Dia Bras Exploration Inc V.DIB

Buyout

[mining1949]

Taken from this link in 2009- https://www.infomine.com/index/pr/Pa866733.PDF


This is what I have translated from the 2009 financials(link above):


"December 31, 2009
During 2009, Minera Corona generated US27,900,000.00 million of net profits. In spite of the low metal prices, the company could invest in explorations, machinery, mine and plant infrastructure. Exploration and development workings, among crosscuts, sublevels and shafts total up 1,912 m continued with diamond drilling reaching 18,534.48 m undertaken in the Mina Central and Mina Cachi Cachi having increased the reserves 10% over previous year."

Diabras should have a minimum of $60 to 70 million in yearly profits from the mine in Peru alone. In the year 2009 the company that Diabras purchased profited $27.9 million when all commodities prices collapsed. Since the 2009 report came out prices of silver has almost tripled, zinc has doubled and copper prices have also doubled.
I believe in north of $12 a share for Diabras.