Replies to post #23349 on VIPR Industries Inc (fka VIPR)

[MajorBread]

excellent point

[Fairly_New]

An interesting read -- I was just looking around to see what has sold in Tanzania for gold claims and came across this from a year ago

http://www.miningweekly.com/article/sub-sahara-resources-completes-sale-of-tanzania-gold-assets-2009-02-27

Sub-Sahara Resources completes sale of Tanzania gold assets
0 COMMENTS | ADD A COMMENT PRINT
EMAIL |

By: Esmarie Swanepoel
27th February 2009
TEXT SIZE JOHANNESBURG (miningweekly.com) – Australian gold producer Sub-Sahara Resources (SBS) on Friday executed a formal sale agreement with Western Metals for its gold exploration projects in Tanzania.

The completion of the A$6,25-million transaction was scheduled to occur in the next few days.

Western Metals has now paid a total of A$250 000 to SBS, and on completion of the transaction would pay a further A$650 000. A further payment of A$100 000 would be paid subject to a preemptive right.

Upon the finalisation of the transaction, Western Metals would pay a further A$250 000 by the end of 2009, subject to the final liabilities of the target companies being determined.

Western Metals would pay a further A$5-million on the start of commercial production at the Nyanzaga gold project.

SBS would use the funds from this transaction to further advance the high-grade Koka gold deposit, in Eritrea, which contained an indicated and inferred resource of about 1,04-million tons, at a grading of 6,2 g/t gold.