Posts Categorized: General Editorial

Posted by & filed under General Editorial.

FOR IMMEDIATE RELEASE April 8, 2020

TORONTO, April 7, 2020, (GLOBE NEWSWIRE) – Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to provide an update on its Buckreef Project following the press release of March 17, 2020 that announced the results of the 2019 drilling campaign which more than doubled the estimated Mineral Resource in the Measured + Indicated categories for the Buckreef Shear Zone to 2.3 million contained ounces of gold.

Drilling continues in the Company’s Phase III (Ultra-deep) program that was announced on February 26, 2020.

The Company is today announcing the following additional updates on the Buckreef Project:

1. First Bucket; On April 6 2020 the first bucket was excavated from the Buckreef Open pit, signaling the beginning of mining for ores to be processed by the Company’s new Oxide Plant. Initially topsoil will be removed from the oxide open pit and stored on a sperate topsoil pad. Following removal of the topsoil, oxide ore will be placed in several stockpiles on a separate Run-Of-Mine pad for blending as feed to the Oxide Plant.

2. Cold Commissioning; The Company’s contractor has announced that before the end of the month they plan to initiate cold commissioning of the Oxide Plant. In a cold commissioning test, all the parts of the plant will run but there will not be any ore processed.

3. Conceptual Underground Stope: The Company’s Advisor, SGS Canada Inc., has completed a geotechnical assessment of the Buckreef Deposit at depths below the proposed open pit. The report provides recommendations to guide stope, underground infrastructure, and crown pillar designs. Key recommendations are:

a. A crown pillar with a minimum thickness of 15 m between the open pit and underground workings

b. Unsupported long hole longitudinal stopes have been assessed for widths of 7.5, 10, and 12.5 m for both single and double, 25 m sub-level intervals heights, using Q’ median values. These conceptual or Level 1 underground stope designs will now be advanced to the next level of mine design as the basis for a possible underground operation below the planned Buckreef open pit. This open pit is the basis for the June 26, 2018 43-101 Pre-Feasibility Report.

4. Metallurgical Testing Started on Primary Ore: The Company’s Advisor, SGS Canada Inc, has started testing several large samples at its Lakefield, Ontario, Canada facilities. These samples were collected from holes recently drilled in the area of the Pre-Feasibility Study open pit to collect critical flow sheet and design information for a large plant that will process the primary ore that lies below the oxide ore currently being mined. This large plant will be the basis for the Company’s Final Feasibility 43-101 Report.

States Mr. James E. Sinclair, Executive Chairman of the Company “Following the announcement of a doubling of our highest quality resources we are now well placed to complete our oxide ore project and then proceed to Final Feasibility study as evidenced by today’s updates.” Mr. Sinclair goes on to state that “we still have several drills on the property as our testing of the ultra-deep potential and the possible extension of the Buckreef Shear Zone continues.”

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered professional natural scientist with SACNASP (Reg. No. 400028/08).

Respectfully Submitted,

“James E. Sinclair”

James E. Sinclair

Executive Chairman

For further information, please contact Michael Martin, Investor Relations, via email at m.martin@tangoldcorp.com, direct line 860-248-0999, or visit the Company website at www.tangoldcorp.com

The Toronto Stock Exchange and NYSE MKT LLC have not reviewed and do not accept responsibility for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings. You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

eblast

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Posted by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

      The week starts off with a positive gain in Gold with the trade at $1,667.60, up $21.10 after reaching $1,673.00 with the low at $1,638.20. The Tag a Long Kid – Silver, is up as well with its trade at $14.790 up 29.6 cents after reaching $14.86 with the low at $14.355. The US Dollar is still above par with the trade at 100.715, registering a gain of 0.038 after hitting a high of 100.945 with the low at 100.535. Of course, all of this happened before 5 am pst, the Comex open, the London close, and after Boris went to the hospital, and just before Japan declares a State of Emergency.

      Everything precious metals is green in the Emerging Markets this morning. In Venezuela, the price for Gold gained 340.57 Bolivar over the weekend with the trade at 16,655.15 with Silver doing the same, adding 1.598 with the trade at 147.715 Bolivar. Argentina’s Peso added 2,583.51 A-Peso’s to the price with the last registered trade at 108,086.37 with Silver now at 958.318 A-Peso’s showing an additional gain of 13.738 since the Friday morning count. Turkey’s Lira is also dropping in value and pushing the prices higher with Gold now at 11,297.62 Lira showing the additional gains of 327.96 with Silver adding 1.8755 T-Lira with the last trade at 100.111.

