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Tamaya Resources Limited (ASX:TMR)(PINK:TMAYF) To Increase Copper Production from Punitaqui Copper Mine In Chile - Investor Update
Sydney, May 7, 2008 (ABN Newswire) - Tamaya Resources Limited (ASX:TMR)(PINK:TMAYF) May Investor Update has confirmed that the Company's focus is now to deliver 3000 tpd on a sustainable basis from underground at the Punitaqui copper mine in Chile. The Company has commenced planning to mine 4000 tpd from a combination of underground and open pit ore sources, supported by recent exploration discoveries in the region. In other initiatives, the Company's business improvement program is underway and will targeting costs across the Chilean operations. Tamaya has also commenced implementation of a revised mine plan in order to access higher grade zones and expects to see positive results in the second half of the year from a review the Company has commissioned to improve recoveries. Chairman Hugh Callaghan said that Improvements in the operations in Chile have provided a platform for the Company's overall plans for 2008 which include a prospective dual TSX listing and strategies to realise value form the Tamaya's portfolio of gold assets in Armenia and Portugal. For the Full Investor Presentation, please follow the link below: http://www.tamayaresources.com/show_news.php?id=49
About TAMAYA RESOURCES LIMITED
Tamaya Resources Limited, formerly SMC Gold Limited, is involved in the activities of gold and copper mining, and mineral exploration. The Company’s controlled investments include Rishton Gold Pty Ltd, which is engaged in administration; SMC Gold Chile Limitada, which is a holding entity; Punitaqui Pty Ltd, which is engaged in mining of copper; Compania Minera Tamaya SCM, which is engaged in mining of copper and gold; Compania Minera Punitaqui SCM and Compania Minera Los Mantos, both of which are engaged in mining of copper. In August 2007, the Company announced that it has concluded an agreement with Latitude Resources plc for the acquisition of an interest in Latitude's Chilean subsidiary, Latin American Copper Chile S.A.
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