CA Filed by Filing Services Canada Inc. 403-717-3898





 


 


Joint Venture Agreement


 


Energizer Resources Inc.


Energizer


 


Malagasy Minerals Limited


ACN 121 700 105


Malagasy


 


Madagascar-ERG Joint Venture (Mauritius) Ltd


Company Number: 106367


JV Company


 


 


 



	 	 	 	 	 
	
Jackson McDonald

	t:	
0+61 8 9426 6611

	
Contact:

	Will Moncrieff
	
Lawyers

	f:	
+61 8 9481 8649

	
Reference:

	7141864
	
140 St Georges Terrace

	w:	
www.jacmac.com.au

	 	 
	Perth Western Australia 6000	 	 	 	 





 




  





  











  




 


Joint Venture Agreement








 




Table of contents


 





	
1

	
Interpretation

	
1


	  	
1.1

	
Definitions

	
1


	  	
1.2

	
Interpretation

	
11


	
2

	
Commencement

	
13


	
3

	
Consideration

	
13


	  	
3.1

	
Deposit paid

	
13


	  	
3.2

	
Cash and Share Consideration

	
13


	  	
3.3

	
Payment and issue

	
13


	
4

	
Provision of Mining Information

	
14


	
5

	
Acknowledgements by Parties

	
14


	
6

	
Establishment of JV Company and its Board

	
15


	  	
6.1

	
Establishment

	
15


	  	
6.2

	
Initial Shareholding Interests

	
15


	  	
6.3

	
Adoption of constituent document

	
15


	  	
6.4

	
Board members

	
15


	  	
6.5

	
Appointment and removal of Directors

	
15


	  	
6.6

	
Role and powers of the Board

	
16


	  	
6.7

	
Meetings of the Board

	
16


	  	
6.8

	
Notice of Board meetings

	
17


	  	
6.9

	
Quorum

	
17


	  	
6.1

	
Decisions of the Boards

	
17


	  	
6.11

	
Voting

	
17


	  	
6.12

	
Experts and advisers

	
17


	  	
6.13

	
Minutes of meetings and records

	
18


	
7

	
Establishment of MadagascarCo

	
18


	  	
7.1

	
Establishment

	
18


	  	
7.2

	
Management of MadagascarCo

	
18


	  	
7.3

	
Appointment and removal

	
18


	  	
7.4

	
Role of Company Manager

	
19


	  	
7.5

	
Adoption of constituent document

	
19


	
8

	
Business of the JV Company and MadagascarCo

	
19


	
9

	
Co-operation of Shareholders

	
19







 




  





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Joint Venture Agreement













 



	
10

	
Right to explore and sublease

	
20


	  	
10.1

	
Grant of Subleases

	
20


	  	
10.2

	
Covenants of Permit Holders in respect of the Exploration Permits

	
21


	  	
10.3

	
Covenants in respect of the Exploration Permits

	
21


	  	
10.4

	
Remedies of Energizer

	
22


	  	
10.5

	
Exercise of Industrial Mineral Rights

	
22


	  	
10.6

	
Notice of activities

	
23


	  	
10.7

	
Mutual indemnities

	
23


	
11

	
Surrender of Exploration Permits

	
24


	
12

	
Transfer of Permits

	
24


	
13

	
Bankable Feasibility Study and Decision to Mine

	
25


	  	
13.1

	
Bankable Feasibility Study

	
25


	  	
13.2

	
Decision to Mine

	
25


	  	
13.3

	
Election to participate and formation of mining joint venture

	
26


	  	
13.4

	
Establishment of Mining Area

	
26


	  	
13.5

	
Holding of Mining Area

	
26


	  	
13.6

	
Mining Area ceases to be Joint Venture Property

	
27


	  	
13.7

	
Transfer of Mining Area

	
27


	  	
13.8

	
Terms of Mining Joint Venture

	
27


	  	
13.9

	
Agreement

	
28


	
14

	
Conversion to Exploitation Permits

	
28


	  	
14.1

	
Conversion

	
28


	  	
14.2

	
Transfer of Exploitation Permits

	
28


	  	
14.3

	
Holding of Exploitation Permits

	
29


	  	
14.4

	
Approval of Mining Department

	
29


	  	
14.5

	
Option of Permit Holders to transfer Exploration Permits prior to conversion

	
29


	
15

	
Environment and Mining Operations

	
29


	
16

	
Other Mineral Rights

	
30


	  	
16.1

	
Holder of Permits and Other Mineral Rights

	
30


	  	
16.2

	
Priority of exercise of Industrial Mineral Rights by JV Company

	
30


	  	
16.3

	
Exercise of Other Mineral Rights by the Permit Holders

	
30


	  	
16.4

	
Suspension of Other Mineral Rights for duration of Mining Operations

	
30


	  	
16.5

	
Transfer of Other Mineral Rights

	
31


	  	
16.6

	
Transfer of Industrial Mineral Rights

	
31


	  	
16.7

	
Co-mingling

	
31







 




  





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17

	
Operator

	
32


	  	
17.1

	
First Operator

	
32


	  	
17.2

	
Functions of the Operator

	
32


	  	
17.3

	
Operator to prepare Programs and Budgets

	
32


	  	
17.4

	
Liability of Operator

	
33


	  	
17.5

	
Indemnity of Operator

	
33


	  	
17.6

	
Preserve Permits

	
33


	  	
17.7

	
Reporting

	
33


	  	
17.8

	
Change of Operator

	
33


	
18

	
Contributions to Joint Venture Costs

	
33


	
19

	
Right to dilute

	
34


	  	
19.1

	
Election not to fund

	
34


	  	
19.2

	
Contributions where election not to fund

	
34


	  	
19.3

	
Dilution

	
35


	
20

	
Disposal of Shares and pre-emption rights

	
38


	
21

	
Drag along

	
38


	
22

	
Tag along

	
38


	
23

	
Interest below 10%

	
39


	
24

	
Representations and warranties

	
39


	  	
24.1

	
Representations and warranties by Energizer

	
39


	  	
24.2

	
Representations and warranties by Malagasy

	
40


	  	
24.3

	
Disclaimer of liability by Malagasy

	
41


	
25

	
Guarantee by Malagasy

	
42


	
26

	
Guarantee by Energizer

	
42


	
27

	
Assignment

	
42


	
28

	
Termination

	
42


	  	
28.1

	
Termination events

	
42


	  	
28.2

	
Event of Default

	
43


	  	
28.3

	
Effect of termination

	
43


	  	
28.4

	
Continuing remedies

	
43


	
29

	
Force Majeure

	
44


	  	
29.1

	
Force Majeure

	
44


	  	
29.2

	
Relief

	
44


	  	
29.3

	
Labour disputes

	
44


	  	
29.4

	
Resumption

	
45


	
30

	
Dispute resolution

	
45


	  	
30.1

	
Application

	
45


	  	
30.2

	
Dispute negotiation

	
45


	  	
30.3

	
Arbitration

	
46


	  	
30.4

	
Urgent relief

	
46


	  	
30.5

	
Continued performance

	
46







 




  





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31

	
Disputes as to Technical or Financial Matters

	
46


	  	
31.1

	
Definitions

	
46


	  	
31.2

	
Application

	
46


	  	
31.3

	
Dispute negotiation

	
46


	  	
31.4

	
Independent Expert

	
47


	
32

	
Expert Determination

	
47


	  	
32.1

	
Referral to Independent Expert

	
47


	  	
32.2

	
Appointment of Independent Expert

	
47


	  	
32.3

	
Requirements of Independent Expert

	
47


	  	
32.4

	
Rights of the Parties

	
48


	  	
32.5

	
Confidentiality

	
48


	  	
32.6

	
Determination

	
48


	  	
32.7

	
Costs of Independent Expert

	
48


	
33

	
Status of Agreement and further acts

	
49


	
34

	
Relationship between Parties

	
49


	
35

	
Confidentiality and public announcements

	
50


	  	
35.1

	
Confidentiality

	
50


	  	
35.2

	
Conditions

	
51


	  	
35.3

	
Notice to other Shareholders

	
52


	  	
35.4

	
Indemnities

	
52


	  	
35.5

	
Survival of confidentiality obligations

	
52


	  	
35.6

	
Use of Mining Information in respect to Other Mineral Rights

	
52


	
36

	
Notices

	
52


	
37

	
Miscellaneous

	
53


	  	
37.1

	
Governing law

	
53


	  	
37.2

	
Amendments

	
54


	  	
37.3

	
Primacy of this Agreement

	
54


	  	
37.4

	
Language

	
54


	  	
37.5

	
Waiver

	
54


	  	
37.6

	
Consents

	
54


	  	
37.7

	
Counterparts

	
54


	  	
37.8

	
No representation or reliance

	
54


	  	
37.9

	
Expenses

	
55


	  	
37.1

	
Entire agreement

	
55


	  	
37.11

	
Indemnities

	
55


	  	
37.12

	
Severance and enforceability

	
55


	  	
37.13

	
No merger

	
55


	  	
37.14

	
Power of attorney

	
55


	  	
37.15

	
Taxes

	
56





 




  





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Joint Venture Agreement













 



	
Schedule 1 – Exploration Permits and Area of Interest

	
57


	
Schedule 2 – Industrial Minerals

	
58


	
Schedule 3 – Map of Area of Interest

	
59


	
Schedule 4 – Net Smelter Return Royalty

	
60


	
Executed as an agreement

	
64


	
Annexure A – Area of Interest

	
65


	
Annexure B – Form of Mazoto Sublease Agreement

	
66


	
Annexure C – Form of MDA Sublease Agreement

	
67









 




  





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Joint Venture Agreement















 


Date:                                                                            2013




 


Parties


 



	
Energizer Resources Inc.


Energizer


 

	
141 Adelaide Street, West Suite 520, Toronto, Ontario, Canada


	
Malagasy Minerals Limited


ACN 121 700 105


Malagasy


 

	
Unit 7, 11 Colin Grove, West Perth, Western Australia


	
Madagascar-ERG Joint Venture (Mauritius) Ltd


Company Number: 106367


JV Company

	
6th Floor, Newton Tower, Sir William Newton Street, Port Louis, Republic of Mauritius







 


Background


 



	
A.  

	
The Permit Holders are the sole registered holders and beneficial owners of the Exploration Permits.







 



	
B.  

	
By the Heads of Agreement Energizer and Malagasy agreed to participate in a joint venture in relation to the Industrial Mineral Rights subject to Energizer being satisfied with the outcome of due diligence enquiries in relation to the Permit Holders and the Permits.







 



	
C.  

	
Energizer has completed its due diligence enquiries and is satisfied with the outcome of these enquiries.







 



	
D.  

	
This Agreement supersedes and replaces the Heads of Agreement.







 


Agreement


 



	
1.  

	
Interpretation







 



	
1.1  

	
Definitions







 


In this Deed, unless the context requires otherwise, the following expressions will have the following meanings:


 



	
Accession Deed

	
a deed between the Parties to this Agreement and a third party pursuant to which the third party assumes the obligations of the assigning Party to the extent of the interest being assigned to the third party as if the third party was an original party to this Agreement and is otherwise in a form satisfactory to the non-assigning Party, acting reasonably.


	 	 
	
Agreement

	
this agreement.


	 	 



 




  





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Area of Interest

	
the areas of the Exploration Permits described in Annexure A and identified by the area within the green line of the map at Schedule 3.


	 	 
	
Bankable Feasibility Study

	
a detailed report or reports prepared by or on behalf of Energizer and/or JV Company evaluating the feasibility of placing mineral deposits within the Area of Interest, or any part thereof, into production and operation as a mine, which detailed report or reports must include, without limitation, a reasonable assessment of the mineable mineral reserves and their amenability to metallurgical treatment, a complete description of the work, equipment and supplies required to bring the mineral deposits within the Area of Interest into mineral production and the estimated cost thereof, a description of the mining methods to be employed and a financial appraisal of possible mining operations.  Such detailed report or reports must be, in the opinion of the person or firm commissioning such report or reports, or, in the event of a dispute between the Parties, in the opinion of such qualified independent firm of consultants as Energizer and/or JV Company selects in good faith, in such form and of such substance which is normally accepted by substantial, recognised financial institutions for the purpose of determining whether to lend funds for the development of mineral deposits, and must include and be supported by at least the following:


 


(a)   a description of the mining claims within the Area of Interest and that part of the mining claims within the Area of Interest proposed to be the subject of a mine;


 


(b)   the estimated recoverable reserves of minerals and the estimated composition and content thereof;


 


(c)   the procedure for the development, mining and production of Industrial Minerals from the mining claims within the Area of Interest;


 


(d)   results of mineral processing tests and ore amenability tests;


 


(e)   the nature and extent of the facilities which might be necessary to acquire or construct, which may include ore processing facilities if the nature, volume and location of the ore makes such ore processing facilities necessary and feasible, in which event the study must also include a design for such ore processing facilities;


 


(f)    a detailed cost and timing analysis, including a capital cost budget, of the total estimated costs and expenses required to develop a mine on the mining claims within the Area of Interest and to purchase, construct and install all structures, machinery, equipment, and electricity connection or generation equipment required for such mine including an ore processing facility, if so included in accordance with the terms hereof;





 




  





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(g)   detailed operating cost estimates, including working capital requirements for the initial three months of operation of the mine or such longer period as may be reasonably justified;


 


(h)   all description of necessary environmental impact and mitigation studies and costs, including planned rehabilitation of the mining claims within the Area of Interest with estimated costs thereof;


 


(i)    a critical path time schedule for bringing the mining claims within the Area of Interest or any part thereof to commercial production;


 


(j)    such other data and information as are reasonably necessary to substantiate the existence of a mineral deposit of sufficient size and grade to justify development of a mine on the  mining claims within the Area of Interest, taking into account all relevant business, tax and other economic considerations;


 


(k)   disclosure of all price assumptions;


 


(l)    a transportation cost analysis;


 


(m)  a proposed procedure or method of disposing of tailings as required under the environmental and mining laws of all Governmental Agencies having jurisdiction;


 


(n)   a detailed discussion and analysis of governmental requirements with respect to the development of a mine on the mining claims within the Area of Interest including time schedules;


 


(o)  details regarding any proposed financing of the project;


 


(p)  a discounted cash flow (net of income taxes) and return on investment analysis, including an economic forecast for the life of the proposed mine; and


 


(q) appropriate sensitivity analyses.


 


	
Board

	
the board of Directors of JV Company or MadagascarCo (as the context requires).


 


	
Business

	
the business of JV Company and MadagascarCo as described in clause 8(a) and such other business as the Shareholders may agree.


 


	
Business Day

	
a day which is not a Saturday, a Sunday or a public holiday in Ontario, Canada or Perth, Western Australia.





 




  





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Claim

	
in relation to a Party, any demand, claim, action or proceeding made or brought by or against the Party, howsoever arising and whether present, unascertained, immediate, future or contingent.


 


	
Confidential Information

	
all information, documents, maps, reports, records, studies, forms, specifications, processes, statements, formulae, trade secrets, drawings and other data (and copies and extracts made of or from any such data) in written or electronic form and whether reduced to writing or not, and at any time in the possession or under the control of or readily accessible to any Party, including the Mining Information, concerning:


 


(a)   the existence or contents of this Agreement;


 


(b)   Joint Venture Property;


 


(c)   Joint Venture Operations;


 


(d)   JV Company;


 


(e)   MadagascarCo;


 


(f)    the operations and transactions of a Party;


 


(g)   the organisation, finance, customers, markets, suppliers, intellectual property and know-how of a Party or a Related Body Corporate of a Party; and


 


(h)   any other information obtained during the Term or in the course of the Joint Venture, that is not in the public domain (except by failure of a Party to perform and observe its covenants and obligations under this Agreement) and that has been obtained by a Party during the negotiations preceding the making of this Agreement or the Heads of Agreement by or through or by being a Party to this Agreement or the Heads of Agreement.


