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Tuesday, October 25, 2011

Jim Sinclair gets his Gold Mine

Tanzanian Royalty Exploration has locked in a deal with the Tanzanian government on Tuesday. The agreement will be the foundation for a $280 million dollar gold mine and is part of the Buckreef Gold Re-development Project. DAR ES SALAAM (Reuters) - Tanzanian Royalty Exploration (TNX.TO), a Toronto-listed metals explorer, on Tuesday signed a joint venture agreement with the Tanzanian government to develop a $280 million gold mine in the east African country.
The deal involves the Buckreef Gold Mine Re-Development Project in Africa's fourth-largest gold producer, where Tanzanian Royalty, through its Tanzanian unit, TANZAM 2000, owns a 55 percent stake in the mine.

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