Issue link: http://resourceworld.uberflip.com/i/134727
Tanzanian Royalty Exploration Corp. [TNX-TSX; TRX-NYSE] has a portfolio of interests in the Lake Victoria Goldfields region, Tanzania. Its Kigosi, Itetemia and Buckreef projects have cumulative measured and indicated resources of 59.8 million tonnes at 1.26 g/t gold for around 2.4 million ounces gold. On February 15, the company announced Kigosi had been awarded an environmental impact assessment certificate by the Tanzanian government. Tawana Resources NL [TAW-ASX, JSE] announced completion of its maiden drill program for around 2,500 metres at its Liberia-located Mofe Creek iron ore project on March 18. The work is focused on the Gofolo Main and Koehnko targets, with the company reporting that it expects a potential global resource of over 500 million tonnes. Teranga Gold Corp. [TGZ-TSX, ASX] operates the Sabodala gold mine in Senegal. The operation produced 68,301 ounces gold for the quarter ending March 31, up 63% from the corresponding period the year before. Effective December 31, the mine has proven and probable reserves containing around 1.6 million ounces gold. The company is also developing the Gora satellite deposit, which it hopes to bring on stream in 2014. Vale [VALE-NYSE] stepped back from its Simandou iron ore project in Guinea towards the end of 2012. The Brazilian major was developing the northern blocks along with BSG Resources (BSGR). In early April, it was reported that a payment issue between the two companies had arisen. Complicating matters still further, the FBI recently arrested Frederic Cilins, who has been accused of obstructing a bribery investigation into negotiations for the Simandou northern block rights during the final years of the Guinean president Lansana Conte's leadership (died 2008). It is alleged he had represented BSGR. In response, BSGR said that Cilins was not one of its employees, adding that "allegations of fraud in obtaining our mining rights in Guinea are entirely baseless". n JUNE 2013 SGC:TSX.V Developing Copper, Zinc and Gold Deposits on the Asmara Project, Eritrea HIGHLIGHTS Feasibility Study on the 4 advanced project completed May 2013 demonstrating very strong economics; NPV = $837 million IRR = 34% Feasibility Study outlined a robust mining plan with a 3 phase staged start-up with Phase 1 production beginning in 2015 Full production to be achieved in 3 years – first 8 years average annual production: • ±65 million lbs. (29,000 t) copper • ±184 million lbs. (83,000 t) zinc • ±42,000 oz gold • ±1 million oz silver Ph: 604 688 9478 Email: greg@sunridgegold.com www.sunridgegold.com Project has government participation (ENAMCO) in a mining friendly jurisdiction Applying for mining license Q2 2013 www.resourceworld.com 19