 


	
Country Manager

	
has the meaning in clause 7.2.


 


	
Decision to Mine

	
has the meaning given to that term in clause 13.2(a).


 


	
Director

	
a director of JV Company.





 




  





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Dispose

	
in relation to a person and any property, means to sell, transfer, assign, surrender, create an Encumbrance over, declare oneself a trustee of or part with the benefit or otherwise dispose of that property (or any interest in it or any party of it) whether done before, on or after the person obtains any interest in the property, including without limitation in relation to a share, to enter into a transaction in relation to the share (or any interest in the share) which results in a person other than the registered holder of the share:


 


(a)   acquiring or having an equitable or beneficial interest in the share, including, without limitation, an equitable interest arising under a declaration of trust, an agreement for sale and purchase or an option agreement or an agreement creating a charge or other Encumbrance over the share; or


 


(b)   acquiring or having any right to receive (directly or indirectly) any dividends or other distribution or proceeds of disposal payable in respect of the share or any right to receive an amount calculated by reference to any of them; or


 


(c)   acquiring or having any rights of pre-emption, first refusal or other direct or indirect control over the disposal of the share; or


 


(d)   acquiring or having any rights of (direct or indirect) control over the exercise of any voting rights or rights to appoint Directors attaching to the share; or


 


(e)   otherwise acquiring or having equitable rights against the registered holder of the share (or against a person who directly or indirectly controls the affairs of the registered holder of the shares) which have the effect of placing the other person in substantially the same position as if the person had acquired a legal or equitable interest in the share itself,


 


but excludes:


 


(f)   a transaction expressly permitted by this Agreement; or


 


(g)   a transaction conditional on each Shareholder consenting to it.


 


	
Encumbrance

	
any mortgage, bill of sale, lien, charge, pledge, writ, warrant, production royalty, caveat (and all claims stated in the caveat), assignment by way of security, security interest, title retention, preferential right or trust arrangement, Claim, covenant, profit a pendre, easement, or any other security arrangement or other right or interest of any third party and includes any other arrangement having the same effect.


 


	
Energex

	
Energex SARL, a company incorporated under the laws of Madagascar and a wholly owned subsidiary of Malagasy.


 


	
Energizer

	
Energizer Resources Inc., a company incorporated under the laws Minnesota, United States of Amercia.


 


	
Energizer Share

	
a fully paid ordinary share in the capital of Energizer.


 





 




  





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Environmental Law

	
any law concerning environmental matters which regulates or affects the Permits, and includes, but is not limited to, laws concerning land use, development, pollution, waste disposal, toxic and hazardous substances, conservation of natural or cultural resources and resource allocation including any law relating to exploration for or development of any natural resource.


 


	
Environmental Liability

	
any obligation, expense, penalty or fine under Environmental Law, including rehabilitation and rectification work of whatsoever nature or kind.


 


	
Execution Date

	
the date of execution of this Agreement by the last of the Parties.


 


	
Exploitation Permit

	
a permit granted under the Mining Code in relation to the Area of Interest which gives the holder an exclusive right to exploit authorised minerals, continue exploration and research of such minerals and to build any permanent or temporary structures.


 


	
Exploration

	
all activities and operations that have as their purpose the discovery, location, delineation and further investigation of any Industrial Minerals, Industrial Mineral deposits and ore, including drilling and trenching, the testing or proving of those bodies, the conducting of pre-feasibility, viability and amenability studies and the establishment and the administration of field offices for the performance of any of these functions.


 


	
Exploration Operations

	
all Exploration activities conducted by JV Company and MadagascarCo in accordance with this Agreement.


 


	
Exploration Permits

	
the exploration permits granted under the Mining Code listed in Schedule 1.


 


	
Good Mining Practices

	
in relation to Exploration and Mining, those practices, methods and acts engaged in or approved by a firm or body corporate which, in the conduct of its undertaking, exercises that degree of safe and efficient practice, diligence, prudence, and foresight reasonably and ordinarily exercised by skilled and experienced operators engaged in the mining industry in Ontario, Canada.


 


	
Good Standing

	
in relation to a Permit, that the Permit is and remains in full force and effect and is and remains not liable to cancellation, forfeiture or non-renewal, for any reason other than compulsory partial surrenders under the Mining Code and the non-renewal of a Permit other than by reason of default by the holder of the Permit but does not include anything that occurs as a result of the current political situation in Madagascar including as a result of the current moratorium on renewal or transfer of Permits.


 





 




  





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Governmental Agency

	
any government or any governmental, semi-governmental, administrative, fiscal or judicial body, responsible minister, department, office, commission, delegate, authority, instrumentality, tribunal, board, agency, entity or organ of government, whether federal, state, territorial or local, statutory or otherwise, in respect of a sovereign state and includes any of them purporting to exercise any jurisdiction or power outside that sovereign state.


 


	
Heads of Agreement

	
the document entitled “Joint Venture Heads of Agreement” dated 5 October 2011 between Energizer and Malagasy.


 


	
Independent Expert

	
an expert independent of the Parties appointed under and for the purposes of clause 32.


 


	
Industrial Minerals

	
the minerals listed in Schedule 2 of this Agreement.


 


	
Industrial Mineral Rights

	
all Mineral Rights with respect to Industrial Minerals.


 


	
Joint Venture

	
the joint venture constituted by this Agreement for the Exploration of, and if warranted, the Mining of the Area of Interest, to be conducted by JV Company and MadagascarCo pursuant to this Agreement.


 


	
Joint Venture Costs

	
all costs, expenses and liabilities incurred in connection with Joint Venture Operations including:


 


(a) all costs of establishing and maintaining JV Company and MadagascarCo;


 


(b) the costs of conducting Exploration Operations (including any Minimum Expenditure Obligations);


 


(c) the costs of conducting Mining Operations;


 


(d) all rents, fees and taxes applicable to the Permits;


 


(e) all Outgoings in relation to Permits;


 


(f) the cost of all personnel engaged in the conduct of Joint Venture Operations;


 


(g) the cost of all items of plant, equipment, machinery and vehicles used in connection with Joint Venture Operations;


 


(h) a charge (not including any element of profit) for administrative and overhead expenses incurred by the Operator, at a rate not exceeding 10% of items of expense referred to in this definition;


 


(i) any costs of procuring and maintaining any insurance required for the conduct of Joint Venture Operations in accordance with good industry practice;


 


(j) administrative, overhead, office and employment costs and expenses incurred in connection with the conduct of Joint Venture Operations; and


 


(k) domestic and international travel expenses incurred in connection with the conduct of Joint Venture Operations.


 





 




  





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Joint Venture Operations

	
all activities of the Joint Venture under this Agreement including Exploration Operations and if applicable, Mining Operations.


 


	
Joint Venture Property

	
all property of whatsoever kind held or hereafter acquired or created by or on behalf of JV Company or MadagascarCo for the purposes of the Joint Venture including (without limitation):


 


(a) the Industrial Mineral Rights;


 


(b) rights under any Sublease;


 


(c) any Permits held by JV Company or MadagascarCo; and


 


(d) Mining Information.


 


	
Labradorite Subleases

	
the following subleases entered into by MDA for the purposes of exploring for and exploiting labradorite:


 


(a) sublease agreement between MDA and Magrama SA dated 17 November 2005;


 


(b) sublease agreement between MDA and SQNY International SARL dated 3 November 2006 as amended by agreement dated 3 December 2010; and


 


(c) sublease agreement between MDA and Euromad Minière SARL dated 17 November 2005.


 


	
Law

	
any statute, ordinance, code, regulation, law, by-law, local law, plan, planning scheme, local structure plan, official directive, order, instrument, undertaking, judicial, administrative or regulatory decree, judgement, ruling or order.


 


	
Madagascar

	
the Republic of Madagascar.


 


	
Madagascar Development JV Company

	
has the meaning in clause 13.5(b).


 


	
MadagascarCo

	
the company incorporated or to be incorporated under the laws of Madagascar as described in clause 7 and known as ERG (Madagascar) Ltd.


 


	
Madagascan Government

	
the government of Madagascar.


 


	
Malagasy

	
Malagasy Minerals Limited ACN 121 700 105, a company incorporated under the laws of Australia.





 




  





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Material Adverse Effect

	
an unfavourable or adverse event, occurrence or circumstance, or the result thereof, that causes the actual value of Area of Interest or the Industrial Mineral Rights to be materially impaired or devalued but does not include anything that occurs as a result of the current political situation in Madagascar including as a result of the current moratorium on renewal or transfer of Permits.


 


	
Mauritian Development JV Company

	
has the meaning in clause 13.5(b).


 


	
Mauritius

	
the Republic of Mauritius.


 


	
Mazoto

	
Mazoto Minerals SARL, a company incorporated under the laws of Madagascar and a wholly owned subsidiary of Malagasy.


 


	
Mazoto Sublease Agreements

	
sublease agreements to be entered into by Mazoto and MadagascarCo in relation to the relevant area / squares of each Exploration Permit held by Mazoto within the Area of Interest, in the form set out at Annexure B.


 


	
MDA

	
means Mada-Aust SARL, a company incorporated under the laws of Madagascar and a wholly owned subsidiary of Malagasy.


 


	
MDA Sublease Agreements

	
sublease agreements to be entered into by MDA and MadagascarCo in relation to the relevant area / squares of each Exploration Permit held by MDA within the Area of Interest, in the form set out at Annexure C.


 


	
Mineral Rights

	
the right to explore for and mine minerals within the Area of Interest in accordance with the Permits.


 


	
Minimum Expenditure Obligations

	
the minimum expenditure which the holder of a Permit is required under the Mining Code to incur in respect of that Permit in any given year.


 


	
Mining

	
all work of or associated with extraction of Industrial Mineral deposits by way of commercial exploitation, including all preparatory development and incidental work (other than Exploration) and to the extent agreed between the Parties may include extraction, beneficiation, transportation, refining, processing and marketing of minerals, including ore concentrates, matte and metals produced.


 


	
Mining Area

	
the area of the Area of Interest determined under clause 13.4.





 




  





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Mining Code

	
the body of legal provisions in force in Madagascar contained in the Law no 99-022 of 19/08/1999 containing the Mining Code as amended by Law no 2005-021 of 17/10/2005 as well as Decree no 2006-910 of 19/12/2006 setting out the conditions of application of the Law no 99-022 of 19/08/1999 as amended by Law no 2005-021 of 17/10/2005, as amended from time to time.


 


	
Mining Department

	
Bureau du Cadastre Minier de Madagascar (the Madagascar Mining Registry Office), also known as the BCMM.


 


	
Mining Information

	
all technical information including (without limitation) geological, geochemical and geophysical reports, surveys, mosaics, aerial photographs, samples, drill cores, drill logs, drill pulp, assay results, maps and plans relating to the Industrial Minerals in the Area of Interest or to Joint Venture Operations, whether in physical, written or electronic form.


 


	
Mining Operations

	
all Mining activities conducted by JV Company and MadagascarCo under this Agreement.


 


	
NewCo Madagascar

	
has the meaning in clause 13.3(b).


 


	
NewCo Mauritius

	
has the meaning in clause 13.3(b).


 


	
Operator

	
the person appointed as operator in accordance with clause 17 for the purposes of managing, directing and controlling any and all Joint Venture Operations on behalf of and as agent for JV Company, MadagascarCo and the Shareholders.


 


	
Other Mineral Rights

	
all Mineral Rights other than the Industrial Mineral Rights.


 


	
Other Minerals

	
all other minerals other than the Industrial Minerals.


 


	
Outgoings

	
all rents, rates, survey fees and other fees and charges under the applicable legislation or otherwise in connection with a Permit.


 


	
Parties

	
the parties to this Agreement and Party means any one of them.





 




  





 Page 10











  




 



Joint Venture Agreement













 


	
Permit Holders

	
MDA, Mazoto and Energex.


	
Permits

	
 


(a) Exploration Permits;


 


(b) Exploitation Permits;


 


(c) any licence, concession, permit or tenement which may hereafter be in force or issued in lieu of or in relation to the same ground as the permits referred to in paragraphs (a) or (b) of this definition;


 


(d) any permit, concession, licence or tenement that is a successor, renewal, modification, extension or substitute for the permits referred to in paragraphs (a), (b) or (c) of this definition; and


 


(e) all rights to mine and other privileges appurtenant to the mining tenements and all ore and mineral-bearing material, sand, slimes, tailings and residues of whatsoever nature located on and under the land the subject of a licence, concession, permit or tenement referred to in paragraphs (a), (b), (c) or (d) of this definition.


 


	
Programs and Budgets

	
a program and budget for the conduct of Joint Venture Operations.


 


	
Related Body Corporate

	
in relation to a Party, a corporation that is:


 


(a) a holding company of the Party;


 


(b) a subsidiary of the Party; or


 


(c) a subsidiary of a holding company of the Party.


 


	
Respective Proportion

	
in respect of a Shareholder, a proportion equal to the proportion (by value) of the issued capital of JV Company or NewCo Mauritius (as the context requires) held by that Shareholder from time to time.


 


	
Share

	
a share in the capital of JV Company or NewCo Mauritius (as the context requires).


 


	
Shareholder

	
a holder of Shares.


 


	
Shareholding Interest

	
a direct interest in Shares.


 


	
SIAC

	
the Singapore International Arbitration Centre.


	
Simple Majority

	
 


(a) in relation to a resolution of Directors, a resolution that is passed by an affirmative vote of more than 50% of the votes cast by Directors entitled to vote on the resolution; and


 


(b) in relation to a resolution of Shareholders, a resolution that is passed by an affirmative vote of more than 50% of the votes cast by Shareholders entitled to vote on the resolution.


 


	
Sublease

	
has the meaning given to that term in clause 10.1.


 


	
Sublease Agreements

	
means either or both of the MDA Sublease Agreements and the Mazoto Sublease Agreements (as the context requires).


 


	
Term

	
the period from the Execution Date to the termination of this Agreement in accordance with its provisions.







