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Zaruma Resources (ZMR) RSS Feed

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13
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Posts (Total)
76
Created
07/29/07
Type
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LATEST NEWS YOU FIND BELOW UNDER "WHAT IS NEXT" NEWS OUT on 13th of May !!!!! READ SEDAR FILINGS FOR THE STATUS AT MINE PROJECT !!!! Summary Copper Explorer that is going to commence production until end of 2008! With a hughe mountain of copper and having the biggest private trading company of metals in Switzerland named GLENCORE ( http://www.glencore.com ) for the financing, Zaruma Resources will rock during the next years. Actually Glencore confirmed the financing of 22.000.000 Dollars to finance the open pit production. Currently, Zaruma is discussing the financing of the last 8.000.000 with Glencore also. No dilution is expected. Additional drillings were done and added copper to the LDC (Luz del Cobre) deposit. 7 holes will be announced shortly. Together with these results they will calculate a new resource update which will result in an increase of life of mine Eresearch did an analysis of Zaruma and again announced ZMR as the stock of the week in April. Personally I own several million of shares from this company and I will support any movement of this company. I was personally in San Antonio, I know the CEO and I stay always in close contact. For me this is a very secure and good investment and I am "long and strong" with Zaruma! WHAT IS NEXT ? 1. drilling news from the last 7 holes within April (DONE) 2. PR about finance of the amount they still need (around 6 to 7 mio USD) 3. Update of Resources (DONE) 4. Increase of lifetime of the mine (DONE) 5. Going into production end of this year 6. Next results from the work at Sappho Verde N E W S Zaruma Resources: Adds more Copper Resources at Luz del Cobre and reports on First Quarter 2008 Results 13.05.2008 (all financial figures in US$) Toronto, Ontario, Canada. Zaruma Resources Inc., (TSX-ZMR), today reported on its activities for the three months ended March 31, 2008, and on additional copper resources adjacent to the Luz del Cobre copper project, (Sonora, Mexico). The quarterly Consolidated Financial Statements and Management’s Discussion and Analysis report have been filed on SEDAR and will be posted on the Company’s website, www.zaruma.com. In the immediate vicinity of Luz del Cobre, drilling completed at the end of February, 2008 identified an extension of the Luz del Cobre copper mineralization to the south, (“South”), and found extensive copper mineralization in a new discovery, “Calvario”, located 200 metres to the west of the planned Luz del Cobre pit. With data from 47 holes for a total of 4,309 metres drilled, Qualified Person and Independent Consultant Eugene Puritch, P.Eng. and Antoine Yassa, P.Geo, of P&E Mining Consultants Inc. of Brampton, Ontario estimated the additional resources at Calvario and Luz del Cobre South Extension, outside the planned Luz del Cobre pit to be: MEASURED INDICATED MEASURED & INFERRED INDICATED LOCATION TONNES Cu % TONNES Cu % TONNES Cu % TONNES Cu % Calvario Oxide 13,000 0.77 13,000 0.77 15,000 0.71 Calvario Mixed 240,000 0.80 240,000 0.80 109,000 0.64 South Oxide 17,000 0.80 17,000 0.80 1,000 0.61 South Mixed 45,000 1.00 238,000 0.80 283,000 0.83 3,000 0.71 Total 45,000 1.00 508,000 0.80 553,000 0.81 128,000 0.64 The estimate is for resources contained within optimized pit shells using current estimates of operating costs and the April 30, 2008, 24 month trailing average price of US$3.36 per pound of copper. The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum, (“CIM”), Standards on Mineral Resources and Reserves, Definitions and Guidelines, adopted by CIM Council on December 11, 2005. The drilling programme was under the supervision of Geologist James E. Poulter, the “Qualified Person” as defined in NI 43-101, and assays were prepared by Jacobs Assay Lab, Tucson, Arizona, from pulps prepared by Sonora Sample Preparations, Hermosillo, Mexico. At the south to southwest corner of the Luz del Cobre ore body, with proven and probable reserves of 4.3 million tonnes at 1% copper, the new resources are demonstrating continuation of mineralization along a north to south fault-bounded block from the southwest end of Luz del Cobre. The limits of the mineralization remain open to the south, with the southernmost drill line containing potentially mineable copper mineralization over a width of approximately 100 metres. The limits of the new copper resources at Calvario are still largely undefined. The near surface oxide and supergene sulphide copper mineralization appears to occur as a blanket-type body of