Just some old stuff
Zijin Mining Group Co., Ltd.
ZIJIN MINING GROUP COMPANY LIMITED
To avoid ambiguity, it is clarified as follows: If COMINIERE fails to legally and effectively transfer the mining rights in the "target area" to the name of the joint venture company, COMINIERE has no right to request Jincheng to return 15% of DATHCOM's shares, nor does it have the right to request Jincheng to give up its Payment to COMINIERE for the acquisition of 15% of DATHCOM.
To avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Target Party to the Joint Venture, COMINIERE will not have the right to demand from JIN CHENG the retrocession of 15 % of shares in DATHCOM, nor the waiver of the payment it made for the acquisition of 15% in the capital of DATHCOM on behalf of COMINIERE.
3. When applying this offer, COMINIERE will promise that any income tax, stamp duty, transfer tax and any other taxes that may arise in Congo (Kinshasa) and any other countries or regions due to the above-mentioned "15% equity return" will be borne by COMINIERE bear.
3. Pursuant to this Offer, COMINIERE will undertake to pay any income tax, stamp duty, transfer duty and any other tax or duty which may arise in the DRC and in any other | country or region following the aforementioned “15% Share Retrocession”.
4. Both parties and their directors, managers, employees, and agents shall keep this letter and this offer strictly confidential. without the prior written consent of the parties
shall not disclose any information, knowledge,
Discussion, negotiation or progress.
4. Both parties and its directors, officers, employees and agents shall keep this letter and this Offer in strict confidence. No information, knowledge, discussions, negotiations or developments between the parties of which they are aware in connection with this Offer, the Joint Venture Agreement and all transactions and documents relating thereto will be disclosed without the prior written consent of each party.
This offer is valid for a period of 60 days ("Validity Period") from the date of receipt of this offer by COMINIERE. If COMINIERE accepts this offer, it must be signed and signed in the signature box before the expiry of the validity period. Otherwise, unless Zijin Mining chooses otherwise, this offer will automatically lapse.
The validity of this Offer is 60 days (“the Validity”) from the date of its receipt by COMINIERE. In the event of acceptance of this Offer by COMINIERE, the latter must acknowledge receipt and sign on the signature page before the expiry of the Validity period. Otherwise, this Offer will be considered automatically null and void, unless Zijin Mining decides otherwise.
5/6
This was the part of the Zijin letter with the proposition to acquire 70% of 13359 north, which is not possible anymore, blocked by re-uniting 13359 to one lease.
However Zijin makes it abundantly clear here, that it has no intention to hand the 15% of Dathcom back to Cominière and be mister nice guy.
I think it is the problem, which will not be solved without Presidential intervention.
