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CHI11man

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CHI11man

Re: decouverte d Elbe post# 623

Wednesday, 01/27/2010 12:24:48 PM

Wednesday, January 27, 2010 12:24:48 PM

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VEM partnership with Gold Fields can earn an initial 51% interest in "NewCo" by spending US$1.5 million on exploration and maintenance within three years of the effective date of the joint venture agreement. Gold Fields can earn an additional 19% interest in "NewCo" by spending an additional US$3 million on exploration and maintenance within the subsequent three year period to bring its total interest to 70%. If Gold Fields does not complete the additional investment of US$3 million, its interest in "NewCo" will remain at 51%.

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