Zaruma 200 % - 400 % Chance

The terms of the Additional Bridge Financing are identical to the terms of the Original Bridge Financing.  The principal and interest owing under the Additional Bridge Financing is due May 5, 2011, subject to early maturity in certain circumstances.  Gravity has the right at any time to convert all unpaid amounts of principal and interest into common shares of the Company at a conversion price of Cdn$0.05 per share.  As consideration for the establishment of the Additional Bridge Financing, the Company will issue warrants to Gravity, on the basis of 1,500,000 warrants to be issued in respect of each advance of Cdn$75,000 under the Additional Bridge Financing.  Each warrant entitles Gravity to purchase one common share of the Company at a price of Cdn$0.10 for a period of one year from the date of issue.  If the full Cdn$300,000 is advanced under the Additional Bridge Financing, the Company would be obligated to issue an aggregate of 6,000,000 warrants to Gravity.

The Gravity MOU contains a covenant of the Corporation to not solicit or participate in discussions or negotiations concerning any equity financing other than the proposed Gravity equity financing for a period (the “Exclusivity Period”) ending on the earlier of 120 days after the first advance under the Original Gravity Promissory Note (which advance was made on May 6, 2010), the completion of the Gravity equity financing or the completion of a competing equity financing which is determined to be a proposal superior to the Gravity Equity Placement.  If the Gravity Equity Placement is not completed and Zaruma completes a competing equity financing that is a superior proposal, Zaruma is obligated to reimburse Gravity for all expenses incurred in connection with the proposed Gravity equity financing, plus US$500,000.  The Company has agreed to extend the Exclusivity Period to January 4, 2011.

Prior to the Additional Bridge Financing, Gravity held the Original Gravity Promissory Note in the principal amount of Cdn$500,000, plus 10,000,000 warrants issued in connection with the Original Bridge Financing.  If these securities were converted and/or exercised for common shares of the Company, Gravity would hold more than 10% of the then outstanding common shares of the Company.  As a result, Gravity is a “related party” of the Company, and the establishment of the Additional Bridge Financing and the extension of the Exclusivity Period is a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).

The Company is also indebted to Frank van de Water, a director and senior officer of the Company, in the principal amount of Cdn$100,000, pursuant to a Series A convertible debenture issued September 15, 2009 (the “Debenture”), which is due and payable on September 15, 2010.  As the Company will not be in a position to repay the Debenture on the scheduled maturity date, the Company and Mr. van de Water have agreed to extend the maturity date of the Debenture to December 14, 2010.  The extension of the maturity date of the Debenture is also a related party transaction for purposes of MI 61-101.

The Company is relying upon the financial hardship exemption from the formal valuation and minority approval requirements of MI 61-101 provided in subsection 5.5(g) and 5.7(e) of MI 61-101 in respect of the related party transactions with Gravity and with Mr. van de Water.  The independent directors of the Company (being all of the directors other than Daniel Major, with respect to the transactions with Gravity, and all of the directors other than Mr. van de Water, with respect to the extension of the Debenture) have unanimously determined that the Company is in serious financial difficulty, that the transactions are designed to improve the financial condition of the Company, and the terms of the transactions are reasonable in the circumstances of the Company.  The establishment of the Additional Bridge Financing, the extension of the Exclusivity Period and the extension of the maturity date of the Debenture will occur less than 21 days following the issuance of this news release and the filing of a material change report by the Company.  The Company’s independent directors have determined that it is reasonable and necessary to complete the related party transactions on an expedited basis, due to the Company’s immediate need for funding to continue to pursue the debt financing and the Gravity equity financing.

Zaruma is listed on the NEX Board of the TSX Venture Exchange, (symbol ZMR.H) and the Frankfurt Stock Exchange, (symbol: ZMR). Common shares outstanding: 117,608,747.

