RE: RE: RE: McEwen considers selling the Los Azule Mouserman
Thanks for the alert.
Mouserman
Thanks for the alert.
From article, one analyst's opinion of Los Azules value
"Los Azules is worth about $535 million, based partly on the deposit’s 15 billion pounds of copper resources, and will cost almost five times that to develop, said Aleksandra Bukacheva, a Toronto-based analyst at Fraser Mackenzie Ltd."
Analyst above 'rounds-off' quantity of copper resource to 15 billion pounds and says nothing of gold and silver resources. It appears that analyst is using a value of $.0357 per pound for in situ copper – Said value is somewhat consistent with current market values – Note that analyst places no value on gold and silver deposits. Using his value for copper, (an excluding gold and silver resources) 15.4 billion pounds of copper would have a value of $550,000,000+/-. If the project sold for that amount, IMO TNR would have a right to receive 15% of that total, (minus development costs). 15% of $550,000,000 = $82,500,000 – AND THIS IS PROBABLY WHY TNR SHARES ARE BEING ATTACKED.
Scroll down to 'Los Azules Resource Map', on website, link below, and you will see outline of copper deposits.
https://www.mcewenmining.com/Operations/Los-Azules-Exploration/default.aspx
"Los Azules is a 100% owned advanced-stage porphyry copper exploration project located in the cordilleran region of San Juan Province, Argentina near the border with Chile. It is one of the world's largest undeveloped copper deposits with a mineral resource of 10.8 billion pounds of copper (inferred) and 4.6 billion pounds of copper (indicated). Gold resources are 710,000 ounces indicated, and 1.79 million ounces inferred. Silver resources are 19 million ounces indicated, and 56 million ounces inferred.
https://www.mcewenmining.com/Operations/Los-Azules-Exploration/default.aspx
"As noted in our November 7th news release, drilling began at Los Azules on October 12th. Los Azules is one of the world''s largest and highest grade undeveloped copper porphyry deposits. A total of seven drills are operating at the property. The drills are considerably more powerful than the ones used during past field seasons. The Company believes this will increase the likelihood of reaching target depths (+700 meters), where high-grade copper mineralization has been discovered. Initial drill assay results are expected to be released early in 2013. The Company plans to drill approximately 15,000 meters this season."
https://finance.yahoo.com/news/mcewen-mining-inc-los-azules-183727253.html