Tamaya changes ASX status

20 October 2007 | 05:19 Code : 15681 Geoscience events
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Tamaya Resources Ltd has received approval from the ASX to change its status....

  Tamaya Resources Ltd has received approval from the ASX to change its status from a Mining Exploring Entity to a Mining Producing Entity.The change recognises Tamaya’s position as a copper producer, and requires the Group to comply with tighter schedules for its financial reporting as a producer. Over the past twelve months, Tamaya has moved from being a single copper mine operation to becoming a group with a global portfolio that comprises a producing copper mine in Chile, a gold mine near-production in Armenia, and a number of copper and gold exploration tenements in four countries (Chile, Armenia, Portugal and Australia), including advanced gold exploration and tungsten projects in Portugal. As a result of recent acquisitions, Tamaya has also increased its copper resource to over 300,000 tonnes (150%), and now has a significant gold resource of approximately 1.74 million oz gold for its assets in Armenia and Portugal. Some of the copper projects contain significant by-product iron. Executive Chairman Hugh Callaghan said that the MPE status was appropriate given the Group’s increasing production base and extensive project pipeline.

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