Exhibit 10.77

 

AMENDMENT

TO MINING AGREEMENT NUMBER ՊՎ-184 DATED DECEMBER 28, 2012 FOR THE

PURPOSE OF MINERAL MINING

 

 

Yerevan city

 ________ 2015

                                                  

 

Pursuant to the order number ______ of RA minister of energy and natural
resources dated _______ 2015, make amendments and addendums in point 2.1 section
<2.Subject of the agreement> of the agreement number ՊՎ-184 signed with Mego
Gold LLC on December 28, 2012:

 

1.

Words and numbers <for the first 2 years – 76546.55 tons each year by open
method, for 6.5 years – 168500 tons each year by subterranean method> replace
with words and numbers <productivity of the open mine in the first year – 120,0
thousand tons of ore, for the years from 2-4 – 150,0 thousand tons of ore each
year, for the 5th year – 180,0 thousand tons of ore, for the 6th year – 300,0
thousand tons of ore, for the years form 7-25 – 1100,0 thousand tons of ore each
year from mineral bodies N1, N15 and stockwork>;

     

 

2.

Words and numbers <… for the entire period - 1259.4 thousand tons, from which,
in N1 mineral body – 499.8 thousand tons (gold-2709,5kg, silver-12,9 tons), in
N15 mineral body – 759.6 thousand tons (gold-5297,8kg, silver-31,8 tons)>
replace with words and numbers < … for years from 1-6 – 1050,0 thousand tons of
ore, from which, from N1 mineral body – 46,61 thousand tons of ore
(gold-118.71kg, silver-336.6kg), from N15 mineral body 156,16 thousand tons of
ore (gold-243.7kg, silver-1124.4kg), from stockwork-847.27 thousand tons of ore
(gold-348.15kg, silver-972.15kg), for years from 7-25 – 20868300 tons of ore,
from which, from N1 mineral body 573.4 thousand tons of ore (gold-501.74kg,
silver-1420.4kg), from N15 mineral body 610.0 thousand tons of ore (475.31kg,
silver-2192.94kg), from stockwork-19648.9 thousand tons of ore (gold-26775.77kg,
silver-68160.54kg);

 

 
 

--------------------------------------------------------------------------------

 

 

 

3.

In the line <which, on the plan and by depth are limited by the following
coordinates>, the coordinates and words <mineral body N-1 1.X=200,85 Y=89125
Z=2480 (-20,0); 2.X=201,524 Y=89960 Z=2345 (-20,0); mineral body N-15 3.X=200,77
Y=89195 Z=2520 (-20,0); 4.X=201,46 Y=90035 Z=2348 (-20,0)> replace with
<1.X=4502030 Y=8447941 H=2580.0 (h=-220,0), 2.X=4502126 Y=8447831 H=2520,0
(h=-160,0), 3.X=4502532 Y=8448297 H=2410,0 (h=-270,0), 4.X=4502600 Y=8448424
H=2400,0 (h=-270,0), 5.X=4502667 Y=8448417 H=2340.0 (h=-210,0), 6.X=4502785
Y=8448543 H=2300,0 (h=-170,0), 7.X=4502864 Y=8448746 H=2300,0 (h=-170,0),
8.X=4502786 Y=8448841 H=2370.0 (h=-240,0), 9.X=4502619 Y=8448941 H=2430,0
(h=-300,0), 10.X=4502455 Y=8448761 H=2430,0 (h=-300,0), 11.X=4502491 Y=8448518
H=2320,0 (h=-190,0), 12.X=4502358 Y=8448431 H=2450.0 (h=-310,0), 13.X=4502375
Y=8448358 H=2400,0 (h=-260,0)> <ARM WGS-85 system> coordinates:

     

 

3.

In the line <general and companion ingredient content %,g/t, and other>, the
numbers <Au-6.36g/t, Ag-35.49g/t> replace with <Au-1.62g/t, Ag-4.88g/t>.

 

 

The current amendment is considered the inseparable part of mining agreement
number ՊՎ-184 for the purpose of mineral mining.

