Gold In The USA, Alaskan Elephant Country: Kirill Klip GEM Royalty TNR Gold Presentation

1. Gold
Gold In The USA: Solid Values In Uncertain Times
Kirill Klip GEM Royalty TNR Gold
July 2022
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2. Legal Disclaimer
All information about TNR Gold, NOVAGOLD and Barrick
Gold is presented using publicly available data.
Kirill Klip GEM Royalty TNR Gold
July 2022
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3. Legal Disclaimer for the U.S.
Please read legal disclaimers. There is no investment advice in this
presentation. Always consult your qualified financial adviser before
investment decisions.
Kirill Klip GEM Royalty TNR Gold
July 2022
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4. Gold - The Big Picture
Gold has reached a new all-time high in 2020.
Kirill Klip GEM Royalty TNR Gold
July 2022
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5. Gold Quarterly ATH
Northstar: “Gold Highest Ever Quarterly Close”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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6. The Green Energy Metals
Royalty & Gold Company.
TNR Gold Corp.
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July 2022
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7. TNR Gold Corp.
Northstar: TNR Gold Corp.
Kirill Klip GEM Royalty TNR Gold
July 2022
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8. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Location Of Major Intrusion Related Gold
Deposits”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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9. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Location Of Major Intrusion Related Gold
Deposits”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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10. Gold New All-time High 2020
Gold has reached a new all-time high in 2020.
Kirill Klip GEM Royalty TNR Gold
July 2022
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11. Gold After New Highs
Crescat Capital: “Gold Cup and Handle”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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12. Gold Massive Cup & Handle
Crescat Capital: “Massive Cup & Handle”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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13. Record Global Debt
Global debt surpassed record $305T and is much higher
than before The Great Recession of 2008.
Kirill Klip GEM Royalty TNR Gold
July 2022
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14. Record Global Debt
Global debt surpassed record $305T and is much higher
than before The Great Recession of 2008.
Kirill Klip GEM Royalty TNR Gold
July 2022
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15. Gold vs. Global Bonds
Crescat Capital: “Gold vs. Global Bonds”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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16. Record National Debt
US Gross National Debt $30.5T & is much higher than
before The Great Recession of 2008.
Kirill Klip GEM Royalty TNR Gold
July 2022
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17. Worse Than A War
Global debt is skyrocketing.
Kirill Klip GEM Royalty TNR Gold
July 2022
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18. Gold & Government Debt
Crescat Capital: “Gold to Government Debt Ratio”.
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July 2022
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19. Gold & Government Debt
Crescat Capital: “Debt, Valuations & Inflation”.
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July 2022
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20. Debt Projections
CBO: Debt projection to equal 195% of GDP
in the U.S. in 2050.
Kirill Klip GEM Royalty TNR Gold
July 2022
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21. US Fiscal Deficit
Crescat Capital: “Change in US Fiscal Deficit as a Result
of Recession”.
Kirill Klip GEM Royalty TNR Gold
July 2022
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22. FED Balance Sheet & Funds Rate
Record FED Balance Sheet.
Kirill Klip GEM Royalty TNR Gold
July 2022
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23. FED Balance Sheet
FED has expanded balance sheet to
$8.962T fighting the pandemic.
Kirill Klip GEM Royalty TNR Gold
July 2022
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24. ECB Balance Sheet
Holger Zschaepitz: ECB has expanded balance sheet to
Euro 8.836T fighting the pandemic.
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July 2022
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25. Central Banks Balance Sheets
All Central Banks have expanded balance sheets
fighting the pandemic. (Chart by Holger Zschaepitz)
Kirill Klip GEM Royalty TNR Gold
July 2022
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26. Global Central Banks vs. Gold
Crescat Capital: “Global Central Bank Assets vs. Gold”.
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July 2022
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27. U.S. Dollar
Purchasing power of the consumer U.S. Dollar.
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July 2022
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28. Gold & Inflation
Crescat Capital: “US 30-Year Yield”.
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July 2022
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29. Sticker Shock
The Economist: “Sticker Shock”.
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July 2022
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30. US Inflation Hits 40-Year High
US Inflation hits 40-year high of 8.6%.
