Location of Mining Concessions

Each concession is 25.0 acres in size and includes the rights to the lands and river beds between concessions owned. Each concession is registered and in good standing with the Ministry of Mines in Ghana as of May 31, 2008 (see Appendix 3 for a list of the actual concessions).

Androco Ltd. secured the exclusive mining and distribution rights to these concessions through a January 2008 joint venture with the Ministry of Mines (Ghana) under which Androco is responsible for capitalization and operations of the site. In exchange, Androco Ltd. retains a 60% profit stake in the venture. The 40% is paid out of operating income as a royalty and is based on pre-tax operating profits. Yendzi Mines is responsible for paying any taxes due on its share of the pre-tax profits.

Mining Project

© Copyright 2011 SIDE EQUITY. All Rights Reserved.