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TRX Gold Ord Shs T.TRX

Alternate Symbol(s):  TRX

TRX Gold Corporation is a Canada-based company, which is advancing the Buckreef Gold Project. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Anfield, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones: Buckreef South, Buckreef Main and Buckreef North. The Company produces gold at its 1,000 tons per day processing plant. Its gold development operations include the Sulphide Development Project, in which the sulphide ore encompasses over 90% of the Buckreef Main Zone's two-million-ounce gold measured and indicated mineral resources. The Buckreef Project hosts an NI 43-101 measured and indicated mineral resource of over 35.88 million tons (MT) at 1.77 grams per ton (g/t) gold containing 2,036,280 ounces of gold and an inferred mineral resource of 17.8 MT at 1.11 g/t gold for 635,540 ounces of gold.


TSX:TRX - Post by User

Bullboard Posts
Comment by drew17on May 04, 2006 1:16pm
289 Views
Post# 10791398

RE: Another $ 1,000,000. from J.S.

RE: Another $ 1,000,000. from J.S.Okay thanks. I think I get what you were getting at. From the NR it also read "Mr. Sinclair has agreed to purchase 107,124 common shares at a purchase price of C$9.335 per share for proceeds totaling C$1,000,000. The price reflects the weighted average trading price of the Company's shares for the five consecutive trading days ended May 1, 2006." They last sentence is the key here as it explains how they arrived at the price. As for, "So wouldn't TNX have to trade at that price?" Well, there are various reasons for people to buy and sell and a higher P.P. price may not influence them in any way. It does show to the shareholders that J.S. continues to put up his own money to move the company forward with its' business plan with a minimal amount of dilution. I am a believer in this stock and I look forward to the next few years. Cheers.
Bullboard Posts