Tanzania Minerals Corp. provides operational update and announces grant of incentive stock options and change in corporate secretarial staff

VANCOUVER, Feb. 8, 2012 /CNW/ - Tanzania Minerals Corp. (the "Company"), (TSXV:TZM) (FRANKFURT: TM0.F) is pleased to provide an operational update with respect to exploration at its Mrangi and Mrangi South gold properties in the Lake Victoria Goldfields area of Tanzania.  Fourteen diamond drillholes, approximately 200 metres depth each, for a total of 2,673 metres, and 58 reverse circulation for a total depth of 8,598 metres have been drilled to date.  Drilling was conducted to determine the cause of arsenic and gold soil anomalies detected by traditional soil geochemistry exploration and multiple element anomalies (e.g., As, Cu, Zn) detected using a portable XRF unit over the same area.  The drilling reported in this release focused on secondary priority targets on the licence related to a strike extension of the Phoenix mine vein swarm and metal anomalism.  Results from initial drilling were reported in a press release dated October 14th, 2011.  Preliminary gold exploration on four licences in the Kagera Region has also been initiated.

Kal Matharu, CEO of Tanzania Minerals Corp. commented, "I am pleased with the latest results of our exploration program and the identification of the two new mineralized zones encountered.  I look forward to receiving the next assay results from the drilling program to test the lateral extent of the system."  He added, "Initial exploration on our Mrangi South and four Kagera Region gold licences is encouraging, and we eagerly await the results of the soil and lithogeochemical sampling programs."

Aminex reveals new gas find in Tanzania

StockMarketWire.com - Aminex has revealed a gas discovery at the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania. 

Aminex said that further to its update on 15 February, which reported strong gas shows in a good quality Cretaceous reservoir sand at a depth of 2,660 metres, the open hole has now been logged from total depth of 2,750 metres across the zone of interest. 

Electric logs show a gross sand interval of 25 metres between 2,660 metres and 2,685 metres with a three-metre net gas bearing pay zone in sandstones with 20% porosity at the top and a 16.5 metre thick lower sandstone interval with further possible gas pay. 

Proving the presence of reservoired hydrocarbons in Cretaceous sands in Ntorya-1 opens up the potential for additional plays in thick Mesozoic sands encountered by Aminex and partners in the Likonde-1 well just 14 kilometres north of the Ntorya-1 well. 

Tanzania securities to bail out Dar es Salaam stock market

DAR ES SALAAM, TANZANIA - Tanzania's Dar es Salaam Stock Exchange (DSE) trading are expected to pick up because yields for fixed income securities and money market instruments keep on falling, thanks to easing tight money stance in the economy.

The stock exchange turnover last week dipped by almost 78% as money investors eyeing risk free government securities that in recently days offered handsome yields of between 13% and 18%.

On average stocks' dividend yields per year is around 10%. The Tanzania Securities Business Analyst Joel Nkya said, this week they anticipate improvement in the level of stocks activities following signs of coming down of treasury bills and bonds at primary market.

"Yields for fixed income securities and money market instruments keep on falling amid easing of the tight liquidity policy by the centre bank," said Mr. Nkya on the stock brokerage firm weekly report.

Tanzania NSSF to float shares to raise funds

Photo/Adam Ihucha NSSF Director General, Dr Ramadhan Dau: He said the pension fund will withhold some shares for its members.  

By ADAM IHUCHA Special Correspondent

Tanzania’s National Social Security Fund plans to sell shares in several companies it has a stake in.It is seeking to raise more funds to meet rising pension obligations and expand its portfolio.

The public pension manager says it will float shares at the Dar es Salaam Stock Exchange, giving investors a chance to own stocks in the companies.

The Fund is working out the details of which companies it is likely to divest from in an exercise sources said could happen later this year or by mid 2013.

Ramadhan Dau, NSSF Director General, said his team is currently finalising details on the shares to float and the amount of money it expects to raise before seeking approvals from market regulators.

Tanzania, Uganda in big oil & gas deals: British firm to invest $20b in Tanzania gas

The Tanzania Minister for Energy and Minerals, Mr William Ngeleja inaugurates the gas plant in Ubungo Dar es Salaam recently. (Photo by Leonard Magomba)

DAR ES SALAAM, TANZANIA - Massive  discoveries of natural gas to the offshore of Tanzania have attracted a number of international oil and gas explorers to venture into exploration project.

