Tamaya changes ASX 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.