10/1/01 - Management Discussion, Quarter Ended July 31, 2001
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Management Discussion and Analysis For The Quarter Ended July 31, 2001
During the quarter ended July 31, 2001,
the company undertook no exploration or development work
on its mining exploration properties.
... indicated in the notes to the financial statements,
the Corporation has an interest in a joint venture company,
Xingyu Duhua Mining Company Ltd., which was established
on October 27, 1997 by KK Tan International Inc.
and the Fenyi Township Industries Company,
a corporation owned by the government of Fenyi County,
Xingyu City, Jiangxi Province, Peoples' Republic of China.
Under the terms of the joint venture agreement,
the Corporation is obligated to advance a total of S$3,500,000
as payment of the registered capital of Xingyu Dahua.
Although the Corporation has not fully met its funding commitment
within the stipulated time period the Corporation intends
to renegotiate the terms of the agreement in order to more
suitably reflect current gold prices and associated costs
of mining and exploration....
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