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Category: Junior: Late Stage Developer
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Tanzanian Gold Corp.
www: www.tangoldcorp.com     email: investors@tangoldcorp.com

Profile
Notes
Forum
Your Data

Symbol Data

Symbol Currency
NYSEAMERICAN:TRX USD
TSE:TNX CAD

Description

Tanzanian Gold Corp. are a gold focused junior, late stage development company with one mine in development in Tanzania and exploration properties. They have approximately 2.2Moz. of gold in the reserves and resources category of which 1.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$126.77M which is a rise of roughly 21% over the last three months. As of 06/03/2019 they have ~C$5M debt and ~C$1.5M cash. They have 140M shares outstanding and trade on the Toronto Stock Exchange.

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General Details

Financial 06/03/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $105.11M $126.77M 06/03/2019 $21.66M
Total Assets: $40.08M $40.61M 06/03/2019 $0.54M
Total Liabilities: $13.36M $13.54M 06/03/2019 $0.18M
Current Assets: $1.48M $1.50M 06/03/2019 $0.02M
Current Liabilities: $8.91M $9.02M 06/03/2019 $0.12M
Total Debt: $5.05M $5.11M 06/03/2019 $0.07M
Cash: $1.48M $1.50M 06/03/2019 $0.02M
Enterprise Value: $108.67M $130.38M 02/17/1974 $21.71M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: Yes Yes 06/03/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 06/03/2019 0.00%
Misc 06/03/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 140,000,000 140,000,000 06/03/2019 0
Shares (FD): 152,000,000 152,000,000 06/03/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2021 06/03/2019 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
06/03/2019 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
06/03/2019 0
Initial CapEx (Outstanding): $76.00M
72.31% of Mkt.Cap
$76.00M
59.95% of Mkt.Cap
06/03/2019 $0.00M
Funding Option: n/a n/a 06/03/2019 n/a
Documentation: none PFS 06/03/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 06/03/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.00M 1.00M 06/03/2019 0.00M
Measured & Indicated: 1.50M 1.50M 06/03/2019 0.00M
Inferred: 0.70M 0.70M 06/03/2019 0.00M
Reserves & Resources: 2.20M 2.20M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 0.85M 0.85M 06/03/2019 0.00M
Measured & Indicated: 1.19M 1.19M 06/03/2019 0.00M
Inferred: 0.30M 0.30M 06/03/2019 0.00M
Reserves & Resources: 1.49M 1.49M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 06/03/2019 $0.00
Extra Operating Cost: n/a n/a 06/03/2019 $0.00
Average Grade: 1.50 g/t 1.50 g/t 06/03/2019 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 06/03/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 06/03/2019 0.00M
Annual Production: 80,000oz. 80,000oz. 06/03/2019 0oz.
Cash Cost: $750 $750 06/03/2019 $0
Extra Operating Cost: $400 $400 06/03/2019 $0
SILVER 06/03/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 06/03/2019 0.00M
Measured & Indicated: n/a n/a 06/03/2019 0.00M
Inferred: n/a n/a 06/03/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 06/03/2019 0.00M
Measured & Indicated: n/a n/a 06/03/2019 0.00M
Inferred: n/a n/a 06/03/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 06/03/2019 $0.00
Extra Operating Cost: n/a n/a 06/03/2019 $0.00
Average Grade: n/a n/a 06/03/2019 n/a
Recovery Rate: n/a n/a 06/03/2019 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 06/03/2019 0.00M
Annual Production: n/a n/a 06/03/2019 n/a
Cash Cost: n/a n/a 06/03/2019 n/a
Extra Operating Cost: n/a n/a 06/03/2019 n/a

