TMR 3.23% 16.0¢ tempus resources ltd

cancelled

  1. nsh
    812 Posts.
    Cancellation of 15 million Share Options
    Tamaya Resources Ltd (ASX: TMR and the “Group”) advise that further to the Group’s
    announcement of 22 February 2008 (“Market Update”), the 15 million share options issued
    to Latitude Resources plc (“Latitude”) in 2007 have now been cancelled.
    Latitude sold its shareholding of 30 million shares in TMR last week and by agreement, as
    a condition of Tamaya’s approval of the divestment, the share options were cancelled.
    The 15 million options had been issued in three tranches of 5 million options at 30 cents
    per share, 40 cents per share, and 50 cents per share respectively which were due to
    expire on 4th September 2009.
    Latitude became a shareholder in TMR following the 2007 transaction involving the
    acquisition by TMR of a 100% interest in Latitude's Chilean subsidiary. The acquisition of
    the subsidiary, Latin American Copper Chile S.A., included a portfolio of tenements with a
    focus on the Coastal Ranges iron oxide copper gold (“IOCG”) belt in Chile which more than
    doubled Tamaya’s copper resources at the time. An exploration campaign is underway to
    progress the Filipina Grande project, while mapping and interpretation work continues at
    the Santa Dominga project.
    Tamaya Resources Executive Chairman Mr Hugh Callaghan said that the Tamaya Group
    share price had recovered following the removal of the overhang in the stock, and following
    the entry of new professional investors and institutions onto the register.
    Hugh Callaghan
    Executive Chairman - Tamaya Resources Limited
    Media: Fortbridge – Bill Kemmery, 0400 122 449
 
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