      April Silver’s Delivery Demands now shows a count of 54 fully paid for contracts proving a drop of 7 from Friday’s count which had a trading range between $14.59 and $14.436 with the last trade showing at $14.55 with the adjusted and fixed close at the low price when no real trades registered below $14.55. So far this morning, we have 1 trade in the Volume column at $14.550 making Friday’s low close nothing but a manipulation of price, not related to any purchase. Silver’s Overall Open Interest fell by 1,430 contracts from Friday’s early morning report, giving us the starting tally of 138,754 Overnighters now in play, as we wait to see what the markets will do without all that controlling paper made to keep the price low when we should already be in 3 digits from the left of the decimal.

      April Gold’s Delivery Demands now stands at 1,905 fully paid for contracts proving 2,182 obligations got settled out on Friday with that day’s trading range between $1,636.00 and $1,619.80 with the last trade at $1,634.20 and the adjusted close at $1,633.70. So far this morning we have a Volume of 393 up on the board with a trading range between $1,655.60 and $1,625.90 with the last trade at the high showing a $21.90 gain so far. Gold’s Overall Open Interest continues to fall as another 6,138 pieces of paper exited the trade, since Friday morning, leaving 484,056 still in play.

      Supposedly the next 2 weeks will be brutal, as warned by the USA Viral Team weeks ago, and as mentioned above, Boris is in the hospital with this life taking biological and after China sold four billion masks to foreign countries since March. Britain purchased millions of masks and test kits making us wonder, are these newly made products, created by someone who just so happens to be a carrier of this virus? Can anything from the CCP be safe or trusted going forward? Let’s face it, this event in our lives is a true financial depression maker, no one can deny this at all.

      Now that we are here, the idea of cash at home is still good, but having stored foods, to carry a family over the time it takes to reboot the global system, may be more important. Leaving everyone with the question, how long will a reboot take, and will it succeed? Food wealth may take the place of immediate cash, with physical Silver and Gold set aside, and away from any third party, till for after the devaluation happens. Which may be in play now, remember Trump knows bankruptcy very well, and at the same time, the Open Interest in precious metals is dropping hard and fast.

      So Keep Positive No Matter What! That smile is by far more contagious, than the bug, because a happy face can be seen at a distance and thru masks and windows. As Always …

Stay Strong!

J. Johnson

More J. Johnson content is available with purchase of a JSMineset subscription

Posted by & filed under General Editorial.

If any of what we are seeing within our markets is factual and true, then why can no one find and buy real physicals at the Comex prices? As far as getting bars from the Comex Warehouses, we are told it’s still happening but that has to be questionable, at best. Yet the disparities between what is called Comex, the last place on the planet to buy anything in size, is suppose to be the real, then why is there no place here in the USA with product in stock?  

     Buyers across our country cannot find physicals period! If there is an ounce sold, sellers are refusing to accept any deal without a substantial premium to Comex. Both Coasts are showing a $10 spread for Silver. As far as Gold, just add $200 to Comex’s price anywhere and you’ll be close enough to getting that ounce, maybe. Check yourself, most suppliers are out of everything.

      If everywhere one looks to buy physicals yet cannot get it at or near the quoted Comex price, then the lie is at the exchange because they trade the paper, not the physical (ok, the exception maybe 1/10th of 1% of all trades). There are reasons to watch as the Comex corrects; Look at the spreads the arbitragers are going to make money on, when they buy from the Comex. They take the big bars, and have them melted into 1- and 10-ounce bars, then sell them to the retailors because people want the products! The arbitragers maybe about to settle out the differences between the real price and the Comex price, but by then, the prices could be substantially higher. Said another way, Comex is about to correct itself much higher, because that spread between the real price and the Comex is at 43% in Silver and Gold has a 12%+ spread!

      I’ve spoken with Bill to see if he can access anything. The answer in two words, “very limited”. If you cannot locate physical, while this dip is in, you may not be able to get any going forward (until?). All dynamics have changed since the virus. Our economic system is in trouble and so is our debt markets. The point is, this war in price has gone asymmetric, and has made the cash market (street price), The Real Market! COMEX prices have become totally irrelevant. In the absolute extreme, COMEX contracts could go to zero and physical metals could be unobtainable. A reminder of the most recent audios with the boys in the subscriber’s side is a comment Jim had made; “what is a contract worth that cannot perform”?  His answer was zero!

Contact Bill Holter to get a real quote on the real product, and get it in your hands while there is still product to be had.

Stay Strong!