Property

Last Analysis Data  (06/03/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Mwanza, Tanzania Buckreef 55% (guess) 10,000 Open Pit show
In 2013 they will complete the feasibility study and attempt to get financing. The PEA calls for 100,000 oz of production for 12 years, which will expand with exploration. Cash costs around $850. I would expect production in 2015.
Exploration Mwanza, Tanzania Itetemia 90% n/a n/a show
In their 5 year production plans.
Exploration Tanzania Kibara 100% n/a n/a n/a
Exploration Tanzania Kigosi 85% 900 Open Pit show
Part of their 5 year production plans.
Exploration Mwanza, Tanzania Luhala 100% n/a n/a n/a
Exploration Tanzania Lunguya 50% n/a n/a n/a
Exploration Tanzania Tembo 100% (guess) n/a Open Pit show
Part of their 5 year production plans.
Exploration Lake Victoria Goldfields, Tanzania Ushirombo 100% n/a n/a n/a
Total Land Package Size (ha): 10,900  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Mwanza, Tanzania Buckreef 55% (guess) 10,000 Open Pit show
In 2013 they will complete the feasibility study and attempt to get financing. The PEA calls for 100,000 oz of production for 12 years, which will expand with exploration. Cash costs around $850. I would expect production in 2015.
Exploration Mwanza, Tanzania Itetemia 90% n/a n/a show
In their 5 year production plans.
Exploration Tanzania Kibara 100% n/a n/a n/a
Exploration Tanzania Kigosi 85% 900 Open Pit show
Part of their 5 year production plans.
Exploration Mwanza, Tanzania Luhala 100% n/a n/a n/a
Exploration Tanzania Lunguya 50% n/a n/a n/a
Exploration Tanzania Tembo 100% (guess) n/a Open Pit show
Part of their 5 year production plans.
Exploration Lake Victoria Goldfields, Tanzania Ushirombo 100% n/a n/a n/a
Total Land Package Size (ha): 10,900  

Profitability (by resource)

Proven &
Probable
06/03/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.00M 1.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.30M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.85M 0.85M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.11M
Maximum Profit (Gold): $103.29M $212.65M n/a $109.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $103.29M $212.65M n/a $109.36M
Max Profit / Current MCap: 0.983 1.677 n/a 0.695
Max Profit Per Share (Gold): $0.68 $1.40 n/a $0.72
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.68 $1.40 n/a $0.72
Total Free Profit Per Share: $0.00 $0.57 n/a $0.57
FD Mkt. Cap / Gold Eq.: $123.66 $149.14 n/a $25.48
FD Mkt. Cap / Silver Eq.: $1.38 $1.68 n/a $0.31
FD Mkt. Cap / Per Metal
as % Spot Price:
9.34% 9.89% n/a 0.55%
Measured &
Indicated
06/03/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.50M 1.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -1.95M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.19M 1.19M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.55M
Maximum Profit (Gold): $144.61M $297.71M n/a $153.11M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $144.61M $297.71M n/a $153.11M
Max Profit / Current MCap: 1.376 2.348 n/a 0.973
Max Profit Per Share (Gold): $0.95 $1.96 n/a $1.01
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.95 $1.96 n/a $1.01
Total Free Profit Per Share: $0.26 $1.12 n/a $0.86
FD Mkt. Cap / Gold Eq.: $88.33 $106.53 n/a $18.20
FD Mkt. Cap / Silver Eq.: $0.98 $1.20 n/a $0.22
FD Mkt. Cap / Per Metal
as % Spot Price:
6.67% 7.07% n/a 0.39%

Reserves &
Resources
06/03/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.20M 2.20M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -2.86M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.49M 1.49M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -1.93M
Maximum Profit (Gold): $180.76M $372.14M n/a $191.38M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $180.76M $372.14M n/a $191.38M
Max Profit / Current MCap: 1.720 2.936 n/a 1.216
Max Profit Per Share (Gold): $1.19 $2.45 n/a $1.26
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.19 $2.45 n/a $1.26
Total Free Profit Per Share: $0.50 $1.61 n/a $1.12
FD Mkt. Cap / Gold Eq.: $70.66 $85.22 n/a $14.56
FD Mkt. Cap / Silver Eq.: $0.79 $0.96 n/a $0.18
FD Mkt. Cap / Per Metal
as % Spot Price:
5.34% 5.65% n/a 0.32%

Future Valuation (Cash Flow & Totals)

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