According to British Gas International (BGI), appraisal work showed that the offshore Tanzania contained about 3 trillion cubic feet of natural gas in the southern part of the country.

A British based firm, BGI, last week announced a massive investment plan in gas and to the Tanzanian economy as President Jakaya Kikwete said the government would make sure that the deal benefits both Tanzanians and investors.

The delegation of British investors which headed by the chairman of BGI, Sir Robert Wilson, last week briefed President Kikwete on a plan to put US$10 to US$20 billion in the economy to develop infrastructure to exploit the country's huge gas reserves.

"We are planning to invest between US$10b and US$20b in second half of this decade in gas and the Tanzanian economy," said Sir Wilson and adding, "Tanzania should prepare its economy to handle such an amount of money."

Wilson said the company has discovered huge reserves of natural gas in three wells including a deepwater one which were drilled in 2009 and last year in the Indian Ocean.

Tanzania Stock Market Commentary – Week Ending February 17, 2012

The Dar ALSI edged up 71bps to 1,310.3. The most actively traded stocks were NMB, Tanzania Breweries (+13.2% to 2,400) and CRDB Bank. The week’s top and only gainer was Tanzania Breweries. All other counters remained flat.

On the economic front, Tanzania’s year-on-year inflation rate for the month of January came in at 19.7%. This barely a relief from the inflation rate of 19.8% for the month of December.  Easing of inflationary pressure in the country as has been seen in the other East African countries may come much slower, with an expected rise in electricity costs of about 40%.

In company news, gold production in Tanzania by Africa Barrick Gold (ABG) fell by 2% in 2011 to 688,000 ounces. According to the company’s management the cost of production went up by 22% to USD 692 per ounce on the back of higher energy and labour costs. ABG projects gold production in 2012 to come in at between 675,000-725,000 ounces. The company is also considering investments in West and Northeast Africa through mergers and acquisition.

Source: African Alliance

Tanzania Stock Market Commentary – Week Ending February 3, 2012

Written by: Editorial Staff 

The Dar ALSI went up marginally by 5bps during the week to end at 1299.0. The week’s top trader was Twiga which accounted for 83% of the week’s turnover of TZS 1.3bn (USD 0.8m). Other actively traded counters were NMB, Simba Cement (-0.8% to TZS 2380), Tanzania Breweries (+1.0% to TZS 2060) and CRDB Bank. The week’s top gainers were Swissport (+3.6% to TZS 870) and Tanzania Breweries. Simba Cement was the week’s only declining stock.

In economic news, The IMF has forecast a decline in inflation to 9% in June, as a result of an expected drop in fuel prices and good harvests. High food and fuel prices resulted in inflation escalating to 19.8% as at December 2011. The IMF is advocating for tightening of the monetary and fiscal policies to aid in lowering of inflation. Economic growth is projected to ease to 6% on the back of power outages and a slowdown in the global economy.

Tanzania expects to make major commercial discoveries of natural gas over the next five years. The government is putting in place strategies to facilitate investments in this industry.

Source: African Alliance

Too Rich, Too Soon

By Jessica Silver-Greenberg | The Wall Street Journal Chris Kemper thought she was dreaming when she found out that her grandmother had left her $6 million when she died in October 2010.
But her elation quickly turned to terror when she realized she had no idea what to do with that life-changing fortune. "I was thrilled and so scared that I would bungle it," says Ms. Kemper, a 44-year-old finance executive who lives in Westchester, Ohio.
Despite the bitter economic downturn, one part of the American dream is alive and well: the possibility of sudden wealth. 
Examples abound. Consider David Choe, an artist who five years ago decided to accept payment in stock options from Facebook for painting murals in the then-fledgling firm's offices. He stands to realize as much as $200 million when the company goes public later this year.

