CDSG ADDS GOLD PROJECT IN TANZANIA [Yahoo! Finance]
Costco Wholesale Corporation (COST)
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Source: Yahoo! Finance
announce CDSG has entered into a co-production agreement with an individual based in Tanzania to recover gold from a large alluvial gold field within the active Nachingwea District, Lindi Region of southern Tanzania. Harp Sangha, Chairman of CDSG states, “This additional project is a further step towards our strategy of acquiring non-exploration, near-term low-cost gold producing projects; to bring robust cash flow into the company. Our local geologic team has visited the Mkuvia project site on several occasions and a production plan and budget is currently being drafted. I first visited this site in Spring 2008 when it was acquired for $1 Million and in excess of $4 Million was spent on exploration and the commissioning of the NI 43-101. The project was dropped in 2011 by the entity at the time and has been under care and maintenance by our people on the ground.” Management is pleased to see a resurgence in gold demand by central banks, portfolio managers, and retail investors as
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