Right...Hochschild has screwed Exmin big-timeProduction at the Moris mine remains on track; 6,240 ounces of gold and 14,000 ounces of silver were produced in the third quarter, and year to date production totals 20,320 ounces of gold and 46,000 ounces of silver.
Moris Mine Production Totals(i)
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Q3 Q2 Q1 Q4 Q3
Product 2008 2008 2008 2007 2007
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Ore production (tonnes) 193,009 205,393 181,671 253,766 84,538
Average head grade gold (g/t) 1.53 1.80 1.43 1.62 1.76
Average head grade silver (g/t) 6.31 5.56 4.69 4.62 4.92
Gold produced (koz) 6.24 7.55 6.53 5.18 0.40
Silver produced (koz) 14 18 14 11 1
Gold sold (koz) 5.25 8.90 5.60 3.26 0
Silver sold (koz) 10 22 13 6 0
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(i) EXMIN Resources Inc. owns a 30% interest in the Moris Mine.
EXMIN has not yet received a cash disbursement from the operating profits generated by Minas Santa Maria de Moris, S.A. de C.V., the company that owns the Moris Mine, jointly owned by EXMIN (30%) and Hochschild Mining Plc. (70%) (Hochschild) (HOC.LSE). Management continues to explore options with its partner, Hochschild, to seek access to the positive cash flow from this investment. The mine has been fully funded and in profitable production since the beginning of 2008. Volatile metals prices and project overhead requirements have not yet permitted EXMIN to access the positive cash flow gross production margin to provide working capital for the Company.
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