This article is about Tanzanian Royalty Exploration (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!).
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
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