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Gold/Mining/Energy : JAB International (JABI)

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To: Charger who wrote (3506)	4/17/1998 6:31:00 PM
From: DDS-OMS	Read Replies (1) of 4571

Charger, Only those mines that Sterling money was spent to develop/explore will Sterling get a 49% cut of profit 3 years hence. If BCMD spends its money--money from sale of gold or money raised through equity financing or simply borrowing--Sterling gets none of that, BUT they have some kind of option to buy into it. Don't know how this is structured--does Sterling put up 49% of development cost of a mine? If so, then BCMD takes all the risk and Sterling would buy in only if profitable. The particulars of this JV agreement haven't been made public, so can only try to get answers to questions.

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