Spin it ..while the shisters are working on $Gold, Yahoo wouldn't let today's news be posted about TRX being Granted an Environmental Impact Assessment Certificate for the Itetemia Project.
it appears to me possible that certain deep-pocketed entities are seeking to depress share prices so they can inexpensively acquire assets which will, ultimately, provide a huge payback when the industry turns around."
"There is also, I think, something seriously amiss in our sector. While the major wire services report that demand for gold coins and bars is soaring against the backdrop of the unfolding Greek tragedy, paper gold futures prices in the Precious Metals exchanges continue to fall."
"The present outstanding shares of the Company is 107,411,006 common shares. Fully diluted the number is 110,455,056 common shares, which in this industry in quite conservative."
James E. Sinclair,
Chief Executive Officer
TORONTO, ONTARIO--(Marketwired - July 6, 2015) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") is pleased to announce that it has fully paid off and retired the financing relating to the recently announced terms of its convertible senior note with an institutional lender, the first drawdown under which had successfully closed on December 29, 2014. No further payments are due.
Under the original financing terms, notes in the principal amount of US$10,000,000 were issued at an 8% discount, yielding an initial funding amount of US$9,200,000. The initial (closing) drawdown was US$1,766,558, and the balance of the funded amount (less expenses of issue) was placed in escrow to be available for future drawdowns, subject to the Company meeting certain financial ratios. The notes were to bear interest at 8% per annum, payable monthly.
Explains C.E.O Jim Sinclair:
"As of July 6th, 2015, the Company in pleased to announce full repayment against the notes. The total current debt has now been reduced to zero. Recall that the original purpose of the financing was to bridge us to 'first pour' on our very first producing mine. The first of several, I might expect, since we already have additional mining licenses in place on two other sites, as well as additional prospects in advanced stages of discovery, and pending applications for mining licenses for those as well."
"I am positively delighted now, because, in my view, the retirement of this loan resulted in a more modest dilution in total shareholder equity than originally anticipated."
"We are grateful that our lenders were there for us when we needed them. I truly believe our company, now in production, could potentially negotiate unrestricted gold-based loans for expansion purposes at more competitive rates."
"As our sector struggles with a wave of negative investor sentiment to a degree barely seen once a century, it appears to me possible that certain deep-pocketed entities are seek.
Tanzanian Royalty Volume Surge Chart
Morris Hubbartt Super Force Precious Metals Video Analysis
posted Jul 3, 2015
Key Gold & Silver stocks volume surge video analysis...
TRX has been being accumalated since late May with a changing of the guard.
posted July 3, 2015 at TRX website
Officials from the gold squad in the Ministry of Mines and the Customs Depart paid us a visit this afternoon and officially sealed (yellow strips in the pictures) strategic equipment as previously reported in one of my emails. We can only now access these sealed points in their presence and any breakage to their govt seals will be considered as sabotage and a criminal act.
We are now officially a gold producer.
citi thinks they stuck the taxpayer with their derivatives...dream on.
The US military needs to step up and throw these crooks in the brig.
Submitted by Tyler Durden on 07/04/2015 14:48 -0400
One week ago, when we scoured through the latest OCC quarterly derivative report (in which we find that the top FDIC insured 4 US banks continue to account for over 90%, or $185.5 trillion of all outstanding derivatives which as of March 31 amounted to $203 trillion; nothing new here), we found something fascinating: based on the OCC's derivative update, JPM had literally cornered the commodity derivatives complex, when from "just" $226 billion in total Commodity exposure, JPM's notional soared by 1,690% in one quarter to $4 trillion, or about 96% of total.
Some, without even bothering to read the article, did what they always do when reacting to Zero Hedge articles: accused it of writing a "wrong" post first and asking questions later and coming up with someutterly incorrect response to show just how wrong Zero Hedge was because, guess what, the Office of the US Currency Comptroller had clearly "fat fingered" trillions in critical data which is far more logical.
As usually happens in these situations, Zero Hedge was right (there was some tongue in cheek apologybut hey, at least someone got to boost their traffic briefly by namedropping this web site; incidentally apology accepted), which could have been checked simply just by looking at bank call reports, in this case the quarterly Regulatory Capital report, schedule RC-R, which made it very clear that indeed JPM's OTC commodity derivatives had exploded to $4 trillion.
For those too lazy to check before tweeting, here is the number of OTC cleared "Other" commodity derivatives for JPM before, as of December 31: continued...
