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PERTH, Aug 1 Asia Pulse - Spinifex Gold (ASX:SPX) yesterday said it will lift the level of activity in its three Tanzanian gold projects.
The Perth-based explorer, which is listed on the Australian and German stock exchanges, said its expansion plans were prompted by brighter gold sentiment, interest from European investors and a new capital structure.
"We are in the best condition ever over the past four years and are now ready to capitalise on our African gold assets," exploration director Klaus Eckhof said.
Through its 100 per cent owned subsidiary, East Africa Mines Ltd, Spinifex controls around 600 square kilometres of ground in Tanzania and a two million ounce resource.
It has offices in the nation's capital Dar Es Salaam and Mwanza in the centre of the Lake Victoria Goldfields.
Mr Eckhof said Spinifex was attracting increasing interest in its African assets because of the legal complexities and difficulties associated with gold exploration in Australia.
"It has just become too hard to ...
Source: HighBeam Research, AUSTRALIA'S SPINIFEX GOLD TO BOOST ACTIVITY IN TANZANIA PROJECTS.