Welcome To The Exmin Resources HUB On AGORACOM

An interest in multiple opportunities for discovery and production in the mineral rich Sierra Madre Occidental Gold & Silver Belt of Northern Mexico.

Hub Home

> Log In

Demo Video
Private Messages
Edit My Profile
View/Edit Portfolio

AGORACOM News Flash

AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

Top Sector Stories ....

Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

DONNER METALS INTERVIEW: David Patterson Discusses the Bracemac-McLeod Mine Development Beyond the Press Release

AGORACOM Launches GraphiteStocksBlog.com

We're proud to announce the launch of GraphiteStocksBlog.com a website dedicated to the needs of investors and companies in the fast growing Graphite industry.

INAUGURAL GRAPHITE SPONSORS

Message: EXMIN Signs Letter of Intent to Sell Its Moris Mine Interest

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23899

Rating: [?]

Votes: 219 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

EXMIN Signs Letter of Intent to Sell Its Moris Mine Interest

posted on Mar 27, 09 08:20AM

March 27, 2009

EXMIN Signs Letter of Intent to Sell Its Moris Mine Interest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2009) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) announces that it has signed a Letter of Intent to sell its 30% shareholding interest in Minas Santa Maria de Moris, S.A. de C.V., (MSMM), the Mexican holding company of the Moris mine, in western Chihuahua state, Mexico. MSMM is owned jointly by EXMIN 30% and Hochschild Mining Plc. (Hochschild) 70%. Hochschild has been the operator since the companies purchased the Moris mine in December, 2006.

Caza Gold Corp., a private company, has offered to purchase EXMIN's interest in MSMM for U$ 1.5 million plus IVA, the 15% value added tax. The offer is subject to a Right Of First Refusal (ROFR) by Hochschild Mining Plc.

Karl J. Boltz, President & CEO stated, "This is another step in EXMIN's strategy to recapitalize the Company in a very difficult financing environment. The Moris mine has not produced any benefit to EXMIN shareholders. The capital raised in the sale of the mine will benefit shareholders by allowing the Company to advance its other projects."

In a separate agreement, EXMIN has also signed a Letter of Intent to sell a land package of 47,433 hectares of its 71,000 hectare Moris exploration project and its 70% owned, 12,933 hectare Maguarichi exploration project to Caza Gold Corp. This is a separate agreement to the Moris Mine purchase agreement.

Caza Gold Corp., a private company, has offered to purchase the two exploration projects for 400,000 common shares of Caza Gold and a 1% net smelter return (nsr), capped at U$ 1 million in Moris and a 1% nsr capped at U$ 500,000 in Maguarichi.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »