I agree the legislative changes are a blow to current producers and if Tanga ever becomes a producer it will affect profitability.
But the fact is TRL is a spec stock and it's always been priced as such, this changes very little, If they find more gold and can get a commmercially viable mine up and running then we're in a totally different price range anyway regardless of this 16% or not.
Plus if projects aren't viable due to this levy the government will just look at it and do something fairer, mining is 3.5% of GDP, maybe they think with the amount going on it should be contributing more but they certainly don't want it to be 0% of GDP and everyone operating elsewhere.
Just IMO, I am not a Tanzanian govt official.
Sentiment changed to buy at these prices.
Wrote this out yesterday and decided not to post it until my cheeky 500k @ 1.1c order had been chomped. You can have it now though folks…
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Last
11.5¢ |
Change
0.005(4.55%) |
Mkt cap ! $131.1M |
Open | High | Low | Value | Volume |
11.5¢ | 11.5¢ | 11.0¢ | $12.08K | 109.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 264461 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.5¢ | 650541 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 264461 | 0.110 |
3 | 231240 | 0.105 |
6 | 543076 | 0.100 |
2 | 330313 | 0.099 |
1 | 50000 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.115 | 650541 | 5 |
0.120 | 401659 | 9 |
0.125 | 101052 | 2 |
0.130 | 152039 | 4 |
0.140 | 131428 | 2 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
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