Demand from Greek customers for Sovereign gold coins was double the five-month average in June, the U.K. Royal Mint said in an e-mailed statement. CoinInvest an online retailer, said sales on Saturday and Sunday were the highest since Cyprus limited cash withdrawals in 2013, driven by a jump in German, French and Greek buyers.
Investors are searching for a safe haven after Greece imposed capital controls, closed banks and stopped selling gold coins to the public until at least July 6. Chancellor Angela Merkel on Monday said Germany is still open to negotiations if Greece wants.
“Most of our common gold coins are sold out,” Daniel Marburger, a director of Frankfurt-based CoinInvest, said by phone. “When people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold.”
Even a blind squirrell will find a nut so often. You guy's and Bull are po'd because of the "fact" that they outed the monied interests playing with the stock.
Peter's presentation @ 52:34 ( We did make an attempt to conduct a symbolic Gold Pour on May 27, 2015).
As the CEO & COO will shortly elaborate.
Instead of you bashers hemming & hawying on this. You can clearly see the dates of April 11 + 96 days for the leaching process to be complete on HLP-1 @ the 27:30 mark. It would be logical to hear or see something about the pour going into the 2nd or 3rd week of this month. You have been bashing since the gold top in 2011...what's another 2-3 weeks.
Tell the trading desk you work for to come up with something else, like their tapped out because they have been putting their funds into the company or not taking pay. That wouldn,t work either. You'll figure something out...it's your job.
Desperado's...calling missbochatter a liar? Is that you Chat? she was right and lug 2 was wrong.
missbochatter • 2 hours 29 minutes ago
THE video say U hav to ad 96 days to april 11-
Another 96 days!
Bwaahaaaha! ....Is that you Bull?
"The video says nothing buy missbochatter #$%$. Bs. Lies. That kinda stuff".
Lughead..I think she meant add 96 days to the date of April 11, 2015 hint hint...sometime around mid July.
Buckreef gold mine: Ore Processing (Leaching Pads)
3rd down on the left side of page. Hit stop so you can see it.
27:30 minute mark...cyanide irrigation & leaching on HLP-1 commenced on 11th April 2015 with an expected residence time of 96 days for complete leaching. Understand????
For years there had been speculation, rumor and hearsay that JPM had cornered the US commodities market. Now, finally, we have documented proof.
Traditionally, we look at the OCC's Quarterly Bank Report on derivatives activities to see which was the largest bank in the US in terms of total notional derivative holdings. The reason being that like on frequent occasions in the past, we find some stunning results, such as most recently in January when we wrote that, for the first time, Citigroup had eclipsed JPM as the largest US bank in total derivatives, with just over $70 trillion compared to perennial megabank JPM's $65.3 trillion as of the third quarter of 2014, explaining also why Citigroup had drafted the Swaps push out language in the Omnibus Bill.
So in summary, this is what we do know:
in Q1, JPM cornered the commodity derivative market, with a total derivative exposure of just over of $4 trillion, an increase ot 1,691% from just $226 billion in one quarter!
What we don't know is:
why did the OCC decide to effectively eliminate its gold derivative breakdown by lumping it with FX, why there was a 237% increase in the total amount of precious metals (which include gold) contracts in the quarter, from $22.4 billion to $75.6 billion.
We have sent an email requesting much needed clarification from the Office of the Currency Comptroller, although we are not holding our breath.
The Criminality of The Comex
This was written Saturday morning for publication Sunday evening. With all of the Greek-related turmoil, it has been made a public thread.
By Turd Ferguson | Saturday, June 27, 2015 at 6:19 pm
How is this even legal? That's a serious question and I'd like a serious answer after the you read what is presented below.
Immediately following the short squeeze in mid-May that resulted in a 10% price move in just five days, the "Large Specs" in silver set out to rebuild (or were tricked into rebuilding) a massive naked short position in Comex silver. As you can see on the chart below, over the past five weeks, these Large Specs have added 41,806 gross naked short contracts to their accumulated position. This drove their total reported position up from 16,891 contracts on May 19 to last Tuesday's 58,697 and is the sole, primary reason for silver falling by $2 over the same time period.
Here is where this "market" becomes fraudulent and clearly fails to serve the world's silver producers and consumers. These "Large Speculators" as a group are collectively hedge funds, managed commodity funds and High Frequency trading funds. By definition, these are trading groups and they do not hold any physical silver. Therefore, they are truly "naked" in their position as they do not have physical silver to deliver to buyers at a future date (one of the rationale for having futures markets in the first place). Continued....
Submitted by Tyler Durden on 06/28/2015 12:52 -0400
Update 2: Greece's Skai reports that if/when banks reopen (supposedly on Tuesday), a 60#$%$ withdrawal limit will be imposed.
