what price tmr next week, page-23

Yes, sorry I will admit I was wrong to get caught up in their campaign, no more from me. I must say they are showing great spirit and fight for IBR, just going about it in an unprofessional matter.

5 key reasons why Tamaya is an excellent investment
�� Market Capitalisation ~A$250m after completion of Merger
– Undervalued – does not reflect asset potential
– No capital raisings planned or forecast
�� Growing Production from Chilean Copper operations
– Daily Throughput of 1500tpd set to reach 3000tpd sulphides by
December 31st 2007
– Oxides feasibility study underway – potential for additional low cost
copper production
– Sulphides production at 26 - 28m lb of copper in 2008 at costs
trending to US$1.00/lb
�� Growing Cashflow from Chilean copper operations
– EBIT for the March 2007 quarter of A$5.5m on plant throughput of
1250tpd
– At a rate of 3000tpd production from 1st January 2008, this will be a
140% increase on the level of production in the March quarter, and
with a lower cost base driven by economies of scale and ongoing
metallurgical improvements.
�� Armenian Gold Operation to be developed
– Lichkvaz-Tey orebody has a resource inventory estimated at 1.4m
equivalent gold oz’s – we believe there is potential for 3m
equivalent gold oz’s
– Advantages of grade, size and location to support development
later in 2007
�� Strong Exploration Portfolio in Chile and Portugal
– 0.93m oz’s inferred resource at 2 gold projects (Montemor and
Portalagre) in Portugal
– 40km long holding in an unexplored belt of the Andean IOCG belt
near to the mine in Chile. We do expect that at least one, and
probably two of these targets will be reflected in a JORC compliant
resource statement by the end of this year.