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Jay's Watch List March 30th Show featured TNR Gold Corp.
Company update:
TNR Gold Corp. TSX: TNR

"TNR Gold Corp. has entered into a letter agreement with Cricket Capital Corp. on the Company's 100% owned Forgan Lake property located 125km northeast of Thunder Bay, OntarioIn addition, the Company has commenced drilling at the Mariana Lithium brine project in Argentina, and it has increased its land position in Nevada to 5,285 hectares through staking and has commenced a geophysical program on its Mud Lake project, Nye County, Nevada. The Company proposed to waive the production of a feasibility study and exercise its right to acquire 25% of the northern half of the properties for Minera Andes' Los Azules Project in Argentina.
TNR established June 8, 2010 as a date of the meeting date for shareholder approval of the previously announced spin-out of TNR's lithium and rare metals assets into its wholly-owned subsidiary, International Lithium Corp. TNR shareholders of record on the date of the spinout, planned for late June or early July, will receive one share and one fully tradable warrant of International Lithium Corp. for every 4 shares of TNR."

With a grass roots projects developing into a resource, and advancing to pre-feasibility reports and eventual production, it's a good idea to understand what's involved in a mining project.

1. The pit (ore body open pit)(see left image)Congrats, you found high grade % copper, now what?The ideal scenario involves digging a humongous hole in the ground, via a systematic earth removal process such that you create the leftover open pit as shown on the left.

2. Transport the Ore (heavy rocks)Ore, unprocessed, is worth very little. Naturally, you'd have your precious gold or copper mixed with ordinary rocks and other byproducts. The idea here is to minimize the distance you have to transport these to your processing belt or factory, so you can start crushing and filtering out the valuable bits!As you can see driving heavy duty 500 tonne trucks up these large pits can be quite costly on gas!

3. Start refining your ore Once you have the ore at your factory it's time to fire up the conveyor belt. Crushing, refining, leaching, are all typical ways to separate your high grade minerals from the low-grade rocks. Do this well enough and you should be able to retain 90%+ of your estimated resource from raw ore - that is to say you don't waste too much in the way of getting rid of minerals within the ore during the separation process! From there it goes through several steps of refinement until you reach a sellable end product for your customers - usually in forms of molly, raw mineral products, and in some cases finished pellets for melting into final products.

4. Disposal of waste and tailingsWait, you think the government and environmental agencies will let you leave a big hole with waste rocks lying around after you extract the valuable minerals? Not quite! Tailings (also known as slimes, tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction (gangue) of an ore. To properly dispose of these tailings (often still riddled with chemicals from acid leaching and chemical separation processes), significant efforts are put in to make sure environmental impacts are minimized. Some would argue, tailings and waste process facilities are the single biggest economic barriers to a mine being successful. Further, you'd want to have a site nearby (ideally downhill) where you can, for a low cost, get rid of your tailings and pile them up for isolation processing later..."

Jay's Watch List March 30th Show featured TNR Gold Corp.
Company update:
TNR Gold Corp. TSX: TNR

"TNR Gold Corp. has entered into a letter agreement with Cricket Capital Corp. on the Company's 100% owned Forgan Lake property located 125km northeast of Thunder Bay, OntarioIn addition, the Company has commenced drilling at the Mariana Lithium brine project in Argentina, and it has increased its land position in Nevada to 5,285 hectares through staking and has commenced a geophysical program on its Mud Lake project, Nye County, Nevada. The Company proposed to waive the production of a feasibility study and exercise its right to acquire 25% of the northern half of the properties for Minera Andes' Los Azules Project in Argentina.
TNR established June 8, 2010 as a date of the meeting date for shareholder approval of the previously announced spin-out of TNR's lithium and rare metals assets into its wholly-owned subsidiary, International Lithium Corp. TNR shareholders of record on the date of the spinout, planned for late June or early July, will receive one share and one fully tradable warrant of International Lithium Corp. for every 4 shares of TNR."

With a grass roots projects developing into a resource, and advancing to pre-feasibility reports and eventual production, it's a good idea to understand what's involved in a mining project.

1. The pit (ore body open pit)(see left image)Congrats, you found high grade % copper, now what?The ideal scenario involves digging a humongous hole in the ground, via a systematic earth removal process such that you create the leftover open pit as shown on the left.

2. Transport the Ore (heavy rocks)Ore, unprocessed, is worth very little. Naturally, you'd have your precious gold or copper mixed with ordinary rocks and other byproducts. The idea here is to minimize the distance you have to transport these to your processing belt or factory, so you can start crushing and filtering out the valuable bits!As you can see driving heavy duty 500 tonne trucks up these large pits can be quite costly on gas!

