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Tanzanian Royalty Exploration Corp. Message Board

  • gargantum933 gargantum933 Mar 2, 2013 6:56 PM Flag

    AGM Worst Ever

    The AGM was pathetic. What happened to Buckreef and its production target date of late 2014? We have a meaningless Preliminary Economic Assessment for Buckreef which is just a lot of arm waving. The real costs will come at full feasibility which they probably won't even start this year. Count on production costs to be 50-100% higher than the PEA and development costs too. Then they need to raise non-dilutive production financing which of course is no problem for the great financier, Jim Sinclair. (He was a little short of specifics on this subject at the AGM). Then they have to get a development team together, order equipment, and build a mine. In addition, the Duval law suit should hit the court system this year and be very public. Oh, let’s not forget Kigosi which according to the presentation at the AGM the company only owns 60% of. Do we deduct the 15% interest TRX gave to Stamico off this? How about royalty interests payable to the government right off the top? The cash flow from this pig will be negative and will never help fund anything let alone Buckreef. This thing is a sad joke and Sinclair’s shareholders will end up drinking the cool aid just like Jimmy Jones’ followers.

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