Saturday, September 28, 2013

Tanzanian Royalty Exploratio (TNX:Toronto Stock Exchange)



Tanzanian Royalty Exploratio (TNX) Details

Tanzanian Royalty Exploration Corporation, a mineral resource company, engages in the acquisition and exploration of natural resource properties. The company primarily explores for gold or other precious metals. It holds a 55% interest in the Buckreef project located in Tanzania. The company was formerly known as Tan Range Exploration Corporation and changed its name to Tanzanian Royalty Exploration Corporation in February 2006. Tanzanian Royalty Exploration Corporation was founded in 1990 and is based in South Surrey, Canada.
Founded in 1990

Tanzanian Royalty Exploratio (TNX) Key Developments

Tanzanian Royalty Exploration Corp.(TSX:TNX) dropped from S&P/TSX Global Mining Index
Tanzanian Royalty Exploration Corp.(TSX:TNX) dropped from S&P/TSX Global Mining Index
Tanzanian Royalty Exploration Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2013
Tanzanian Royalty Exploration Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2013. For the quarter, the company reported net loss and comprehensive loss of CAD 1,497,403 or CAD 0.01 per diluted share compared to the net income and comprehensive income of CAD 385,005 or CAD 0.00 per diluted share for the same quarter year ago. For the nine months period, the company reported net loss and comprehensive loss of CAD 471,321 or CAD 0.00 per diluted share compared to the net loss and comprehensive loss of CAD 5,321,704 or CAD 0.05 per diluted share for the same period year ago. Cash used in operations was CAD 2,847,047 compared to the CAD 4,403,343 for the same period year ago. Mineral properties and exploration expenditures was CAD 4,442,843 compared to CAD 5,628,779 a year ago. Equipment and leasehold improvements, net was CAD 39,544 compared to CAD 143,948 a year ago.
Tanzanian Royalty Exploration Corp. Wins Mineral Rights and Mining License at Kigosi
Tanzanian Royalty Exploration Corporation announced that the company's Kigosi Project in Tanzania has been granted a Mineral Rights and Mining License through its wholly owned subsidiary, Tanzania American International Development Corporation 2000 Limited ("Tanzam"). The Mineral Rights and Mining License covers the entire area applied for, 9.91 square kilometres of the Kigosi Project. The grant of a Mining License allows for eventual production at Kigosi. The Kigosi Project has been certified for its environmental worthiness and safety following multiple stages of review and permits, including town hall meetings and focus group discussions among local and district residents and stakeholders, as well as local and national government regulators.

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