Tara part 2 of 7. La CurritaOk, we have seen that while Tara has a mcap of about 50 million, the San Miguel part (30%) alone is worth 62,5 musd. Amazing, but it gets alot better as we continue through Tara´s debt free portfolio. One can only speculate that Paramount must be thinking that it would be attractive to buy Tara at a 50% premium and own the entire San Miguel as well as add the other Tara properties that are so close to San Miguel.
Next out is La Currita JV´d with Raven Gold, www.ravengold.com/
www.stockhouse.ca/comp_info.asp?symbol=RVNG&table=LIST
Raven will eventually earn 60% by making payments and giving shares to Tara (one of the revenue streams that gives Tara cashflow to pay for its share of the huge San Miguel drill program to quickly prove up those 43-101 silver reserves).
As you can see on Ravens webpage, it is the same as with Paramount, they basically do not have much else than the nice La Currita project that is a gold producer today with a mill.
Raven has a valuation of 77 musd according to Stockhouse and reports of nr of shares at Edgar. So that is 77 musd for 60% of this goldproject/producer. 77/0,6= 128 musd for the entire project or 51 musd for Tara´s share.
Actually Tara´s share should be worth more since Raven has already this year paid Tara about 1,4 musd in cash and stock as well as paid the underlying price to the original seller.
They will also move La Currita forward by paying 1,375 musd before next summer in exploration and expansion. The 12 month thereafter this sum increases to almost 3 musd as well as paying another 0,6 million usd in stock and cash to Tara. Every year there after Raven pays another 0,1 musd to Tara. By doing so they move from 25% today to 60% of the property.
But let us be conservative. We will only count 40% of La Currita that is 51 musd and add that to the San Miguel part..
62 musd + 51 musd = 113 musd...
TARA IS BASICALLY DEBT FREE, VALUED AT 50 MUSD AND WE HAVE ONLY COME TO 2 OUT OF 7...
Look at the facts and see the potential for a much higher valuation.
These "bad things" doesn´t justify such a low valuation of Tara:
1. We would have expected the financials for 2006 during the spring this year 2007. They are delayed some months, which is not good of course.
2. The problems with Lateegra. Picacho is a good property but not important for the valuation of Tara as we will show. The only consequence is that Tara has to pay 0,95 musd for 2007 and 2008 in the payments for the property and that this property sees delays. Hardly especially important, but we will return to the issue.
3. A large New York group is short alot of shares and believes that posting on chatpages scares people out of the stock. I will continue writing about all the properties but I will not answer paid basher like "Tara problem".. Everyone must surely understand what that is about..
Quite the opposite! You will never find a better way to bet on a lower USD and a higher gold/silver price.
Tara Gold Announces La Currita Assessment Supports Expanded Production and Exploration
https://www.taragoldresources.com/English/News/PressReleases/PressReleaseDetails/2007/TaraGoldAnnouncesLaCurritaAssessmentSupportsExpandedProductionandExploration/default.aspx