The following is an update on the Varun website at the end of December and is much better worded than anything TNR has released lately.
Varun has discovered unique reserves of Gold in Madagascar. This is the first time in the history of gold exploration in Madagascar that reserves of such quality have been proven out. According to the tests & report analysis by experts, it has been found that one Metric Tonne of the ore contains gold ranging between 9 - 16.5 gm, which is significantly high as per international standards & norms, where gold mineral mines have only 6 - 7 gm/Ton proposition.
Varun has an ongoing joint venture with Australia based Torian Resources NL (Previously known as Cluff Resources Pacific NL). The said JV runs for exploration and exploitation of Gold, Platinum and precious stones. VTI (Varun Torian International SARL) the SPV company, has been established to operate the said joint venture in Madagascar.
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