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Last C$0.41 CAD
Change Today +0.015 / 3.80%
Volume 26.0K
As of 3:51 PM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

tanzanian royalty exploratio (TNX) Snapshot

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10/8/14 - C$2.37
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06/12/15 - C$0.32
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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 interests in the Buckreef project located in the Mwanza provincial district, the Kigosi project located in the Kigosi Game Reserve controlled area, the Lunguya property located in the Kahama district, the Itetemia property located in the Mwanza region of the Lake Victoria Greenstone region, and the Luhala property located in Misungwi district of Mwanza region, as well as a 75% interest in the Kabanga project located in the Kibaran Fold belt of the north west 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 Toronto, Canada.

Founded in 1990

tanzanian royalty exploratio (TNX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$95.0K
Chairman, Chairman of Technical Committee and...
Total Annual Compensation: C$113.1K
Corporate Accountant
Total Annual Compensation: C$115.0K
General Manager and Member of Technical Commi...
Total Annual Compensation: C$102.0K
Compensation as of Fiscal Year 2014.

tanzanian royalty exploratio (TNX) Key Developments

Tanzanian Royalty Exploration Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2015

Tanzanian Royalty Exploration Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2015. For the quarter, the company reported loss and comprehensive loss for the period attributable to owners of the company of CAD 6,287,880 or CAD 0.06 per basic and diluted share compared to CAD 697,389 or CAD 0.01 per basic and diluted share a year ago. For the nine months, the company reported net loss and comprehensive loss for the period attributable to owners of the company of CAD 7,033,157 or CAD 0.07 per basic and diluted share compared to CAD 633,112 or CAD 0.01 per basic and diluted share a year ago. Cash used in operations was CAD 459,186 compared to CAD 2,860,720 a year ago. The capital expenditure was CAD 652,286 as compared to CAD 331,723 a year ago. The increase in capital expenditures is due to construction of the heap leach pads and processing plant. Net loss was CAD 6,965,509 compared to a net loss of CAD 766,866 a year ago. The main difference in net loss between the two periods period is due to the lower gain from the revaluation of warrant liability during the nine month period ended May 31, 2015 of CAD 331,000 compared to gain of CAD 3,491,000 in 2014.

Tanzanian Royalty Exploration Corp. Appoints Jeffrey R. Duval as New Vice President of Project Logistics

Tanzanian Royalty Exploration Corporation announced the appointment of Jeffrey R. Duval as new Vice President of Project Logistics. Jeffrey brings to the company over a quarter-century of experience working with some of the large construction firms in the US south-west. His experience in time-management, excavation, movement of material, earthworks, and related skills will be a valuable asset to the Company as it aggressively moves to monetize the in-ground assets on its various licenses.

Tanzanian Royalty Exploration Corporation Secures Unrestricted $1.53 Million Dollar Bullion Loans

Tanzanian Royalty Exploration Corporation announced that, as part of its forward-path to the development of multiple cash flows from multiple, simultaneous, projects in the United Republic of Tanzania, it has successfully secured unrestricted $1.53 million dollar bullion loans. Under the terms of the loan agreements, the bullion loans for a period of one year are subject to renewal and carries an 8% interest rate payable quarterly. The bullion loans may be repaid in cash or common shares of the company or gold in specified form. If the bullion loans are paid back by bullion, the valuation date for such bullion will the date of the loan agreements. Interest is payable quarterly, either in cash or in shares at a price of $0.27658 per share. There is no prepayment penalty.


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