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Last C$0.33 CAD
Change Today 0.00 / 0.00%
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KAR On Other Exchanges
As of 2:27 PM 07/21/15 All times are local (Market data is delayed by at least 15 minutes).

karmin exploration inc (KAR) Snapshot

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11/25/14 - C$0.50
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karmin exploration inc (KAR) Details

Karmin Exploration Inc. explores and develops base metals and gold mineral properties in Brazil and Peru. It primarily explores for zinc and gold deposits. It owns interests in the Aripuana property located in Brazil; and the Cushuro property located in northern Peru. The company was formerly known as Ambrex Mining Corporation and changed its name to Karmin Exploration Inc. in August 1999. Karmin Exploration Inc. was incorporated in 1995 and is headquartered in Toronto, Canada.

Founded in 1995

karmin exploration inc (KAR) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: C$20.0K
Chief Financial Officer
Total Annual Compensation: C$14.0K
Compensation as of Fiscal Year 2013.

karmin exploration inc (KAR) Key Developments

Karmin Exploration Inc. Announces Results of 2014 Exploration Program at the Aripuanã Zinc Project

Karmin Exploration Inc. announced the results of the 2014 exploration program at the Aripuanã Zinc Project (‘Aripuanã’) located in north-western Brazil. The company has a 30% carried interest in Aripuanã until 12 months after the delivery of a bankable feasibility study. Votorantim Metais Zinc S.A. (‘Votorantim’) and Compañía Minera Milpo S.A.A. (‘Milpo’) jointly own 70% of Aripuanã but are responsible for 100% of expenditures until 12 months after the delivery of a bankable feasibility study. The operators have delivered a report to Karmin outlining the exploration results from the 2014 program. Prior to 2014, approximately 240 diamond drill and reverse circulation drill holes, totaling approximately 45,760 metres, were completed on the AREX deposit. During 2014, four diamond drill holes confirmed the continuity of stringer mineralization at depth along a strike length of 400 metres. An additional two drill holes confirmed the continuation of the AREX deposit at least 250 metres west of the ARPA fault which had previously been the western boundary of the AREX deposit. To date, six diamond drill holes completed in the Link Zone between the AREX and AMBREX deposits have intersected base metal mineralization thereby decreasing the gap between the AREX and AMBREX deposits. In particular, a high grade intersection of 56.99 metres (not true thickness) grading 11.2% zinc and 5.4% lead in drill hole BRAPDD0011 has made the Link Zone a priority target for the 2015 drill program. The mineral resource model will be updated when the Link Zone drilling is completed. During 2014, engineering work was limited to environmental studies and was submitted to SEMA-MT, the governmental office for environmental permits in Mato Grosso State. Currently work is ongoing with respect to Aboriginal affairs and archaeological studies. The 2015 work plan, subject to budgetary approval, includes revision of the Operator's internal pre-feasibility study, public hearings and the start of the Operator's definitive feasibility study. As announced in Karmin's press release of February 12, 2015 Milpo has purchased an initial 7.7% participation in Aripuanã from Votorantim and Milpo will significantly advance the development of Aripuanã with plans to conduct additional geological and engineering studies to reach the level of a feasibility study within an estimated timeframe of 18 months.

Karmin Exploration Reviews Strategic Alternatives For Karmin Peru

Karmin Exploration Inc. (TSXV:KAR) has engaged Kallpa Securities SAB to conduct a strategic review of Karmin Peru SAC and its 100% owned Cushuro gold project located in the Alto Chicama gold district of northern Peru. The objective of this review is to transform KarPeru and its Cushuro Gold Project into a standalone public entity focused on the exploration and development of Cushuro and other projects in Peru.

Karmin Exploration Inc. Auditor Raises 'Going Concern' Doubt

Karmin Exploration Inc. filed its Annual on Aug 25, 2014 for the period ending Apr 30, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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