TORONTO, ONTARIO--(Marketwired - June 16, 2016) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") is providing the following report with respect to the Carbon in Leach (CIL) Gold Recovery Plant Installation at Buckreef.
During its period of force majeure, the Company was unable to perform many functions. Although we were unable to mine and process our gold bearing material, we were not at a complete standstill. We were able to perform the functions which could be safely undertaken and protected by our security services. During the time out, we began installation of the gravity recovery component of the future CIL plant. Over the course of this week we will begin testing the gravity circuit by processing three different ore types; sulphide, transition and oxide. This testing is to insure that the crushers are set up to effectively process the ore types to the required size and to identify any issues that might need correction or recalibration. Once the material has passed the crushers it will then report to the scrubber where it will be turned into a slurry prior to actual gold recoveries using a simple concentrator and shaking table. This will serve to establish a benchmark of free recoverable gold. Samples of each gold bearing material type will be taken and submitted to Mintech Lab in Mwanza to establish the grade of the material tested. As we are able to resume our processing functions now, we will be able to proceed with the new CIL plant without any significant delay as we make the conversion from our former Carbon in Column (CIC) plant to the new plant.
As we complete our testing phase of the gravity recovery component, all indications are that we will have the potential to begin generating steady cash flow. Currently, our plan is to implement the second phase of the CIL expansion from treasury. With the completion of the entire gravity/CIL plant we anticipate experiencing significantly faster production cont'd....
June 9, 2016
TORONTO, ONTARIO--(Marketwired - Jun 9, 2016) - In March 2016, Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") declared force majeure under its Joint Venture Agreement for the Re-Development of the Buckreef Gold Mine with State Mining Corporation of Tanzania ("Stamico"). This was appropriate and necessary in order to protect our personnel, property and vested interests in our mines. In our case, over two hundred illegal miners invaded our camp following a controversial speech by a government official. For reference see our news release dated March 3, 2016.
The Company thereafter moved to open negotiations with Stamico in order to resolve these issues in Tanzania. The Company consulted counsel and was apprised by counsel that we had a viable avenue of relief in the Canadian Tanzanian Economic Treaty of 2013 ("the Treaty"). The aim of the Treaty is to intensify economic co-operation and promote sustainable development for the mutual benefit of both countries and to create and maintain favourable conditions for investments by investors of one party in the territory of the other party, and includes provisions for the promotion and reciprocal protection of such investments favour the economic prosperity and sustainable development of the two Parties by stimulating investment initiatives.
For further information regarding the Treaty, please see:
Agreement between the Government of Canada and the Government of the United Republic of Tanzania for the Promotion and Reciprocal Protection of Investments
We are a Canadian company that has invested $93,500,000 CDN in Tanzania. Our desire is not to litigate with Tanzania. Our goal is to carry on our corporate business in Tanzania and fulfill our contractual commitments in peace and harmony with the support of the Canadian and Tanzanian governments.
The Treaty between the governments is binding on the governments themselves under the auspices of the United Nations. continued...
'Avengers' threaten new insurgency in #$%$ia's oil- producing Delta: Reuters reported that a new radical group called the #$%$ Delta Avengers has claimed a series of pipeline bombings in #$%$ia's oil-producing region this year. Their attacks have driven #$%$ian oil output to near a 22-year low. The group has carried out a string of attacks since February that reduced oil output by at least 300K bpd, and shut down two refineries and a major export terminal. It added that the group emailed journalists last week saying it was fighting for an independent Delta and would step up its attacks unless oil firms left the region within two weeks.
#$%$ia is now the Big Oil worry: Bloomberg discussed the threat that the "Avengers" pose to #$%$ia's oil sector and Big Oil's involvement in the country. It said with no solution in sight to the problems, production from onshore and shallow-water oil fields looks vulnerable. If the latest group of freedom fighters seeks to outdo its predecessors, then deepwater facilities may be at risk too. The group forced Shell's Forcados terminal to shut in ~250K bpd of exports, and breaching an offshore Chevron facility in the 160K bpd Escravos system.
Libyan oil blockade partially lifted: The WSJ noted that Libya's divided oil officials have agreed to allow oil to flow again between the country's east and west but have yet to end a crisis that is blocking exports. The factions that control Libya's east will allow crude oil to be shipped to refineries in the west, the first step in resolving a dispute that has further eroded the country's ability to profit from its large oil reserves. Libya's production has collapsed to less than a quarter of its capacity of 1.5M bpd.
April crude oil output lowest since July 2013: Reuters reported that China, the world's fourth-largest oil producer, pumped 5.6% less crude y/y in April. China produced about 4.04M bpd, the lowest rate since July 2013.
2. What a pathetically small amount of money to go down on for an easily traceable crime.
380K .... who knows what else. The bullion banks should be on the hook for billions.
46. On the morning of November 10, as Gibson prepared to liquidate GISF’s
remaining TRX position, he knew that the impending sale of the Fund’s TRX holdings
could greatly depress TRX’s share price, writing to one GISF broker that “we are going to
potentially tank this stock.”
