cvi angola, page-2

The only diamond concession that has been officially granted to this “group “ is the alluvial concession of Luachisse, Bie province’s district of Chitembo (Tchitembo), in the commune of Mutumba.

I call it a group because it has been granted to “Canzar” not to CVI. Canzar is the company that CVI wish to acquire.

The alluvial concession was granted and has been formalized by the Angolan Government in publication in the Official State Gazette No. 56, May 2008.

The shares in the joint project are: 30% for state-owned Endiama, 42% for Canzar Resources (British), 13% for Luboia and 15% for Nova Angospencer (both local companies). Under the deal, Endiama has undertaken to provide the venture with geological and mineral data required for the operations.

Should the venture reach the exploration stage, the parties will set up a commercial entity that will be assigned the exclusive right to explore the secondary diamond deposits.

This is not the first time that the Luachisse concession has been awarded.
In 2006, Endiama entered into partnership agreements with Luboia Sarl, Nova Angospencer Sarl, and Metallon Corporation Limited to mine and prospect for diamonds.

As you may know Metallon is a South African group run by Mzi Khumalo. Metallon provided an initial investment between seven and ten million dollars, according to the president of that corporation, Mzi Khumalo. "The second phase on the capital to invest will be determined after the feasibility studies of the project, as the first must finish by the end of this year,"

Metallon did not proceed with exploration and we do not know why.
………………..

The other diamond concessions CVI refer to HAVE NOT been officially awarded yet, including the one they wish to start with first, the alluvial concession at Nhefo.

Are you aware of the very special treatment Canzar / CVI claim to have received from Endiama?

Endiama has agreed to enter into a long term operating agreement with Canzar on Caufo, Luachisee and Nheffo and will guarantee for the first four years a minimum net income to Canzar of US$12.5 million per annum. Production is planned to start on Nheffo and Luachisse by 2009. Endiama have confirmed that if any of the nominated kimberlites are not commercially viable, they will be replaced with other commercially viable kimberlites.

Not bad is it? Incredible!