 





	
1.2  

	
Interpretation







 



	
(a)  

	
headings are for convenience; and







 




  





 Page 11











  




 



Joint Venture Agreement













 


unless the context indicates otherwise:


 



	
(b)  

	
an obligation or a liability assumed by, or a right conferred on, 2 or more persons binds or benefits them jointly and severally;







 



	
(c)  

	
a word or phrase in the singular number includes the plural, a word or phrase in the plural number includes the singular, and a word indicating a gender includes every other gender;







 



	
(d)  

	
if a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding meaning;







 



	
(e)  

	
a reference to:







 



	
(i)  

	
a party, clause, schedule, exhibit, attachment or annexure is a reference to a party, clause, schedule, exhibit, attachment or annexure to or of this Agreement;







 



	
(ii)  

	
a party includes that party’s executors, administrators, successors, permitted assigns, including persons taking by way of novation and, in the case of a trustee, includes a substituted or an additional trustee;







 



	
(iii)  

	
an agreement includes any undertaking, deed, agreement and legally enforceable arrangement whether in writing or not, and is to that agreement as varied, novated, ratified or replaced from time to time;







 



	
(iv)  

	
a document includes an agreement in writing and any deed, certificate, notice, instrument or document of any kind;







 



	
(v)  

	
a document in writing includes a document recorded by any electronic, magnetic, photographic or other medium by which information may be stored or reproduced;







 



	
(vi)  

	
a document (including this Agreement) includes a reference to all schedules, exhibits, attachments and annexures to it, and is to that document as varied, novated, ratified or replaced from time to time;







 



	
(vii)  

	
legislation or to a provision of legislation includes any consolidation, amendment, re-enactment, substitute or replacement of or for it, and refers also to any regulation or statutory instrument issued or delegated legislation made under it;







 



	
(viii)  

	
a person includes an individual, the estate of an individual, a corporation, an authority, an unincorporated body, an association or joint venture (whether incorporated or unincorporated), a partnership and a trust;







 



	
(ix)  

	
a right includes a power, remedy, authority, discretion or benefit;







 



	
(x)  

	
conduct includes an omission, statement or undertaking, whether in writing or not;







 



	
(xi)  

	
an agreement, representation or warranty in favour of two or more persons is for the benefit of them jointly and severally; and







 



	
(xii)  

	
an agreement, representation or warranty on the part of two or more persons binds them jointly and severally;







 




  





 Page 12











  




 



Joint Venture Agreement













 



	
(f)  

	
the word “includes” in any form is not a word of limitation;







 



	
(g)  

	
the words “for example” or “such as” when introducing an example do not limit the meaning of the words to which the example relates to that example or to examples of a similar kind;







 



	
(h)  

	
a reference to a day is to a period of time commencing at midnight and ending 24 hours later;







 



	
(i)  

	
if a period of time dates from a given day or the day of an act or event, it is to be calculated exclusive of that day; and







 



	
(j)  

	
a reference to “$” or “dollar” is to US currency.







 



	
2.  

	
Commencement







 



	
(a)  

	
The Parties acknowledge and agree that this Agreement commences with effect on and from the Execution Date.







 



	
(b)  

	
With effect on and from the Execution Date, this Agreement replaces and supersedes the Heads of Agreement, which is of no further force and effect.







 



	
3.  

	
Consideration







 



	
3.1  

	
Deposit paid







 


Malagasy acknowledges receipt of US$250,000 (being AUD$271,296.80), paid by Energizer to Malagasy in accordance with the Heads of Agreement as a non-refundable deposit for Malagasy’s entry into the Heads of Agreement and this Agreement.


 



	
3.2  

	
Cash and Share Consideration







 


In consideration for Malagasy entering into this Agreement and for performing its obligations under this Agreement, Energizer agrees to:


 



	
(a)  

	
pay Malagasy the sum of US$2,000,000 (Cash Consideration) in accordance with clause 3.3; and







 



	
(b)  

	
issue to Malagasy (or its nominee) 7,500,000 Energizer Shares in accordance with clause 3.3 (Share Consideration).







 



	
3.3  

	
Payment and issue







 



	
(a)  

	
The Cash Consideration is to be paid by Energizer to Malagasy within three (3) Business Days of the Execution Date, being the date on which this Agreement is executed by the Parties.







 



	
(b)  

	
The Share Consideration is to be issued by Energizer to Malagasy within five (5) Business Days of Energizer receiving the approval of the Toronto Stock Exchange (TSX) for the issue of the Share Consideration to Malagasy.







 




  





 Page 13











  




 



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(c)  

	
The Parties acknowledge that TSX approval for the issue of the Share Consideration can only be sought by Energizer on the Execution Date, once the Agreement has been executed.  Energizer agrees to use all reasonable endeavours to ensure TSX’s prompt approval and that the Share Consideration is issued as soon as practicable after the Execution Date.







 



	
(d)  

	
The Cash Consideration will be paid by Energizer (or its nominee) into a bank account nominated by Malagasy.







 



	
4.  

	
Provision of Mining Information







 


Subject to Malagasy’s receipt of the Cash Consideration and Share Consideration in accordance with clause 3, Malagasy must promptly provide to Energizer copies of all Mining Information held by Malagasy and the Permit Holders in respect of the Permits.


 



	
5.  

	
Acknowledgements by Parties







 



	
(a)  

	
The Parties acknowledge and agree that the Exploration Permits will remain registered in the name of the Permit Holders other than any portion of an Exploration Permit which is converted to an Exploitation Permit which will be dealt with in accordance with clause 14.







 



	
(b)  

	
Malagasy must procure that the Permit Holders:







 



	
(i)  

	
perform all obligations expressed by this Agreement to be imposed on the Permit Holders by this Agreement; and







 



	
(ii)  

	
execute all such documents as are necessary for those entities to be bound by the obligations imposed on them, and to be entitled to exercise the rights contemplated by this Agreement.







 



	
(c)  

	
the Shareholders must procure that the JV Company and MadagascarCo:







 



	
(i)  

	
perform all obligations expressed by this Agreement to be imposed on the JV Company and MadagascarCo; and







 



	
(ii)  

	
execute all such documents as are necessary for those entities to be bound by the obligations imposed on them, and to be entitled to exercise the rights contemplated by this Agreement.







 



	
(d)  

	
The Parties acknowledge that they will use their respective best endeavours to execute the MDA Sublease Agreements and Mazoto Sublease Agreements contemporaneously with the signing of this Agreement.







 



	
(e)  

	
The Parties acknowledge that the relevant Permits held by Energex are currently in the process of being transferred to MDA; however, they remain subject to the current moratorium on transfer of Permits.







 



	
(f)  

	
The Parties acknowledge that Exploration Operations may only be conducted in respect of those Industrial Minerals noted on the Permits or for which an authorisation of the Mining Department has been received by the Permit Holders acknowledging that those Industrial Minerals are the subject of the Permits.  Malagasy will procure that the Permit Holders comply with their obligations under clause 10.2(d).







 




  





 Page 14











  




 



Joint Venture Agreement













 



	
6.  

	
Establishment of JV Company and its Board







 



	
6.1  

	
Establishment







 


The Parties have established Madagascar-ERG Joint Venture (Mauritius) Ltd (Company Number: 106367) as the JV Company, being a company incorporated under the laws of Mauritius.


 



	
6.2  

	
Initial Shareholding Interests







 



	
(a)  

	
On establishment of JV Company, the initial Shareholders and their Shareholding Interests in JV Company are as follows:







 



	
Shareholder

	
Number of Shares

	
Shareholding Interest


	
Energizer

	
3

	
75%


	
Malagasy

	
1

	
25%







 



	
(b)  

	
If required, each Shareholder must subscribe for, for nominal consideration, the number of Shares specified in clause 6.2(a) next to its name.







 



	
6.3  

	
Adoption of constituent document







 


JV Company has adopted articles of association as its constituent document in accordance with the laws of Mauritius and in a form that is consistent with the terms of this Agreement.


 



	
6.4  

	
Board members







 


The Board will comprise the following individuals, being representatives of Energizer:


 



	
(a)  

	
Mr Kirk McKinnon (Chairman);







 



	
(b)  

	
Mr Richard Schler;







 



	
(c)  

	
Mr Peter Liabotis;







 



	
(d)  

	
Mr Craig Scherba; and







 



	
(e)  

	
Mr Roland Fok-Seung.







 



	
6.5  

	
Appointment and removal of Directors







 



	
(a)  

	
Energizer shall have the right to appoint further Directors to the Board provided the total number of Directors does not exceed that number permitted under the articles of association of JV Company or by law.







 



	
(b)  

	
Following the completion of a Bankable Feasibility Study and its delivery to Shareholders in accordance with clause 13.1, and provided Malagasy remains a Shareholder, Malagasy will be entitled to nominate one (1) Director to the Board.







 




  





 Page 15











  




 



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(c)  

	
In circumstances where the office of Chairman of the Board becomes free, a new Chairman shall be nominated by the Shareholder holding the majority of Shares at that time.







 



	
(d)  

	
A person will be automatically removed as a Director without the need for any other actions by the Shareholders or the Director if:







 



	
(i)  

	
the Shareholder who nominated the person as a Director ceases to be a Shareholder.







 



	
(ii)  

	
the Shareholder that nominated the person as a Director gives written notice to JV Company that the person ceases to be a Director; or







 



	
(iii)  

	
in such other circumstances as provided for in the articles of association of JV Company.







 



	
(e)  

	
If a Shareholder that nominated a person as a Director gives written notice to the other Shareholders that the person has ceased to be a Director pursuant to clause 6.5(d)(ii), the Shareholder may (without the need for any other actions by JV Company or the Directors) appoint another person as a Director to replace the person who has ceased to be a Director.







 



	
6.6  

	
Role and powers of the Board







 



	
(a)  

	
The business and affairs of the Joint Venture are to be under the control and direction of the Board.  All decisions of the Board must not breach the terms of this Agreement or any Law.  Except as otherwise provided in this Agreement, the Board is to decide all matters in relation to the business and affairs of the Joint Venture including:







 



	
(i)  

	
adoption of an accounting procedures manual for the Joint Venture and the Operator;







 



	
(ii)  

	
appointment of independent auditors (if any);







 



	
(iii)  

	
delegation of matters to any sub-committees and the Operator;







 



	
(iv)  

	
giving directions to, and setting spending limits and other control mechanisms for any sub-committees and the Operator;







 



	
(v)  

	
the surrender of the Joint Venture Property;







 



	
(vi)  

	
approval and revision of Programs and Budgets; and







 



	
(vii)  

	
other matters to be decided by the Board as specified in this Agreement.







 



	
(b)  

	
All decisions of the Board bind the Shareholders unless such decision is in breach of this Agreement or any Law.  Each Shareholder agrees to give effect to those decisions provided such decision not a breach of this Agreement or any Law.







 



	
6.7  

	
Meetings of the Board







 



	
(a)  

	
The Board will meet:







 




  





 Page 16











  




 



Joint Venture Agreement













 



	
(i)  

	
at least once each calendar year; and







 



	
(ii)  

	
at such other times as the Board may decide.







 



	
(b)  

	
Meetings of the Board may take place where the Directors are physically present together, by telephone link-up or by audio-visual transmission.







 



	
(c)  

	
A Director may at any time, and the company secretary will on the request of a Director, convene a meeting of the Directors.







 



	
6.8  

	
Notice of Board meetings







 


Notice of each meeting of the Board:


 



	
(a)  

	
must specify the time and the place of the meeting, but need not state the nature of the business to be transacted;







 



	
(b)  

	
must be given to each Director not less than 5 days before the meeting; and







 



	
(c)  

	
may be given by telephone, facsimile transmission or electronic mail message,







 


but the non-receipt by a Director of any notice of a Board meeting will not affect the validity of the convening of the meeting.


 



	
6.9  

	
Quorum







 


The quorum for a Board meeting is a majority of the Directors entitled to attend and vote at a meeting of Directors.  If Malagasy has a right to appoint a Director under clause 6.5(b), then a quorum for a Board meeting must include the representative of Malagasy, unless Malagasy agrees otherwise.  If a quorum is not present, then the Board meeting will be adjourned for at least 7 days until such time as a quorum of Directors can be present.


 



	
6.10  

	
Decisions of the Boards







 


All resolutions of the Board may be passed by a Simple Majority vote of the Directors.


 



	
6.11  

	
Voting







 



	
(a)  

	
Each Director may vote at a meeting of the Board.







 



	
(b)  

	
Each Director is entitled to one vote for each Share held by his nominating Shareholder in JV Company, provided that the total number of votes cast by the Directors appointed by his nominating Shareholder who vote on the matter shall not exceed the number of Shares held by the nominating Shareholder in JV Company.  For example, if a Shareholder holds 3 Shares, the total number of votes cast by all Directors nominated by that Shareholder shall be 3.







 



	
(c)  

	
In the case of equality of votes, the Chairman of the meeting will have a casting vote.







 



	
6.12  

	
Experts and advisers







 


The Board may invite experts and advisers to attend any meeting of the Board.


 




  





 Page 17











  




 



Joint Venture Agreement













 



	
6.13  

	
Minutes of meetings and records







 



	
(a)  

	
Minutes of Board meetings will be kept.







 



	
(b)  

	
On request, JV Company will provide copies of the agenda of Board meetings, minutes of Board meetings and Board papers supporting such minutes to the Shareholder who requests such information.







 



	
(c)  

	
On reasonable notice, any Shareholder and its advisers shall have access to review and will be provided with copies of such of the records of JV Company and MadagascarCo as reasonably requested from time to time.







 



	
(d)  

	
Malagasy and its advisers will, at the cost of Malagasy, have the right to conduct an audit review of the records of JV Company and MadagascarCo.







 



	
7.  

	
Establishment of MadagascarCo







 



	
7.1  

	
Establishment







 



	
(a)  

	
The Parties have established, or will as soon as practicable after the Execution Date establish, ERG (Madagascar) Ltd as MadagascarCo, being a company incorporated under the laws of Madagascar for the purposes of holding the Subleases and eventually the Exploitation Permits.







 



	
(b)  

	
All shares in MadagascarCo are or will be owned by JV Company.







 



	
(c)  

	
MadagascarCo has or will be incorporated for the time being as a Société á Responsabilité Limitée.







 



	
7.2  

	
Management of MadagascarCo







 



	
(a)  

	
Energizer has, or will as soon as practicable after the Execution Date, appoint Mr Roland Fok-Seung as the Gérant résident (Country Manager) of MadagascarCo, who will act in accordance with the instructions provided to him by JV Company.







 



	
(b)  

	
Energizer has, or will as soon as practicable after the Execution Date, appoint Mr Kirk McKinnon, Mr Richard Schler and Mr Roland Fok-Seung as Gérants of MadagascarCo.







 



	
(c)  

	
Decisions of MadagascarCo will only be made in accordance with an instruction from JV Company and will require the approval of at least two (2) of the three (3) managers (Gérants) of MadagascarCo.







 



	
7.3  

	
Appointment and removal







 



	
(a)  

	
Energizer shall have the ability to appoint additional Country Managers or remove and replace existing Country Managers of MadagascarCo subject to the total number of Country Managers so appointed not exceeding that number provided for in the constituent document of MadagascarCo or by law.







 



	
(b)  

	
If it hasn’t already done so, following the completion of a Bankable Feasibility Study and its delivery to Shareholders in accordance with clause 13.1, Energizer will consider whether it is appropriate to remain incorporated as a Société á Responsabilité Limitée company or whether it is more appropriate to convert to a Société Anonyme company.  If MadagascarCo is converted to a Société Anonyme company following completion of a Bankable Feasibility Study (or at anytime following completion of a Bankable Feasibility Study), and provided Malagasy remains a Shareholder of JV Company, Malagasy will be entitled to nominate one (1) director to the Board of MadagascarCo.







 




  





 Page 18











  




 



Joint Venture Agreement













 



	
7.4  

	
Role of Company Manager







 


The role of the Company Manager is to carry out and implement the directions received from JV Company in respect of the Business and to carry out the day to day management of Joint Venture Operations.


 



	
7.5  

	
Adoption of constituent document







 


MadagascarCo has adopted “statuts” as its constituent document in accordance with the laws of Madagascar.


 



	
8.  