47. At the opening of the market at 9:30 AM on November 10, 2011, Gibson
immediately began selling all of GISF’s remaining 4.9 million TRX shares. TRX’s share
price, which opened at $3.41, immediately began to plummet, declining to approximately
$2.99 by 9:45 AM. At 9:52 AM, the New York Stock Exchange halted trading in TRX for
five minutes due to the dramatic drop in TRX’s share price.
48. At 10:00 AM that day, shortly after the trading halt in TRX was lifted, and
with TRX’s weighted average share price down to $2.02 per share, Gibson sold all of the
$4 TRX put contracts in his account. Two minutes later, with TRX at $2.00 per share, he
sold all of the $4 TRX put contracts in his then-girlfriend’s brokerage account. At 11:40
AM that day, with TRX’s weighted average share price at $2.30, Gibson’s father likewise
sold all his $4 TRX put contracts.
49. As a result of the substantial decline in TRX’s share price, these put
positions were highly profitable when sold. In particular, the total profits from these sales
were approximately $380,000 – with over $254,000 coming from the put positions in
Gibson’s then-girlfriend’s account; approximately $82,000 coming from the put positions
in Gibson’s personal account; and approximately $43,000 coming from the put positions in
Gibson’s father’s account.
50. Although he purchased the profitable $4 TRX put contracts for himself and
his then-girlfriend’s account and advised his father to purchase them as well, Gibson did
not buy $4 TRX put contracts for the Fund – which was financially and legally able to buy
them – and did not share this opportunity with other clients.
Continued.... SEC GOV
Posted May 15th, 2016 at 10:47 AM (CST) by Jim Sinclair & filed under General Editorial.
In our system, a person is considered innocent until proven guilty.
Here is some information of alleged acts dating back to 2010 to a situation many of you directly experienced and a few even repeated as presented to you in chat rooms and on public websites. My company and I have been hounded by internet trolls directly based on alleged material produced by these alleged acts.
ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND- DESIST PROCEEDINGS PURSUANT TO SECTION 21C OF THE SECURITIES EXCHANGE ACT OF 1934, SECTIONS 203(f) AND 203(k) OF THE INVESTMENT ADVISERS ACT OF 1940, AND SECTION 9(b) OF THE INVESTMENT COMPANY ACT OF 1940
UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934 Release No. 77466 / March 29, 2016
INVESTMENT ADVISERS ACT OF 1940 Release No. 4359 / March 29, 2016
INVESTMENT COMPANY ACT OF 1940 Release No. 32059 / March 29, 2016
ADMINISTRATIVE PROCEEDING File No. 3-17184
In the Matter of CHRISTOPHER M. GIBSON, Respondent.
The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Section 21C of the Securities Exchange Act of 1934 (“Exchange Act”), Sections 203(f) and 203(k) of the Investment Advisers Act of 1940 (“Advisers Act”), and Section 9(b) of the Investment Company Act of 1940 (“Investment Company Act”) against Christopher M. Gibson (“Respondent” or “Gibson”).
By the Commission.
Brent J. Fields Secretary
Submitted by Tyler Durden on 05/13/2016 17:57 -0400
Over the last several years we have documented with clockwork regularity Venezuela's collapse into failed state status, which was cemented several weeks ago when news hit that "Venezuela had officially run out of money to print new money." At that point the best one could do was merely to step back and watch as local society and civilization turned on itself, unleashing what would ultimately turn into Venezuela's own, sad apocalypse.
Last night we showed what Caracas, looks like this week: Zero Hedge
Jason Burack of Wall St for Main St interviewed returning guest, precious metals expert and author on JS Mineset. Producer lawsuit against the banks discussed among other things.
All that considered, Cruz is looking to spend more time in Washington, D.C. He says he will run for re-election in 2018.
Just in time to read “The Confessions of Congressman X.”
'My main job is to keep my job, to get reelected. It takes precedence over everything,' an anonymous member of Congress writes in a new book
May 13 2016, 14:47 ET | By: Carl Surran, SA News Editor
A change to an obscure maritime law is helping draw major oil companies to an area off Canada’s east coast that may rival the North Sea for its production potential, Bloomberg reports.The government of the province of Newfoundland and Labrador is adding 13 new parcels in an auction set for this November, as the removal of a decades-old shipping restriction opened the area to more vessels seeking oil and natural gas.Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Statoil (NYSE:STO) and BP are among the companies that committed to spend C$1.2B in auctions last November for seven parcels off the coast.The exploration blocks awarded last year may hold as much as 12B barrels of oil, but the price of oil remains low and drillers have trimmed their budgets, so development likely will come slowly.
Could it be either or both...
Greg Hunter: around the 19:30 mark " I am told that renowned gold expert Jim Sinclair is preparing a lawsuit against the big banks that suppressed the gold. Other lawsuits have been filed or are on the way. usawatchdog weekly-news-wrap-up-4-22-16
Jim Sinclair is preparing a suit against the banks for the benefit of TRX shareholders? Between Greg Hunter's weekly market wrap and the interview on the 17th starting @ 12:20 mark, Sinclair's old saying: he doesn't play for peanuts comes to mind.