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Gold/Mining/Energy : Altair Nanotechnologies
ALTI 4.797+2.5%Dec 24 12:59 PM EST
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To: Kailash who wrote (498)9/23/1998 10:04:00 AM
From: Rajiv  Read Replies (1) of 603
 
I believe that the arrangement is routine in the mining industry. The clauses of the lease and an appropriate mining license should allow Altair to "exploit" the property. I am not very familiar with the legal aspects.

The terms of the lease include -

The $5.00 U.S. per acre annual lease payment increases to $10.00 per acre in year three, and to $25.00 per acre in year six. The lease payments are credited towards the 5% production royalty.

<standard disclaimer goes here>

Regards.
Rajiv
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