	
Business of the JV Company and MadagascarCo







 



	
(a)  

	
The business of JV Company will be to, through MadagascarCo:







 



	
(i)  

	
conduct Joint Venture Operations;







 



	
(ii)  

	
hold and administer the Industrial Mineral Rights;







 



	
(iii)  

	
hold and administer the Sublease Agreements and Sublease;







 



	
(iv)  

	
upon the grant of Exploitation Permits over any part of the Area of Interest in accordance with clause 14.1, hold and administer the Exploitation Permits; and







 



	
(v)  

	
conduct any Exploration Operations and or Mining Operations.







 



	
(b)  

	
The Shareholders agree and acknowledge that JV Company and/or MadagascarCo may enter into agreements with third parties with respect to the use, operation or other exploitation of any mining infrastructure which is located within the Area of Interest or any in relation to any other Joint Venture Property, but any agreement of this type must be entered into on arm’s length commercial terms.







 



	
9.  

	
Co-operation of Shareholders







 


Each Shareholder must:


 



	
(a)  

	
cooperate to:







 



	
(i)  

	
foster the development of the Business; and







 



	
(ii)  

	
ensure that JV Company and MadagascarCo can successfully carry on the Business in accordance with all applicable laws and regulations;







 




  





 Page 19











  




 



Joint Venture Agreement













 



	
(b)  

	
not use Confidential Information in a way which damages or is reasonably likely to damage JV Company or MadagascarCo or any Shareholder, which obligation will continue after a Shareholder has ceased being a Shareholder in JV Company and survive termination of this Agreement.  Nothing in this clause prevents Malagasy from using the Mining Information in relation to the exploration and development of the Other Minerals;







 



	
(c)  

	
not unreasonably delay an action, approval, direction, determination or decision required of the Shareholder;







 



	
(d)  

	
make approvals or decisions that are required of the Shareholder in accordance with the terms and conditions of this Agreement; and







 



	
(e)  

	
provide such assistance as required by this Agreement, at the cost of JV Company, as may from time to time reasonably be requested of it by JV Company or MadagascarCo or which the Shareholders agree would assist in the development of the Business, provided any costs incurred are reasonable out-of-pocket expenses and do not relate to minor ad-hoc assistance which will be provided in good faith.







 



	
10.  

	
Right to explore and sublease







 



	
10.1  

	
Grant of Subleases







 



	
(a)  

	
Malagasy will procure that during the Term, the Permit Holders grant to MadagascarCo the Industrial Mineral Rights and the exclusive right to carry out Exploration and Mining within the Area of Interest, in accordance with the laws of Madagascar, for the purposes of identifying and exploiting any Industrial Minerals within that area.







 



	
(b)  

	
Subject to Malagasy’s receipt of the Cash Consideration and Share Consideration in accordance with clause 3.3, Malagasy will procure that during the Term, the Permit Holders grant to MadagascarCo subleases over the Area of Interest on terms whereby, for consideration which includes the benefit of Exploration Operations undertaken at the cost of MadagascarCo:







 



	
(i)  

	
MadagascarCo will, in accordance with the Mining Code, be the sole holder of the Industrial Mineral Rights and have the exclusive right to conduct Exploration and Mining within the Area of Interest; and







 



	
(ii)  

	
the Permit Holders will, in accordance with and as permitted under the Mining Code, retain the exclusive right to Other Mineral Rights,







 


(each a Sublease).


 



	
(c)  

	
Subject to the Mining Code, the Subleases will be for the term of the Permits, including for the term of any renewal of the Permits.







 



	
(d)  

	
Subject to clause 10.1(e), the Permit Holders must enter into the Sublease Agreements and any other agreement(s) with MadagascarCo required by the Mining Code to give effect to the exclusive right to carry out Exploration as described in clause 10.1(a) and the Subleases as contemplated under clause 10.1(b).







 



	
(e)  

	
The Parties must use all reasonable endeavours to ensure the Sublease Agreements and any other agreement contemplated by clause 10.1(d) are entered into by the Permit Holders and MadagascarCo on, or as soon as possible after, the Execution Date.







 



	
(f)  

	
If Energizer requires, Malagasy will procure that Energex enters into sublease agreements with MadagascarCo in respect of the Permits currently in the name of Energex but which are the subject of the current moratorium on transfer, with such sublease agreements being on the same terms and conditions as the Sublease Agreements.







 




  





 Page 20











  




 



Joint Venture Agreement













 



	
10.2  

	
Covenants of Permit Holders in respect of the Exploration Permits







 


The Permit Holders, at the cost of JV Company, must:


 



	
(a)  

	
use all reasonable endeavours permitted under the laws of Madagascar to ensure the Permits are renewed in the usual course for such periods as permitted by the Mining Code, as requested by JV Company;







 



	
(b)  

	
do all such acts as are reasonably necessary to keep the Permits in Good Standing which can only be done or performed by the registered holder of the Permits, provided that the Permit Holder must give to JV Company adequate prior notice of all such acts;







 



	
(c)  

	
use all reasonable endeavours to have the Sublease Agreements registered with the Mining Department as soon as possible (provided in this case, the costs associated with registration of the Sublease Agreements with the Mining Department will be met 50% by the Permit Holders and 50% by JV Company); and







 



	
(d)  

	
apply to the Mining Department to add such of the Industrial Minerals to the Permits as may be requested by JV Company from time to time to the extent those Industrial Minerals are not already noted on the Permits.







 



	
10.3  

	
Covenants in respect of the Exploration Permits







 


Subject to clauses 10.2 and 16.3, during the Term, the JV Company and MadagascarCo must:


 



	
(a)  

	
do all such acts and make all such payments as are reasonably necessary to keep the Permits in Good Standing;







 



	
(b)  

	
comply with all Minimum Expenditure Obligations in respect of the Permits (if any); and







 



	
(c)  

	
contribute as sole contributors to all Outgoings.







 


For the purposes of ensuring compliance with the obligations under this clause 10.3, Malagasy may provide to JV Company or MadagascarCo (as the case may be) a cash call (together with a copy of the supporting documentation (including any invoice to the extent an invoice exists) to which the cash call relates) for the amount required to be paid by JV Company or MadagascarCo pursuant to this clause 10.3 no more than 30 days prior to the due date for payment of such amount and JV Company or MadagascarCo (as the case may be) has the option to satisfy the cash call by:


 



	
(a)  

	
paying the amount referred to in the cash call to Malagasy within 20 days of receipt of the cash call; or







 



	
(b)  

	
paying the amount referred to in the cash call direct to the third party to which the relevant invoice or other supporting documentation relates on or before the due date for payment noted in the cash call provided that the third party will accept payment direct from JV Company or MadagascarCo (as the case may be).







 




  





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10.4  

	
Remedies of Energizer







 



	
(a)  

	
If any Permit Holder does, permits or suffers to be done anything, or omits to do anything required under the Mining Code or other laws of Madagascar, which constitutes a breach of any of its covenants under this Agreement and which may, in the JV Company’s reasonable opinion, result in:







 



	
(i)  

	
the termination or non-renewal of a Permit;







 



	
(ii)  

	
a revocation of any permit, authority or approval necessary to maintain the Good Standing of a Permit; or







 



	
(iii)  

	
loss of access to any part of the Area of Interest,







 


JV Company or MadagascarCo has the right, on each occurrence, to be appointed the Permit Holder’s attorney for the purpose of taking whatever remedial steps it considers necessary to remedy the breach.


 



	
(b)  

	
Any costs incurred by JV Company in exercising its rights pursuant to clause 10.4(a) will be a debt due from the Permit Holders to JV Company payable upon demand.







 



	
(c)  

	
The rights created by clause 10.4(a) are the sole remedy in respect to a breach to which clause 10.4(a) applies.







 



	
(d)  

	
JV Company and MadagascarCo will not be liable to the Permit Holders for any loss or damage suffered by the Permit Holders as a result of actions taken or omissions made by JV Company in the course of exercising or purporting to exercise its rights under clause 10.4(a) so long as JV Company has acted in good faith.







 



	
10.5  

	
Exercise of Industrial Mineral Rights







 


JV Company and MadagascarCo must, in the exercise of the Industrial Mineral Rights:


 



	
(a)  

	
comply with the conditions of the Permits (to the extent that those conditions relate to the Area of Interest) as if MadagascarCo were the permit holder;







 



	
(b)  

	
comply with the requirements of the Mining Department, the Mining Code, Environmental Laws and any other laws dealing with miners and the exploration for and mining of minerals;







 



	
(c)  

	
be responsible for approvals required for activities on the Area of Interest;







 



	
(d)  

	
be responsible for the preparation and lodgement of any reporting obligations on any work done on, and money expended in connection with the Area of Interest;







 



	
(e)  

	
comply with, adopt and exercise Good Mining Practices including rehabilitating any ground disturbance;







 




  





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(f)  

	
without prejudice to clause 16, use its reasonable endeavours to minimise interference with the Permit Holders’ activities in planning, programming and executing any exploration activity on the Exploration Permits;







 



	
(g)  

	
keep all drill holes, costeans, trenches, excavations, shafts and other workings secure and safe and properly maintained and, where necessary, fenced; and







 



	
(h)  

	
not do or suffer to be done anything which will or may place in jeopardy the Permits or render any of them liable to forfeiture.







 



	
10.6  

	
Notice of activities







 



	
(a)  

	
MadagascarCo must, at least 20 Business Days prior to commencing any program of activity on the Area of Interest (Proposed Activity), give a notice to Malagasy (Notice of Proposed Activity) containing particulars of:







 



	
(i)  

	
the general nature of the Proposed Activity; and







 



	
(ii)  

	
the areas of the Area of Interest which MadagascarCo proposes to enter upon to conduct the Proposed Activity and or to construct, operate and maintain infrastructure in relation to the Proposed Activity.







 



	
(b)  

	
MadagascarCo will, at the cost of Malagasy, assay any exploration results for any Other Minerals requested by Malagasy provided that such request is received in sufficient time for MadagascarCo to make such request of the laboratory conducting the assay.







 



	
(c)  

	
Malagasy will or will procure the Permit Holders to, at the cost of Energizer, assay any exploration results for any Industrial Minerals within the Area of Interest requested by Energizer provided that such request is received in sufficient time for Malagasy or the Permit Holders (as the case may be) to make such request of the laboratory conducting the assay.







 



	
(d)  

	
MadagascarCo must provide to Malagasy the results of MadagascarCo’s activities on the Area of Interest by way of:







 



	
(i)  

	
quarterly reports; and







 



	
(ii)  

	
reports at such other times as is required by Malagasy to enable the Permit Holders to comply with statutory and Mining Departmental reporting obligations as the holders of the Exploration Permits.







 



	
10.7  

	
Mutual indemnities







 



	
(a)  

	
JV Company and MadagascarCo each jointly and severally agree to indemnify, and keep indemnified, and hold harmless the Permit Holders and their Related Bodies Corporate, directors, employees and consultants from and against all Claims that may be made, brought against, suffered, sustained or incurred by the Permit Holders, arising out of any act or omission (including any negligent act or omission) of JV Company or MadagascarCo and in the course of the exercise of activities undertaken by JV Company or MadagascarCo on the Area of Interest.







 




  





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(b)  

	
The Permit Holders each jointly and severally agree to indemnify, and keep indemnified, and hold harmless the Shareholders and JV Company and their Related Bodies Corporate, directors, employees and consultants from and against all Claims that may be made, brought against, suffered, sustained or incurred by the Shareholders or JV Company, arising out of any act or omission (including any negligent act or omission) of the Permit Holders and in the course of the exercise of activities undertaken by the Permit Holders on the Area of Interest.







 



	
11.  

	
Surrender of Exploration Permits







 



	
(a)  

	
Subject to clause 11(d), the Board of JV Company may resolve by Simple Majority to surrender any of the Joint Venture Property (Surrendered Property).







 



	
(b)  

	
Subject to clause 11(c), if the Board resolves to surrender any Joint Venture Property in accordance with clause 11(a):







 



	
(i)  

	
the Surrendered Property will, from the date of the resolution to surrender that property, cease to be Joint Venture Property for any purpose under this Agreement; and







 



	
(ii)  

	
except as expressly provided elsewhere in this Agreement, the Shareholders, JV Company and MadagascarCo will cease to have any rights or liabilities in respect of the Surrendered Property, other than any rights or liabilities which have accrued prior to the date of the resolution to surrender the Surrenders Property.







 



	
(c)  

	
If the Board resolves to surrender the whole or any part of, the Joint Venture Property (other than pursuant to any compulsory relinquishment obligations under the Mining Code) and one of the Shareholders (acting through a Director) votes against that resolution (Dissenting Party), the Operator must not give effect to that decision until the Operator has first offered in writing to transfer the relevant Joint Venture Property or part thereof to the Dissenting Party for no consideration other than the cost of transfer and the Dissenting Party has not accepted that offer within 14 days after it is made.







 



	
(d)  

	
Where the Board resolves to surrender any of the Joint Venture Property, it must:







 



	
(i)  

	
provide two (2) months written notice of the surrender to each Shareholder, which identifies the specific Joint Venture Property which is to be surrendered; and







 



	
(ii)  

	
ensure that, to the extent the surrender of Joint Venture Property applies or relates to a Permit or Permits, that all Outgoings, Minimum Expenditure Obligations (if any) and any payments reasonably necessary to keep the relevant Permit(s) in Good Standing are paid to date and for one (1) year following the date on which notice is given in accordance with clause 11(d)(i) above.







 



	
12.  

	
Transfer of Permits







 



	
(a)  

	
Subject to clause 12(b), should the Permit Holders decide to Dispose of their interest in any of the Permits, they may only sell, transfer or otherwise dispose of that interest to any person (Permit Transferee):







 




  





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Joint Venture Agreement













 



	
(i)  

	
provided the JV Company and MadagascarCo are given the opportunity to match any bona fide third party offer as a right of first refusal for a period of 30 days from the time of notice of the offer from the Permit Holders; and







 



	
(ii)  

	
the Permit Transferee enters into an Accession Deed.







 



	
(b)  

	
The Permit Holders may transfer the Permits to each other or another wholly owned subsidiary of Malagasy provided that the transferee first enters into an Accession Deed.







 



	
13.  

	
Bankable Feasibility Study and Decision to Mine







 



	
13.1  

	
Bankable Feasibility Study







 



	
(a)  

	
At any time during the Term, the Board may direct the Operator to carry out a Bankable Feasibility Study in respect of the Area of Interest, the costs of which will form part of the Joint Venture Costs in accordance with clause 18(a).







 



	
(b)  

	
Throughout the completion of the Bankable Feasibility Study, the Operator will provide the Shareholders with quarterly reports on the progress of the Bankable Feasibility Study and such other information as a Shareholder may reasonably request from time to time in order that such Shareholder can be kept informed of the progress of the Bankable Feasibility Study in order that it will be in a position to arrange finances to make a Decision to Mine in the time period required by clause 13.2(a).







 



	
(c)  

	
Upon completion of a Bankable Feasibility Study referred to in clause 13.1(a) , the Operator must provide the Shareholders with a copy thereof.







 



	
(d)  

	
Upon the completion and delivery of a Bankable Feasibility Study in accordance with this clause 13.1, the Shareholders will fund Joint Venture Costs in respect to the Mining Area in their Respective Proportions until such time as external funding for the development and commencement of Mining Operations has been procured.







 



	
13.2  

	
Decision to Mine







 



	
(a)  

	
Following delivery of a Bankable Feasibility Study to the Shareholders in accordance with clause 13.1, the Shareholders may, by a Simple Majority, decide to commence Mining Operations in respect of all or part of the Area of Interest the subject of the Bankable Feasibility Study (Decision to Mine).  A Decision to Mine can not be made earlier than the date which is 90 days after the date on which the final Bankable Feasibility Study is delivered to the Shareholders in accordance with clause 13.1(c), unless otherwise agreed in writing by all Shareholders.







