Zaruma Resources (ZMR)

[wrkmq]

In the middle of 2006, when CCU commenced production., they have had 150.000.000 shares at 2.85 CAD!

- They have had grades much lower than we have seen in the drilling-results from Zaruma.
- They have singed very bad contracts (that killed CCU) instead of a one-year refund-contract ZMR signed with Glencore.

- They produced 19 Million pounds in the first year; ZMR is going to produce 72 million pounds over five years (this is going to be increased).

CCU has had a market-cap of about 430 Million when they started a mine with very poor paramters.



So, why should ZMR stay at 1 CAD (120.000.000 market-cap) when they start production in 7 months?????



I do see much higher prices



Michael