TNR Gold Corp has announced that McEwen Copper Inc. applied for the Los Azules copper project to enter Argentina’s Large Investment Incentive Regime, with an estimated USD 2.7 billion investment. This initiative aims to attract investment through tax reductions, enhancing financial viability in Argentina’s mining sector. TNR Gold holds a 0.4% NSR Royalty on the project, with a current market cap of approximately C$12.35 million.
TNR Gold Corp recently announced that McEwen Copper Inc., a subsidiary of McEwen Mining, has submitted an application for the Los Azules copper project to gain entry into Argentina’s Large Investment Incentive Regime (RIGI). This initiative, involving an investment of approximately USD 2.7 billion, is designed to leverage tax reductions and additional incentives to bolster the project’s financial appeal to potential investors.
Such a development underscores Argentina’s increasing willingness to attract substantial infrastructure investments, which could significantly benefit the mining sector and deliver attractive returns for investors and stakeholders involved.
TNR Gold Corp specializes in the mining sector, focusing primarily on net smelter return royalties. The company maintains a 0.4% NSR royalty on the Los Azules project, which encompasses copper, gold, and silver mining activities located in San Juan, Argentina.
Year to date, the company’s stock performance shows an increase of 30.0%, with an average trading volume of 269,214 shares. Despite this growth, the technical sentiment consensus rating stands at a ‘Strong Sell,’ reflecting market caution. As of now, TNR Gold Corp holds a market capitalization of approximately C$12.35 million.
In summary, TNR Gold Corp’s strategic move to align with McEwen Copper Inc. for the Los Azules project highlights the company’s commitment to enhancing the economic viability of mining operations in Argentina. The potential tax incentives under the RIGI represent a significant opportunity, positioning the project favorably within the landscape of large-scale mining investments. As the situation evolves, investors may find renewed interest in TNR Gold’s prospects amidst the country’s expanding infrastructure initiatives.
Original Source: www.tipranks.com
