two other sites within the mining license area in the Buckreef property-- Tembo and Bingwa -- are now the focus for development in the reasonably near future.
At our first Buckreef operation, the Company is deploying "heap leaching" -- an older, slower, 'low-tech' methodology. It is nevertheless expected to result in net extraction costs about 50% of the higher-tech alternatives; and, therefore, fully competitive in today's challenging mining environment.
Adds CEO Jim Sinclair: "The significance of this transition for our Company cannot, and must not, be under-appreciated. Of course, we know there have been delays and setbacks along the road. But we are in the depths of a bear-market in the gold sector which is not merely secular, but actually historic. Even executives of my generation cannot easily recall a time when the prices bid on mining shares -- relative to the proven and assayed value of gold in the ground -- have been this low."
"Similarly, as the world stumbles toward 'Peak Gold,' the ratio of investment return for each single exploration dollar spent has never been this low, either."
"The bull market in bullion which began in 2000, and rocketed for eleven years thereafter, appears to have hit an air-pocket. A very strange air pocket, I think, and one which has bizarrely priced an ounce of gold below even the extraction cost of many senior players."
"Free-market theory -- what they taught you in 'Economics 101' -- says this simply cannot happen. Yet here we are ...? History teaches us that these strange market dislocations are often temporary. It is my belief that not only will Tanzanian Royalty's cost of operations be strongly competitive at current pricing in the global gold space; but, as the yellow metal ultimately returns to prominence, we will have the potential to become recognized as a major participant."
The qualified person for Tanzanian Royalty Exploration Corporation is Mr. Peter Zizhou, Acting General Manager
Toronto, Ontario - (Marketwired - April 16, 2015,) - Tanzanian Royalty Exploration Corporation (NYSE MKT:TRX) is pleased to offer the following update on its showcase Buckreef project in the United Republic of Tanzania:
Explains President and CEO James Sinclair, "On April 16, 2015, we initiated the process of production at our initial target on the Buckreef prospect. I cannot over-state the importance of this. The transition from just an exploration firm also to a producing enterprise is one of those rare events in our industry of late. From this day forward we are progressing to a production operation; as well as, of course, an exploration one."
"Nor will we be content to rest on our laurels. In the days, weeks, and months ahead, we anticipate exploration and development of at least four upcoming projects at this same site before ultimately turning our focus to the much larger Buckreef Main Zone. Careful forward management of cash flow -- from one site serially to another -- should leave the Company fiscally fit for its development, at that future stage."
In addition to initiation of pad irrigation, Tanzanian Royalty is also providing the following additional updates on the Company's recent progress:
the runway at Buckreef was recently extended by 1,000 feet to accommodate twin turbine fixed-wing aircraft, instead of the more conventional single-helicopter pad. This represents both a decrease in operating costs as well as an increase in transport efficiency.
finalization of the contract with the Company's air agent, for transportation of product from the Buckreef mine directly to Dar es Salaam, at which point it boards a Swiss air flight for its final leg to our designated refinery in Zurich, Switzerland. The 'Gold doré' is fully insured from takeoff to landing. Once in Switzerland, the contract with our refiner requires analysis to be completed within 72 hours, and full payment to be made via bank wire by the sixth day.
Y'all got face slapped. Relbo got some 'splainin' to do.........................BWAAHAHAHAAAA!!!! See, the entertainment works from the long and the short.
Bull...that was funny!
Friday, March 13, 2015 at 12:40 pm
We all know that the current, LBMA system is broken, arcane and in need of modernization. Into this void steps a company called Bullion Capital with a new, wholesale metals exchange designed to rival and, ultimately, circumvent the LBMA. In this interview, the CEO of Bullion Capital, Tom Coughlin, addresses how this new exchange will operate and why it has the potential to be such a game-changer.
After years of development, this new wholesale exchange will finally be ready for rollout in April. In his first public interview, Tom Coughlin addresses many of the questions surrounding this project and sheds light upon how the exchange will function and what makes it such a threat to the Bullion Bank status quo. Among the topics covered:
How will this exchange differ from the existing LBMA structure?
The ability of the exchange to provide a disruptive technology that allows users to entirely circumvent the LBMA.
In stark contrast to the LBMA, the anonymity that this new exchange gives market participants, thereby eliminating the possibility of bullion bank front-running of orders.
The global network of vaulting and settlement facilities, in place from day one, which allow the exchange to function on a 100%, fully allocated framework.
It was a great pleasure to visit with Tom and a real honor that he would utilize TFMR to begin spreading the word about this new exchange. Once the exchange goes "live" next month, I hope to have Tom back on for an update and status report. Until then, please give this interview a thorough listen and recognize that great strides are being made in our fight against the existing, highly-leveraged and unallocated system of price discovery.