3. Start refining your ore Once you have the ore at your factory it's time to fire up the conveyor belt. Crushing, refining, leaching, are all typical ways to separate your high grade minerals from the low-grade rocks. Do this well enough and you should be able to retain 90%+ of your estimated resource from raw ore - that is to say you don't waste too much in the way of getting rid of minerals within the ore during the separation process! From there it goes through several steps of refinement until you reach a sellable end product for your customers - usually in forms of molly, raw mineral products, and in some cases finished pellets for melting into final products.

4. Disposal of waste and tailingsWait, you think the government and environmental agencies will let you leave a big hole with waste rocks lying around after you extract the valuable minerals? Not quite! Tailings (also known as slimes, tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction (gangue) of an ore. To properly dispose of these tailings (often still riddled with chemicals from acid leaching and chemical separation processes), significant efforts are put in to make sure environmental impacts are minimized. Some would argue, tailings and waste process facilities are the single biggest economic barriers to a mine being successful. Further, you'd want to have a site nearby (ideally downhill) where you can, for a low cost, get rid of your tailings and pile them up for isolation processing later..."

TNR Gold has provided update on Los Azules.

Xstrata decided not to back in into the project and Minera Andes received 100% of the property subject to TNR Gold back in right 25% in the Northern half of the deposit.

Maybe even there could be a speculation in Xstrata Copper statement that TNR Gold's strong legal position on its back in right and ownership of strategically positioned Escorpio IV contributed to this decision.

"Xstrata Copper statement on Los Azules

By Communiqué de presse - October 02, 09 at 19:23

Xstrata Copper announces that it has elected not to exercise its option to acquire a 51% interest in the Los Azules project in San Juan province, Argentina. Xstrata Copper recognises the potential of Los Azules, as identified by Minera Andes during its evaluation, however considers that the terms and conditions of the Option Agreement do not present a viable back-in opportunity. Xstrata Copper wishes to re-affirm its interest in developing a regional presence in San Juan, and in continuing to contribute to Argentine national development. This includes activities related to updating the feasibility studies into its major El Pachón project in San Juan, as well as its ongoing management of the world class Minera Alumbrera mine in north-west Argentina."

All agreements of Minera Andes regarding the property of TNR Gold are subject to underlining agreements between TNR Gold and Xstrata, so TNR Gold maintains its back in right into the property regardless of Xstrata's further involvement into this project.

Xstrata still has a right of first refusal in case of Los Azules being sold by Minera Andes.

Now we have a chance of a more amicable cooperation between TNR Gold and Robert McEwen with Minera Andes instead of Xstrata, who from the beginning has taken position of a "strong hand" and apparently led to decision to bring them to court to defend TNR Gold's property right.

With this development we believe that Los Azules will receive necessary attention from Major companies of the world involved in Copper and Robert McEwen will be able to manage it advance with appropriate focus and dedication.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) is pleased to provide the following update on the status of its Los Azules property located in the San Juan Province of western central Argentina.

Minera Andes Inc. ("MAI") has today announced that Xstrata PLC has not given notice of exercise of its right to back-in to its Los Azules Copper Project (the "Project") for a 51% interest prior to the expiry of the time period for giving such notice under the terms of its back-in.

In the legal proceedings, TNR is seeking rectification of the Exploration and Option Agreement to the extent that it purports to terminate Solitario's back-in rights if a feasibility study is not completed within three years of MIM exercising its option. TNR's position is that the true intent of the parties is reflected in a letter of understanding which provided that Solitario's back-in right subsists until 120 days after completion of a feasibility study. TNR is also seeking confirmation of ownership of its Escorpio IV claim, which is located adjacent to the Project; and a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement.

There can be no assurances as to the outcome of this litigation or of any related claim that TNR may have with respect to the Exploration and Option Agreement. At this time, the likelihood of the outcome is not determinable and no recoverability or liability has been recorded in connection with these legal actions.

ABOUT TNR GOLD CORP.

TNR is a diversified metals exploration company focused on identifying and exploring existing properties and new prospective projects globally. TNR has a total portfolio of 32 projects, of which 16 will be included in the proposed spin-off of International Lithium Corp.
The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the company's commitment to project generation, market diversity, and building shareholder value.

