General Discussion on AAU, page-99

The website is slightly outdated.

If you read the SS the team has decided on going a more Chinese route of sale.


MLV intends to charter a 3,000 DWT landing craft to transport TEU shipping containersloaded with 24 DMT of concentrate from the Nueva Gerona port on the Isle of Youth (35 kmfrom the mine site) to the Kingston Freeport Container Terminal in Jamaica (580nm) fromwhere a major shipping line has quoted the cost of transporting the TEU’s to a port in northeast China as the assumed destination.The freight rates from Kingston have been assumed to be at the mid-point between longstanding historic rates, and the current high rates quoted by the shipping line.

Financing of the Project will be a challenge with US sanctions in place against Cuba. However,preliminary discussions with several financial institutions not affected by the sanctions have beenencouraging, as is the prospect of obtaining deferred payment terms from the preferred Chinesesuppliers which could be supported by the China Exim Bank.

Negotiations on project financing can be accelerated now the Maiden JORC Resources have beenestablished, and the detailed Financial Model from the Scoping Study can be provided toprospective lenders.Similarly, as the preferred Chinese suppliers have now been selected, discussions on deferredpayments can commence.