Thanks for the time stamp. The pack behind the trading desk, should be going over tomorrow and next weeks game plan...the pictures must be fake...not enough time left and Sinclair will have to issue hundreds of millions of shares.
Fed speak next Tuesday and Wednesday...while we wait with baited breath, will interest rate “patient” language be removed? OMG!!
Wondering What the Fed’s Statements Mean? Be Patient MARCH 12, 2015
For the finale, we have options Friday 20th - designated day to screw the most folks at one time. Selling should climax on Thursday 19th and we finish the month with..
March 26 Comex April gold options expiry
March 27 Comex April miNY gold futures last trading day
March 31 Comex April E-micro gold futures first notice day
March 31 Comex April gold futures first notice day
Sinclair's slow methodical approach to production has been quite the trip.
They are quite the bunch. Payrolls, Fed speak, triple witching, etc. Banksters are doing everything they can to get as many miners in trouble as possible. They wait for capitulation and take things over, thanks to the fractional reserve ponzi. It's a sorry bunch.
They hate JS and mineset. To speculate as Robo player does all day & night, he has probably been assigned TRX duty, until this final low in gold unfolds. Sinclair said a decade ago, most shareholders wouldn't make it.
Its a shame Glass Steagall removal, didn't give them enough. Like all bankers throughout history, there are tall buildings, suicide and the occasional nail gun. Armstrong did say bankers, lawyers, medical have all topped.
relbo wins the "Bogus info award of the day"!
March 11, 2015 The Wealth Watchman
Another One Bites the Dust
Have you ever had pesky, unwanted cash, ya know… just lying around? Sure, we all have! All that dirty, old currency just sitting there, desperately needing to be disposed of. Cuz’ spending cash, after all, is always the thing that everyone just has way too much of, right?
The Latest Casualty of Price Suppression
Speaking of which, let me introduce you to the newest casualty of the price-rigging scheme, this time in the mining sector.
In an article that I wrote in early November 2014, I said this, concerning Allied Nevada Gold:
“Allied Nevada Gold Corp.(symbol ANV):
Current share price: $1.39.
Top closing share price in 2011: $43.71
Total loss from the top: 96.8%
Think about it….who funds these mines in the first place?
That’s right, the big banks. They’re the ones who are owed senior bond payments(if the mine survives), and who end up owning the entirety of the company’s assets, if they finally succumb to the market rigging.
Either way, the banks win, and you(the shareholder) lose. Just take a look at the statement from Allied Nevada on their Bankruptcy Reorganization Summary, explaining why they filed for Chapter 11:
Does anyone have knowledge of a Gold Corp 5 hares of ANV for 1 GG offer that was being discussed here several months ago. Management didn't want to give up controlling interest, so they declined it, if memory serves.
Zero Hedge...For more than a decade, John Ramsay kept his mouth shut about how rigged the US equity market was.
Zogenix, Inc. (ZGNX) After Hours Trading
$1.46 -0.21 -12.57%
After Hours Volume: 2,742,032
After Hours High:
$ 2.20 (16:35:04 PM)
After Hours Low:
$ 1.44 (18:11:51 PM)
Mar 10, 2015
I’m hard pressed to remember a time where the morale of the Western gold community was much lower than it is now.
Regardless, some very good technical and fundamental news for gold enthusiasts has suddenly appeared.
To view some of the good news, please...That’s the weekly chart for gold. When the Stochastics oscillator (14,3,3 series) moves below the 20 line, substantial rallies in the gold price tend to follow.
Rallies of $100 - $200 are quite normal in these types of technical situations, and there’s more good news. That’s the seasonal chart for gold, courtesy of Dimitri Speck.
From a cyclical perspective, gold tends to sell-off quite violently until mid-March. Then it typically bases, and rallies strongly.
The main reason it does that, is because of the Indian wedding season. That begins in mid-March, and continues until June.
As the season comes to a close, buying dries up in late May, and the gold price becomes soft again, before staging a much bigger rally. That larger rally occurs as preparations for the huge nation-wide Diwali festival begin.
Wedding season begins this week. There are more than 10 million weddings a year in India, and gold is the main gift given to the bride!
There is absolutely nothing unusual about gold’s price action in advance of the current wedding season, and I doubt there will be anything unusual about the rally that occurs, as the season gets underway!
There’s another bullish, but much more ominous gold price driver that could soon come in to play. To view it
The same thing happens to bankers, they haven't figured it out yet.
Don't know yet, I like new lows in the resource sector. ANV was a bummer. It's a shame the economy has to crater over a strong $, but enjoy it while you can.