 

 

 

RA MINISTER OF ENERGY

AND NATURAL RESOURCES

 

ERVAND ZAKHARYAN

 

/signature/seal/

 

____________ 2015

Mine User

Mego Gold LLC

 

ASHOT POGHOSYAN

 

/signature/seal/

 

____________ 2015

 

 
 

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AMENDMENT

TO MINING ALLOCATION ACT NUMBER ԼՎ-184 DATED DECEMBER 28, 2012

 

 

Yerevan city

 24.08.2015          

 

 

Pursuant to the order N 380 – Ա dated August 24, 2015 of RA minister of energy
and natural resources, in the line <delimited with endpoints on mining
allocation plan (X,Y,H/h)> - <<the coordinates of provisional system 1.X=200.335
Y=88.910 H=2705.0(h=-0.0), 2.X=200.790 Y=88.670 H=2496.0 (h=-0.0), 3.X=201.460
Y=88.630 H=225.0 (h=-150.0), 4.X=201.840 Y=88.275 H=2170.0 (h=-0.0), 5.X=202.210
Y=88.125 H=2140.0 (h=-0.0), 6.X=201.925 Y=89.140 H=2200.0 (h=-0.0), 7.X=201.517
Y=89.385 H=2229.0 (h=-129.0), 8.X=201.240 Y=90.490 H=2510.0(h=-210.0),
9.X=201.025 Y=90.560 H=2535.0 (h=-0.0), 10.X=200.490 Y= 89.770 H=2710.0
(h=-0.0)>> , of mining allocation act N ԼՎ-184 of Mego Gold LLC, replace with –

<<1.X=4501543 Y=8446078 H=2620.0(h=0.0), 2.X=4502558 Y=8445579 H=2300.0 (h=0.0),
3.X=4503075 Y=8445708 H=2110.0 (h=0.0), 4.X=4503568 Y=8446927 H=2140.0 (h=0.0),
5.X=4503425 Y=8447433 H=2150.0 (h=0.0), 6.X=4503908 Y=8448386 H=2450.0 (h=0.0),
7.X=4503787 Y=8448622 H=2525.0 (h=0.0), 8.X=4502751 Y=8449305 H=2490.0(h=0.0),
9.X=4502260 Y=8449319 H=2540.0 (h=0.0), 10.X=4501708 Y=8448984 H=2550.0 (h=0.0),
11.X=4501660 Y=8448753 H=540.0 (h=0.0, 12.X=4501692 Y=8447710 H=2610.0 (h=0.0),
including 13.X=4501723 Y=8448011 H=2720.0 (h=-350.0), 14.X=4501945 Y=8447789
H=2650.0 (h=0.0), 15.X=4502159 Y=8447834 H=2500.0 (h=-170.0), 16.X=4503056
Y=8448614 H=2330.0 (h=-200.0), 17.X=4503030 Y=8448912 H=2410.0 (h=-280.0),
18.X=4502818 Y=8449227 H=2500.0 (h=-370.0), 19.X=4502698 Y=8449270 H=2500.0
(h=-370.0), 20.X=4502245 Y=8449230 H=2500.0 (h=-370.0), 21.X=4502374 Y=8448853
H=2390.0 (h=-260.0), 22.X=4502318 Y=8448787 H=2400.0 (h=-270.0), 23.X=4502082
Y=8448692 H=2480.0 (h=-350.0), 24.X=4501805 Y=8448476 H=2690.0 (h=-360.0) ARM
WGS-84 system coordinates>> words and coordinates.

 

 
 

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1)

In the line <mining allocation surface on the plan is>, the words <limited with
226.16 hectares> replace with words <limited with 748.2 hectares>.

 

2)

In the line <the term of mining allocation>, the words <August 5, 2017> replace
with words <July 21, 2040>.

 

 

The current amendment is considered the inseparable part of mining allocation
act N ԼՎ-184.

