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Dia Bras Exploration Inc V.DIB



TSXV:DIB - Post by User

Comment by OilSandSamon Oct 11, 2009 4:13pm
266 Views
Post# 16380983

RE: Exmin sells properties

RE: Exmin sells propertiesWell it's nice to see that our business has worked out with Canarc (CCM). After they spun out their mexican assets into Caza, I wasn't sure what was going to happen with the deals we started with CCM before we merged with Dia Bras. Moris was a nice size land package for exploration, but as we no longer have any ties with Hochschilds, it really isn't the greatest fit for the direction we seem to be heading in. Now when you look at Reyna De Oro, that is a nice fit. If you haven't seen a map with the combined properties put together, you can see it in the merger presentation here. Go down to page 16 for a good view. Not hard to see why Dia Bras had a clause in the merger agreement that stated if the deal didn't go through that they would gain the right to take over Reyna. You'll also see that Batopilas is in a pretty sweet spot also. The new mine being built at Bolivar puts Reyna at the top of the list for exploration in regard to EXM properties brought into the deal (my opinion). The deal for the Santiago faction was originally supposed to be a joint venture. Not sure why the change now, could have been a deal clincher to sell the Moris Exploration property. None the less, it is just a miniscule piece of what makes up the Batopilas project. Bolivar and Cusi are projected to have some pretty big cost reductions in their mining operations, also available from the DIB AGM presentation from June 2009 linked here. It does include some pull back in the amount of ore processed, however the cost per ton is the number to look at. I would have to say that after looking at some of the mine development timelines, November should be a good month for news (again, my opinion).
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