Selective provision of TRGD news releases .Hmm.
Now a sincere search of the TRGD site would have revealed the detail you alledgedly seek.You forget,TRGD had debts prior to the sale of PZG.
"CHICAGO, June 1, 2009 (MARKETWIRE) – (Other OTC: TRGD.PK and Frankfurt: T8N) Tara Gold Resources Corp. announces that it has monetized its Paramount Gold and Silver Corp. equity holdings. A portion of the holdings were used to acquire 2,147,000 shares of Tara Minerals Corp. common stock held by investors, a portion was used to pay off existing loans, and the remainder was sold to investors.
On October 2, 2008, Tara Gold closed the sale of its remaining San Miguel project interest to Paramount Gold and Silver Corp. for common shares of Paramount. With this divestiture, Tara Gold no longer holds a majority interest in Paramount.
With this sale, Tara Gold has strengthened its holdings in Tara Minerals Corp., eliminated its long term debt, and has set aside $4.5 million for working capital.
Mr. Francis Biscan Jr., President of Tara Gold Resources Corp., stated, "Without diluting our shareholders, we now have a strong cash position which will be used to advance our priority projects, including the commencement of full scale mining and production start-up at Don Ramon."
Survival through the extremely difficult 2008 is a feat,more so if you consider,we still hold our best properties.Freehold high quality properties.And do look at the calibre of our production staff.They have clearly not joined TARM to get cheques for a month or two.They want in on a serious mining venture with considerable expansion possibilities.
Sure,the sincere shareholders here want to see production occurring but do not think 300-400 tons a day is the medium term TARM target.TARM is no one hit miner.
AI