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July 2022
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31. Gold Adjusted For Inflation
Crescat Capital: “Gold Price Adjusted For Inflation”.
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July 2022
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32. China: US Treasury Holdings
Crescat Capital: “China - US Treasury Holdings”.
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July 2022
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33. U.S. Dollar In Reserves
U.S. Dollar’s share of official global reserves declines
further.
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July 2022
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34. Central Banks Gold Holdings
US Funds: “Central Banks Ranked by Largest Gold
Holdings”.
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35. Central Bank Gold Demand
Gold purchases by Central Banks.
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July 2022
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36. Central Bank Gold Demand
Gold purchases by Central Banks.
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July 2022
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37. Global Gold Demand
Fortune: “Global Gold demand is on the rise”.
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July 2022
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38. Gold & Inflation
Incrementum: “Gold Nominal & Gold Inflation
Adjusted”.
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July 2022
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39. Gold & US Dollar
US Funds: “Gold Price Has Been Highly Resilient Against
an Elevated Dollar”.
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July 2022
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40. Gold & S&P 500
US Funds: “Gold Has Beaten the Market So Far this
Century”.
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July 2022
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41. Gold & S&P 500
Crescat Capital: “Gold-to-S&P 500 Ratio”.
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42. Gold vs. S&P 500
The price of Gold has crushed the market performance so far in
the 21st century.
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July 2022
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43. Golden Revival
Patrick Karim: “Gold vs US Equities”.
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July 2022
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44. Gold Price 1971 - 2021
Gold price per ounce: Aug. 1971 to Dec. 2020 - UP 46X.
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45. Gold – Big Picture View
Northstar: “Gold - Big Picture View”.
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46. Gold Monthly Chart
Northstar: Gold – Monthly Chart.
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47. Gold Monthly Chart
Northstar: “Gold in World Currency Units Breakout”.
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48. Gold Monthly Chart
Northstar: “Gold - The Journey Continues”.
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49. Gold Monthly Chart
Northstar: “Arc Exit Handle?”
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50. Gold Roadmap
Northstar: “Gold Roadmap”.
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51. Gold Roadmap
Northstar: “Gold Roadmap”.
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52. Gold Roadmap
Northstar: “Gold Roadmap”.
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53. Gold Roadmap
Northstar: “Gold Roadmap”.
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54. Gold Roadmap
Northstar: “Gold Priced in World Currency Units”.
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55. Gold Roadmap
Northstar: “Gold Roadmap”.
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56. Gold Roadmap
Northstar: “Gold Roadmap”.
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57. Gold Roadmap
Northstar: “Gold Roadmap”.
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58. Gold & M2 Growth
Incrementum: “Historically, M2 Growth Was Only Faster
in the 40s & 70s!”
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59. Gold Roadmap
Northstar: “US M2 Money Supply to Gold Ratio”.
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60. Gold Roadmap
Northstar: “Gold in Euro Roadmap”.
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61. Gold Roadmap
Northstar: “8-Year Cycle”.
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62. Gold Roadmap
Northstar: “No sell signal yet”.
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63. Golden Revival
Patrick Karim: “Golden Revival”.
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64. Golden Revival
Patrick Karim: “Gold’s 4th Historical Melt Up”.
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65. Golden Revival
Patrick Karim: “Gold’s 4th Historical Melt Up”.
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66. Gold & FED Rate
Incrementum: “Gold and FED Rate”.
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67. Gold Price Projection
Incrementum: “Intermediate Status of the Gold Price
Projection”.
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68. Modeled Gold Price
Chris Rutherglen: Modeled Gold price by scaling to the
increase in the U.S. Money Supply.
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July 2022
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69. Modeled Gold Price
Chris Rutherglen: “Modeled Gold price scaled to the
increase with US M2 money supply”.
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70. Modeled Gold Price
Chris Rutherglen: “Possible Path to $3,000 Gold".
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71. Modeled Gold Price
Chris Rutherglen: “Possible Path to $7,000 to $8,000”.
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72. Modeled Gold Price
Chris Rutherglen: “Gold, FED Funds Rate & 2yr Yield”.
