Timing, Timing Timing If you go back to the 2011/2012 news release we can see that TAM managment is working hard on converting their historical resources to the modern NI 403-101 compliant. At a time Tamerlane is trying to get financing we have a stock pile of Zinc in warehouses that reached a high limit and this depressed the price to 0.90$ a pound. Not ideal.
What they done so far is trying to prove that the project is economical and instead of getting the finance from an institution at high interest, they're trying to get it from a conventional bank or banks .
If you look at the NR on Monday, 21 November 2011 09:06, CEO M Willett said:
"Our objective is to continue to add to our NI 43-101 resource base so that we have 15 years or more of reserves and resources. "
Now with the latest R190 & N204 they reached a mine life of 13 years and we're very close to our 15 years mine life objective.
if you look at NR on Friday, 23 December 2011 15:06:
"The proceeds of the private placement will be used principally for a drill program focusing on the K-68 and M-67 deposits at the Company’s Pine Point zinc-lead property located in the Northwest Territories, Canada"
So they are still working toward the 15 years mine life we haven't heard yet the results of K68 and M-67. Still have a couple more of years of mine life to add and the 15 years mine life will achieved. So financing might be around the corner.