tigray resources inc (TIG:Venture)
tigray resources inc (TIG) Snapshot
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Open
C$0.08
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Previous Close
C$0.09
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Day High
C$0.08
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Day Low
C$0.07
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52 Week High
10/5/12 - C$0.35
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52 Week Low
05/17/13 - C$0.07
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Market Cap
4.7M
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Average Volume 10 Days
28.0K
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EPS TTM
C$-0.16
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Shares Outstanding
71.6M
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EX-Date
--
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P/E TM
--
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Dividend
--
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Dividend Yield
--
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Related News
tigray resources inc (TIG) Related Businessweek News
No Related Businessweek News Foundtigray resources inc (TIG) Details
Tigray Resources Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Ethiopia. The company holds a 70% interest in the Harvest volcanogenic massive sulfide project, which consists of 6 exploration licenses covering an area of 362 square kilometers, located in the Tigray region of Ethiopia. It explores for copper and zinc-bearing sulfide, gold, and silver in its project. The company is based in Vancouver, Canada. Tigray Resources Inc. operates independently of Canaco Resources Inc. as of August 31, 2011.
Last Reported Date: 01/29/13
tigray resources inc (TIG) Top Compensated Officers
tigray resources inc (TIG) Key Developments
Tigray Resources Inc. announced the appointment of Peter Granata as Chief Financial Officer of the company. Mr. Granata has been Controller of Canaco Resources Inc. and Tigray since August 2011. Shannon Ross has resigned as Chief Financial Officer of the company, effective April 4, 2013.
Tigray Resources Inc. elected Jingbin Wang as director at its AGM.
Tigray Resources Inc. provided an update on exploration activities at its Harvest and Adyabo projects in northern Ethiopia. Updated surface targets include VTEM09 at Harvest and Mato Bula and Da Tambuk at Adyabo. Da Tambuk is an emerging gold target four kilometres northeast of Mato Bula. The proposed program includes 1,750 metres of drilling in nine diamond drill holes, with diamond drilling commencing in the near future. A diamond drill rig has been contracted and is currently being mobilized to site for testing advanced targets at both Harvest and Adyabo, including VTEM09 and Mato Bula. Assays from continuous channel sampling of 40-metre spaced trenches across the VTEM09 airborne electromagnetic (EM) anomaly on the Harvest project have yielded the following gold bearing intercepts, from northeast to southwest: Trench 02(1) - 10 metres at 3.85 grams per tonne gold, 26 grams per tonne silver, 0.84% copper and 0.67% lead, including 5 metres at 7.27 grams per tonne gold, 45 grams per tonne silver, 0.65% copper and 1.14% lead. This intercept is within a broad copper-rich zone averaging 74.85 metres at 0.43% copper and Trench 03 - 2 metres at 9.58 grams per tonne gold, 161 grams per tonne silver, 0.21% copper and 0.78% lead. True thickness estimated to be 70-80% of stated thickness. The VTEM09 airborne EM anomaly is located on the Terakimti concession approximately five kilometres east-northeast of Terakimti, and comprises a strong bedrock conductor over 200 metres in strike length hosting several malachite-rich gossan outcrops. Four trenches (up to 1.5 metres deep and 103 metres long) were completed over 160 metres of strike length in late 2012. Additional trench results await re-assay confirmation. Several sections of diamond drill holes have been planned to test the VTEM anomaly and gold-bearing gossans. A total of 100 holes totaling 19,800 metres were completed on the Terakimti, Adi Angoda and Mayshehagne prospects on the Harvest project. Additional drilling is proposed in 2013 to explore the depth extensions to these prospects, and test newly-defined VMS targets developed from the VTEM survey. Downhole EM will be completed at Terakimti and Mayshehagne to aid in further deep drill targeting.
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Industry Analysis
TIG
Industry Average
| Valuation | TIG | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | 0.3x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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