www.zaruma.com/

Toronto, Ontario, November 19, 2010; Zaruma Resources Inc., (TSXV-ZMR.H), (the “Company” or “Zaruma”), today reported that the quarterly Consolidated Financial Statements and Management’s Discussion and Analysis report for the nine and three months ended September 30, 2010 have been filed on SEDAR, www.sedar.com and will be posted on the Company’s website, www.zaruma.com.
Activity in the third quarter was focused on the due diligence review of the Company and the Luz del Cobre, (“LdC”), copper project by Gravity Ltd., (“Gravity”), under a Memorandum of Understanding with regard to an equity investment of $20 million in units of common shares and warrants of the Company, and by a major international bank which has provided an indicative term sheet for a debt financing for up to $30 million in order to fund the completion of LdC to production.
As previously reported, the shareholders approved the proposed equity financing on July 19, 2010, pursuant to which Gravity or a person or persons nominated by Gravity would become the controlling shareholder of the Company. The two facilities are both subject to completing the $20 million equity financing and a minimum of $20 million in debt financing and the settlement of the outstanding debt financing from a subsidiary of Glencore International AG.
Gravity has provided bridge financing of C$800,000 to date under a convertible promissory note in order to provide working capital to the Company during the period leading up to the closing of the financing.
Gravity has advised that subject to all the conditions precedent being satisfied, Zaruma Gold Mining Ltd. (“Zaruma Gold”) will be the company subscribing for the $20 million equity investment at the closing.
The Company is making an application to the TSX Venture Exchange for a Tier 1 listing of the Company’s shares on completion of the financing. In accordance with TSXV regulations, the Company is preparing a Filing Statement with comprehensive details of the Company, LdC, and the proposed equity financing transaction that will be submitted to the shareholders in order for them to consider and if thought fit, approve the private placement of the $20 million in securities to Zaruma Gold.
A Notice of Meeting has been filed for a Shareholders’ Meeting to be held on December 29, 2010 to vote on the proposed private placement. The Management Information Circular and Form of Proxy for voting are expected to be mailed to shareholders around December 3, 2010.
The net loss for the nine months was $1,859,000 (1.6 cents per share) compared to a restated loss of $2,816,000 (2.4 cents per share) for the same period in 2009. The loss for the quarter was $746,000 compared to $971,000 in the third quarter of 2009. The 2009 results were restated to reflect the decision to expense all costs and the interest accruing on the LdC project debt during the current period of inactivity. The LdC interest cost for the nine months was $841,000, (2009- $933,000), and for the three months was $298,000 compared to $289,000 in the same period in 2009. Corporate administrative costs for the nine months were $459,000 compared to $575,000 in the same period in 2009.
This News Release contains forward-looking statements which are typically preceded by, followed by or including the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions, including securing additional funding to continue its development programmes.
Zaruma Resources Inc. is listed on the NEX Board of the TSX Venture Exchange (symbol ZMR.H) and the Frankfurt Stock Exchanges, (symbol: ZMR). Common shares outstanding 117,608,747.

Hier handelt es sich m.M.n. um einen Vervielfacher.

Gleichzeitig werde aber auch die Nachfrage nach dem Industriemetall steigen, hauptsächlich angetrieben vom Wachstum der Emerging Markets, so GFMS. Dias chinesische Nachfragewachstum könnte im Vergleich zu den vergangenen Jahren zwar zurückgehen, doch die Experten rechnen zwischen 2010 und 2013 mit immer noch starken Wachstumsraten von 6%. Damit würde die Nachfrage aus China allein etwa zwei Drittel des Anstiegs des jährlichen Verbrauchs weltweit in diesem Zeitraum ausmachen, hieß es weiter.

Zudem, so die Experten weiter, werden die Kupferpreise wohl auch weiterhin durch die anhaltende Investmentnachfrage gestützt werden, was andererseits aber zu einer erhöhten Volatilität des Kupferpreise führen könne.

Insgesamt ist GFMS der Ansicht, dass die bullishen Fundamentaldaten zusammen mit der nach Ansicht der Experten wahrscheinlichen Ausweitung des Interesses an Kupfer aus dem Investmentsektor für die absehbare Zukunft zu weiteren Zuflüssen in das rote Metall führen werden.

Das sind natürlich ausgezeichnet Aussichten für angehende Kupferproduzenten oder solche, die es in Zukunft werden wollen. Ein, in Bezug auf die Studie von GFMS, perfektes Timing hätte wohl die australische Altona Mining (WKN A1C15Y), die mit der finnischen Outokumpu-Mine 2012 in Produktion gehen will und zudem auch über ein weiteres, riesiges Kupferprojekt in Australien verfügt.

Noch schneller in Produktion gehen dürfte Tiger Resources (WKN A0CAJF). Das ebenfalls in Australien beheimatete Unternehmen wird aller Voraussicht nach ab dem ersten Quartal des kommenden Jahres auf seinem Kipoi-Projekt in der Demokratischen Republik Kongo Kupfer produzieren – mit einer geplanten Produktionsrate von zunächst 35.000 Tonnen pro Jahr – und dürfte damit in Zukunft auch von den steigenden Kupferpreisen profitieren.

Noch etwas weiter entfernt von der Produktionsaufnahme ist African Metals (WKN 912759). Der kanadische Explorer hat auf seiner Liegenschaft Luisha South aber bereits eine Kupferressource von 75.000 Tonnen nachgewiesen und dürfte ebenfalls vom erwarteten Anstieg des Kupferpreises profitieren.

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