Contact Information: Francis Biscan Jr. Phone: (630) 462-2079
Tara Minerals Starts Shipping Silver, Zinc, and Lead Concentrate to Glencore
| Source: Tara Minerals Corp.
CHICAGO, IL--(Marketwire - January 19, 2010) - Tara Minerals Corp. (OTCBB : TARM ) (BERLIN : 6T3 ), a subsidiary of Tara Gold Resources Corp. (PINKSHEETS : TRGD )
(FRANKFURT : T8N ), is pleased to announce that it has started shipping
Silver/Lead and Zinc concentrate to Glencore International.
The Don Roman mill has now increased throughput levels and is currently
operating at the rate of 240 tonnes per day. The quality and grade of
concentrate continues to increase with continued optimization of the mill.
Additionally, exploration efforts have resulted in the discovery of a new
Silver, Zinc, and Lead structure. Efforts to determine the width of the
structure are continuing. Channel samples have been collected with results
expected shortly.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated, "Tara
Minerals has reached a key milestone in its business strategy; the
commencement of cash flow. We now have the opportunity to aggressively
build shareholder value by continuing the expansion of mill production
levels to 480 tonnes per day by Q2 2010."
Tara Minerals has an agreement to sell all of its Silver/Lead and Zinc Don
Roman concentrate to Metagri S.A. de C.V., a local Mexican subsidiary of
Glencore International AG. The agreement includes payment of 85% of the
final Zinc content and 95% of the final Lead content, minus applicable
quality, shipping and processing costs and also payment for gold and silver
content within the concentrate. The agreement is for a five year term with
an extension clause.
About Tara Minerals Corp.
Tara Minerals Corp. has positioned itself to generate cash from the sale of
Silver, Zinc, and Lead concentrate from its producing Don Roman mine and
mill, located in Choix, Mexico. Management is focused on creating long-term
shareholder value as this capital is deployed to increase throughput,
enhance resources, further outline new discoveries/targets, and acquire
additional strategic assets. Tara's strength in recognizing value early and
strategy of reducing risk through a foundation of cash flow, positions it
for low-risk value creation.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
Website: www.TaraMinerals.com