 

 

RA Minister of Energy

and Natural Resources        /signature/seal/                      ERVAND
ZAKHARYAN

 

 
 

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AMENDMENT

TO MINERAL MINING PERMIT NUMBER ՇԱԹՎ-29/184 DATED DECEMBER 28, 2012

 

 

Yerevan city

 24.08.2015             

     

 

Pursuant to the order N 380-Ա of RA minister of energy and natural resources
dated August 24, 2015, in the mining permit N ՇԱԹՎ-29/184 of Mego Gold LLC –

 

-

In the line <Issue year, month, day> the words and numbers <August 5, 2017>
replace with words and numbers <July 21, 2040>:

     

 

-

In the line <Provided reserves estimates by categories> the words and numbers
<1259.4 thousand tons, from N1 mineral body – 499.8 thousand tons, from N15
mineral body – 759.6 thousand tons> replace with words and numbers < … for years
from 1-6 – 1050,0 thousand tons of ore, from which, from N1 mineral body – 46,61
thousand tons of ore (gold-118.71kg, silver-336.6kg), from N15 mineral body
156,16 thousand tons of ore (gold-243.7kg, silver-1124.4kg), from
stockwork-847.27 thousand tons of ore (gold-348.15kg, silver-972.15kg), for
years from 7-25 – 20868.3 tons of ore, from which, from N1 mineral body 573.4
thousand tons of ore (gold-501.74kg, silver-1420.4kg), from N15 mineral body
610.0 thousand tons of ore (475.31kg, silver-2192.94kg), from stockwork-19648.9
thousand tons of ore (gold-26775.77kg, silver-68160.54kg);

     

 

-

In the line <Annual productivity of the ore>, the words and numbers <for the
first 2 years – 76546.55 tons each year by open method, for 6.5 years – 168.500
tons each year by subterranean method> replace with words and numbers
<productivity of the open mine in the first year – 120,0 thousand tons of ore,
for the years from 2-4 – 150,0 thousand tons of ore each year, for the 5th year
– 180,0 thousand tons of ore, for the 6th year – 300,0 thousand tons of ore, for
the years form 7-25 – 1100,0 thousand tons of ore each year from mineral bodies
N1, N15 and stockwork>:

 

 
 

--------------------------------------------------------------------------------

 

 

 

-

In the line <Endpoint coordinates of provided section>, coordinates and words
<mineral body N-1 1.X=200,85 Y=89125 H=2480 (-20,0); 2.X=201,524 Y=89960 H=2345
(-20,0); mineral body N-15 3.X=200,77 Y=89195 H=2520 (-20,0); 4.X=201,46 Y=90035
H=2348 (-20,0)> replace with <1.X=4502030 Y=8447941 H=2580.0 (h=-220,0),
2.X=4502126 Y=8447831 H=2520,0 (h=-160,0), 3.X=4502532 Y=8448297 H=2410,0
(h=-270,0), 4.X=4502600 Y=8448424 H=2400,0 (h=-270,0), 5.X=4502667 Y=8448417
H=2340.0 (h=-210,0), 6.X=4502785 Y=8448543 H=2300,0 (h=-170,0), 7.X=4502864
Y=8448746 H=2300,0 (h=-170,0), 8.X=4502786 Y=8448841 H=2370.0 (h=-240,0),
9.X=4502619 Y=8448941 H=2430,0 (h=-300,0), 10.X=4502455 Y=8448761 H=2430,0
(h=-300,0), 11.X=4502491 Y=8448518 H=2320,0 (h=-190,0), 12.X=4502358 Y=8448431
H=2450.0 (h=-310,0), 13.X=4502375 Y=8448358 H=2400,0 (h=-260,0)> <ARM WGS-85
system> coordinates:

 

 

The current amendment is considered the inseparable part of mineral mining
permit N ՇԱԹՎ-29/184.

 

 

RA Minister of Energy

 

and Natural Resources          /signature/seal/                        ERVAND
ZAKHARYAN

 

 
 

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ORDER

OF RA MINISTER OF ENERGY AND NATURAL RESOURCES

August 24, 2015, N 380-Ա

ABOUT MAKING AMENDMENTS

IN CERTIFIED DOCUMENTS OF MINING RIGHT

 

 

Guided by RA law on natural resources article 59 point 4, grounded by RA civil
law article 441 part 2, decision number 234 of agency of mineral resources of RA
ministry of energy and natural resources staff dated October 30, 2009, note
number Ֆ-151/15 “Republican geological fund” SNCO dated July 23, 2015 and taking
into consideration the note number MG-58/15 of “Mego Gold” LLC dated July 17,
2015, I

 

 

ORDER TO

 

 

 

1.

