Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold or the Company) today announced results for the second quarter of 2021 (“Q2 2021”). Financial results for Q2 2021 will be available on the Company’s website and will be filed on SEDAR and provided on EDGAR on or before April 14, 2021. All figures are in Canadian dollars unless otherwise expressed.
Highlights Overview
- Raised USD $24.4 million significantly improving net working capital, liquidity and corporate position in Tanzania
- Strong additions to senior management team and alignment of operating management at Buckreef
- Working with Stamico (Government of Tanzania) to advance the Buckreef Project and modernizing the joint venture agreement
- Positive operating results on oxide test plant to build larger oxide operation targeting production of 15,000 – 20,000 ounces of gold per year
- Positive metallurgical test results, now moving to variability metallurgical testing of the first 5- 7 years of production
Stephen Mullowney, Chief Executive Officer of TanGold stated: The first 120 days of my tenure have been exhilarating. I am extremely excited with all the improvements we have made across the entire business. Please enjoy reading about some of our accomplishments below. We believe that the work done to date and the work ahead of us positions the Company for continued success over the short, medium and long term. This is an exciting time! I would like to congratulate everyone involved on a job well done and look forward to working closely with the TanGold team, the Buckreef team and our joint venture partner, Stamico, to continue to advance the development of the Buckreef Project to become a major new mine in Tanzania.”
