Vancouver, British Columbia, March 20, 2012 - Toronto based eResearch has issued a StockPotentials report on Red Tiger Mining (TSXV:RMN). StockPotentials reports cover smaller companies that have little or no following on the Street, that eResearch believes would be primarily of interest to retail investors.
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The company is involved in the exploration and development of copper and gold projects at its 11,000 hectare, San Antonio properties in the State of Sonora in Mexico. In November 2011, following a lengthy legal battle, Mexican courts approved a settlement which ended its Mexican litigation.
Red Tiger recently announced that construction and development of Luz del Cobre, which was restarted some months ago, has reached the stage where ore crushing, curing and placement on the valley leach pad have begun. About 150,000 tonnes of ore, at an average grade of 0.81% copper were mined to the end of February 2012, and this tonnage is being crushed at a rate that will ramp up to 350 tonnes per hour. It will then be conveyed to the leach pad along with ore being mined and crushed as the stockpile is depleted.
Copper cathode production is expected in mid-April, with the project designed to produce 15 million pounds of copper cathodes per year, over 6 years, by an open-pit, heap-leach, solvent extraction, electrowinning operation.
The company reports current reserves and resources, which are open ended, of 4.6 million tonnes at 1% copper.
Management estimates an average cash cost of $1.30 per pound, before interest, depreciation and taxes, although the initial cash cost may be higher. This project is expected to create significant cash flow for Red Tiger.
There is also the potential for an open pit gold leach operation as a separate project, supported by existing support infrastructure
eResearch cautions that the company will require additional funds to advance the existing gold property and any new properties, and a large control position may prohibit much institutional interest.
The company is trading at $0.88, and with approximately 65 million shares outstanding, is capitalized at $57 million.
For more information about Red Tiger, please visit their website at www.redtigermining.com (http://www.redtigermining.com/), phone 416-869-0772, or email info@redtigermining.com (mailto:info@redtigermining.com).
For a copy of the report, contact eResearch at www.eresearch.ca (http://www.eresearch.ca/). While on their site, sign up for their free reports. eResearch does not receive a fee for the preparation and publication of StockPotentials reports.
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