Press Release: Tanzanian Royalty – 2 hours 4 minutes ago
SOUTH SURREY, British Columbia--(BUSINESS WIRE)-- Tanzanian Royalty wishes to report that it has received impressive assay results from the ongoing diamond and reverse circulation (RC) drilling programs on the Eastern Porphyry Prospect at its Buckreef Gold Project in the Lake Victoria goldfields of Tanzania. The drilling programs commenced in September 2011.
According to Joseph K. Kahama, Chairman and Chief Operating Officer, “The drill program has served to verify the significance of the results obtained by previous operators including IAMGOLD which were not in the public domain but were discovered during our Buckreef data review process.”
“The latest drill results not only support and enhance the earlier drill programs, they confirm the existence of a fifth gold zone at Buckreef along with the potential to enhance our production expectations for this development stage gold project.”
Highlights from the recent drill program are included in the following table:
WOW...On the message board it says "42 replies" however when I click on the thread there are only 14 replies excluding this one...There must be a bunch of replies by those I've put on my ignore list!
I don't know enough about STAMICO and if they even have a track record worth bragging about. I wonder why all the teabaggin free marketeer get guv outta biz, don't bail out anyone, all of a sudden think having a guv subsidiary as a major stakeholder is such a great idea. More often than not, they tend to clog the gears (as if TRX had any that worked) and take more than they contribute. Kinda hard to fire the guv.If anything, it gives Magoo another excuse for delays and then say in the same breath how awesome they are because they'll get things expedited.
but bully, lets not forget Stamico and the tanz gov't, those are the unknowns, this takedown just smells, in a long term chart in the future this will not even appear,someone just loaded a bundle of shares all planned.
Jazz, I'm not making this up or "speculating" It's in black and white. He broke his promise to keep shares at or under 100 million.....FAIL. He has REPEATEDLY blathered about the homestake model to avoid debt. Now it's about debt. What's hilarious is they think that paltry amount in the bank account is going to impress anyone in the debt markets.
Pretty much reamed out the equity market, now the shareholders will get DP'd with debt.
Tanzanian Royalty is well financed and has approximately $30 million in cash. This will allow for the completion of a full feasibility study, leaving excess capital available for the time the Company begins debt financing negotiations with international lenders for mine development.