 



	
(b)  

	
If the Shareholders make a Decision to Mine in accordance with clause 13.2(a), JV Company must:







 



	
(i)  

	
instruct the Permit Holders to apply for, as the case may be, any authorisation or permission required under the Mining Code or other laws of Madagascar, including the conversion of Exploration Permits into Exploitation Permits and relevant environmental authorisations, the granting of which by the Mining Department or other Governmental Agency of Madagascar is a condition to the implementation of the Decision to Mine; and







 



	
(ii)  

	
be responsible for arranging project finance for the development and commencement of the Mining Operations.







 




  





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13.3  

	
Election to participate and formation of mining joint venture







 



	
(a)  

	
A Shareholder which did not vote in favour of the Decision to Mine may elect, within 40 Business Days of the Decision to Mine, not to participate in the Mining Operation the subject of the Decision to Mine.  The Shareholders who do not make such an election or who voted in favour of the Decision to Mine are referred to as Mining Parties.







 



	
(b)  

	
Upon the expiration of the 40 Business Day election period provided for in clause 13.3(a) (Mining JV Commencement Date), the Mining Parties will incorporate a joint venture company under the laws of Mauritius (NewCo Mauritius), the shareholders of which will be the Mining Parties, in the same proportion as their respective Shareholding Interest in JV Company bear to each other at the time a Decision to Mine is made, which will in turn will hold 100% of the shares in a newly formed company in Madagascar (NewCo Madagascar).







 



	
13.4  

	
Establishment of Mining Area







 



	
(a)  

	
Within 30 Business Days after the Mining JV Commencement Date, the Parties will meet to establish the boundaries of the Mining Area which is appropriate to encompass all deposits of Industrial Minerals the subject of the Bankable Feasibility Study, which deposits may be mined as a single mining enterprise, together with any milling or concentrating plant and other appropriate infrastructure and facilities necessary for the efficient conduct of Mining Operations.







 



	
(b)  

	
In the event of disagreement, the boundaries established for the Mining Area will be determined in accordance with clause 31 and will be the area reasonably required for the Mining Operations the subject of a Decision to Mine and accords with the Mining Code, Good Mining Practices and the Bankable Feasibility Study.







 



	
13.5  

	
Holding of Mining Area







 



	
(a)  

	
Upon the incorporation of NewCo Mauritius and NewCo Madagascar and the establishment of the Mining Area in accordance with clause 13.4, the Mining Parties will consult with each other in good faith and make a determination as to whether the Mining Area will be transferred into NewCo Madagascar or whether the Joint Venture Property (excluding the Mining Area) (Exploration Assets) will be transferred into NewCo Madagascar, leaving the Mining Area as the sole property of JV Company.







 



	
(b)  

	
After a determination is made under clause 13.5(a), the Mauritian company (being NewCo Mauritius or JV Company) which through its Madagascan subsidiary (being NewCo Madagascar or MadagascarCo), holds the Mining Area from time to time will be known as the Mauritian Development JV Company, the purpose of which will be to conduct Mining Operations in respect of the Mining Area.  The subsidiary in Madagascar of the Mauritian Development JV Company which holds the Mining Area will be known as the Madagascar Development JV Company.







 



	
(c)  

	
If the Exploration Assets are transferred into NewCo Madagascar then this Agreement will apply in relation to the Exploration Assets as if NewCo Mauritius and NewCo Madagascar were named herein in place of JV Company and MadagascarCo respectively.







 




  





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13.6  

	
Mining Area ceases to be Joint Venture Property







 



	
(a)  

	
On the Mining JV Commencement Date:







 



	
(i)  

	
the Mining Area will be segregated from the Area of Interest;







 



	
(ii)  

	
the Mining Area will cease to be Joint Venture Property;







 



	
(iii)  

	
the Mining Area will be owned by the Madagascar Development JV Company; and







 



	
(iv)  

	
those Shareholders who are not Mining Parties must, at the cost of the Mining Parties, transfer to Madagascar Development JV Company all of their interest in the Mining Area for consideration equal to 75% of the market value of that interest as agreed between the Parties or, in the absence of agreement, as determined by an independent expert  appointed in accordance with clause 32.2.







 



	
(b)  

	
For the avoidance of doubt, a Shareholder who transfers all of their interest in the Mining Area under clause 13.6(a)(iv) will not be entitled to receive a royalty under clause 23 in respect of the relevant Mining Area which is transferred to the remaining Mining Parties.







 



	
13.7  

	
Transfer of Mining Area







 


As soon as practicable after determination of the Mining Area:


 



	
(a)  

	
the Permit Holders, Shareholders and Mining Parties must co-operate to prepare, execute and procure registration of such conditional surrenders, applications, transfers, new sub-leases and other documents as may be necessary to segregate the Mining Area and to vest the Mining Area in Madagascar Development JV Company; but







 



	
(b)  

	
if the Mining Parties decide to delay segregation, or segregation cannot immediately occur due to matters outside of the control of the Permit Holders, Shareholders or Mining Parties, the Permit Holders, Shareholders and Mining Parties will implement such alternative arrangements in order for Madagascar Development JV Company to have the sole benefit and control of the Mining Area.







 



	
13.8  

	
Terms of Mining Joint Venture







 



	
(a)  

	
Following the determination of the Mining Area and the conversion of the Permits into exploitation permits, the Development JV Company may proceed to implement Mining Operations within the Mining Area.







 



	
(b)  

	
The interest of each Mining Party in the Mauritian Development JV Company will be in proportion to their relative Shareholding Interests in JV Company (Mining Venture Interest) at the time a Decision to Mine is made or as they may otherwise agree between themselves.







 




  





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(c)  

	
If the then Operator is a Mining Party, then the Operator will be the operator of the Mining Operations conducted by the Mauritian Development JV Company through Madagascar Development JV Company (Mining Operator).  Otherwise, the Mining Parties will elect a Mining Operator by majority vote in proportion to their respective Mining Venture Interests.







 



	
(d)  

	
The Mining Parties will contribute to the costs incurred by the Mauritian Development JV Company in proportion to their respective Mining Venture Interests to the extent additional funds are required by Mauritian Development JV Company.







 



	
13.9  

	
Agreement







 


As soon as possible following the Mining JV Commencement Date, the shareholders of the Mauritian Development JV Company (being the Mining Parties) will in good faith enter into negotiations for and execute an appropriate agreement in place of this Agreement in respect of the Mining Area.  The agreement will:


 



	
(a)  

	
provide for all matters necessary for the planning, financing, construction, commissioning and conduct of Mining Operations;







 



	
(b)  

	
otherwise reflect the terms of this Agreement where relevant; and







 



	
(c)  

	
provide for the execution of cross charges which encumber each Mining Party’s Mining Venture Interest, and its interest in any contracts for, and the proceeds of, sale of Industrial Minerals in favour of each other Mining Party and the Mining Operator as security for its performance of its duties and obligations arising under the agreement.







 


Until that agreement is executed, this Agreement will continue to bind the Mining Parties.


 



	
14.  

	
Conversion to Exploitation Permits







 



	
14.1  

	
Conversion







 


The Parties acknowledge and agree that:


 



	
(a)  

	
in order to commence Mining Operations in respect of all or a part of the Area of Interest, the Exploration Permits, to the extent they cover the Mining Area (Current Permits) will be converted into Exploitation Permits; and







 



	
(b)  

	
if the Shareholders make a Decision to Mine, the Parties must do all things necessary to, as promptly as possible, have the Current Permits converted into Exploitation Permits and to apply for all relevant environmental authorisations.







 



	
14.2  

	
Transfer of Exploitation Permits







 



	
(a)  

	
Any Exploitation Permit issued by the Mining Department to the Permit Holders must be immediately transferred or, if for whatever reason the Exploitation Permit cannot immediately be transferred, sub-leased (as applicable) by the Permit Holders to Madagascar Development JV Company as soon as possible after the grant of the Exploitation Permit.







 




  





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(b)  

	
The Parties acknowledge and agree that, in relation to this clause 14, it is the preference of the Parties to have any Exploitation Permit issued by the Mining Department to a Permit Holder immediately transferred to Madagascar Development JV Company.  However if such a transfer is not possible for whatever reason, then the Parties will implement such alternative arrangements in order for Madagascar Development JV Company to have the sole benefit and control of the Exploitation Permit including entering into new sub-leases in respect of the Exploitation Permits on terms and conditions which are consistent with this Agreement.







 



	
(c)  

	
The Parties acknowledge and agree that on transfer of the Exploitation Permits to Madagascar Development JV Company, Madagascar Development JV Company will grant a sub-lease to Malagasy or its nominee in respect to the Other Mineral Rights within the Exploitation Permit on terms and conditions which are consistent with this Agreement, including clause 16.







 



	
14.3  

	
Holding of Exploitation Permits







 


During the time between the granting of an Exploitation Permit and the formal transfer or sub-lease of the Exploitation Permit to Madagascar Development JV Company, the Permit Holders shall hold the Exploitation Permits for Madagascar Development JV Company’s sole benefit and agree:


 



	
(a)  

	
not to act in any manner which is detrimental to Madagascar Development JV Company or the Exploitation Permit; and







 



	
(b)  

	
to act in accordance with Madagascar Development JV Company’s reasonable instructions in relation to the Exploitation Permit provided these instructions are not contrary to or breach of the laws of Madagascar.







 



	
14.4  

	
Approval of Mining Department







 


The Permit Holders must promptly apply for the approval of the Mining Department or other relevant body for the transfer or sub-lease (as applicable) of any Exploitation Permit issued to the Permit Holders in accordance with clause 14.1 and to do all other things reasonably necessary to effect the transfer or sub-lease of the granted Exploitation Permits to Madagascar Development JV Company as soon as possible after the grant of the Exploitation Permit.


 



	
14.5  

	
Option of Permit Holders to transfer Exploration Permits prior to conversion







 


The Permit Holders may fulfil their obligations under this clause 14 by transferring the Current Permits or the Exploration Permits of which the Current Permits form part, to Madagascar Development JV Company before any Exploitation Permit is issued, subject to compliance with all applicable laws and conditions of grant of the relevant Permits.


 



	
15.  

	
Environment and Mining Operations







 


Prior to undertaking any Mining Operations within the Area of Interest, the Parties must use all reasonable endeavours to ensure Madagascar Development JV Company obtains all relevant environmental approvals necessary under Madagascan law, including the approval of the environmental commitment plan (plan d’engagement environnemental) and of the environmental impact study (Etude d’impact environmental) and the issuance of an environmental authorisation related to the proposed Mining Operations.


 




  





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16.  

	
Other Mineral Rights







 



	
16.1  

	
Holder of Permits and Other Mineral Rights







 


The Parties agree and acknowledge that the Permit Holders are:


 



	
(a)  

	
subject to clause 14, the registered holders of the Permits; and







 



	
(b)  

	
the sole holder of the Other Mineral Rights,







 


and no other party has any rights in the Permits or the Other Mineral Rights other than as contemplated by this Agreement.


 



	
16.2  

	
Priority of exercise of Industrial Mineral Rights by JV Company







 


Subject to clause 16.4, the Permit Holders, as the holder of the Other Mineral Rights, and JV Company must consult, co-operate and otherwise use all reasonable endeavours not to interfere with:


 



	
(a)  

	
the exercise of the Industrial Mineral Rights by JV Company; and







 



	
(b)  

	
the exercise of the Other Mineral Rights by the Permit Holders,







 


but to the extent such interference cannot reasonably be avoided, the exercise of the Industrial Mineral Rights by JV Company will have priority.  Without limiting the foregoing, the Permit Holders, as the holder of the Other Mineral Rights, and JV Company must, prior to the commencement of their respective seasonal exploration programmes on the Area of Interest, consult with each other as to the contents of those programs and use reasonable endeavours to ensure those programs are not incompatible.


 



	
16.3  

	
Exercise of Other Mineral Rights by the Permit Holders







 


In the exercise of the Other Mineral Rights, the Permit Holders must:


 



	
(a)  

	
comply with all applicable laws and conditions of grant of the Permits; and







 



	
(b)  

	
not do or suffer to be done anything which will or may render a Permit liable to cancellation or forfeiture.







 



	
16.4  

	
Suspension of Other Mineral Rights for duration of Mining Operations







 


Subject to clause 16.7, upon JV Company making a Decision to Mine, the Other Mineral Rights of the Permit Holders will be suspended over the Mining Area for the duration of the Mining Operations the subject of that Decision to Mine.


 




  





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16.5  

	
Transfer of Other Mineral Rights







 


The Permit Holders may transfer, assign or otherwise dispose of the whole or any part of the Other Mineral Rights to any person (OMR Transferee) subject to:


 



	
(a)  

	
the Permit Holders giving the JV Company the opportunity to match any bona fide third party offer for the Other Mineral Rights as a right of first refusal for a period of 30 days from the time of notice of the offer from the Permit Holders;







 



	
(b)  

	
the OMR Transferee being technically and financially able to perform the obligations of the Permit Holders as the holder of the Other Mineral Rights under this Agreement to the extent of the interest disposed of; and







 



	
(c)  

	
the OMR Transferee entering into a deed with JV Company and Shareholders whereby the OMR Transferee agrees to be bound by, and assumes the obligations of the Permit Holders as the holder of the Other Mineral Rights under this Agreement (including the obligations under this clause) to the extent of the interest to be disposed of.







 



	
16.6  

	
Transfer of Industrial Mineral Rights







 


JV Company or MadagascarCo may transfer, assign or otherwise dispose of the whole or any part of the Industrial Mineral Rights to any person (IMR Transferee) subject to:


 



	
(a)  

	
JV Company giving the relevant Permit Holders the opportunity to match any bona fide third party offer for the Industrial Mineral Rights as a right of first refusal for a period of 30 days from the time of notice of the offer from JV Company;







 



	
(b)  

	
the IMR Transferee being technically and financially able to perform the obligations of JV Company and MadagascarCo as the holder of the Industrial Mineral Rights under this Agreement to the extent of the interest disposed of; and







 



	
(c)  

	
the IMR Transferee entering into a deed with the relevant Permit Holders whereby the IMR Transferee agrees to be bound by, and assumes the obligations of the Shareholders, JV Company and MadagascarCo as the holder of the Industrial Mineral Rights under this Agreement (including the obligations under this clause) to the extent of the interest to be disposed of.







 



	
16.7  

	
Co-mingling







 



	
(a)  

	
If a deposit of Industrial Minerals is co-mingled or co-incident to a deposit of Other Minerals then the Permit Holders and JV Company will negotiate in good faith the terms on which they will jointly develop the Industrial Minerals and Other Minerals, provided that, subject to clause 16.7(b), in no circumstances will the exploration or development of a deposit of Other Minerals impede the exploration or development of a deposit of Industrial Minerals.







 



	
(b)  

	
The development of a deposit of Other Minerals that is co-mingled or co-incident to a deposit of Industrial Minerals will prevail over the exploration or development of the deposit of Industrial Minerals only in following circumstances:







 




  





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Joint Venture Agreement













 



	
(i)  

	
the deposit of Other Minerals has been determined by a competent person to be an orebody comprising a resource or reserve with a greater net present value than the deposit of Industrial Minerals; and







 



	
(ii)  

	
the Permit Holders can demonstrate to the satisfaction of the JV Company, acting reasonably, that the deposit of Other Minerals can and will be developed and mined within the same timeframe as JV Company proposes to develop and mine the deposit of Industrial Minerals.







