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Tamaya Resources Limited (ASX Code: TMR) is an Australian junior mining company that produces copper and gold in Chile, the world's largest copper producing nation.
Tamaya Resources controls a copper mine in Chile and a gold exploration tenement package near Charters Towers in Queensland. Corporate restructuring in June 2006 has seen the establishment of a new management team.
While the onus is on the new management team to deliver on promises to consolidate and expand the company to increase cash flows and profitability, it is the options for growth which are embedded in Tamaya Resources which offer the greatest opportunity for it to become a mid-tier diversified mining company.
The aggressive development of this company is underpinned by the following rationale:
- Market conditions remain favourable in the short to medium term to support growth.
- There is a gap in the market for emerging mid tier companies, which are required to develop new projects that fall under the very large hurdles set by majors, and this gap is likely to increase as existing mid-tier mining companies have been taken over by merger and acquisition activity, for example, Zinifex, Anglo American, Oxiana, Newcrest, etc.
- Tamaya Resources assets while promising, are not currently of the quality and size to sustain it as a single mine company but they remain a good basis for a portfolio.
- Diversified and larger companies historically deliver sustainable returns and are less prone to failure than smaller companies, and as a result they attract higher P/E multiples and a more stable investor support base.
Tamaya Resources' management intend to achieve this mid-tier strategy by leveraging off its existing assets for immediate growth, and by acquisition of new assets for longer term growth. The focus is on assets in production or near to production, with an initial preference for base metals [especially copper] and gold.
In addition, Tamaya is well resourced with an experienced management team that gives it the capacity and capability to achieve its strategic objectives.
The Company has currently one operational production centre at Punitaqui in Chile, and one active exploration area around Charters Towers, in Queensland, Australia.
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