IDC 0.00% 0.0¢ indochine mining limited

article, page-2

  1. 168 Posts.
    Some of the Conditions put on the EL 1093 are:-

    (1) The holder shall comply with the PROGRAMME described in Schedule 2 attached hereto as varied from time to time.

    (2) Subject to any agreement made under Section 17 of the Act the State reserves the right to elect at any time, prior to commencement of mining, to make a single purchase up to 30% equitable interest in any mineral discovery arising from this licence, at a price Prorata to the accumulated exploration expenditure and then to contribute to further exploration and development in relation to the lease on a prorata basis unless otherwise agreed.

    (3) The tenement holder shall complete the Land Investigation Study (LIS) in all respects and have it approved by the relevant State Departments/ Agents on or before 31 December 2013.

    (4) Compensation due and owing pursuant to section 154 Mining Act 1992, for the period from August 2010 to August 2012 as well as for the current term of EL 1093 to date, shall be paid by the tenement holder to the relevant landowners on or before 31 March 2014. Any such compensation becoming due thereafter shall be paid expeditiously.

    (5) The tenement holder shall engage, consult and work closely with all landowners who have an interest in EL 1093 to assist them establish landowner groups or associations capable of legally representing their respective interests in EL 1093.

    (9) The parent company of the tenement holder shall provide a parent company guarantee to the tenement holder in a form acceptable to the Mineral Resources Authourity with a view to secure the exploration expenditure and other financial commitments (including compensation payments referred to above) of the tenement holder for the renewal term of EL 1093.

    (10) The tenement holder shall ensure the landowner equity in tenement EL 1093, free carried by the tenement holder, is negotiated and agreed upon with all properly constituted landowner groups or associations, as early as possible.

    (11) Breach of or failure to comply with any of the above conditions, in whole or part may result cancellation of the tenement.
 
watchlist Created with Sketch. Add IDC (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.