 


In this clause 16.7(b), “reserve”, “resource” and “competent person” have the meanings ascribed to those terms in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia and known as the JORC Code.


 



	
(c)  

	
Subject to clause 16.7(d), if the Permit Holders and JV Company are unable to negotiate the joint development of the Industrial Minerals and Other Minerals, then as part of the development of the Industrial Minerals JV Company will, on receiving a written notification from Malagasy, stockpile the Other Minerals so that the Permit Holders may have the benefit of the development of the Other Minerals once JV Company has ceased Mining.







 



	
(d)  

	
Any stockpiling costs associated with the development of Industrial Minerals (including overburden and waste) will be at the expense of JV Company. Any costs associated with the stockpiling of Other Minerals undertaken at the request of Malagasy which are not activities which would have been incurred by JV Company in the course of Mining Operations in any event, including (but not limited to) any ongoing environmental compliance costs, will be funded 100% by Malagasy.







 



	
17.  

	
Operator







 



	
17.1  

	
First Operator







 


Energizer (or its nominee) will be the initial Operator and remain as Operator until it is removed or resigns in accordance with the terms of this Agreement.


 



	
17.2  

	
Functions of the Operator







 


The Operator will:


 



	
(a)  

	
(by itself or through its employees, agents or contractors) manage, direct and control any and all Joint Venture Operations on behalf of and as agent for JV Company, MadagascarCo and the Parties, subject to the applicable laws of the jurisdictions in which the abovementioned entities are incorporated;







 



	
(b)  

	
implement the Programs and Budgets approved by the Board; and







 



	
(c)  

	
implement the decisions of the Board and shall make all expenditures necessary to comply with those instructions and directions.







 



	
17.3  

	
Operator to prepare Programs and Budgets







 


The Operator shall prepare and submit Programs and Budgets for consideration and approval by the Board, which shall be prepared for periods each of 12 months duration commencing on 1 July.


 




  





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17.4  

	
Liability of Operator







 


The Operator shall not have any liability to the Shareholders for losses sustained or liabilities incurred if, in the circumstances of the particular case, it has acted or refrained from acting in the course of performing in good faith its obligations under this Agreement and has not been wilfully or grossly negligent.


 



	
17.5  

	
Indemnity of Operator







 


Each Shareholder severally, to the extent of its Shareholding Interest must indemnify and hold harmless the Operator (acting in that capacity), its directors, employees, agents and contractors (Indemnified Persons) from and against all damage, loss, expense or liability of any nature suffered or incurred by the Indemnified Persons (including any claims made by third parties) in connection with Joint Venture Operations, including any personal injury, disease, illness or death, or physical loss of or damage to property, of the Indemnified Persons or any third party, except, in respect of an Indemnified Person, where that Indemnified Person has committed fraud or has been wilfully or grossly negligent.


 



	
17.6  

	
Preserve Permits







 


The Operator must use all reasonable endeavours and comply with the directions of JV Company to maintain the Permits in Good Standing, subject to receiving sufficient funds to do so in accordance with the provisions of this Agreement.


 



	
17.7  

	
Reporting







 


The Operator will keep the Parties advised of all Joint Venture Operations and will provide any information required to complete reports required to be submitted by any Party under this Agreement, including under clause 10.6, the Mining Code as well as any information required by the Parties to comply with their respective obligations under the listing rules of any securities exchange.


 



	
17.8  

	
Change of Operator







 



	
(a)  

	
Energizer will continue as Operator until:







 



	
(i)  

	
it ceases to hold a majority Shareholding Interest in JV Company; or







 



	
(ii)  

	
it resigns as Operator by giving 30 days' written notice to the other Shareholders of JV Company of its intention to do so.







 



	
(b)  

	
On the resignation or removal of the Operator in accordance with clause 17.8(a), JV Company shall, by way of a Shareholders’ resolution, appoint a new Operator.







 



	
(c)  

	
The resolution referred to in clause 17.8(b) above shall be passed by a Simple Majority.







 



	
18.  

	
Contributions to Joint Venture Costs







 



	
(a)  

	
Subject to clause 18(b), all Joint Venture Costs will be funded 100% by Energizer, including JV Company’s and MadagascarCo’s obligations under clause 10.3.







 




  





 Page 33











  




 



Joint Venture Agreement













 



	
(b)  

	
Subject to clause 19, upon delivery of the Bankable Feasibility Study in accordance with clause 13.1, all Joint Venture Costs in respect to the Mining Area will be funded by the Mining Parties in their Respective Proportions.







 



	
(c)  

	
From the time Malagasy is required to contribute to the funding under clause 18(b) (Contribution Date), Malagasy and its representatives will, at Malagasy’s expense and on reasonable notice, have the right to access, review and audit the expenditure of Mauritian Development JV Company and Madagascar Development JV Company.







 



	
(d)  

	
From the Contribution Date, Mauritian Development JV Company may, from time to time by giving notice simultaneously to all Shareholders in Mauritian Development JV Company, request those Shareholders to fund the Joint Venture Costs in their Respective Proportions (Contribution Notice) and subject to clause 19.1, within one month after notice is given, all Shareholders must fund the amount specified in the notice.







 



	
(e)  

	
Subject to clause 19.3(c), payment of amounts which a Shareholder is required to fund under this clause 18 and clause 19.2(d) shall be deemed to be the subscription by that Shareholder for additional Shares in Mauritian Development JV Company unless otherwise agreed by the Shareholders.







 



	
19.  

	
Right to dilute







 



	
19.1  

	
Election not to fund







 


A Shareholder may, by giving notice to Mauritian Development JV Company within 10 Business Days of receiving notice from Mauritian Development JV Company under clause 18(d), elect not to fund part or all of the amount the subject of that notice.  For the avoidance of any doubt, a Shareholder may exercise its rights under this clause in respect of any Contribution Notice and may elect to contribute to future Contribution Notices after it has elected to dilute in respect of a Contribution Notice.


 



	
19.2  

	
Contributions where election not to fund







 


If Mauritian Development JV Company receives notice of an election by a Shareholder under clause 19.1 (Non-Contributing Shareholder), then:


 



	
(a)  

	
the Non-Contributing Shareholder will not be obliged to contribute the contribution specified in the notice, and:







 



	
(b)  

	
Mauritian Development JV Company may give notice to the other Shareholders of the total amount of Joint Venture Costs not funded by Non-Contributing Shareholders (Shortfall);







 



	
(c)  

	
each other Shareholder (Contributing Shareholder) may, within 10 Business Days after receiving a notice from Mauritian Development JV Company under clause 19.2(b), give notice to Mauritian Development JV Company that it wishes to fund an additional amount of Joint Venture Costs up to the Shortfall (or, if there is more than one Contributing Shareholder and if the total additional amount that Contributing Shareholders wish to fund is greater than the Shortfall, Mauritian Development JV Company will allocate to each Contributing Shareholder that gives notice the proportion of the Shortfall that the amount of additional Joint Venture Costs that the Contributing Shareholder wishes to fund bears to the total additional Joint Venture Costs that all Contributing Shareholders wish to fund); and







 



	
(d)  

	
each Contributing Shareholder must fund the amount of Joint Venture Costs requested from the Contributing Shareholder under clause 19.2(c) and the additional amount of Joint Venture Costs of which it gives notice to Mauritian Development JV Company or which Mauritian Development JV Company allocates to it under clause 19.2(c).







 




  





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19.3  

	
Dilution







 



	
(a)  

	
The Non-Contributing Shareholder’s percentage ownership of Mauritian Development JV Company will be diluted according to the following formula:







 



	
  

	
I      =

	
   A        x  100









	
 

	
   B









 




	
  

	
where:

	 







 



	
  

	
I      =

	
the Non-Contributing Shareholder’s reduced percentage shareholding;







 



	
  

	
A    =

	
the total amount contributed to the funding of Mauritian Development JV Company by the Non-Contributing Shareholder at the date of the calculation plus the deemed contribution of the Non-Contributing Shareholder; and







 



	
  

	
B    =

	
total amount of all funding of Mauritian Development JV Company at the date of the calculation plus the deemed contributions of all Parties,







 


and the percentage ownership in Mauritian Development JV Company of the contributing Shareholder will increase by an amount equal to the reduction of the percentage shareholding of the Non-Contributing Shareholder.


 



	
(b) 

	
For the purposes of the above calculation, the deemed contribution of the Shareholders will be as follows:







 


Malagasy: one third of the actual funding provided by Energizer to JV Mauritian Development JV Company up until Malagasy becomes liable to contribute to funding pursuant to clause 18(b).


 


Energizer: nil.


 


By way of examples, if Energizer has expended $30 million prior to the date on which Malagasy becomes liable to contribute to funding pursuant to clause 18(b) (Contribution Date), then:


 



	
  

	
(a)  

	
As at the Contribution Date:







 



	
  

	
(i)

	
the actual total funding contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
nil








	
  

	
Energizer:

	
$30 million







 




  





 Page 35











  




 



Joint Venture Agreement













 



	
  

	
(ii)

	
the deemed contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
one third of $30 million = $10 million








	
  

	
Energizer:

	
nil







 



	
  

	
(iii)

	
Malagasy’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B  







 



	
  

	
=

	
10 million        x  100








	
  

	
40 million







 



	
  

	
=

	
25%







 



	
  

	
(iv)

	
Energizer’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B 







 



	
  

	
=

	
30 million

	
x  100








	
  

	
40 million







 



	
  

	
=

	
75%







 



	
  

	
(b)

	
If there is then a $10 million programme to which each of Malagasy and Energizer contribute i.e. $2.5 million and $7.5 million respectively, then:







 



	
  

	
(i)

	
the actual total funding contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
$2.5 million








	
  

	
Energizer:

	
$37.5 million







 



	
  

	
(ii)

	
the deemed contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
one third of $30 million = $10 million








	
  

	
Energizer:

	
nil







 



	
  

	
(iii)

	
Malagasy’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B







 



	
  

	
=

	
12.5 million        x  100








	
  

	
50 million







 



	
  

	
=

	
25%







 




  





 Page 36











  




 



Joint Venture Agreement













 



	
  

	
(iv)

	
Energizer’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B







 



	
  

	
=

	
37.5 million

	
x  100








	
  

	
50 million







 



	
  

	
=

	
75%







 



	
  

	
(c)

	
If there is then a $20 million programme to which Malagasy elects NOT to contribute but Energizer does contribute 100% of the $20 million programme cost:







 



	
  

	
(i)

	
the actual total funding contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
$2.5 million








	
  

	
Energizer:

	
$57.5 million







 



	
  

	
(ii)

	
the deemed contribution of the Shareholders will be:







 



	
  

	
Malagasy:

	
one third of $30 million = $10 million








	
  

	
Energizer:

	
nil







 



	
  

	
(iii)

	
Malagasy’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B







 



	
  

	
=

	
12.5 million

	
x  100








	
  

	
70 million







 



	
  

	
=

	
17.86%







 



	
  

	
(iv)

	
Energizer’s percentage ownership of Mauritian Development JV Company will be:







 



	
  

	
I

	
=

	
A

	
x  100








	
  

	
B







 



	
  

	
=

	
57.5 million

	
x   100








	
  

	
70 million







 



	
  

	
=

	
82.14%







 



	
(c)  

	
A reduction to a Shareholder’s Shareholding Interest shall be effected in such manner as may be agreed between the Shareholders, or failing such agreement within 30 Business Days after the dilution occurs, in the manner determined by the Contributing Shareholders, including by means of:







 



	
(i)  

	
a transfer of Shares as between Shareholders;







 



	
(ii)  

	
the forfeiture or cancellation of some or all of the Non-Contributing Shareholder’s Shares; or







 



	
(iii)  

	
the issue of new Shares to the Contributing Parties.







 




  





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Joint Venture Agreement













 



	
20.  

	
Disposal of Shares and pre-emption rights







 


A Shareholder of JV Company or NewCo Mauritius may transfer, assign or otherwise dispose of the whole or any part of their Shares to any person (Share Transferee) subject to:


 



	
(a)  

	
the transferring Shareholder giving the other non-transferring Shareholder the opportunity to match any bona fide third party offer for the Shares as a right of first refusal for a period of 30 days from the time of notice of the offer from the transferring Shareholder;







 



	
(b)  

	
the Share Transferee being technically and financially able to perform the obligations of the transferring Shareholder under this Agreement to the extent of the interest disposed of (for avoidance of doubt if Energizer is proposing to sell its Shares then the purchaser must have the necessary skills to ensure JV Company or NewCo Mauritius (as applicable) can manage the matters contemplated by this Agreement); and







 



	
(c)  

	
the Share Transferee entering into a deed with the non-transferring Shareholder whereby the Transferee agrees to be bound by, and assumes the obligations of the transferring Shareholder under this Agreement (including the obligations under this clause) to the extent of the interest to be disposed of.







 



	
21.  

	
Drag along







 



	
(a)  

	
Subject to clauses 20 and 21(b), if any third person (Offeror) provides to a Shareholder or Shareholders who hold Shares representing not less than 50% of the Shares on issue in the capital of the JV Company or NewCo Mauritius (as applicable) (Majority Shareholder) a bona fide arm’s length offer to purchase all of the Shares in JV Company or NewCo Mauritius (as applicable), and each Share of the same class is proposed to be purchased for equal consideration and on the same terms and conditions, then the Majority Shareholder may require each other Shareholder (Minority Shareholder) by providing notice in writing to transfer its Shares to the Offeror free from all Encumbrances on those same terms and conditions.







 



	
(b)  

	
Clause 21(a) only applies where the Offeror has made a full cash offer to purchase all of the Shares on issue in the capital of the JV Company or NewCo Mauritius (as applicable).







 



	
22.  

	
Tag along







 



	
(a)  

	
Subject to clauses 20 and 22(b), if the Majority Shareholder wishes to accept a bona fide arm’s length offer for all of its Shares from an Offeror and does not serve a notice in accordance with clause 21, then the Minority Shareholder may require the Majority Shareholder to cause the Offeror to purchase all of the Shares of the Minority Shareholder at a price per Share and on such other terms and conditions as are no less favourable to those offered to the Majority Shareholder by the Offeror for the Shares of the Majority Shareholder.







 



	
(b)  

	
Clause 22(a) only applies where the Offeror has made a full cash offer to purchase all of the Shares on issue in the capital of the JV Company or NewCo Mauritius (as applicable).







 




  





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Joint Venture Agreement













 



	
23.  

	
Interest below 10%







 



	
(a)  

	
If at any time a Shareholder’s Shareholding Interest in JV Company or NewCo Mauritius is reduced to 10% or less, then that Shareholder will be deemed to have assigned and transferred its remaining Shareholding Interest to the other Shareholder in consideration for the other Shareholder procuring that JV Company or NewCo Mauritius pay a royalty of an amount equal to two percent (2%) of net smelter returns of all Industrial Minerals produced from the Area of Interest calculated in accordance with Schedule 4.







