Summary TARMThis summary was posted on another site:
"Time to take a step back and review Mgt's accomplishments and progress to get us this far:
It all started on May 12, 2006, when Tara Minerals incorporated as a mining exploration company. By October of that year, they started geology.
On October 31, 2007 the company completed it's 1st fiscal year. Mgt successfully raised the initial capital to begin Don Roman mine and mill construction. Shares outstanding was 37.8 million with only 73 share holders
January 2008, mill construction started. By May, the facility really took shape. Conveyors, ball mills, crushers and roads were already in place. Unfortunately, 2008 was also world sub prime meltdown year: Bear Stearns blew up in March. AIG and Lehman imploded in Sept, followed by Citigroup, Merrill Lynch, Wachovia, GM, Fannie, Freddie all falling like dominoes. TARP rescue. Tara Minerals persevered thru providence.
2009: Don Ramon mill processing facility completed to begin production. Water, electricity, roads, permits, floatation cells. A roof was added to protect all the eqpt from rain.
2010: Start up. Production plan from 120 T/d to 240 to 360. By Sept, it was 1st and goal on the 2 yard line and mgt fumbled - not enough $'s, mine & mill expertise and ore recovery below expectation. Mgt realized that they couldn't do it alone and changed strategy to joint venture with experts and new capital to cross the goal line. Outsource everything and convert company to a royalty model. More providence.
2011:
Feb: 1st JV LOI announced with Adit Resources and Yamana Gold. At least 1M gold ozs worth $2.25/share upon signing of defintive and significantly more if Yamana proves out reserves by spending $14 million on geology and exploration over next 12 months. Yamana is also taking a strategic equity stake in Adit too, so they must believe.
May: 2nd JV Tania iron ore. Secured mining rights. Successfully raised $750,000 to advance project via royalty. Mgt out-sourced ore processing and transportation to a mining expert at a fixed cost/ton. For every 10,000 tons of iron ore processed, we get a min $350,000 net profit without touching the ore. How many saleable tons for the mining experts to process? 6 million. Get out your own calculator to do the math.
May: 3rd JV LOI announced with Claridge, Hanlon to run Don Roman. 8 months ago, mgt fumbled on the 2 yard line. 8 months later, mgt brought in the Super Bowl champions to cross the goal line!
Who's Claridge? Founded in 1999, experts in mining, geology, metallurgy and experience in efficiently operating mills and mines. Just in the last few years alone, they have completed over 400 mining projects for companies like: Freeport McMoran, Newmont, Barrick, Hecla, BHP Billiton, Nord Resources, Phelps Dodge, to name a few.
The Don Roman mill is surrounded by 25,400 acres (40 square miles!) of potential gold, silver, zinc, lead, copper and iron ore reserves and mgt brought in the Claridge generals to run it and they only have to invest $8 million in new captial to earn a 49% interest in Don Roman.
It typically takes 10 years to acquire, finance, build and staff a mine and commence production. Tara Minerals mgt has done it in half the time.
Junior mining companies reaching production typically have 300 million shares outstanding and most don't even reach production. TARM has only 60M shrs out, or 80% < avg and it appears they don't need to raise anymore money.
After 5 long years of patiently waiting, we have arrived. We've come a long way, baby. "