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BankPlus

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Progress with Joint Venture Companies

Lara Exploration Ltd. (LRA:TSX.V, 0.73) released results from the first drill hole at its prospective Planalto Copper Project in Brazil. Results from three more holes should be forthcoming over the next month or two. All the assays together should provide a better, if initial, sense of potential deposit.

Elsewhere, partner Codelco continues to wait for a court ruling on ownership of the Liberdade copper project in the case brought against it by Vale. The case seems reasonably clear, and the current anti-corruption environment in Brazil means the case should be decided on its merits. A win for Codelco—followed perhaps by some sort of settlement with Vale to prevent an appeal—would be a huge win for Lara which has a 30% carried interest in the project.

Cash and revenue ahead

At Curionopolis, its partner Tessarema is waiting for its production permit. Once up and running, the project, in which Lara has a 5% carried interest and a 2% royalty, should distribute between $500,000 and $1 million a year to Lara for five to 10 years. There is a penalty of $1 million due if the mine is not in production by November.

Home loans through BankPlus?

Has anyone ever taken out a home loan through BankPlus? If so, do you know if they offer any kind of grants or anything like that to use towards putting a down payment on your home?


I don't know BankPlus, but I can tell you this. The type of grant/down payment assistance is not provided by banks/lenders. Typically, this is done by governmental agencies and/or housing non-profits.