Tanzanian Royalty Announces $25 Million Bought Deal Offering
More "studies" despite the fact that there's been mining there already. Feasibility study, Magoo????????? 2+ million ounces for the taking, remember? magoo's already tacking years on to the process.
“We are not looking at a Cadillac operation - more of a Ford in fact - that will generate the returns that shareholders expect and deserve from such a robust gold mining project.”
Fahkin hilarious! Ya can't afford a caddy operation on less than 25 million. Ford? More like an AMC Pacer. Robust? More LULZ.
The Company is currently in discussions with international consulting firms with respect to a turnkey price for the construction of plant and mine-related facilities at the Buckreef Project.
This will be a fine excuse to stall forevah!!!!!!!!
some of the funds will be allocated to plant and equipment purchases for the mining of surface gravels at Buckreef and on the Company’s Kigosi and Lunguya prospects.
That's what the previous placement was supposed to support. Did he even buy the (2) 100/tonne crushers yet? If he did, what OTHER equipment? If not, where'd all that placement $$$ go?
“If these projects unfold as expected they could be major cash generators to further development work at Buckreef” he suggested.
IF!?!?!? BWAAHAHAHAHAHAHAHAHAHA COULD BE?!?!?!?!?!?! ROFLMAO!!!! Hey, Magoo, how about a small cash generator RIGHT NOW!!!!!! Like last January!!!!!!
A major priority for the Company will be the initiation of exploration work along established mineral trends within the Buckreef Project area. Of particular interest is the Buckreef Eastern Porphyry area where the potential to establish additional resources along a continuous mineralized zone that is known to extend for at least 300 metres has yet to be fully evaluated.
HEY, DOUCHEBAG!!!! How about developing and producing the zillions of ounces laying around on the ground! Another stall tactic to dangle something in the distant future. Well played, MAgoo........
All in all, a dubious press piece, little substance and more questions.
Hey Doucebag you dont think this is positve news? Sounds like they are moving forward by raising cash for production.
I'm not expecting production at Buckreef this year but rather Kigosi. With Kigosi mining license possibly September, hopefully they will be quick to report what they already pulled out of Kigosi under their sampling work. If that happens,could be a major roasting for the shorts.