Volatility Rising: How to Hedge the 2012 Rally

Volatility Rising: How to Hedge the 2012 Rally

Breakout

If you've caught the explosive rally since late last year you're left with a high class problem: how to lock in gains without incurring short-term gains tax or leaving yourself out of the market when stocks are still rising.More »Volatility Rising: How to Hedge the 2012 Rally

• S&P 500 Poised for Longest Rally in One Month

Tanzania sees inflation in single figures by mid 2012

NAIROBI (Reuters) - Tanzania expects its year-on-year rate of inflation will fall to single digits by June this year from 19.2 percent in November, the east African country's president said. "We are still hopeful that our economy will grow at around 7 percent and that inflation will be brought down to single digits by June, 2012," President Jakaya Kikwete said in a statement released on Wednesday.

news.yahoo.com/tanzania-sees-inflation-single-figures-mid-2012-093056476.html

Tanzania Stock Market Commentary – Week Ending December 2, 2011

The DAR ALSI moved up 9bps to 1,303.8. Top gainers were Swissport (+1.2% to TZS 820) and NMB (+1.2% to TZS 850). There were 9.7m Tanzania Tea Packers (TATEPA) shares traded at TZS 230 per share (-51.6% from TZS 475-market price) in one deal that made the tea company the week’s top value trader and top decliner. Other actively traded counters were NMB and TWIGA.

In company news, Serengeti Breweries commissioned its Moshi plant with capacity to brew 500,000hcl and is expandable by an additional 300,000hcl. This brings the brewery’s total capacity to 1.5mhcl. Serengeti Breweries is a subsidiary of East African Breweries Ltd.

Swiss company, Augusta Energy, has been awarded a USD 500m contract by the government to supply 540,000t of oil to the country for the first two months of 2012. The contract marks the introduction in Tanzania of a new bulk procurement system for oil imports.

Source: African Alliance

Tanzania: Stock Exchange in Dar es Salaam Still Standing Strong

Sebastian Mrindoko

DESPITE the economic shocks that hit the nation this year, the Dar es Salaam Stock Exchange (DSE) recorded increased activity on both equity and debt instruments compared to last year.

It continued to offer its core business that is a platform for intermediation of the securities in Tanzania and allowing providing value to the listed securities.

It also continued with an important task of regulating the market to ensure investor protection, efficient processes and best practices. "The 2011 has been a good year for the equity market against the backdrop of challenges seen in the macro-economic parameters like the weak shilling against major currencies, high inflation, high interest rates," said the DSE Chief Executive Officer, Mr Gabriel Kitua, in an interview over the bourse performances.

This year, African Barrick Gold (ABG) cross-listed and Precision Air will be listed on Wednesday December 21. The two companies have added an opportunity for them to be able to fund their future growth through issuance of bonds or additional shares through our capital markets.

According to Mr Kitua, the new companies also have widened the investment opportunities to Tanzanians that has always been limited. The value of listed securities appreciated improving the wealth and so the livelihood of the investors holding the stocks in our market. For example, the Tanzania Share Index that tracks movement in value of listed domestic companies appreciated by 22 per cent from 930.09 points in January to 1,142.97 points as of November 2011.

Euro could become world's leading currency: Noyer

PARIS (Reuters) - The euro could become the world's leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bankpolicymaker Christian Noyer said in an article to be published in the Journal du Dimanche.

European leaders struck a historic deal at an emergency summit in Brussels on December 9 to draft a new treaty for deeper economic union, in an attempt to stem the debt crisis that is threatening to cause the collapse of the single currency.

The news temporarily calmed markets. But concerns quickly resurfaced as the final details of the agreement have yet to be determined and a new treaty could take up to three months to negotiate.

Ratings agency Fitch has said it doubts a comprehensive solution to the crisis can be found and urged more decisive action from the ECB.

Market Summary November 21, 2011

streaming quotes: ON

Symbol	Last	Change
Dow	11,547.31	248.85 (2.11%)
Nasdaq	2,523.14	49.36 (1.92%)
S&P 500	1,192.98	22.67 (1.86%)
10-Yr Bond	1.9620%	0.05
NYSE Volume		0
Nasdaq Volume		0

Indices: US - World | Most Actives

Advances & Declines

	NYSE	NASDAQ
Advances	472 (15%)	436 (16%)
Declines	2,650 (83%)	2,130 (80%)
Unchanged	62 (2%)	85 (3%)
Up Vol*	269 (6%)	419 (20%)
Down Vol*	3,969 (93%)	1,641 (79%)
Unch. Vol*	11 (0%)	11 (1%)
New Hi's	122	114
New Lo's	199	343

^*in millions

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Your Lawmaker Getting Rich off of Insider Trading?

Your Lawmaker Getting Rich off of Insider Trading?