The strength of Tara has always been the deal making that Rich has demonstrated. Initially the JV business model seemed to be working but produced few tangible results. Rich moved Tara Minerals towards a producing miner mode. I was always worried about that move, since there didn't appear to be a lot of production expertise within the company.
So far, the results have been mixed. Rich got us going on the cheap but sometimes you get what you pay for. Actual construction and production has been delayed many, many times. So far, the path to commercial production at even 100+tpd has been difficult.
Spreadsheets are a good tool for trying to get a fix on future potential but few of the projections have been anywhere accurate in terms of timeframe and actual results. Who would have thought last fall that we would be towards the end of Q1 2010 and still stuck at 100tpd or less? The initial expectations of $1,000/ton have moved to a much lower $200/ton and we still don't have verification that we can produce at those levels.
The big plus? TARM.ob share price has quadrupled+ from the PP price. Trgd.pk has rebounded from the huge fall from the 1.40 peak to .08 and back to today's .589. Both are in the green for many/most longer term investors.
Somehow Rich has convinced many investors that the potential is very high for Don Ramon and surrounds. Time will tell whether all the optimism was warranted but the reality for most investors is the share price. And on that count, Rich has delivered.
I just wish the production part was easier and smoother. Mining is TOUGH!
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