Tanzanian Gold secures US$14m financing to expand Buckreef plant as gold prices hit a new high in the world market.

TANZANIA – Tanzanian Gold Corporation has secured U$14 million (TSh32.5bn) flexible financing agreement from RiverFort Global Capital Limited and Yorkville Advisors in a major boost to increase gold production at Geita based Buckreef Mine. In a statement, TGC’s Executive Chairman, James Sinclair said the financing will be structured in two tranches of which U$7 million will be advanced between close and the filing of a registration statement with the US Securities Exchange Commission while the remaining U$7 million will be advanced over time upon reaching certain milestones. “The past 18…

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