13Apr 11/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market31,000$0.070
    Apr 12/13Apr 10/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market15,000$0.070
    Apr 5/13Apr 4/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market60,000$0.070
    Apr 5/13Apr 3/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market33,000$0.070
    Mar 22/13Mar 21/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market192,000$0.070
    Mar 22/13Mar 20/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market23,000$0.070

    TNR Gold Corp. Advises of McEwen Mining's Drill Results at the Los Azules Copper Project TNR.v, MUX

    "Los Azules Copper project is growing larger with every reported drill hole, new metallurgy tests and expanded copper resources will provide the basis for the new PEA of the project later this year. TNR Gold is talking now about the part of the newly found to the West of the previously known deposit by McEwen Mining - "Potential New Copper Trend" going on the Northern Part of the deposit, which is subject to TNR Gold's Back-in Right. Deeper Copper mineralisation is apparently found as well on TNR Gold's Back-In Right properties."

    PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold's Back-in Right to the Los Azules Copper Project, Argentina

    Vancouver B.C., May 08, 2013: TNR Gold Corp. (the "Company" or "TNR") Is pleased to announce that it has retained the services of PI Financial Corp. to provide financial advice regarding the sale of its back-in right to the northern portion of the Los Azules copper project in Argentina. TNR has a back-in right (TNR press release February 5, 2013) allowing it to acquire a 25% interest in certain mineral concessions at Los Azules that includes the northern portion of the deposit (the "Northern Portion").

    Los Azules is an advanced stage copper porphyry project owned and operated by McEwen Mining Inc. (TSX:MUX; NYSE:MUX) ("McEwen Mining" or "McEwen"), who describe the project in news releases as "one the world's largest, highest copper grade, undeveloped porphyry deposits not controlled by a major base metal mining company." The Company advises that McEwen has published news releases and reports, which are filed on SEDAR at, that describe a resource both on and adjacent to the area subject to TNR's back-in right. The total published resource, for which TNR's back-in right includes an undetermined portion, consists of an indicated resource of 310 million tonnes grading 0.65% Cu and an inferred resource of 1,302 million tones grading 0.49% Cu (using a 0.35% Cu cut off grade).

    "I welcome the opportunity to monetize our back-in right. We have an asset portfolio that will greatly benefit from the sale of the Los Azules asset. For example, the development of our Shotgun project which our team is ready to further develop and explore the gold resources upon," states Mr. Kirill Klip, Non-Executive Chairman of TNR. "It was for the potential of the Los Azules project and TNR's ability to identify top quality projects at an early stage of development, that I became involved in the company."

    TNR has no ownership of the Los Azules Project prior to exercise of the back-in Right and as such presents information about the project as that of independently published information regarding the entire property. TNR encourages its shareholders to read news releases and reports issued by McEwen Mining to gain a better understanding of the Los Azules Project. McEwen Mining's news releases and reports appear to have been prepared by qualified persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no qualified person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining's information to determine the current mineral reserve or resource or other information referred to in the news releases and reports. Accordingly, the reader is cautioned in placing any reliance on the disclosure herein.

    The Company is also pleased to announce that as part of the settlement terms with McEwen Mining, (TNR press release February 5, 2013) the transfer of the Escorpio IV mineral rights to McEwen Mining Inc. is now complete and TNR has received the certificates representing 1 million shares of McEwen Mining Inc. (information about McEwen Mining can be found at and on Sedar at The shares are subject to the minimum statutory hold period.


    The Company has a 25% back-in right in the Northern Portion of the Los Azules property which is exercisable following the completion of a feasibility study. If the Company elects to back-in for 5% or less or has its interest diluted to 5% or less, TNR will receive a net smelter royalty of 0.6% from the Northern Portion.

    The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen Mining Inc. is the current operator on the Los Azules copper deposit and the Company advises that on March 13 and March 28, 2013, McEwen Mining Inc. issued press releases in relation to the deposit, which areaccessible on Sedar at and on McEwen Mining Inc's website at

    The press release issued by McEwen Mining Inc. dated March 28, 2013 includes preliminary results from drilling operations on the Los Azules copper deposit for the current exploration season. McEwen Mining Inc's press release appears to be prepared by qualified persons, but no independent qualified person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining Inc's information to determine the accuracy of the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the subject results and estimates.

    McEwen Mining is completing a drilling program to further expand the resource to the west and to depth. McEwen Mining has also stated that an updated preliminary economic assessment ("PEA") will be completed later this year that will utilize the expanded resource (expected by the end May 2013) and will incorporate results of recent metallurgical work focused on floatation optimization and copper leaching (see MUX press release of March 13, 2013).


    Established in 1982, PI Financial, is a leading, full-service, independent investment dealer, providing a full range of investment products and services to corporate and institutional investors. PI has been advising and servicing the capital needs of the global mining industry for over 30 years with its very specialized and focused group of professionals.


    Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

    TNR Gold recently reported an inferred mineral resource at the Shotgun Gold project in Alaska containing 20,734,313 tonnes at 1.06 grams per tonne ("g/t") gold for a total of 705,960 ounces gold ("Au") using a 0.5 g/t Au cut-off.

    TNR is also a major shareholder of International Lithium Corp. (TSX:ILC.V) ("ILC"), a company created by TNR to advance its internationally acquired lithium prospects. TNR currently holds about 25.5% of the outstanding shares of ILC.

    At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is commited to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

    John Harrop, PGeo, FGS, is a "Qualified Person" as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

    For further details please see our website at

    On behalf of the board,

    Gary Schellenberg,


    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Q&A. Statements in this Q&A other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Q&A may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

    *Source Geoscience Reporting Guidelines, National Library of Canada Cataloguing in Publication Data Grant, Brian PGeo, 2003"

    Please Note our New Legal Disclaimer on the Blog, including, but Not limited to:

    There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

    We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

    Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.

Back To Sufiy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.