 



	
(b)  

	
In circumstances where a royalty becomes payable in accordance with clause 23(a), the payee of the royalty may transfer, assign or otherwise dispose of its interest in the royalty to any person (Royalty Transferee) subject to:







 



	
(i)  

	
the payee of the royalty giving the payer of the royalty the opportunity to match any bona fide third party offer for the royalty as a right of first refusal for a period of 30 days from the time of notice of the offer from the payee; and







 



	
(ii)  

	
the Royalty Transferee entering into a deed with the payer of the royalty whereby the Royalty Transferee agrees to be bound by, and assumes the obligations of the payee under this Agreement (including the obligations under this clause) to the extent of the interest to be disposed of.







 



	
24.  

	
Representations and warranties







 



	
24.1  

	
Representations and warranties by Energizer







 


Energizer represents and warrants to Malagasy as at the Execution Date that:


 



	
(a)  

	
it is validly incorporated and subsisting under the laws of Minnesota, USA;







 



	
(b)  

	
the execution and delivery of this Agreement has been duly and validly authorised by all necessary corporate action;







 



	
(c)  

	
it has corporate power and lawful authority to execute and deliver this Agreement and to observe and perform or cause to be observed and performed all of its obligations in and under this Agreement;







 



	
(d)  

	
this Agreement does not conflict with or constitute or result in a material breach of or default under any agreement, deed, writ, order, injunction, judgment, law, rule or regulation to which it is a party or is subject or by which it is bound in a manner which may materially and adversely affect the rights and interests of a Party under this Agreement; and







 



	
(e)  

	
it is solvent and is capable of performing its obligations under this Agreement.







 




  





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Joint Venture Agreement













 



	
24.2  

	
Representations and warranties by Malagasy







 



	
(a)  

	
Malagasy represents and warrants to Energizer as at the Execution Date that:







 



	
(i)  

	
it is validly incorporated and subsisting under the laws of Australia;







 



	
(ii)  

	
the execution and delivery of this Agreement has been duly and validly authorised by all necessary corporate action;







 



	
(iii)  

	
it has corporate power and lawful authority to execute and deliver this Agreement and to observe and perform or cause to be observed and performed all of its obligations in and under this Agreement;







 



	
(iv)  

	
this Agreement does not conflict with or constitute or result in a material breach of or default under any agreement, deed, writ, order, injunction, judgment, law, rule or regulation to which it is a party or is subject or by which it is bound in a manner which may materially and adversely affect the rights and interests of a Party under this Agreement; and







 



	
(v)  

	
it is solvent and is capable of performing its obligations under this Agreement.







 



	
(b)  

	
Subject to clause 24.3, Malagasy represents and warrants to Energizer as at the Execution Date, and to Energizer, JV Company and MadagascarCo as at the date of execution of the Subleases that:







 



	
(i)  

	
it has full right, power and authority to grant the Subleases to MadagascarCo in accordance with this Agreement;







 



	
(ii)  

	
its subsidiaries, Mazoto, MDA and Energex are the registered and beneficial holders of the Exploration Permits; provided that, the Parties acknowledge that the relevant Permits held by Energex are currently in the process of being transferred to MDA; however, they remain subject to the current moratorium on transfer of Permits and therefore are technically still in the name of Energex.







 



	
(iii)  

	
other than under the terms of the Labradorite Subleases, no person other than Malagasy and or its Related Bodies Corporate has any proprietary rights of any nature in respect of the Exploration Permits and they have not granted to any person any rights to own or possess any interest or any rights to explore or prospect for minerals or to mine the same in any part of the land comprising the Exploration Permits;







 



	
(iv)  

	
the Exploration Permits are free of any Encumbrances except to the extent of any conditions imposed under the Mining Code on the Exploration Permits;







 



	
(v)  

	
there is no litigation or proceeding of any nature concerning the Exploration Permits, pending or threatened against them or any other person which may defeat, impair, detrimentally affect or reduce the right, title and interest of JV Company or MadagascarCo in the Exploration Permits or the interest therein, including any plaint seeking forfeiture of the Exploration Permits;







 



	
(vi)  

	
to the best of its knowledge, the Exploration Permits have been duly marked off, granted and applied for in accordance with the Mining Code;







 




  





 Page 40











  




 



Joint Venture Agreement













 



	
(vii)  

	
the Exploration Permits are in full force and effect and in Good Standing and not liable to cancellation or forfeiture for any known reasons and they are not in breach or contravention of any of the terms and conditions upon which the Exploration Permits were granted or of any other rule, regulation or provision of the Mining Code or any other statute concerning, affecting or relating to the Exploration Permits;







 



	
(viii)  

	
there are no facts or circumstances that could, under the currently applicable laws of Madagascar, give rise to the cancellation, forfeiture or suspension or grant of the Exploration Permits when renewed, that could have a Material Adverse Effect;







 



	
(ix)  

	
except as disclosed to Energizer before the Execution Date, there are no agreements or dealings in respect of the Exploration Permits;







 



	
(x)  

	
there is not in existence any current compensation agreement with the owner or occupier of any land which is subject to the Exploration Permits;







 



	
(xi)  

	
there are no Environmental Liabilities relating to or affecting the Exploration Permits, nor are there any circumstances relating to the Exploration Permits which may reasonably be expected to give rise to future Environmental Liabilities, except to the extent of any report, study or assessment required to be lodged pursuant to the Mining Code or other regulation in relation to the Exploration Permits;







 



	
(xii)  

	
the Mining Information is complete and accurate in all material respects; and







 



	
(xiii)  

	
the Exploration Permits have been granted in respect of all of the ground described in the Exploration Permits.







 



	
24.3  

	
Disclaimer of liability by Malagasy







 


Malagasy is not liable for any loss arising from a breach of the warranties and representations in clause 24.2(b) to the extent such loss is:


 



	
(a)  

	
a result of the political situation in Madagascar including as a result of:







 



	
(i)  

	
the current moratorium on renewal or transfer of Permits; or







 



	
(ii)  

	
processing of applications to add any Industrial Minerals to Permits by the Mining Department;







 



	
(b)  

	
disclosed by Malagasy to Energizer or is known by Energizer prior to payment of the Cash Consideration;







 



	
(c)  

	
in excess of the total amount of the consideration in clause 3.1 and 3.2; or







 



	
(d)  

	
caused or contributed to by a breach by Energizer, JV Company or MadagascarCo or their respective obligations under this Agreement.







 




  





 Page 41











  




 



Joint Venture Agreement













 



	
25.  

	
Guarantee by Malagasy







 



	
(a)  

	
Malagasy agrees to guarantee to Energizer the due performance and observance by each of MDA, Mazoto and Energex of each and every obligation of MDA, Mazoto and Energex under:







 



	
(i)  

	
this Agreement; and







 



	
(ii)  

	
any Sublease Agreement entered into by the Parties in accordance with this Agreement.







 



	
(b)  

	
Malagasy agrees to indemnify Energizer in relation to any loss suffered as a result of MDA, Mazoto or Energex failing to perform or observe any of their obligations under:







 



	
(i)  

	
this Agreement; and







 



	
(ii)  

	
any Sublease Agreement entered into by the Parties in accordance with this Agreement.







 



	
26.  

	
Guarantee by Energizer







 


By executing this Agreement, Energizer guarantees to Malagasy and the Permit Holders the due performance and observance by each of JV Company and MadagascarCo of each and every obligation of JV Company and MadagascarCo under this Agreement other than those obligations of JV Company and MadagascarCo under this Agreement that relate to a Mining Area.


 



	
27.  

	
Assignment







 



	
(a)  

	
No Party may assign, sublet, licence or otherwise transfer or part with, mortgage, encumber or in any way deal with its interest under this Agreement otherwise than in accordance with the provisions of this Agreement.







 



	
(b)  

	
At any time during the Term, Energizer may assign all or any of its rights or obligations under this Agreement as a matter of right to any Related Body Corporate of Energizer without Malagasy’s consent, provided that the assignee enters into an Accession Deed.







 




	
28.  

	
Termination







 



	
28.1  

	
Termination events







 


This Agreement terminates immediately upon the occurrence of:


 



	
(a)  

	
any unanimous agreement by the Shareholders to that effect;







 



	
(b)  

	
in relation to any Party, that Party ceasing to hold any Shares in JV Company; and







 



	
(c)  

	
MadagascarCo ceasing to have any rights to any of the Industrial Mineral Rights.







 




  





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Joint Venture Agreement













 



	
28.2  

	
Event of Default







 



	
(a)  

	
Should a Party fail to do, execute or perform any material act or thing which such Party is obliged to do, execute or perform pursuant to this Agreement (Event of Default), the aggrieved Party may give the defaulting Party a notice requiring the defaulting Party to remedy such Event of Default within a period of 30 days following service of the notice or if such default is not capable of being remedied within such period of 30 days then within such further period as the aggrieved Party or Parties shall deem reasonable.







 



	
(b)  

	
If a Party serves a notice of default under clause 28.2(a) and such default remains un-remedied upon expiry of the period specified in such notice for rectification, the aggrieved Party may terminate this Agreement forthwith upon the service of a further notice in writing to that effect and upon the service of such further notice this Agreement shall terminate forthwith without prejudice to the rights and remedies of the aggrieved Party at law or otherwise howsoever arising.







 



	
(c)  

	
Clause 28.2(a) does not apply to any Event of Default for which another remedy is provided in this Agreement.  By way of example, clause 28.2(a) does not apply to a failure to contribute to a Contribution Notice but instead clause 19 would apply to such failure to contribute.







 



	
28.3  

	
Effect of termination







 



	
(a)  

	
Termination of this Agreement releases each Party from any further performance of any liability under this Agreement but does not:







 



	
(i)  

	
affect any provision of this Agreement expressed to operate or have effect after termination; or







 



	
(ii)  

	
have any prejudicial effect on any accrued right of any Party in relation to any breach or default under this Agreement by any other Party occurring before termination.







 



	
(b)  

	
If this Agreement is terminated in accordance with clause 28.2, the aggrieved Party has an option to acquire the defaulting Party’s rights and interests under this Agreement at:







 



	
(i)  

	
a value determined by the Parties negotiating in good faith; or







 



	
(ii)  

	
in the absence of agreement under clause 28.3(b)(i) above, a discount of 10% to market value as determined by an independent expert appointed in accordance with clause 32.2.







 



	
28.4  

	
Continuing remedies







 


Each Party, following termination of this Agreement under this clause 28, retains any right against any other Party under this Agreement in relation to any breach or default by that other Party that accrued before termination, in addition to any other right provided by law, except to the extent that the liability of that other Party is excluded or limited under any provision of this Agreement.


 




  





 Page 43











  




 



Joint Venture Agreement













 



	
29.  

	
Force Majeure







 



	
29.1  

	
Force Majeure







 


In this clause 29 Force Majeure means any act, event or cause which is beyond the reasonable control of the Party concerned (other than lack of or inability to use funds), including:


 



	
(a)  

	
act of God, accident of navigation, war (whether declared or not), sabotage, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, lightning, flood, earthquake, landslide, storm or other severe adverse weather conditions, explosion, power shortage, strike or other labour difficulty (whether or not involving employees of a Party concerned), epidemic, quarantine, radiation or radioactive contamination;







 



	
(b)  

	
action or inaction of any government or governmental or other competent Governmental Agency (including any court) including expropriation, restraint, prohibition, intervention, requisition, requirement, direction or embargo by legislation, regulation or other legally enforceable order;







 



	
(c)  

	
delay in the grant of access to a Permit;







 



	
(d)  

	
inability to secure, on commercially acceptable terms, rights of access to a Permit from the owners, occupiers, lessees, custodians, trustees, native title claimants or holders of any land to which the Permit relates;







 



	
(e)  

	
breakdown of plant, machinery or equipment or shortages of labour, transportation, fuel, power, plant, machinery, equipment or material; and







 



	
(f)  

	
any other cause which by the exercise of foresight or due diligence, a Party is unable to prevent or overcome.







 



	
29.2  

	
Relief







 


If, as a direct result of Force Majeure, a Party becomes unable, wholly or in part, to perform any of its obligations or to exercise a right under this Agreement:


 



	
(a)  

	
that Party is to give the other Party prompt notice of the Force Majeure with reasonably full particulars and, insofar as known to it, the probable extent to which it will be unable to perform, or be delayed in performing its obligation or exercising its right;







 



	
(b)  

	
that obligation, other than an obligation to pay money, is suspended and the time for performing that obligation or for exercising that right is extended but only so far as and for so long as it is affected by the Force Majeure; and







 



	
(c)  

	
the affected Party is to use all possible diligence to overcome or remove the Force Majeure as quickly as possible.







 



	
29.3  

	
Labour disputes







 


Clause 29.2(c) does not require the affected Party to:


 



	
(a)  

	
settle any strike or other labour dispute on terms contrary to its wishes; or







 




  





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Joint Venture Agreement













 



	
(b)  

	
contest the validity or enforceability of any law, regulation or legally enforceable order by way of legal proceedings.







 



	
29.4  

	
Resumption







 


The obligation of the affected Party to perform its obligations, resumes as soon as it is no longer affected by the Force Majeure.


 



	
30.  

	
Dispute resolution







 



	
30.1  

	
Application







 


This clause 30 applies to any dispute or difference (dispute) (other than a dispute to which clause 31 applies) arising between the Parties in relation to:


 



	
(a)  

	
this Agreement or its interpretation;







 



	
(b)  

	
any right or liability of any Party under this Agreement; or







 



	
(c)  

	
the performance of any action by any Party under or arising out of this Agreement, whether before or after its termination.







 



	
30.2  

	
Dispute negotiation







 



	
(a)  

	
A Party must not commence legal proceedings in relation to a dispute or refer a dispute to arbitration under this Agreement, unless that Party has complied with this clause 30.







 



	
(b)  

	
A Party claiming that a dispute has arisen must notify the other Party specifying details of the dispute.







 



	
(c)  

	
Each Party must refer a dispute to an authorised officer of that Party for consideration and use its best efforts to resolve the dispute through negotiation within seven (7) Business Days following the dispute notification or longer period agreed between the Parties.







 



	
(d)  

	
Each Party must refer the dispute to its chief executive officer, in the event that the authorised officers of the Parties fail to resolve the dispute within the specified period.







 



	
(e)  

	
Each Party must following reference to its chief executive officer use its best efforts to resolve the dispute by agreement or through an agreed mediation procedure.







 



	
(f)  

	
A Party in compliance with this clause 30.2 may terminate the dispute resolution process by notice to the other Party at any time after seven (7) Business Days following reference of the dispute to its chief executive officer.







 



	
(g)  

	
A Party is not required to comply with this clause 30.2 in relation to any dispute where the other Party is in breach of or default under this clause 30.2 in relation to that dispute.







 




  





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Joint Venture Agreement













 



	
30.3  

	
Arbitration







 


Each Party must submit any dispute which remains unresolved following the negotiation process specified in clause 30.2 to arbitration under the Arbitration Rules of SIAC in accordance with the following procedures:


 



	
(a)  

	
the arbitration will be conducted by three arbitrators, who will be appointed as agreed by the Parties or, failing such agreement, by the Deputy President of SIAC or his or her nominee;







 



	
(b)  

	
the arbitration will be conducted in English;







 



	
(c)  

	
each Party is entitled to legal representation at any arbitration; and







 



	
(d)  

	
any arbitration will be conducted in Singapore, or at such other place as the Parties may agree.







 



	
30.4  

	
Urgent relief







 


A Party may at any time apply to a court of competent jurisdiction for any equitable or other remedy for reasons of urgency, despite anything contained in this clause 30.


 



	
30.5  

	
Continued performance







 


A Party must continue to perform any obligation or liability of that Party in compliance with this Agreement relating to any issue in dispute, despite and during any dispute negotiation or arbitration being conducted under this clause 30.


