The Company has signed a Business Cooperation Agreement with Suda Lattana Co., a Laotian company, to develop a 67,000-acre gold mining project in the Province of Savannakhet, Laos,According to the Agreement. The Company will be responsible for financing and operating the gold mining project and will share a majority of the project’s net profits after accounting for the costs of capital and operating expenses. It is estimated that 3,527,000 ounces of gold can be mined from this concession, subject to further professional study and verification. It has been reported that Sepon, another gold mine in Savannakhet operated by Lane Xang Minerals Ltd., a majority-owned subsidiary of MMG Company (http://www.mmg.com/en/), has produced over 1.2 million ounces of gold through open pit mining and conventional treatment of oxide gold ore during its operations.
In addition, the Company intends to apply the proprietary HYMAX HD processing system owned by American Pacific Resources, Inc., which uses a combination of gravity and electromagnetic relays to recover over 96% of all metals, to retrieve gold and other precious metals from tailings in Laos.