Make amendments and addendums in permit number ՇԱԹՎ-29/184, of “Mego Gold” LLC
dated December 28 2012, for the purpose of mining in Central area of Toukhmanuk
gold mine, Aragatsotn region:

     

 

1)

Prolong the term for 25 years stating it until July 21, 2040.

     

 

2)

In the line <Provided reserves estimates by categories> the words and numbers
<1259.4 thousand tons, from which, in N1 mineral body – 499.8 thousand tons
(gold-2709,5kg, silver-12,9 tons), in N15 mineral body – 759.6 thousand tons
(gold-5297,8kg, silver-31,8 tons)> replace with words and numbers < … for years
from 1-6 – 1050,0 thousand tons of ore, from which, from N1 mineral body – 46,61
thousand tons of ore (gold-118.71kg, silver-336.6kg), from N15 mineral body
156,16 thousand tons of ore (gold-243.7kg, silver-1124.4kg), from
stockwork-847.27 thousand tons of ore (gold-348.15kg, silver-972.15kg), for
years from 7-25 – 20868300 tons of ore, from which, from N1 mineral body 573.4
thousand tons of ore (gold-501.74kg, silver-1420.4kg), from N15 mineral body
610.0 thousand tons of ore (475.31kg, silver-2192.94kg), from stockwork-19648.9
thousand tons of ore (gold-26775.77kg, silver-68160.54kg);

 

 
 

--------------------------------------------------------------------------------

 

 

 

3)

In the line <Annual productivity of the ore>, the words and numbers <for the
first 2 years – 76546.55 tons each year by open method, for 6.5 years – 168.500
tons each year by subterranean method> replace with words and numbers
<productivity of the open mine in the first year – 120,0 thousand tons of ore,
for the years from 2-4 – 150,0 thousand tons of ore each year, for the 5th year
– 180,0 thousand tons of ore, for the 6th year – 300,0 thousand tons of ore, for
the years form 7-25 – 1100,0 thousand tons of ore each year from mineral bodies
N1, N15 and stockwork>:

     

 

4)

In the line <Endpoint coordinates of provided section>, coordinates and words
<mineral body N-1 1.X=200,85 Y=89125 H=2480 (-20,0); 2.X=201,524 Y=89960 H=2345
(-20,0); mineral body N-15 3.X=200,77 Y=89195 H=2520 (-20,0); 4.X=201,46 Y=90035
H=2348 (-20,0)> replace with <1.X=4502030 Y=8447941 H=2580.0 (h=-220,0),
2.X=4502126 Y=8447831 H=2520,0 (h=-160,0), 3.X=4502532 Y=8448297 H=2410,0
(h=-270,0), 4.X=4502600 Y=8448424 H=2400,0 (h=-270,0), 5.X=4502667 Y=8448417
H=2340.0 (h=-210,0), 6.X=4502785 Y=8448543 H=2300,0 (h=-170,0), 7.X=4502864
Y=8448746 H=2300,0 (h=-170,0), 8.X=4502786 Y=8448841 H=2370.0 (h=-240,0),
9.X=4502619 Y=8448941 H=2430,0 (h=-300,0), 10.X=4502455 Y=8448761 H=2430,0
(h=-300,0), 11.X=4502491 Y=8448518 H=2320,0 (h=-190,0), 12.X=4502358 Y=8448431
H=2450.0 (h=-310,0), 13.X=4502375 Y=8448358 H=2400,0 (h=-260,0)> <ARM WGS-84
system> coordinates:

     

 

5)

