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Tanzanian Royalty Exploration Corp. Message Board

  • chartfaker chartfaker Mar 6, 2013 11:45 PM Flag

    Alchemy Financial report correct?

    This is on a site called Alchemy Financial
    "TRX
    I was debating whether I should put up Tanzanian Royalty, but a lot of people follow them so I guess I have to. But be sure to read the disclosures at the bottom. The short version is I work for TRX doing investor relations.
    Jim Sinclair is certainly not remaining idle with this company now. After acquiring the Buckreef project they now have a 43-101 proving 2.2 million ozs on that property alone with the hopes to expand that to 3-5 million in a couple of years. Production is expected to be 100-150k ozs a year within 2-2 1/2 years. Their Kigosi project is just "money in the bank" as Jim puts it as they expect the property to provide cash flow on it's easily produced surface rubble. From a technical aspect it has bounced very well. Today it sits above the 200 day MA. If it is able to maintain these levels a shot at 5 would be obvious."
    ===========================
    "proving" is an interesting word to describe resources. Is the 43-101 from August 2012 the latest? It says 1.74moz 1.74moz MEASURED & INDICATED and 0.98moz INFERRED. Are there any proven reserves?

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    • there are no proven reserves according to 43-101.
      the company has never claimed such.
      the alchemy financial report is not claiming it either.

      prove (prv)
      v. proved, proved or prov·en (prvn), prov·ing, proves
      v.tr.
      1. To establish the truth or validity of by presentation of argument or evidence.
      2. Law To establish the authenticity of (a will).
      3. To determine the quality of by testing; try out.
      4. Mathematics
      a. To demonstrate the validity of (a hypothesis or proposition).
      b. To verify (the result of a calculation).
      5. Printing To make a sample impression of (type).
      6. Archaic To find out or learn (something) through experience.

    • '...Are there any proven reserves? '

      As Ludwig would say, 'probably, none'.

      Sentiment: Strong Sell

 
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