News

May 07, 2008

Tamaya Re-Writes The Rule Book With A Money-Saving Move To London

By Our Man in Oz

Not many mining companies move to London to save money. But that’s just what Tamaya Resources is doing as it juggles the challenges of developing a global spread of mining interests off a small financial base. Technically, Tamaya will retain its home stock exchange listing in Australia, but relocate its head office to the inner London suburb of Wimbledon.

The shift will save more than A$400,000 a year, mainly in the air fares currently being racked up shuttling managers between Tamaya’s copper interests in Chile, its gold interests in Armenia and its tungsten interests in Portugal. It’s the far-flung nature of Tamaya’s assets, and what appears to be a lack of clear focus on any single asset, that worries some outside observers. This is a company supporting far-flung aspirations on a modest market capitalisation and a share price which has fallen...