Billionaire Boys Club Member Forum (BBCMF)

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EDLT.OB

Info on East Delta's Nickel-Iron-Cobalt mine in China:

Also, in April 2005 we incorporated a new company in the State of Delaware, Sino Canadian Metals Inc. ("Sino Canadian") whose primary business is to be in base metal mining in China.

In May 2005, we reached an agreement with the Chinese mining entity, Qinghai Jiahu Metal Development Co. Ltd. ("QJMD") to form a Joint Venture to develop the Yuanshishan Nickel-Iron-Cobalt deposit located in Ping'an County, Qinghai Province (in northwest China). Under the terms of the Agreement, the newly formed JV will acquire all the exploration and production permits owned by QJMD related to this property and gives Sino-Canadian the exclusive right to earn at least 75% of this project, subject to investing USD $300,000 in the new JV and assuming the responsibility of all eventual funding necessary to bring the property to the mining and production stages.

The Yuanshishan Ni-Fe-Co deposit is located south of Ping'an County, 62 km east of Xining city, the provincial capital. Over the past two decades, extensive exploration and fieldwork has been carried out at this site by the Bureau of Geology and Mineral Resources of Qinghai province. The results from the Bureau's exploration and fieldwork confirmed that the mineralization at Yuanshishan is of a Nickel dominated polymetallic nature, and that the Ni, Fe and Co grades are of economic importance. An open pit design was deemed suitable for the development of this deposit. QJMD reported that both it and the Chinese government have spent over USD $3,000,000 drilling and exploring this property to date. In addition, the local infrastructure in this region to support mining activities is good. Roads connect the property to the nearby townships and counties, and a railway passes through Ping'an County. Electricity, manpower and water supplies are readily accessible. We have yet to validate any data given to us by QJMD or the Chinese authorities.