To: tyc:> who wrote (60025 ) 6/26/2008 2:31:21 PM From: onepath Read Replies (1) | Respond to of 78411 LYM.v So this was the driver...coal in the Ukraine.That is a long way from home.So I sold most today and added to my TRX and TRX.wt. Lysander Minerals gets option to acquire Ukraine Energy 2008-06-26 12:42 ET - News Release Mr. Bryce Porter reports LETTER AGREEMENT SIGNED WITH UKRAINE COAL Lysander Minerals Corp. has signed a letter agreement with Ukraine Coal Ltd., of London, England. Under the terms of this agreement, Lysander has the right to enter into an option agreement to purchase all of the issued and outstanding shares of Ukraine Energy Ltd., a wholly owned subsidiary of Ukraine Coal, which owns 51 per cent of the issued and outstanding shares of East Coal Company Ltd. and holds the right to acquire the remaining 49 per cent of East Coal. If the option is exercised, consideration of $12-million, comprising $6-million in cash and a $6-million interest-bearing convertible note, will be payable to Ukraine Coal. The convertible note, which is redeemable in whole or in part after a period of one year, may be converted to Lysander shares at a price of $1 per common share. A good faith deposit of $100,000 is payable, of which $75,000 is refundable, while it completes the necessary due diligence. East Coal has acquired mineral rights and assets of the Verticalnaya coal mine in the Lugansk region of Ukraine. The mine was placed on care and maintenance after a period of low production following the breakdown of the Soviet Union. The company will now review, inter alia, plans for the reopening of the mine on a significantly expanded basis. It will also review environmental approvals, and progress on other approvals and rights needed for construction and operations. The mine produced anthracite, a high-quality, premium-priced coal. Ukraine Coal has arranged for the preparation of an NI 43-101 technical report. We seek Safe Harbor.