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73. Gold Trend
US Funds: “$7,000 Gold by 2025 If Trends Stay Friendly
Like in 2001 - 2011”.
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74. Gold Price Model
Lighthouse: Gold price model $10,050.
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75. How High Can Gold Go?
US Funds: “Could we see $25,000 Gold by 2049?”
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76. Share Of Gold In Portfolios
Investors increasing allocations to Gold will be driving
demand side for this Bull Market.
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July 2022
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77. Precious Metals In ETF
Bloomberg: ”Precious metals As Percentage of Total ETF
Assets”.
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July 2022
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78. Gold ETF Flows
Incrementum: “Monthly Gold ETF Flows”.
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July 2022
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79. Gold – The Ultimate Hedge
US Funds: ”Cryptocurrencies Have Lost More Than $2T in
Market Value Since November”.
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July 2022
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80. Gold – The Ultimate Hedge
US Funds: “Gold Has Been One of the Few Bright spots in
2022”.
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81. There is No Gold 2.0
Cambridge Bitcoin Electricity Consumption Estimate.
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82. “Fighting The FED” With Tether
CryptoWhale: “Tether Printing Unbacked USDT to
Artificially Pump Bitcoin”.
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83. “Fighting The FED” With Tether
CryptoWhale: “Bitcoin When Tether Goes Bust”.
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84. Gold – The New Catalyst
CryptoWhale: “Ultra-Rare McDonalds Pattern
Formation”.
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July 2022
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85. Gold – The New Catalyst
There is NO Gold 2.0 – There are over 5,000 years of
humankind history with Gold. (Chart by CryptoWhale)
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July 2022
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86. Bitcoin “Peak To Peak Cycle”
Northstar: “A monthly close below 12-months moving average
with cycle lows ahead is not a market I want to be in”.
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87. Gold - The Ultimate Hedge
“Luna” Coin – Round Trip “To The Moon” And Back.
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July 2022
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88. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto.
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89. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto. (Chart by Holger Zschaepitz)
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90. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto.
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July 2022
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91. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto.
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July 2022
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92. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto.
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93. Gold - The Ultimate Hedge
Bloomberg: “Gold Outshines Bitcoin”.
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94. Gold - The Ultimate Hedge
Bloomberg: “Gold Outshines Bitcoin”.
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95. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto.
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96. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto. (Chart by Holger Zschaepitz)
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97. Gold - The Ultimate Hedge
Gold becomes the ultimate hedge for all portfolios with
equities, bonds and crypto. (Chart by Holger Zschaepitz)
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98. “The Great Rotation”
Crescat Capital: “Commodities to Equities Ratio”.
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99. Commodities To Equity Ratio
Crescat Capital: “Commodities to Equity Ratio”.
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100. S&P GSCI Commodity Index
Incrementum: “S&P GSCI Total Return Index to S&P 500
Ratio”.
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101. The Great Rebalancing
Crescat Capital: “Natural Resource Industries vs. Global
Equity Markets”.
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102. Gold & Stagflation
Incrementum: “Gold, Silver and Mining Stocks Have
Historically Outperformed in a Stagflation”.
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103. Stocks vs. Gold Miners
Crescat Capital: “S&P 500 to Gold Miners Ratio”.
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104. The Switch
Crescat Capital: “Old vs. New FANG Stocks”.
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105. Gold & Silver Miners
Crescat Capital: “Gold & Silver Miners. Median FCF
Yield With Enterprise Value”.
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106. Gold Miners
Incrementum: “HUI/Gold Ratio”.
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107. Miners-to-Gold Ratio
Crescat Capital: “Miners-to-Gold Ratio”.
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108. Gold vs. Junior Miners
Crescat Capital: “Gold vs. Junior Miners”.
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109. Gold & Silver Miners
Crescat Capital: “Gold & Silver Miners – Senior vs.
Juniors”.
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110. Gold & Silver Miners
Crescat Capital: “Gold & Silver Miners”.
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111. Gold Junior Miners
Incrementum: “GDX/GDXJ Ratio”.
