TNR Gold Corp (TNR) Financings
TSXV: TNR · Gold, Lithium, Copper · Royalty/Streaming stage
- Market cap$73.2M
- Share price$0.300
- 52-week range$0.090 – $0.365
- Shares outstanding244,081,780
- ExchangeTSXV
- Websitetnrgoldcorp.com
TNR Gold Corp. is working to become the green energy metals royalty and gold company. Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle. Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders. Over the past thirty years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the Company's expertise, resources and industry network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina, among many others, have been recognized. TNR holds a 1.5% NSR royalty on the Mariana Lithium Project in Argentina, of which 0.15% of such NSR royalty is held on behalf of a shareholder of the Company. Ganfeng Lithium's subsidiary, Litio Minera Argentina (' LMA '), has the right to repurchase 1% of the NSR royalty on the Mariana Project, of which 0.9% is the Company's NSR royalty interest. The Company would receive CAN$900,000, and its shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45% NSR royalty and its shareholder holding a 05% NSR royalty. The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng Lithium officially inaugurated Mariana Lithium's start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025. TNR Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 04% of the 0.4% NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being developed by McEwen Inc. TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint venture between Lundin Mining and BHP. TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Novagold Resources. The Company's strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties. At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.
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TNR Gold Corp financial statements
Key figures read from 39 of 39 financial statement filings, Nov 28, 2016 to Aug 31, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$21,328 | C$12,201 | C$581,689 | C$233,439 | C$1,091 |
| Short-term investments | C$95 | C$106 | C$217 | C$1,612 | C$5,978 |
| Total current assets | C$110,248* | C$73,134* | C$608,357* | — | — |
| Total current liabilities | C$72,340 | C$154,003 | C$35,302 | C$7,379,407 | C$7,168,460 |
| Working capital | C$37,908 | (C$80,869) | C$573,055 | — | — |
| Total assets | C$112,819 | C$74,513 | C$642,194 | C$274,011 | C$24,521 |
| Debt | — | — | C$0 | C$7,167,541 | C$6,852,829 |
| Shareholders' equity | C$40,479 | (C$79,490) | C$606,892 | (C$7,105,396) | (C$7,143,939) |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| General and administrative | C$410,934 | C$410,982 | C$444,237 | C$277,292 | C$263,917 |
| Share-based compensation | C$262,848 | C$79,237 | C$107,506 | C$153,014 | C$302,913 |
| Impairments and write-downs | — | C$0 | C$12,533 | — | — |
| Net income (loss) | (C$11) | C$11 | C$9,869,158 | C$1,804,717 | C$12,887 |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$1,104,827) | (C$819,198) | (C$1,546,699) | (C$872,529) | (C$696,072) |
| Investing cash flow | (C$3,546) | C$0 | C$9,849,662 | C$915,670 | C$0 |
| Financing cash flow | C$1,117,500 | C$249,710 | (C$7,954,713) | C$189,207 | C$652,439 |
| Proceeds from share issues | — | — | C$0 | (C$14,293) | (C$12,061) |
| Change in cash | C$9,127 | (C$569,488) | C$348,250 | C$232,348 | C$43,633 |
| Cash at end of period | C$21,328 | C$12,201 | C$581,689 | C$233,439 | — |
TNR Gold Corp financings
5 financings announced or closed by TNR Gold Corp, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-05-19 | TNR Gold Corp (TNR) | Debt | Announced | $389.5M | — | TNR Gold NSR Royalty Update - McEwen Copper Appoints Societe Generale as Financial Advisor for Project Debt Financing of Los Azules Project |
| 2026-04-06 | TNR Gold Corp (TNR) | Private placement | Closed, 1 tranche | $4.2M | $0.177 | TNR Gold Welcomes CAN$4.2 Million Strategic Investment by Altius Minerals |
| 2024-08-12 | TNR Gold Corp (TNR) | Private placement, non-brokered | Closed, 1 tranche | $309K | $0.060 | TNR Gold Announces $300,000 Non-Brokered Private Placement |
| 2024-06-27 | TNR Gold Corp (TNR) | Private placement, non-brokered | Closed, 1 tranche | US$70.0M | $30.00 | TNR Gold NSR Royalty Update - Los Azules Copper, Gold and Silver Project – McEwen Copper Announces $70 Million Financing |
| 2023-10-18 | TNR Gold Corp (TNR) | Private placement | Announced | US$10.0M | — | TNR Gold NSR Royalty Update - Los Azules Copper, Gold and Silver Project – McEwen Copper Announces $10 Million Additional Investment by Nuton, a Rio Tinto Venture |
TNR Gold Corp debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments TNR Gold Corp has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2023-02-21 | Loan, repaid / settled | — | C$6.94M | — |
| 2021-12-16 | Loan, signed | — | C$6.9M | matures 2023-07-31 |