RE: Exmin''''s Potential Production from MorisProduction is going to start in Q3 as made official by Horschild in their quarterly release. I guess they have to wait until Q3 to get all of the licenses and permits updated and also to train the staff
Mina Moris
In early December 2006, we exercised our option to acquire a 70% stake in the
Mina Moris open pit mine in Chihuahua, Mexico, which was owned and operated by
Manhattan S.A. de C.V between 1996 and 1999. Exmin Resources Inc. ("Exmin") is
our partner in this project and owns the remaining 30%.
Our current strategy with Mina Moris initially focuses on bringing the open pit
mine back into production in a very cost efficient manner and mining the
remaining surface ore. However, we are most interested in the surface and
underground potential and geological characteristics of the surrounding 30,000
hectare property package we own with our partner Exmin plus an additional 50,000
hectare claim under approval by authorities. This property package is in one of
Mexico's most prolific gold belts and is host to the most recent exploration and
new mine developments, namely Ocampo, Mulatos and Dolores. We are committed to
explore the area with increasing intensity in the next several years.
We expect to commence production at Mina Moris in the third quarter of 2007 at
an initial capacity of 1,060 ktpa. The ore will be processed at a plant which
came with the property and is currently being refurbished. Since the operation
was initially commissioned in 1996, some of the permits and licenses have
lapsed. However, we have obtained the majority of the necessary permits and
licenses save for the health license, blasting license and the authorization to
purchase explosive material.
Mexico is a country with a long history of mining. The local reaction to our
entering the region has been positive with the people of the local village
optimistic about the opportunities which will arise from our recommissioning the
mine. The local village provides a skilled workforce having once worked at the
same operation not so long ago. In line with our corporate culture, we believe
in an emphasis on social responsibility and have already begun a dialogue with
the local communities near the mine in Mexico.