Casey says Africa gold play a buy
Tan Range Exploration Corp TNX
Shares issued 32,181,633 Jan 12 close $0.90
Tue 13 Jan 98 In the News
Doug Casey, writing in the February issue of International Speculator, says
Tan Range Exploration is a buy at $0.90. Mr Casey says TNX came to his
attention following drill results at its Golden Horseshoe property in
central Tanzania, directly adjacent to Sutton Resource's 6.4-million ounce
Bulyanhulu deposit. Mr Casey, a gold bug unperturbed by bullion's savaging
in recent months, is upeat that Tan Range has hit "meaningful" widths and
grade on 13 diamond-drill holes. "Fairly spectacular results," writes the
man on the cover of Agora Publishing's November promotional item "How to
Profit from the Coming Gold Rush". To date, the market doesn't appear to
agree on the gold rush or Tan Range, the latter having remained flat at
around $1 for most of the past year; even these recent encouraging results
failed to move the stock north. Tan Range, with properties in a number of
other African countries, has $1.5 million in cash and 39 million shares
out. "The company stacks up as being cheap both absolutely and relatively,"
he states. |
