Following a recent site visit by a major Japanese trading house (JTH), the JTH has offered investment and joint venture terms to Telkwa Coal Limited, the Company’s wholly owned Canadian subsidiary that owns a 100 percent interest in the Telkwa Project. Subsequently, the JTH and the Company have entered into a terms sheet (Terms Sheet) allowing time for approvals to be obtained, and for the negotiation of binding and definitive agreements, in relation to that potential investment and joint venture
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Ann: Investor Presentation, page-7
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