In the line <delimited with endpoints on mining allocation plan (X,Y,H/h)> -
<<the coordinates of provisional system 1.X=200.335 Y=88.910 H=2705.0(h=-0.0),
2.X=200.790 Y=88.670 H=2496.0 (h=-0.0), 3.X=201.460 Y=88.630 H=225.0 (h=-150.0),
4.X=201.840 Y=88.275 H=2170.0 (h=-0.0), 5.X=202.210 Y=88.125 H=2140.0 (h=-0.0),
6.X=201.925 Y=89.140 H=2200.0 (h=-0.0), 7.X=201.517 Y=89.385 H=2229.0
(h=-129.0), 8.X=201.240 Y=90.490 H=2510.0(h=-210.0), 9.X=201.025 Y=90.560
H=2535.0 (h=-0.0), 10.X=200.490 Y= 89.770 H=2710.0 (h=-0.0)>> , of mining
allocation act N ԼՎ-184 of Mego Gold LLC, replace with –

 

 
 

--------------------------------------------------------------------------------

 

 

<<1.X=4501543 Y=8446078 H=2620.0(h=0.0), 2.X=4502558 Y=8445579 H=2300.0 (h=0.0),
3.X=4503075 Y=8445708 H=2110.0 (h=0.0), 4.X=4503568 Y=8446927 H=2140.0 (h=0.0),
5.X=4503425 Y=8447433 H=2150.0 (h=0.0), 6.X=4503908 Y=8448386 H=2450.0 (h=0.0),
7.X=4503787 Y=8448622 H=2525.0 (h=0.0), 8.X=4502751 Y=8449305 H=2490.0(h=0.0),
9.X=4502260 Y=8449319 H=2540.0 (h=0.0), 10.X=4501708 Y=8448984 H=2550.0 (h=0.0),
11.X=4501660 Y=8448753 H=540.0 (h=0.0, 12.X=4501692 Y=8447710 H=2610.0 (h=0.0),
including 13.X=4501723 Y=8448011 H=2720.0 (h=-350.0), 14.X=4501945 Y=8447789
H=2650.0 (h=0.0), 15.X=4502159 Y=8447834 H=2500.0 (h=-170.0), 16.X=4503056
Y=8448614 H=2330.0 (h=-200.0), 17.X=4503030 Y=8448912 H=2410.0 (h=-280.0),
18.X=4502818 Y=8449227 H=2500.0 (h=-370.0), 19.X=4502698 Y=8449270 H=2500.0
(h=-370.0), 20.X=4502245 Y=8449230 H=2500.0 (h=-370.0), 21.X=4502374 Y=8448853
H=2390.0 (h=-260.0), 22.X=4502318 Y=8448787 H=2400.0 (h=-270.0), 23.X=4502082
Y=8448692 H=2480.0 (h=-350.0), 24.X=4501805 Y=8448476 H=2690.0 (h=-360.0) ARM
WGS-84 system coordinates>> words and coordinates.

 

 

 

2.

To chief of staff of agency of provision of natural resources;

     

 

1)

Make amendments during 2 days pursuant to point 1 of the current order in the
agreement number ՊՎ-184 signed with the company on December 28, 2012 and notify
the company to ratify the amendments made in the agreement in 10 days after
receiving the order.

     

 

2)

In 10 day term after the company ratifies the amendments made in the agreement,
issue the company amended hard copies of mineral mining permit, agreement,
mining allocation act:

     

 

3)

Notify the company, that in case of failing to ratify the amendments of the
agreement in the stated term and not receiving the package of amendments of
mining rights, the current order shall be considered void:

     

 

4)

Provide implementation of corresponding records in registry of mining right
register.

 

 
 

--------------------------------------------------------------------------------

 

 

 

3.

To the director of “Republican geological fund” SNCO – provide implementation of
corresponding records arising from the current order in fund documents in three
day term after receiving the package of documents from the agency of provision
of natural resources.

     

 

4.

The current order can be appealed through administrative procedures or by
administrative court in 2 month term after entering into legal force.

     

 

5.

Leave the supervision of implementation of the current order to chief of staff
of RA ministry of energy and natural resources.

 

 

 

 

/signature/seal/                                                                      
       ERVAND ZAKHARYAN