--News Direct--
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 8ยข 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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View source version on newsdirect.com: https://newsdirect.com/news/tnr-gold-corp-continuing-to-court-interest-after-lowball-offer-withdrawn-802525175
