Nice to know given SBS JV at Nyanzaga with Barrick.Back into...

Nice to know given SBS JV at Nyanzaga with Barrick.
Back into this ol fave of mine at 1.1c (first probe) looking for core build up these cash-backed levels over next 6 months. Hope they are prudent with OUR cash and let the JVers free carry mostly over next year. Zara/Koko looks a goer tho and shouldnt be too hard to develop it given the high grades and hence likley low cash costs. Also nice to see RSG has committed to free-carry to next level and some cash coming in over next few months from sale of one propsect. High reward / low risk likely survivor for mine for the coming third primary upwave in POG from probably mid 09 onwards.
IMBOOC


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Barrick Gold Tanzania: We stay put

2008-12-06 11:09:05
By Guardian Reporter


Barrick Gold Tanzania said yesterday it has been, and will remain, committed to the country and has no intention of halting or pulling out its operations.

In an immediate rejoinder to media reports to the contrary, a spokesperson of the giant firm with mining interests in different parts of the country said: ``We have no such intentions. Barrick Gold has invested over 1.5 billion US dollars in Tanzania. In fact, we have reached advanced construction stages of a new mine in Kahama, Shinyanga Region.``

``However, Barrick Vice President (Africa Region) Gareth Taylor and Barrick Gold believe that the current international turmoil forces it, like every other responsible business, to carefully examine its operations that are subjected to high cost, operating challenges and intensive capital requirement regardless of their jurisdiction,`` he added.

The spokesperson reiterated the company`s commitment to working constructively with the government ``to ensure that the country\'s mining laws and investment environment climate remain competitive so that Tanzanians continue to benefit from mining.``

On Friday, a cross section of the media in the country quoted Taylor as saying that the firm had for several years recorded declining profit and was considering pulling out.

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