Before being granted a mining licence in Laos a JV has to be set up with a local company... Once these agreements are in place the JV can then apply for a mining licence:
BOLAVEN PLATEAU BAUXITE PROJECT
SARCO is working closely with the existing tenement holders and currently has access to two tenements with bauxite bearing areas on the Bolaven Plateau in southern Laos:
(1) LSI tenement, a 138 km2 tenement in which SARCO has a 70% commercial interest in a 66 km2 block; and
(2) Yuquida tenement, a 421 km2 tenement in which SARCO is earning an interest.
LSI Tenement
Planning of next stage exploration has been under review. No field work was undertaken during the quarter being the wet season in Laos.
Yuqida Tenement
Transfer of a 35% interest earned in the tenement by SARCO is in process. Planning for next stage exploration during the forthcoming dry season starting October 2009. No field work was conducted during the quarter being the wet season in Laos.
