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    TradingHalt Zaruma unterzeichnet mit Glencore die Finanzierung der Mine - 500 Beiträge pro Seite

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      schrieb am 20.06.07 20:54:14
      Beitrag Nr. 1 ()
      ZARUMA RESOURCES INC



      Zaruma Resources Announces Luz del Cobre Financing
      6/20/2007

      TORONTO, Jun 20, 2007 (Canada NewsWire via COMTEX News Network) --
      Zaruma Resources Inc., (TSX-ZMR) is pleased to announce that in recent discussions with Glencore International AG, Glencore confirmed its intent to provide US $22 million as debt financing for the capital requirements of the Luz del Cobre copper project, and also confirmed its interest in participating in the proposed copper exploration program on the 9,764 hectare property, which includes the Trion area, 1000 metres to the west of Luz del Cobre, where a previously undefined oxide copper target zone has been delineated. In consideration of Glencore's provision of the loan, and financing the exploration and development of Trion, Glencore shall have the right to offtake 100 per cent of all base metal production from Luz del Cobre and Trion, based on London Metal Exchange market prices.

      Zaruma is committed to fund any capital cost overruns and will source the remaining estimated amount of the project cost, estimated to be US $3 million.

      The Technical Report on the project, in compliance with NI 43-101 standards, was filed in November, 2006, indicating estimated reserves of 4.4 million tonnes of ore with an average grade of 1% Cu, and based on producing 15 million pounds of copper per year, the pre-tax net operational cash flow was estimated to average US$19.4 million per year. Adjusting the projected price of copper to a more recent trailing average price over 24 months of US$2.51 would add over $4 million the annual cash flow.

      The project capital cost is currently estimated at US$25 million, and the estimated time to first production is 12-15 months from the date an engineering, procurement and construction management ("EPCM") contract is awarded. Cost estimates will be more accurately defined as the engineering and procurement work proceeds.

      The selection of the EPCM contractor will be done while the legal agreements on the financing are being completed.

      At today's Annual Meeting of Shareholders, the directors proposed by management for election, Peter Lorange, Michael Power, Michael Richings, Thomas Utter and Frank van de Water were re-elected.

      Zaruma Resources Inc. is listed on The Toronto and Frankfurt Stock Exchanges, (symbol: ZMR). Common shares outstanding: 108,296,912.

      SOURCE: Zaruma Resources Inc.

      Zaruma Resources Inc.: 20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada, Fax: (416) 367-3638, info@zaruma.com, www.zaruma.com; Dr. Thomas Utter, President and CEO, Tel.: (416) 777-1781, thomas.utter@zaruma.com; Frank van de Water, CFO and Secretary, Tel.: (416) 869-0772, fvandewater@on.aibn.com

      Copyright (C) 2007 CNW Group. All rights reserved.

      © 2007 Stockgroup Media Inc. | Disclaimer
      Avatar
      schrieb am 20.06.07 22:22:04
      Beitrag Nr. 2 ()
      Attention Business Editors
      Zaruma Resources Announces Luz del Cobre Financing
      TORONTO, June 20 /CNW/ - Zaruma Resources Inc., (TSX-ZMR) is pleased to
      announce that in recent discussions with Glencore International AG, Glencore
      confirmed its intent to provide US $22 million as debt financing for the
      capital requirements of the Luz del Cobre copper project, and also confirmed
      its interest in participating in the proposed copper exploration program on
      the 9,764 hectare property, which includes the Trion area, 1000 metres to the
      west of Luz del Cobre, where a previously undefined oxide copper target zone
      has been delineated. In consideration of Glencore's provision of the loan, and
      financing the exploration and development of Trion, Glencore shall have the
      right to offtake 100 per cent of all base metal production from Luz del Cobre
      and Trion, based on London Metal Exchange market prices.
      Zaruma is committed to fund any capital cost overruns and will source the
      remaining estimated amount of the project cost, estimated to be US $3 million.
      The Technical Report on the project, in compliance with NI 43-101
      standards, was filed in November, 2006, indicating estimated reserves of 4.4
      million tonnes of ore with an average grade of 1% Cu, and based on producing
      15 million pounds of copper per year, the pre-tax net operational cash flow
      was estimated to average US$19.4 million per year. Adjusting the projected
      price of copper to a more recent trailing average price over 24 months of
      US$2.51 would add over $4 million the annual cash flow.
      The project capital cost is currently estimated at US$25 million, and the
      estimated time to first production is 12-15 months from the date an
      engineering, procurement and construction management ("EPCM") contract is
      awarded. Cost estimates will be more accurately defined as the engineering and
      procurement work proceeds.
      The selection of the EPCM contractor will be done while the legal
      agreements on the financing are being completed.
      At today's Annual Meeting of Shareholders, the directors proposed by
      management for election, Peter Lorange, Michael Power, Michael Richings,
      Thomas Utter and Frank van de Water were re-elected.

      Zaruma Resources Inc. is listed on The Toronto and Frankfurt Stock
      Exchanges, (symbol: ZMR). Common shares outstanding: 108,296,912.



      ZARUMA!!!!


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