Update: In a televised address to the nation, Greek PM Alexis Tsipras assured Greeks that their deposits are safe despite an upcoming bank holiday and despite the fact that Greek stocks will not open for trading on Monday. Tsipras also said Athens has re-applied for a bailout extension and urged Greeks to "remain calm" in the face of what is sure to be a turbulent week.
GREEK PRIME MINISTER SAYS GREEK PEOPLE SHOULD REMAIN CALM
GREEK PM: BANK OF GREECE PROPOSED BANK TRANSACTION RESTRICTIONS
GREEK PRIME SAID GREECE RE-APPLIED FOR BAILOUT EXTENSION
GREEK PRIME MINISTER SAYS DEPOSITS ARE COMPLETELY SAFE
Despite the reassurances from any and all elected (and unelected) officials, given the run on bank ATMs in Greece has turned into a stampede, it is not surprising that:
GREEK BANKS TO REMAIN CLOSED FROM MONDAY FOR A WEEK: PIRAEUS BANK CEO
PIRAEUS BANK CEO THOMOPOULOS SPEAKS TO REPORTERS IN ATHENS
The announcement was made when Piraeus Bank CEO Anthimos Thomopoulos told reporters after a meeting of the government’s financial-stability panel on Sunday. The launch of capital controls just as the Greek summer tourism season starts, is sure to be the final crushing blow to Greece, whose entire economy will now grind to a halt.
Pic of ATM out of money see ZH
That's all the folks you work for could come up with? You have to admit it was better than most. At least they answered the tough questions. It looks like they will build the company the old fashioned way.
It's sad they have to sit on the gold price. It's getting more obvious as each year passes, that banking has topped.
AGM meeting download available on TRX website. It is a slow down load.
Price is the only thing that matters...your absolutely right about that. That Seeking A piece puts the whole sorted mess into perspective. GATA was nice enough to chime in.
10:06p ET Tuesday, July 9, 2015
Dear Friend of GATA and Gold:
Recent reports from the U.S. Commodity Futures Trading Commission and the CME Group, operator of the New York Commodity Exchange, indicate that JPMorganChase & Co. is administering the Federal Reserve's gold swapping and lending operations and that for the time being the exchange's gold contracts are being guaranteed by the U.S. government.
That analysis is published today by Colorado securities lawyer Avery B. Goodman, who draws heavily on GATA's documentation of U.S. government intervention in the gold market.
Goodman's conclusion arises largely from the unnecessarily disproportionate assignment to JPMorganChase of Comex gold deliveries, as recorded in the CFTC's June 2 bank participation report for gold futures. Essentially, Goodman writes, last month the Fed rescued the Comex from a gold delivery deficiency, but the U.S. gold reserve, now guaranteeing the Comex, will not last forever.
Goodman's may prove to be the most important analysis written about the gold "market" this year. If they meant to provide the world with any serious journalism, mainstream financial news organizations quickly would put questions about Goodman's analysis to the Federal Reserve, CME Group, and JPMorgan Chase.
Goodman's analysis is headlined "Did Comex Just Receive A Physical Gold Bailout from the Fed?" and it's posted at Seeking Alpha here
au_nb: Did COMEX Just Receive A Physical Gold Bailout From The Feds? Avery Goodman Jun. 9, 2015 "On June 1, 2015, JPMorgan added
almost exactly enough ounces of physical gold to patch the deficiency between supply and delivery demand at COMEX, avoiding widespread
dealer default." "Declassified documents, along with strong circumstantial evidence, indicate that it was not JP Morgan, but its most important
customer, the US Federal Reserve, that just bailed out COMEX."
An SA poster with Cred...
Avery B. Goodman has been a licensed attorney for 29 years, and has concentrated in securities law related cases. He holds a B.A. from Emory University, where he concentrated on history and economics. He also holds a Juris Doctorate degree from the University of California at Los Angeles Law School and is a member of the Bar, licensed to practice law in several jurisdictions.
Mr. Goodman serves on the roster of neutral arbitrators of the National Futures Association (NFA) and the Financial Industry Regulatory Authority (FINRA). His career has consisted not only of prosecuting cases on behalf of clients, but also in sitting in judgment on the cases involving others, and making important decisions on intra-industry and customer disputes.
An independent investor for decades, Mr. Goodman has observed that markets are being subjected to frighteningly high, and still rising, levels of disinformation. Investors desperately need an impartial voice of logic, reason and common sense to guide them. For that reason, he is now sharing thoughts with the community.