Has entered into a memorandum agreement to purchase the shares of Chongqing Yuao Building Materials Co Ltd located in Chongqing in the People's Republic of China from BelTrading International Corp, a company registered in the British Virgin Islands. The transaction will be by way of a share swap between parties.
Giralia Resources NL
Drilling will recommence in late March 03 at the Snake Well project. MIM has now notified Giralia of its election to proceed beyond the option period and enter a joint venture at Snake Well, under which MIM has the right, but not the obligation, to earn a 60% interest through expenditure of $3 million over the next 5 years.
Heron Resources Ltd
Has entered into a Letter Agreement with LionOre Australia (Nickel) Ltd whereby LionOre may earn a 70% interest in all minerals from Heron's Maggie Hays Project through expending $200,000 within four years.
Striker Resources NL
Striker , AngloGold Australia Ltd and De Beers Australia Exploration Ltd have entered into a joint venture agreement covering 17,000 square kilometres in the east Kimberley region. AngloGold, as manager, will carry out exploration for gold with an initial commitment of A$500,000 and has the right to earn 51% in all of the tenements subject to the agreemet, via a series of joint venture agreements, for a total combined expenditure of A$7,750,000. The signing of this agreement signifies settlement of the legal dispute between Striker, AngloGold and De Beers.
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