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112. Small Cap Miners
Crescat Capital: “Small Cap Miners vs. Gold”.
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113. Gold Mining Stocks
The oldest Gold mining stocks index by Barron's shows
the extreme historical undervaluation.
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114. Gold Mining Stocks
Incrementum: Miners Are Starting to Outperform Gold
But Are Still Historically Cheap .
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115. GDX Gold Mines Index
Northstar: “GDX Gold Miners Index”.
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116. HUI Gold Mines Index
Northstar: “HUI Gold Miners Index”.
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117. Gold & Silver Miners
Northstar: “Ditch General Equities, Buy Gold & Silver
Miners – The Evidence Case”.
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118. Global X Gold Explorers ETF
Patrick Karim: “Global X Gold Explorers ETF”.
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119. HUI Gold Mines Index
Northstar: “HUI Gold Miners Index”.
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120. Junior Gold Miners
Northstar: “Junior Gold Miners GDXJ ARC”.
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121. Peak Gold
Frank Holmes: “Output from the world’s Gold mines
topped out in 2020 before declining”.
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122. Peak Gold Production In China
Incrementum: “Gold Production Peaked In China In
2016”.
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123. Gold Supply Cliff
Crescat Capital: “Gold Supply Cliff”.
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124. Industry-wide Decline
NOVAGOLD: “Decline in Reserves, Discoveries, Grade,
and Sharp Underinvestment Impedes Output Growth”.
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125. Gold Discoveries
Only several new discoveries over recent years.
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126. Gold Discoveries
Crescat Capital: “Gold Discoveries”.
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127. Gold & Silver Miners M&A Cycle
Crescat Capital: “Gold & Silver Miners M&A Cycle”.
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128. Gold Enterprise Valuation Curves
Ronald Stewart: Enterprise Valuation per Au oz of
resource.
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129. Where Do You Look For Elephants?
TNR Gold Shotgun Gold project is located in the
Alaskan “Elephant Country”.
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130. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Location Of Major Granite Related Gold
Deposits”.
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131. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Tintina Gold Belt Examples”.
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132. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Tintina Gold Belt”.
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133. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Geology and Vein Deposits of SW
Alaska”.
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134. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Depth-fluids model for IRGS”.
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135. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: “Geological Exploration Model”.
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136. TNR Gold Corp.
Shotgun Gold Project, Alaska.
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137. The Shotgun Gold Project
Shotgun Gold is located in Donlin Gold Mining District,
South-West Alaska.
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138. The Shotgun Gold Project
Shotgun Gold is located in Donlin Gold Mining District,
South-West Alaska.
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139. The Shotgun Gold Project
TNR Gold strategy with Shotgun Gold.
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140. Gold In The USA
Donlin Gold: strong support for responsible mining and
development in Alaska.
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141. Alaska A World-Class Jurisdiction
Donlin Gold: “Leverage In A Place Where You Can
Keep The Rewards”.
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142. Decline In Gold Discoveries
Gold mine supply is set to decline after years of
increases.
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143. Gold Elephant In Alaska
Donlin Gold: “Time-Tested Partnership with Barrick
Gold”.
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144. Donlin Gold Activities
Donlin Gold: “A True 50:50 Partnership with Barrick
Gold”.
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145. Gold Elephant In Alaska
NOVAGOLD: “Barrick CEO Mark Bristow on unlocking
the tremendous potential of Donlin Gold”.
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146. Gold Elephant In Alaska
NOVAGOLD: “Strong partnership alignment”.
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147. Alaska’s Donlin Gold
Donlin Gold: “A substantial gold project in a safe
jurisdiction”.
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148. Donlin Gold Infrastructure
Barrick Gold and NOVAGOLD are developing
Donlin Gold and opening new Mining District in the U.S.
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149. Donlin Gold Federal Permit
Donlin Gold: “Key Project Milestone Achieved”.
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150. Donlin Gold Permitting
Donlin Gold: “Permitting Update”.
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151. Donlin Gold Activities
Donlin Gold: “Board Approves Additional 2021 Funding
In Preparation for New Feasibility Study”.
