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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 capital of Whitehorse. The Casino project is located on Crown land administered by the Yukon Government and is within the Selkirk First Nation traditional territory and the Tr’ondek Hwechin traditional territory lies to the north. The Casino Property lies within the Whitehorse Mining District and consists of approximately 1,136 full and partial Quartz Claims and 55 Placer Claims acquired in accordance with the Yukon Quartz Mining Act. The total area covered by Casino Quartz Claims is approximately 21,126.02 hectares (ha). The total area covered by Casino Placer Claims is 490.34 ha.


TSX:WRN - Post by User

Post by smilingmickeyon Mar 24, 2023 11:26pm
426 Views
Post# 35359970

Mitsubishi Materials has form

Mitsubishi Materials has formI have owned Copper Mountain in the recent past and as a result have some knowledge of Mitsubishi's activities there. They have been purchasing  the output of Copper Mountain's operation (copper concentrate) since around 2010 under a long term supply agreement, having invested in the operation, owning 25% of the business.
It is interesting that Mitsubishi will be participants in Western Copper's activities related to ESG matters. Maybe they think they have the edge over Rio whose recent record is not so good in this area!. The folks in Yukon seem to be wary of mining investment and are in my view, the reason  why the project has yet to be built. Now, there seems to be an impetus from Canadian politicians to want control of Canadian mining assets, which is not in accord with total or even majority control from RTZ (who are HQ'd in Australia.) So why not a non controlling stock holding of WRN from Mitsubishi, accompanied by a long term supply arrangement, as part of a Canadian operated  mine?
Mitsubishi  has cash to invest, and securing supply of additional quantities of Canadian copper might not be too bad a place for its investment.
We shall soon see if Rio buys the stock to which they are entitled, to maintain their share of WRN. They may sell out their shares to Mitsubishi as time goes by, pocket some cash for their efforts and gracefully retire!!
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