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Bullboard - Stock Discussion Forum Western Copper and Gold Corp T.WRN

Alternate Symbol(s):  WRN

Western Copper and Gold Corporation is a Canada-based mining company. The Company is engaged in developing the Casino Project. The Casino Project is a copper-gold mining project in Yukon, Canada. The Casino porphyry copper-gold-molybdenum deposit is located in west central Yukon, in the northwest trending Dawson Range mountains, approximately 300 kilometers (km) northwest of the territorial... see more

TSX:WRN - Post Discussion

Western Copper and Gold Corp > Only IF an auto manufacturer jumped on board
View:
Post by EvenSteven27 on Oct 12, 2023 2:50am

Only IF an auto manufacturer jumped on board

Stellantis, one of the world’s leading automakers and mobility providers, announced an investment of approximately $134 million (42 billion Argentine pesos) in McEwen Copper, a subsidiary of McEwen Mining (TSX:MUX, NYSE:MUX). Earlier this year, Stellantis invested approximately $116 million in McEwen Copper. When the second purchase closes, Stellantis will hold a 19.4% interest in McEwen Copper.
 
At the same time, McEwen announced an investment of $10 million from Nuton LLC, a subsidiary of Rio Tinto (ASX:RIO; NYSE:RTP; LSE:RIO). Proceeds of the subscription will be split between McEwen Copper ($4 million) and McEwen Mining ($6 million). After closing, Nuton will own 14.5% of McEwen Copper.
 
McEwen is issuing 1.9 million common shares of McEwen Copper to Stellantis, 152,615 common shares of McEwen Copper to Nuton, and a further 232,000 common shares of McEwen Mining to Nuton. McEwen Mining will continue to control 47.7% of McEwen Copper. These placements value McEwen Copper at about $1.09 billion (US$ 800 million).
 
McEwen Copper holds a 100% interest in the Los Azules copper project in San Juan, Argentina, and the Elder Creek gold project in Nevada.
 
 
Los Azules is one of the top 10 largest undeveloped copper deposits in the world. Its current copper resources are estimated at 10.9 billion lb. in material grading 0.40% copper (indicated category) and an additional 26.7 billion lb. in material grading 0.31% copper (inferred category). The preliminary economic assessment published in June 2023 estimated a $2.7 billion after-tax net present value (8% discount) at US$3.75/lb. copper and a 27-year mine life.
Comment by jclarke042 on Oct 12, 2023 6:43am
McEwen Mining: down nearly 70% on the 5 year. We don't need an auto maker. We need Paul to realize our time is up. I'm sorry, but nothing will help us short of Ottawa announcing a fast tracked permit specifically for Casino, and a grant for power portion of the build.
Comment by Asdfghjk on Oct 12, 2023 9:51am
Odds are EXTREMELY LOW the Green Goof Government here doing anything quickly, if at all despite the need for copper. Look at the debacle they turned the Transmountain Pipeline expansion. Not so sure we want or need them involved. It CAN get worse with them involved. Competitive tension or low ball buy out. At this point I feel for you guys waiting for 16 years of hearing the same old jargon over ...more  
Comment by Pinegrove1 on Oct 12, 2023 7:54am
Compare it to WRN. Resource, location, NPV, Indigenous, Government, grade. 
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