Shares of Canadian mining company Tanzanian Royalty Exploration (TRX | CA:TNX) are plumbing the depths of despair as CEO, Jim Sinclair of JS Mineset fights for the company's very survival.
Jim Sinclair has stated that TRX may be sitting on one of the larger gold deposits you may find. He also says that it is possible that certain people may be trying to "claim jump" in a modern way by attacking the company's stock price as well as having local government officials encouraging "artisan" miners to overrun the company's properties and making unreasonable demands and ultimatums that are not in the contract with the state goverment mining body called Stamico.
This has led to the CEO, Jim Sinclair, Declaring "Force Majeure" and possibly leading the company and the State Mining Company of Tanzania to an international arbitration.
Meanwhile, TRX shares closed today at $0.25 per share (USD) thus putting a market value on the company of approximately 25 to 30 million dollars as calculated in my mind and not an official number (although I think it is close).
Here is a long term chart showing the share price of TRX:
Jim Sinclair has stated that TRX may be sitting on one of the larger gold deposits you may find. He also says that it is possible that certain people may be trying to "claim jump" in a modern way by attacking the company's stock price as well as having local government officials encouraging "artisan" miners to overrun the company's properties and making unreasonable demands and ultimatums that are not in the contract with the state goverment mining body called Stamico.
This has led to the CEO, Jim Sinclair, Declaring "Force Majeure" and possibly leading the company and the State Mining Company of Tanzania to an international arbitration.
Meanwhile, TRX shares closed today at $0.25 per share (USD) thus putting a market value on the company of approximately 25 to 30 million dollars as calculated in my mind and not an official number (although I think it is close).
Here is a long term chart showing the share price of TRX:
Tanzanian Royalty Exploration Long Term Chart
The stock has traded higher than $7.00 per share more than once over the past ten years, but you can see how it has collapsed in price over the past couple of years.
I own shares in TRX and have lost more than half of my money invested so far. I bought more around $0.32 per share and I am showing a loss on that as well.
Good luck to any and all of us that are long this stock as currently it is being priced as though it may just go out of business.
