Findcor Diamonds Mine - Possible Joint Venture

Findcor Diamonds Mine

District Theunissen

 Possible Joint Venture

 1. Findcor Trust offers the following:

• -Fully developed and equiped shaft (50m) deep and development to fissure structures.
• -Two fissures structures ready for development
• -Complete  prospecting diamond processing plant (rails and air loader)
• -Water supply for processing plant etc. complete with pumping equipment and pipes.
• -Electricity supply and network to all equipment (Maximum 100kva)
• -Airdrills, tools and equipment etc.
• -Two indipendent qeological reports.
• -Lots of other ítems

 The fissure structures are ready for development, however a safety assesment of the shaft and tunnel must be done.Depending on miner work to be carried out regarding safety the shaft can be opperational within +- one month from start.

 

2. Joint Venture partner to offer the following:

• -Capital needed to continue with underground fissure development and surface activities.
• -Capital needed for running cost.
• -Beter plant than existing diamond processing plant or upgrading of existing plant.
• -Front end loader and back actor if necessary.
• -Any other items or maintenence if necessary

3. Basic conditions of joint ventures:

• -5% of all diamond sales to be paid to the holder of the prospecting right (Existing agreement between Findcor Trust and holder of prospecting right)
• -45% of all diamond sales to be paid to Findcor Trust.
• -50% of all diamond sales will be the income of the joint venture partner.
• -The JV partner will be entitled to 50% of the selling price of the mine that exceeds 25 million rand.
• The JV partner can claim back all capital invested less income recovered from diamond sales x 150% should the mine be sold at 25 million Rand or less. The maximum amount to be claimed will however not exceed R 2 million.

Quintin Venter
Cell. 082 4999 638