J. Johnson

More J. Johnson content is available with purchase of a JSMineset subscription

Posted by & filed under General Editorial.

This week’s discussion will be held for subscribers for 24 hours and then released to the public as so many now have questions as to what has happened.      

Posted by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

      June Gold is still being held in check after the Sunday night rally sent the noble metal to $1,673.60 with the trade now at $1,644.50 down $9.60 after being dipped to $1,635.70 at the start of London’s time. Silver is leading the decline with the May contract at $14.16 down 37.4 cents after being forced down to $13.945 but only after the price rallied to $14.71. The US Dollar is up 55.8 points at 99.095 and close to the high at 99.165 with the low point at 98.395. Of course, all of this happened already before 5 am pst, the Comex open, the London close, and after everything possible was used, in their wallets, to set price against real “In Hand” value.

      In Venezuela, Gold gained 18.97 Bolivar with the trade at 16,424.44, yet Silver is losing with the trade at 141.423 showing a loss of 5.243 Bolivar. Argentina’s Peso has Gold valued at 105,852.00 proving a gain of 532.48 over the weekend with Silver losing 30.21 A-Peso’s with the trade at 911.547. The Turkish Lira has Gold trading at 10,781.64, it too showing the first money gaining 189.57 Lira’s yet taking 1.8385 Lira value from the second with Silver’s last trade at 92.8552 T-Lira.

      April Silver Deliveries will start in earnest on Wednesday with the demand count now at 900 contracts as we wait for the hold outs – to get out – so we can see what numbers will be used to lie the deliveries and with a Volume of 133 up on the board inside a trading range between $14.115 and $13.915 with the last at $14.025. March Silver’s last day of purchasing concluded with a buy total (Volume) of 80, showing the last trade Mr Resolute (what I call the buyers) made as 400,000 ounces swapped hands. Silver’s Overall Open Interest is still dropping and with the noticeable slowing since we are now at the same levels when Silver rallied the last time with the Overall Count losing 434 Overnighters giving the new total of 141,943 Obligations.

      April Gold’s Open Interest is now at 37,408, showing a much larger issue for the sellers of paper, which is obviously not backed with product, as we have to wait for the end of the month to start the deliveries with this mornings Volume at 5,042 happening inside a trading range between $1,652.80 and $1,613.10 with the last price at $1,617.90. Last Friday’s March close-out actually had no buys in Gold at all! That pending order of 3 stood out all day long with no additions, Spooky! Gold’s Overall Open Interest is now at 528,851 showing a slowing down, yet still removing 1,319 Overnighters.

      I ran across this story this morning; the CFTC quietly (allows) the bail out of Capital One as the governing bodies, who authorized the EFP’s of Silver and Gold to London without objections, are now allowing banks to float a loss, instead of liquidating, or forcing them to exit a bad trade, and letting those that are far more responsible the lead. “So what exactly happened? According to a spokesman for the CFTC, the commodities regulator issued a waiver to protect the bank and its energy clients from “undue disruption,” given the unprecedented market conditions over the past month amid the coronavirus outbreak.” It’s remarks like these that should be challenged but no one is allowed to. If everyone in Commodities has the same set of rules, and these overleveraged algo controlled companies cannot react by protecting their own assets with their machines, then why is the CFTC allowing Randolph and Mortimer Duke to stay in their trade and get a bailout? To add to this that same spokesperson claimed; “We have actively encouraged all market participants to identify regulatory relief or other assistance that may be needed to help support robust, orderly and liquid markets in the face of this pandemic…” All this time, I thought the governing bodies where here to assure us all, that the rules that are set, are equal and apply to everyone, NOT to assure liquidity. Liquidity has been the word used for, and by, manipulators as more paper is allowed to cover what is left of the physicals.

      So here we are, with banks getting vouchers instead of clearing losing trades. These are the things we holders of Silver and Gold have been forced to deal with for too long now. In short, we had another Lehman moment that was stopped because a few bad trades would change everything into something out of the controls of Algos. What’s in your Wallet? Has been the subject we’ve been writing and talking about ever since day one. You can’t even find precious metals at these prices anywhere, and we’re to believe a governing body that helped the situation along to where we are right now? Sorry, my wallet doesn’t have the crap they claim is money, I have physicals.

      So, keep that smile on your face and a positive attitude in the head no matter what. We are at the point of change, and it is up to us to move forward. As Always …

Stay Strong!

J. Johnson

More J. Johnson content is available with purchase of a JSMineset subscription

Posted by & filed under General Editorial.

