that may be. There is no intention to be arrogant because I own this stock since a long time and bought and buy more all time.
It is fact that I am the only shareholder who visited Zaruma personally before I placed a PP.
This is not the major board I post at Zaruma. Problem with this stock is that Mr. Utter, the CEO does not support the US market at Zaruma. He does not want to support ZMRAF
T.ZMR is a fully reporting Canadian listed company. You can read all filings on SEDAR. We just got the annual and quarterly filings in which you can read in details about everything.
Next step is that the new calculation for the mine went up to 30 million USD. As Glencore finance only part of it we miss some finance here. So this month we will hear how they do it. By loan, by PP or whatever. My idea is that Glencore will give a loan and the secure it by hedging small part of its future coper production.
Second thing is that we will get drilling news soon from the last 7 outstanding holes which shall be the better grade holes stated Mr. Utter.
Third is that they did tests with crushing to only 4 inch stones instead of 1 inch. These tests were very successful and will reduce the amount of acid they need
Fourth thing is that they got bad news from the electricity company that they dont get enough electricity to produce the copper cathodes. This will be solved by using diesel engines and oil. That will result in an increase from production costs from 0.90 USD to 1.0-1.3 USD. At actual copper prices it is no big issue.
Fifth is that Zaruma stated that they expect to go into production this year in November / December. That is a very big point, because we expected the production in Q1 2009 and now it seems we will be faster
Sixths is that they will calc a new resource estimation after the last drilling news are out. This will result in an increase of lifetime of the LDC mine. This can be expected in first part of may.
Eights is that we will get new pictures on the HP soon from the next steps of mine building.
This is an open pit leaching and electrlysis winning copper mine then. Ramp up is NOT like gold mines. If they produce they produce....
I am invested with my family friends and myself controlling over 16 million shares now. Biggest holding from one person in that group is my girlfriend with over 4 million shares and myself with "some"
We have outstanding warrants at 0.16 CAD which are not excecuted to far but will be. I will not sell anything to buy it because the cash is already on an accont for that.
In case there will be any PP I will tyr to be part of that again.
The riscs in this investment are very low ... biggest point for me is that such a company named GLENCORE invested and supports Zaruma ... and I guess they will finance the rest soon. I expect no more dilution and even if there is any PP I will try to get most of it.
Zaruma is not a play for me, over 90% of all my money is invested in Zaruma. This is my life insurance.
IMO the PPS will be over 30 after drilling news, over 40 after increase of lifetime of mine and rest of missing money is financed.
The more we near production we will run upto 1 CAD depending the copper price.
If there are any questions feel free to ask them here. I guess most of it I can answer. And if not I can talk to the CEO and get the answers.
Have a nice WE