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152. Donlin Gold Activities
Donlin Gold: “Barrick and NOVAGOLD Optimizing Mine
Design at Donlin Gold”.
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153. Gold Elephant In Alaska
Donlin Gold: “Decades of government engagement”.
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154. Donlin Gold Activities
Donlin Gold: “Alaska Native Corporation partnerships
elevate the project”.
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155. Donlin Gold Activities
Donlin Gold: “2021 Sustainability Performance”.
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156. Gold Elephant In The USA
Donlin Gold: “Largest Gold development project in its
Category”. Development of a major Gold mining camp.
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157. Gold Elephant In Alaska
Donlin Gold: “Double the global average Gold grade”.
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158. New Gold Camp In The USA
Donlin Gold: “Positioned to become a million-ounce
gold producer”.
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159. Gold Elephant In Alaska
Donlin Gold: “Significant value upside with higher Gold
prices”.
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160. The Shotgun Gold Project
Exploration history of Shotgun Gold project in Alaska.
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161. Regional Geologic Environment
Region is truly unique “Elephant Country” for large scale
gold deposits.
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162. Shotgun Gold Geology
Predominantly underlain by Cretaceous sediments of
the Kuskokwin Group.
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163. Shotgun Gold Mineralization
Shotgun Gold: the same age rocks and geological
signature appear to resemble Donlin Gold mineralization.
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164. Shotgun Ridge
Shotgun Ridge - mineralized intervals.
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165. Shotgun Ridge Drilling
Shotgun Ridge - drill holes plan view.
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166. Shotgun Ridge
Shotgun Ridge - resource model cross-section A-A’
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167. The Shotgun Project
The Shotgun Project - mineral resource.
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168. Understanding Potential Targets
Shotgun Ridge alone shows potential to host multiple
closely spaced gold deposits.
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169. Typical Porphyry System
Magnetic image shows “ring structure” typical of
porphyry systems.
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170. Area Of Defined Resource
Multiple areas with similar structural and magnetic
character are untested by drilling.
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171. Chargeability Model
Only one chargeability target is tested by drilling and it
is mineralized.
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172. Shotgun Ridge Geophysics
The Shotgun Gold project – geophysics cross section.
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173. Shotgun Ridge Geophysics
Mineralization plotted down hole over 3D chargeability
model.
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174. Shotgun Ridge Potential
Shotgun Ridge has untested structural intersections that
may host significant Gold deposits.
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175. The Shotgun Gold Opportunity
Shotgun Ridge is just one of multiple gold target areas.
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176. Shotgun Ridge
Shotgun Ridge - inferred resource estimate.
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177. Strategic Partner - Gold In The USA
TNR Gold is looking for strategic partner to unlock the
potential of Shotgun Gold development.
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178. TNR Gold Corp. Shotgun Gold
Dr Tim Baker: Location of major intrusion related Gold
systems in Sn-W provinces.
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179. GEM Royalty Portfolio
• 0.36% NSR Royalty on the entire Los Azules, Argentina
– one of the largest Copper projects under McEwen
Mining management.
• 1.8% NSR Royalty on the Mariana Lithium, Argentina
– lithium brine project under Ganfeng Lithium
management.
• 90% Shotgun Gold project, Alaska. Gold in the USA
Elephant Country - Donlin Gold mining district being
developed by Barrick Gold and NOVAGOLD.
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180. GEM Royalty Co.
TNR Gold Corp.
• Becoming The Green Energy Metals Royalty Co.
• Assets with major companies as Operators.
• Green Energy Metals: Copper, Silver and Lithium.
• TNR holds NSR Royalty on Los Azules Copper.
• TNR holds NSR Royalty on Mariana Lithium.
• TNR Holds NPI Royalty on Batidero Josemaria.
• TNR holds 90% stake in Shotgun Gold, Alaska.
• TNR Gold presentations on www.tnrgoldcorp.com
• All information is available on www.sedar.com
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181. Thank you!
Energy rEVolution & Gold.
The World Just Before The INTERNET.
Contact k.klip@btinternet.com
Visit www.kirillklip.blogspot.com
Follow on Twitter @kirillklip
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