ABOUT THE LOS AZULES PROJECT

Information concerning the resources and pre-economics of the Los Azules Project can be obtained by reference to MAI's press releases dated October 2, 2009 and February 5, 2009 and to the technical report entitled "Canadian National Instrument 43-101 Technical Report in Support of the Preliminary Assessment on the Development of the Los Azules Project, San Juan Province, Argentina" dated March 19, 2009. Each of these documents is available at http://us.lrd.yahoo.com/_ylt=Aq_sP22Nsgkov2_54rj8Z1Ctcq9_;_ylu=X3oDMTE1Zmwza29tBHBvcwMxBHNlYwNuZXdzQXJ0Qm9keQRzbGsDd3d3c2VkYXJjb20-/SIG=10q41mvbm/**http%3A//www.sedar.com/.
On behalf of the board,
Gary Schellenberg, President

TORONTO, ONTARIO, Oct 02, 2009 (MARKETWIRE via COMTEX) -- MNEAF Quote Chart News PowerRating -- MINERA ANDES INC. (TSX: MAI)(OTCBB: MNEAF Quote Chart News PowerRating) (the "Corporation" or "Minera Andes") is pleased to confirm its 100% earn-in interest in the Los Azules copper project in Argentina.

As previously announced, Minera Andes exercised its 100% earn-in option with respect to the Los Azules project effective June 1, 2009. The Los Azules project was subject to a back-in right by Xstrata Copper. This right expired on October 1, 2009, without being exercised.

One thing is to find and develop a Copper deposit with NPV over 1 billion with Copper over 2.1 USD/lb and another one is to find a good lawyer, who made his name going against big corporations, and defend your rights in court. If Junior TNR Gold TNR.v one year ago decided to bully a multi billion market cap Major without any merit and hired one of the top lawyers: it will be a story for a good book - otherwise it is a story for a good legal case. It is interesting enough for our Blog to share with you in our Diary: Junior Mining Education Course. Please, do not forget that we do not give any investment advise here, do not share any tips and analyse here only publicly available information. We have to wait a little bit more on Xstrata back-in into Los Azules story and TNR Gold TNR.V case can hold the keys to majority holding in the project. At stake is 12.5% of total deposit or 25% back-in right to Northern Half of Los Azules.

"TNR retains a conditional 25% back-in option on Xstrata's portion of the Los Azules deposit that MAI optioned from Xstrata. TNR commenced action in the Supreme Court of British Columbia on June 30, 2008 and subsequently amended its action on August 8, 2008, against MIM Argentina Exploraciones S.A., a subsidiary of Xstrata PLC. TNR is seeking rectification of the Exploration and Option agreement to accord with the true intentions of the parties and to remove the 36 month time provision on TNRs back-in right. TNR is also seeking confirmation of ownership, without claim from Xstrata, of the strategically located Escorpio IV claim."

By the way Junior goes and builds its shareholder base we can assume that there will be no problem to find money to back in:

"Peeyush Varshney, Chairman and CEO of Canada Zinc Metals, commented, "This strategic investment into TNR and its proposed spinoff subsidiary, International Lithium Corp, will give our shareholders diversification into the growing opportunities that rare metal industries are offering. Furthermore, the investment gives us an interest in TNR's stake in the significant Los Azules copper project in Argentina."

"EMAIL FROM MINERA ANDES

Thank you for your enquiry to Minera Andes. Under the terms of the agreement, Xstrata would have until August 31 to deliver a decision. However, the agreement also includes an automatic 30-day extension, if Xstrata wishes to exercise the extension. Therefore Xstrata may wish to take additional time in which to consider a decision. If it decides to exercise the extension of time, the decision would be due no later than September 30.

Best,

Art Johnson Minera Andes."

Meanwhile copper is charging back close to 3.0 USD/lb and TNR Gold's litigator in case against Xstrata made his place among Leading 500 Lawyers in Canada.

"Legal action was started by the Junior against Xstrata, now we have a hint that it was a strategic decision and financing is in place for a legal fight - according to filing TNR Gold is represented by George K. Macintosh, Q.C. from Farris in Vancouver:"George Macintosh leads the litigation group in the law firm of Farris in Vancouver, British Columbia, where he has practised since his call to the Bar of British Columbia. He was appointed Queen’s Counsel in British Columbia in 1987, elected as a Fellow of the American College of Trial Lawyers in 1991 and a Fellow of the International Society of Barristers in 2001. Canadian, U.S. and U.K. publications repeatedly rank him as one of Canada’s leading commercial litigators." Such a gentleman will not play peanuts in something without merit, but we will not speculate here. Is it all too much for one Junior or somebody has carefully calculated the value of the prise?"