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true north gems inc (TGX) Snapshot

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03/5/14 - C$0.17
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true north gems inc (TGX) Details

True North Gems Inc. explores and develops colored gemstone deposits in Greenland and Canada. The company primarily explores for ruby, emerald, and sapphire. It owns 100% interest in the Aappaluttoq ruby project that consists of 2 prospecting licenses comprising 8 claim blocks covering 823 square kilometers in southwest coast of Greenland. It also holds a 100% interest in the Tsa da Glisza emerald property consisting of 105 claims located in Yukon, Canada; and the Beluga sapphire property comprising 4 claims located on Baffin Island, Nunavut in Canada. True North Gems Inc. was founded in 2001 and is based in Vancouver, Canada.

Founded in 2001

true north gems inc (TGX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

true north gems inc (TGX) Key Developments

True North Gems Inc. to Update Aappaluttoq Pre-Feasibility Study

True North Gems Inc. announced that TetraTech EBA of Vancouver has been engaged to update the pre-feasibility study for the Aappaluttoq Ruby and Pink Sapphire Project, SW Greenland. TetraTech EBA have already commenced the work and the company anticipates the release of the updated technical report during the first quarter of 2015. The current PFS was completed in 2011. Additional engineering and market analysis studies have since been completed by the company. Results of these studies are now available at a suitable confidence level to be incorporated into a new PFS. This will include: Review and update with current information, the existing mine plan, scheduling, permitting, civil and flow-sheet engineering. Complete a new economic assessment incorporating a complete market analysis to assess the positioning for Greenland Ruby and Pink Sapphire in the luxury goods sector. Highlight the value for the Company's shareholders of having the participation of strategic Greenlandic joint-venture partner, LNS- Greenland. The Project has progressed since the completion of the 2011 PFS with the required permitting in-place, commencement of site construction, corporate structural changes, and a deeper understanding of the upcoming mining operation with the input from its joint venture partner. Recently there has been a strengthening of the gemstone and luxury goods sector and the updated study will take these factors into consideration while also providing a current representation of the project for shareholders.

True North Gems Inc. Provides Updates at the Aappaluttoq Mine Site in SW Greenland

True North Gems Inc. provide a development update at the Aappaluttoq mine site in SW Greenland. Mobilization of equipment for True North's Aappaluttoq Ruby and Pink Sapphire project commenced on September 23, 2014. LNS Greenland A/S has mobilized very efficiently and True North is extremely impressed at the progress of development achieved by LNSG in such a short time period. Initial site construction activities have now commenced, including, Upgrading and winterization of the current exploration camp; Installation of a small construction camp at the outer port; Construction of a temporary safety compliant explosives depot; The fabrication of the landing dock; Development of a 1.5 kilometer construction route from the outer port toward the main camp site; Heavy equipment including haul trucks, a blasting drill rig, front end loaders and excavators are on site and active; and blasting to prepare the permanent camp site, helipad area and the future road network.

True North Gems Inc. and LNS Greenland A/S Initiate Construction at the Aappaluttoq Ruby Mine, Greenland

True North Gems Inc. announced it has issued the commencement notice to its joint venture partners LNS Greenland A/S (LNSG) to authorize mobilization of equipment and inaugurate construction at the Aappaluttoq Ruby and Pink Sapphire project located in SW Greenland. Key construction objectives include: transportation and installation of the pre-fabricated loading dock enabling mobilization of equipment to site; movement of rolling stock required to commence road construction; set up and establishment of the living quarters and accommodation for construction crew which facilities will remain for future operations; the completion of all infrastructure, which will enable planned production to commence in 2015. The issuance of the commencement notice as required under the terms of the joint venture agreements with LNSG is now possible following project financing. Progress reports will be issued periodically as construction milestones are achieved.


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