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Saturday, November 12, 2011

Tanzania Royalty sees Geita duplicate at Buckreef project

TORONTO ( – Tanzanian Royalty Exploration, which saw its stock plunge by more than one-third on Thursday, aims to produce around 100 000 oz/y of gold at its Buckreef project, starting from early 2014, CEO Jim Sinclair said on Friday.

He explained the share price’s dramatic fall to be a result of hedge fund Geier selling its stake on the open market “which scared the lights out of everyone”, adding that there was “nothing whatsoever” wrong at the company.

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