varying thickness, with the deposit currently partially tested for about 200 metres along a northwesterly axis and an open ended width of at least 100 metres. The President and CEO of Zaruma, Thomas Utter, commented: ”We are pleased that our very first programme to find more ore-grade copper close to Luz del Cobre has, in a relatively short time period, added 15% more mineral resource tonnes to be processed by the Luz del Cobre plant currently under construction. At both locations, the copper mineralization is open-ended and will be subject to more drilling in the future”. Activity in the first quarter of 2008 was concentrated on the construction of the Luz del Cobre copper project. Approximately 50% of the total capital cost has either been incurred or contracted for the supply of equipment, construction materials and services. Capital costs are exceeding the amount included in the 2006 feasibility study, and are currently expected to be approximate $32 million. The sensitivity studies for the project demonstrate that the economic viability of the project is not particularly sensitive to capital costs. Costs incurred on the Luz del Cobre project in the first quarter totaled $3.7 million, including $538,000 on the above ore expansion programme. Exploration and evaluation costs written off were $127,000 for the three months, compared to $392,000 in the first quarter of 2007. Net loss for the quarter was $341,000 compared to $392,000 in the first quarter of 2007. Of the $23.5 million long-term financing, $5.2 million had been drawn at March 31, 2008 and $10.6 million by May 12, 2008. Zaruma Resources Inc. is listed on The Toronto and Frankfurt Stock Exchanges, (symbol: ZMR). Common shares outstanding on May 12, 2008: 116,763,747. This News Release contains forward-looking statements which are typically preceded by, followed by or including the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions, including securing additional funding to continue its development programmes. Please read the SEDAR ( http://www.sedar.com ) filings from Zaruma!!! You will find an annual and quarterly report just updated. And here you can find, what analysts say about Zaruma: eResearch http://www.eresearch.ca AGAIN, STOCK OF THE WEEK!!! If you need a german-written board: http://aktien.wallstreet-online.de/18072.html You can find Zaruma also on Stockhouse: http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=ZMR&t=LIST Positive factors of influence : 1. Copper prices increasing. If copper steady over 4 USD NPV should be over 0.70 CAD 2. Glencore is the financial partner and is the biggest Oil and metal trader worldwide 3. Glencore has spent one year in its own DD on Zaruma 4. They found more copper on another consession named Sappho Verde 5. Three news coming shortly. One will increase lifetime of mine 6. Experienced proven company which builds the mine 7. Experienced proven Director who supervises the activities 8. Mexico is a stable country 9. Mexico supports mining companies 10 Zaruma is placed in a mining district with well trained miners 11 spareparts only 2 hours away in a very big mining supply area 12 stable share structure; no more capital is needed by a PP Negative factors of influence : 1. Costs for construction of mine increased to 30 mio USD 2. Not enough electricity from public cables so diesel engines have to be installed 3. DUNNO..... if anyone sees more please mail me i gonna add it And, much more important: 5 Year-Copper Contacts Zaruma Resources Inc. 20 Toronto Street, 12th Floor Toronto ON, M5C 2B8 Canada Fax: (416) 367 3638 info@zaruma.com http://www.zaruma.com/ Dr. Thomas Utter President and CEO Tel.: (416) 777 1781 thomas.utter@zaruma.com Frank van de Water CFO and Secretary Tel.: (416) 869 0772 fvandewater@on.aibn.com
Ticker_Symbol        ZMR
Cusip Number         98914P104
Wertpapierkennummber 886597
Frankfurt            ZMR.F
Munich               ZMR.MU
Berlin               ZMR.BE
Electronic_XTRA      ZMR.D
Share Transfer Agent Computershare Investment Services, Vancouver, BC, Canada Number of Shares Outstanding: 109,256,578 (124 million fully diluted) Warrants : 8,025,927 (less has to be updated) Options : 5,525,000 (less has to be updated) Directors and Executive Officers (* Independent Directors) Prof. Dr. Thomas F. Utter (Bad Vilbel, Germany) President and Chief Executive Officer Frank van de Water (Toronto, Canada) Chief Financial Officer Prof. Dr. Peter Lorange (Lausanne, Switzerland)* Michael Power (Toronto, Canada)* Mike Richings (Denver, USA)* Officers Prof. Dr. Richard Viljoen (Parktown, South Africa) Vice President Exploration Managers of Subsidiaries Alfredo Barraza (Hermosillo, Mexico) Minerales Libertad CV. De CA
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