Dallas, Texas (August 10, 2011) – StockGuru Shines its Spotlight on Tara Minerals Corp. (OTCBB: TARM) (BERLIN:6T3). It was announced yesterday that the Company has entered into a Definitive Agreement for the start-up of the mine and mill operations at the Don Roman grouping located in the State of Sinaloa, Mexico. Carnegie Mining and Exploration, Inc. (CME) will invest $13 million to earn an undivided fifty percent (50%) interest in various high grade gold, silver, zinc, lead and iron ore concessions. The Company closed on August 8, 2011, at $1.99, trading on above average volume and in a fifty-two week range of $1.90 – 0.35.
A preliminary assessment report, complete by Hanlon Engineering & Architecture, Inc., verified numerous visible veins, assayed and confirmed the existence of high grade material, and estimated that the existing plant can be put back into production within a short time frame. All twelve visited concessions “showed significant geologic evidence of their continuity and the samples collected confirmed the metal assays.” It is expected that work needed to estimate the available tonnage will be carried out in parallel with the determination of the correct chemical and physical operating parameters for the start-up of production.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., commented, “Carnegie’s technical team recognizes the significant near-term revenue potential our project offers, combined with the large scale long term development potential of our holdings. With the definitive agreement now behind us, Carnegie can begin to mobilize its considerable technical and financial resources to meet an aggressive development time line. We look forward to working with them to extract revenue from our gold, silver, zinc, lead and iron ore projects.”
Under the option, CME can earn an undivided thirty percent (30%) interest by incurring a minimum of $2 million to start-up the existing Don Roman silver/zinc/lead mill and achieve a production rate of 120 tonnes per day within 120 days and incur another $6 million to achieve a production rate of 360 tonnes per day within 12 months. To increase its undivided interest to fifty percent (50%), CME will incur an additional minimum $5 million to achieve and maintain a minimum production rate not to be less than 600 tonnes per day, within twenty-four months. In addition, CME has a ninety day option to incur a minimum of $1 million, from the above investment targets, to earn an undivided fifty percent (50%) interest in Tara’s current and future iron ore projects within Mexico. CME will be the operator for all projects and net revenue will be shared equally.
The Company is also pleased to announce the appointment of Mr. David Barefoot to the position of Chief Operating Officer (“COO”). Over the last year, Mr. Barefoot has been an integral part of streamlining the company and overall strategy development with regards to advancing the company’s portfolio of properties. Working closely with the CEO, he will continue to build and manage the strengths of the company’s team in the US and Mexico. David’s initial focus will be to work closely with the Carnegie team towards the development of Tara’s near-term revenue generating projects.
For over 26 years, Mr. Barefoot has built or assisted in the turnaround of companies in multiple industries. His strengths include leadership, developing vision, team building, and consistent execution, which have produced a history of short term profitability and long term stability.
About Tara Minerals Corp.
Tara Minerals Corp. is advancing the development of its Don Roman mine and mill, located in Choix, Mexico and completing the Definitive Agreement with Yamana Gold Inc. that grants Yamana an option to acquire up to a 70% interest in the Picacho gold/silver project. Management is focused on creating long-term shareholder value and deploying its capital to advance its projects by enhancing resources, further outlining new discoveries/targets, and acquiring additional strategic assets. Tara’s strength in recognizing value early and strategy of reducing risk through a foundation of cash flow, positions it for low-risk value creation.
To view this StockGuru Spotlight, please visit: http://stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at [email protected]. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: [email protected].
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031
e-mail: [email protected]