Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Tanzanian Royalty Exploration Is An Excellent Short Candidate

This article is about Tanzanian Royalty Exploration (NYSEMKT:TRX). Tanzanian Royalty Exploration has a market capitalization of just over $370 million. It owns several exploration projects in Tanzania, most notably 55% of the Buckreef property. While many African gold miners have lagged, Tanzanian Royalty Exploration has been a favorite among investors, having increased in value over 1,400% over the past 12 years in Canadian Dollar terms (more so in U. S. Dollar equivalents!).

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Yet a sober analysis of the company's assets reveals a decidedly more bearish picture. Tanzanian Royalty Exploration has just 2.3 million ounces of attributable gold on three properties.

    Buckreef has 1.5 million ounces of attributable gold. This is the only project for which...
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