Great and Wonderful Wednesday Morning Folks,

     Apparently, it’s correction time at the Comex with Gold getting the pressure during London’s watch, but only after Gold reached $1,699.30 before they opened on the island’s trading period with the price right now at $1,627.80, down $33 after being forced down to $1,615.20. We used to have symbols on the monitor, before the algos erased all evidence, that would tell us the markets were in fast trading. This is when the floor’s governing bodies, who used to watch for illegal activity in the pits, would raise both hands up in the air and walk backwards away from the floor, meaning any price is a good price. For brokers outside the pit, the letter “F” next to the price warned everyone about the floor’s activities. Even though those days are gone, today’s movements while writing would have been labeled as FAST. Silver however, is not moving at all with the trade at $14.47, up 21.3 cents after hitting $14.895 with the London low at $14.325. The rallying US Dollar, is having trouble with the value as we see another pullback after our 10% rally with the trade at 101.480, down 76.7 points yet recovering from the low of 101.240 with the high at 102.110. Of course, all this happened before the Comex open and after the White House and Senate have agreed on the “Largest Rescue Package In American History” (to date).

      In Venezuela, Gold is now priced at 16,257.65 Bolivar showing a 402.50 pullback with Silver gaining 5.143 Bolivar with the price at 144.519. Argentina’s currency now has Gold valued at 103,670.88 Peso’s showing a reduction of 2,687.17 with Silver at 921.229 showing an addition of 31.325 A-Peso’s. Over in the land of Turkey, Gold’s price is set at 10,485.65 Lira a reduction of 34.96 with Silver at 93.2488 proving an increase of 2.6136 T-Lira.    

      March Silver Deliveries were very active during yesterday’s Comex trading period as the Volume jumped to 167 inside a trading range between $14.075 and $13.36 with the very last physical trade at $13.97 with the adjusted closing price at $14.229. Today we have a Physical Demand Count of 106 up on the board, proving a reduction in count of 18 after all that activity. So far today, we have a Volume of 103 already posted inside a trading range between $14.715 and $14.455, with the last trade at $14.495. Silver’s Overall Open Interest continues to collapse as another 5,848 Overnighters jumped ship, but only after their captain steered the ocean liner directly into an iceberg of titanic size, hitting a $1 rise ($5,000 per contract) leaving 151,302 Overnighters still onboard and in the trade. We’re only 13,000 contracts away from the OI that was held back when Silver went to $49.84. From this point forward, the controllers may simply be out of ammo and are now susceptible to the real purchases since there is no coins, rounds, bars, out there at these prices. Thank you Comex, for being the last place to buy $10 to $8 below the real. Let’s see how you can supply the demands or fail. With Trump demanding he will keep the markets open; you may be the ones forced to deliver.  

      March Gold’s Deliveries were also quite active during yesterday’s activities, especially for a cereal month, with to total Volume at 442 inside a trading range between $1,685.50 and $1,592.70 with the last purchase at $1,648.60 and of course the adjusted close at $1,660.20. Today’s early morning post shows yesterday’s huge gain in demand as the Demand count went to 386 proving 355 more purchases were made for physicals with this morning Volume at 106, with a trading range between $1,676.50 and $1,637.40 with the last purchase so far at $1,638.40. Gold’s Overall Open Interest now sits at 548,504 Overnighters showing that same Algo Captain running into yesterday’s huge $100 high berg.

      Spreads for physicals are being blown out as coins, bars, or whatever we can get, is up to $150 over spot for Gold, with Silver’s spreads up to $10, as Comex becomes the cheapest place to buy physicals. Smart buyers are taking advantage of the spreads and jumping into the Comex to make profits in between. All these buyers have to do is take delivery of the Comex bars and send them to a dealer with access to a smelter that will melt that bar down and make it into the sizes and shapes people want in real life. That is “if” they can get the bars. What I mean here is all the Comex warehouses are now in a city under locked down, with London being shut down too and with the help of Boris, who seems to be wearing a brown shirt! With the Canadian Mint shut down, and the US Mint running out of everything, I’m sure these bars will deliver themselves. From where I’m sitting, I don’t see a problem, do you? I am also quite curious about the ratio spread between Au/Ag. Could it be someone not onboard the Algo ship, is trying to stretch the spread till one side breaks? Only time will tell as we go thru an event, epic in the history of man.

      So, remain calm. Have a smile on your face and a prayer for all who are sick. May the recovery be short, so we can start to move forward again. We love our countries, and we are built to make life better. Keep the faith and as always…

Stay Strong!

J. Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.