Opinion on  Tanzanian Royalty Exploration Corp (TRE)     Sector: Basic Materials  >  Industry: Gold & Silver
Tanzanian Royalty Exploration Corp

Tanzanian Royalty Exploration Corporation engages in the acquisition and exploration of natural resource properties with a focus on gold properties in Tanzania. The company holds interests in various properties, including the Itetemia property, which consists of 8 prospecting licenses covering approximately 79 square kilometers; the Luhala property that comprises 6 prospecting licenses covering an area of approximately 74 square kilometers; the Lunguya property, which consists of 10 prospecting licenses covering approximately 297 square kilometers; and the Tulawaka project that consists of 9 prospecting licenses covering approximately 206 square kilometers. Tanzanian Royalty Exploration also has interests in 136 mineral resource properties in the Lake Victoria Greenstone Belt and Kabanga/Kagera Nickel Belt regions. In addition, it has royalty agreements with three industry partners covering 17 prospecting licences, including 1 prospecting licence under agreement with Barrick Gold Corporation; 5 prospecting licenses with MDN, Inc.; and 11 with Sloane Developments, Inc. Further, it has rights to acquire a 100% interest in the Ngobo and Sima prospecting licenses. The company was founded in 1990. It was formerly known as Tan Range Exploration Corporation in 1991 and changed its name to Tanzanian Royalty Exploration Corporation in 2006. The company is based in Surrey, Canada.

TRE last week as rumors again were of a big discovery to come. It did gain 10% for the week and on Friday just over its trend line and 50-day at $5.21. They did issue news but most of the run it seems was with the group as a whole.