Member Company Profile

Tanzanian Gold Corporation

TRX|Last Price: USD 0.48|Market Cap: USD 122.20 M

USD 0.36        USD 1.91


Gold Price: $1,797.35|Silver Price: $24.40|Platinum Price: $1,046.00|Palladium Price: $2,035.00|Gold:Silver: 73.7


Explorer & Developer Forum 2021

  Live Session|September 14, 2021, 9:50 AM (MDT)|Presenter: Stephen Mullowney, Chief Executive Officer


Status: Explorer|Primary Mineral: Gold|Primary Country of Operation: Tanzania


Last Updated: August 19, 2021

  Print Profile

IR Contact

Michael Martin
8443641830
[email protected]
www.tangoldcorp.com

Address

Suite 200, 150 King Street West
Toronto, ON M5H 1J9
Canada

Cautionary Information

© Copyright 2021, Denver Gold Group & Tanzanian Gold Corporation.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.

Safe Harbor Statement

Read

Tanzanian Gold Corporation along with its joint venture partner, STAMICO is building a significant gold project at
Buckreef in Tanzania that is based on an expanded Mineral Resource base and the treatment of its mineable
Mineral Reserves in two standalone plants. Measured Mineral Resource now stands at 19.98MT at 1.99g/t gold
containing 1,281,161 ounces of gold and Indicated Mineral Resource now stand at 15.89MT at 1.48g/t gold
containing 755,119 ounces of gold for a combined tonnage of 35.88MT at 1.77g/t gold containing 2,036,280 ounces
of gold. The Buckreef Project also contains an Inferred Mineral Resource of 17.8MT at 1.11g/t gold for contained
gold of 635,540 ounces of gold. The Company is actively investigating and assessing multiple exploration targets on
its property. Please refer to the Company’s Updated Mineral Resources Estimate for Buckreef Gold Project, dated
May 15, 2020, for more information.
Tanzanian Gold Corporation is advancing on three value-creation tracks:
1. Strengthening its balance sheet by expanding near-term production to 15,000 - 20,000 oz. of gold per year from the
processing of oxide material from an expanded oxide plant.
2. Advancing the Final Feasibility Study for a stand-alone sulphide treating plant that is substantially larger than
previously modelled and targeting significant annual gold production.
3. Continuing with a drilling program to further test the potential of its property, Exploration Targets and Mineral
Resource base by: (i) identifying new prospects; (ii) drilling new oxide/sulphide targets; (iii) infill drilling to upgrade
Mineral Resources currently in the Inferred category; and (iv) a step-out drilling program in the Northeast
Extension.

Corporate Materials
Value Drivers
  • Expanding Production. TanGold has successfully operated a 5tph oxide test plant for over one year. With the experience and the data collected from this operation, the company plans to expand the size of the test plant to a 15 tph rate capable of producing an average of 750 ounces of gold per month for the first 18 months, beginning in September/October 2021 (please see July 15th Press Release on our website -www.tangoldcorp.com). Cash flow from this increased test plant production will enable reinvestment in the business and fund exploration, drilling and capital expenditures at Buckreef. Simultaneously, TanGold has begun its plan to increase oxide production further by expanding plant capacity to 40 tph, which is expected to produce gold at a rate 15,000 - 20,000 oz./yr. beginning in approximately 12 months., This expanded oxide production is a key value driver for TanGold beginning in the near term.
  • Advancing Development. The company has announced updated and highly favorable metallurgical results from the sulphide component of the Buckreef Mineral Resource, which stands at 2.036 million ounces M&I and 635,000 ounces Inferred. Sulphide ore represents approximately 93 % of the deposit. Initial test work conducted by SGSL is now complete. Details of the test work are summarized in the company’s July 15th Press Release of Q3 results, and discussion of the test work begins on page 24 of the MD&A (website - www.tangoldcorp.com) and suggests a straightforward flowsheet which sets the foundation for a final feasibility on the sulphide project. The ongoing feasibility study for the larger scale sulphide project is expected to be an important value driver for TanGold over the next 12 months.
  • Accelerating Exploration. The Buckreef Project has tremendous exploration potential. TanGold continues to evaluate and identify opportunities for the discovery of additional mineral resources and their conversion to mineral reserves. The recent discovery of Buckreef West and the Anfield Zone further expands this potential. Details regarding these important discoveries are summarized in the company’s July 15th Press Release of Q3 results, and in the MD&A (website - www.tangoldcorp.com). The company is currently evaluating these discoveries along with exploration potential in the Main Zone which remains open along strike and at depth. Targets are being delineated and drilling is expected to commence in the upcoming months. The significant amount of exploration potential at Buckreef provides a substantial value driver for the company over time.
Top Shareholders
  • N/A
  • N/A
  • N/A
Management
Chairman: James E. Sinclair
CEO: Stephen Mullowney
CFO: Michael Leonard
COO: Andrew Cheatle
Senior VP Tanzania: Khalaf Rashid
Head of Investor Relations: Michael Martin
More Detail
Capital Structure
Common Shares Outstanding: 254,900,000
Warrants Outstanding: 23,700,000
Options Outstanding: 7,400,000
Fully Diluted Shares: 286,000,000

IR Contact

Michael Martin
8443641830
[email protected]
www.tangoldcorp.com

Address

Suite 200, 150 King Street West
Toronto, ON M5H 1J9
Canada

Cautionary Information

© Copyright 2021, Denver Gold Group & Tanzanian Gold Corporation.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use.

Safe Harbor Statement

Read