 



	
31.  

	
Disputes as to Technical or Financial Matters







 



	
31.1  

	
Definitions







 


In this clause 31:


 



	
(a)  

	
Technical Matter means a matter which is capable of determination by reference to Mining knowledge or practice; and







 



	
(b)  

	
Financial Matter means a matter which is capable of determination by audit or reference to financial or accounting records, knowledge or practice.







 



	
31.2  

	
Application







 



	
(a)  

	
This clause 31 applies to any dispute arising between the Parties in relation to a Financial Matter or a Technical Matter.







 



	
(b)  

	
This clause 31 does not prevent any Party from seeking urgent interlocutory or declaratory relief from a court of competent jurisdiction where, in that Party's reasonable opinion, that action is necessary to protect that Party's rights.







 



	
31.3  

	
Dispute negotiation







 


A Party claiming that a dispute in relation to Financial Matters or Technical Matters has arisen must notify the other Party specifying details of the dispute and convene a meeting of the senior management of the Parties within 10 Business Days of the notice of dispute to discuss the dispute with the aim of resolving it.


 




  





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31.4  

	
Independent Expert







 


If the dispute is not resolved by negotiations between the senior management of the Parties within 20 Business Days of the first meeting between senior management under clause 31.3 and the Dispute relates to a Financial Matter or a Technical Matter, either Party may submit the dispute to an Independent Expert for determination in accordance with clause 32.


 



	
32.  

	
Expert Determination







 



	
32.1  

	
Referral to Independent Expert







 


Wherever under this Agreement:


 



	
(a)  

	
a Party submits a dispute in accordance with clause 31; or







 



	
(b)  

	
the Parties agree that a dispute between them will be resolved by an Independent Expert; or







 



	
(c)  

	
a dispute is required by this Agreement to be determined by an Independent Expert,







 


then the dispute may be referred by either Party to an Independent Expert under this clause 32.


 



	
32.2  

	
Appointment of Independent Expert







 


The procedure for the appointment of an Independent Expert will be as follows:


 



	
(a)  

	
the Parties must endeavour to agree upon the identity of a single Independent Expert to whom the dispute will be referred for determination as soon as is reasonably practicable;







 



	
(b)  

	
if the Parties are unable to agree upon the identity of a single Independent Expert within 20 Business Days, the Parties will, as soon as practicable thereafter:







 



	
(i)  

	
in the case of a Financial Matter, request the President of the Institute of Chartered Accountants in Australia to appoint the Independent Expert; and







 



	
(ii)  

	
in the case of a Technical Matter, request the President of the Australasian Institute of Mining and Metallurgy to appoint the Independent Expert; and







 



	
(c)  

	
within 10 Business Days of appointment, the Independent Expert must set a time and place for receiving the Parties’ submissions.







 



	
32.3  

	
Requirements of Independent Expert







 



	
(a)  

	
The Independent Expert will be required to have appropriate commercial and practical experience and expertise in the area of the dispute.







 



	
(b)  

	
Any person nominated to act as an Independent Expert will be required to fully disclose any interest or duty prior to that person’s appointment. If that person has or may have any interest or duty which conflicts with their appointment as Independent Expert, then that person may not be appointed except with the agreement of all parties to the dispute.







 




  





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(c)  

	
Any person nominated to act as an Independent Expert must, before they are appointed, confirm in writing that they are able to resolve the dispute within a reasonable time.







 



	
(d)  

	
The Independent Expert appointed under clause 32.2 will act as an expert and not as an arbitrator.







 



	
32.4  

	
Rights of the Parties







 


Each Party:


 



	
(a)  

	
may be legally represented at any hearing before the Independent Expert;







 



	
(b)  

	
is entitled to produce to the Independent Expert any materials or evidence which that Party believes is relevant to the dispute; and







 



	
(c)  

	
must make available to the Independent Expert all materials requested by the Independent Expert and all other materials which are relevant to the Independent Expert’s determination.







 



	
32.5  

	
Confidentiality







 


Unless otherwise agreed by the Parties involved in the determination by the Independent Expert, all material and evidence made available for the purposes of the determination must be kept private and confidential.


 



	
32.6  

	
Determination







 



	
(a)  

	
The Independent Expert must make a determination on the dispute within 70 Business Days of appointment and must determine what, if any, adjustments may be necessary between the Parties. The determination of the Independent Expert:







 



	
(i)  

	
must be in the form of a written report;







 



	
(ii)  

	
will be final and binding upon the Parties except in the case of bias, fraud, manifest mistake or error; and







 



	
(iii)  

	
will be kept private and confidential unless otherwise agreed to by all Parties involved in the determination.







 



	
(b)  

	
If the Independent Expert does not determine the dispute within 70 Business Days of appointment, either Party may terminate the appointment by written notice and a new Independent Expert will be appointed within 10 Business Days in accordance with the procedure set out in clause 32.2.







 



	
32.7  

	
Costs of Independent Expert







 


The costs in relation to a determination by the Independent Expert will be dealt with as follows:


 




  





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Joint Venture Agreement













 



	
(a)  

	
the costs of the Independent Expert will be apportioned between the Parties in such proportions as the Independent Expert thinks fit, otherwise the Parties will each bear their own costs; and







 



	
(b)  

	
the Parties will each bear their own costs incurred in the preparation and presentation of any submissions or evidence to the Independent Expert.







 



	
33.  

	
Status of Agreement and further acts







 



	
(a)  

	
The Parties agree that this Agreement is binding upon them and intend that this Agreement is legally enforceable in accordance with its terms.







 



	
(b)  

	
Each Party must promptly do all further acts and execute and deliver all further documents (in form and content reasonably satisfactory to that Party) required by law or reasonably requested by any other party to give effect to this Agreement and the transactions contemplated by this Agreement.







 



	
34.  

	
Relationship between Parties







 



	
(a)  

	
Nothing in this Agreement is to be construed so to constitute a Party a partner, agent or representative of any other Party or to create any partnerships or trust for any purpose howsoever except to the extent to which the operator is the agent of the Parties.  No Party will be under any fiduciary or other duty to the other which will prevent it from engaging in or enjoying the benefits of any competing endeavours subject to the express provisions of this Agreement.







 



	
(b)  

	
No Party will have any authority to act on behalf of any other Party, except as expressly provided in this Agreement. Where a Party acts on behalf of another without authority, such Party must indemnify the other from any losses, claims, damages and liabilities arising out of any such act.







 



	
(c)  

	
Each Party has the unrestricted right to engage in and receive the full benefit of any competing activities outside the area the subject of the Joint Venture Operations.







 



	
(d)  

	
Any agreement which is entered into by JV Company, MadagascarCo or the Operator on behalf of JV Company or MadagascarCo in the performance of its functions and obligations under this Agreement with a Shareholder, a Related Body Corporate of a Shareholder or an officer or director of a Shareholder or a Related Body Corporate of the Shareholder must:







 



	
(i)  

	
be on terms no less commercially reasonable in the particular circumstances of the agreement than would have been the case had the agreement been entered into on normal arm’s length commercial terms with a third party who is not a Shareholder, a Related Body Corporate of a Shareholder or an officer or director of a Shareholder or a Related Body Corporate of a Shareholder; and







 



	
(ii)  

	
be entered into in good faith in the best interests of the Joint Venture.







 




  





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Joint Venture Agreement













 



	
35.  

	
Confidentiality and public announcements







 



	
35.1  

	
Confidentiality







 


Subject to clause 35.6, each Party (for this clause Recipient) who is in possession or control of or has access to Confidential Information of another Party or a Related Body Corporate of another Party (Owner) must use that Confidential Information only for the purposes of acts contemplated by this Agreement, and keep that Confidential Information confidential and not disclose it or allow it to be disclosed to any third party except:


 



	
(a)  

	
if the information is at the time generally and publicly available other than as a result of breach of confidence by the Recipient;







 



	
(b)  

	
if the information is at the time lawfully in the possession of the proposed recipient of the information through sources other than the Recipient;







 



	
(c)  

	
by the Recipient to legal and other professional advisers and other consultants and officers and employees of:







 



	
(i)  

	
the Recipient; or







 



	
(ii)  

	
the Recipient's Related Bodies Corporate,







 


in any case requiring the information for the purposes of this Agreement or any transaction contemplated by it, or for the purpose of advising that Party in relation thereto;


 



	
(d)  

	
with the prior written consent of the Owner;







 



	
(e)  

	
to the extent required by law or by a lawful requirement of any Governmental Agency having jurisdiction over the Recipient or any of its Related Bodies Corporate;







 



	
(f)  

	
if required in connection with legal proceedings or arbitration relating to this Agreement or for the purpose of advising the Recipient in relation thereto;







 



	
(g)  

	
if and to the extent that it may be necessary or desirable to disclose to any Governmental Agency in connection with applications for consents, approvals, authorities or licenses in relation to this Agreement;







 



	
(h)  

	
to the extent required by a lawful requirement of any stock exchange having jurisdiction over the Recipient or any of its Related Bodies Corporate;







 



	
(i)  

	
if necessary or commercially desirable to be disclosed in any prospectus or information memorandum to investors or proposed or prospective investors:







 



	
(i)  

	
for an issue or disposal of any shares or options in the Recipient or any of its Related Bodies Corporate;







 



	
(ii)  

	
for an issue of debt instruments of the Recipient or any of its Related Bodies Corporate; or







 



	
(iii)  

	
for the purposes of the Recipient obtaining a listing on any stock exchange of any shares, options or debt instruments;







 




  





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Joint Venture Agreement













 



	
(j)  

	
if necessary or commercially desirable to be disclosed to a professional investor or investment adviser for the purposes of enabling an assessment to be made about the merits or otherwise of an investment in the Recipient or any of its Related Bodies Corporate;







 



	
(k)  

	
if necessary or commercially desirable to be disclosed to an existing or bona fide proposed or prospective:







 



	
(i)  

	
financier of the Recipient or of any of its Related Bodies Corporate; or







 



	
(ii)  

	
rating agency in respect of the Recipient or of any of its Related Bodies Corporate;







 



	
(l)  

	
if necessary or commercially desirable to be disclosed to any bona fide proposed or prospective:







 



	
(i)  

	
transferee of any property to which the information relates or of any shares in the Recipient or any Related Body Corporate of the Recipient;







 



	
(ii)  

	
financier of such transferee providing or proposing or considering whether to provide financial accommodation; or







 



	
(iii)  

	
assignee of rights under the Recipient's financing documents; or







 



	
(m)  

	
if necessary or commercially desirable to be disclosed to legal and other professional advisers and other consultants and officers or employees of any of the persons referred to in clause 35.1(j), 35.1(k), or 35.1(l).







 



	
35.2  

	
Conditions







 



	
(a)  

	
In the case of a disclosure under clause 35.1(c) or 35.1(d) and, where appropriate, under clause 35.1(e), 35.1(f), 35.1(h) and 35.1(i), the Party wishing to make the disclosure must inform the proposed recipient of the confidentiality of the information and the Party must take such precautions as are reasonable in the circumstances to ensure that the proposed recipient keeps the information confidential.







 



	
(b)  

	
In the case of a disclosure under clause 35.1(j), 35.1(k) or 35.1(l) or (in the case of legal and other professional advisers and other consultants only) 35.1(m) the Party wishing to make the disclosure must not make any disclosure unless:







 



	
(i)  

	
in the case of a disclosure under clause 35.1(j), 35.1(k) or 35.1(l) the proposed recipient has first entered into and delivered to the Shareholders a confidentiality undertaking in a form acceptable to the other Shareholders; or







 



	
(ii)  

	
in the case of a disclosure under clause 35.1(m) the principal or employer of the proposed recipient has first entered into and delivered to the Shareholders a confidentiality undertaking in a form acceptable to the other Shareholders which will incorporate a warranty by the principal or employer of the proposed recipient that the proposed recipient is under an obligation of confidentiality to the principal or employer and that the principal or employer will enforce that obligation to the fullest extent that the law or equity allows upon being called upon to do so by any of the Shareholders.







 




  





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35.3  

	
Notice to other Shareholders







 


Each Party must:


 



	
(a)  

	
promptly inform each other Party of any request received by that Party from any person described in clause 35.1(e) to disclose information under that clause;







 



	
(b)  

	
inform all other Shareholders as soon as reasonably practicable after information is disclosed by the Party under clause 35.1(e) and







 



	
(c)  

	
not disclose any information under clause 35.1 unless all other Shareholders have been informed of the proposed disclosure.







 



	
35.4  

	
Indemnities







 


Each Party indemnifies each other Party against any costs, losses, damages and liabilities suffered or incurred by that other Party arising out of or in connection with any disclosure by the first-mentioned Party of information in contravention of this clause 35.


 



	
35.5  

	
Survival of confidentiality obligations







 


The obligations of confidentiality imposed by this clause 35 survive the termination of this Agreement and any person who ceases to be a Party continues to be bound by those obligations.


 



	
35.6  

	
Use of Mining Information in respect to Other Mineral Rights







 


Nothing in this clause 35 prevents Malagasy from using the Mining Information in relation to the exploration and development of the Other Minerals.


 



	
36.  

	
Notices







 


Each communication (including each notice, consent, approval, request and demand) under or in connection with this Agreement:


 



	
(a)  

	
must be in writing;







 



	
(b)  

	
must be addressed as follows (or otherwise notified by that Party to the other Party from time to time):







 




  





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To Energizer

	
Energizer Resources Inc

	
 


	 	 	 
	 	Attention:	 
Chief Executive Officer


	 	 	 
	 	 
Address:

	 
Energizer Resources Inc.


141 Adelaide Street 
West Suite 520


Toronto, Ontario


CANADA




	 	 	 
	 	Facsimile:	+1 416.364.2753
	 	 	 
	
To Malagasy or the Permit Holders

	
Malagasy Minerals Limited 

	 
	 	 	 
	 	Attention: 	Managing Director
	 	 	 
	 	Address:  	Malagasy Minerals Limited 
Unit 7, 11 Colin Grove


West Perth


Western Australia 6005


AUSTRALIA


	 	 	 
	 	Facsimile: 	+61 8 9463 6657





 



	
(c)  

	
must be signed by the Party making it or (on that party’s behalf) by the solicitor for or any attorney, director, secretary or authorised agent of that Party;







 



	
(d)  

	
must be delivered by hand or posted by prepaid post to the address, or sent by fax to the number, of the addressee; and







 



	
(e)  

	
is taken to be received by the addressee:







 



	
(i)  

	
(in the case of prepaid post sent to an address in the same country) on the third day after the date of posting;







 



	
(ii)  

	
(in the case of prepaid post sent to an address in another country) on the fifth day after the date of posting;







 



	
(iii)  

	
(in the case of fax) at the time in the place to which it is sent equivalent to the time shown on the transmission confirmation report produced by the fax machine from which it was sent; and







 



	
(iv)  

	
(in the case of delivery by hand) on delivery;







 


but if the communication is taken to be received on a day that is not a working day or after 5.00 pm, it is taken to be received at 9.00 am on the next working day (“working day” meaning a day that is not a Saturday, Sunday or public holiday, and is a day on which banks are open for business generally, in the place to which the communication is posted, sent or delivered).


 



	
37.  

	
Miscellaneous







 



	
37.1  

	
Governing law







 


This Agreement is governed by and must be construed according to the law applying in Ontario, Canada.


 




  





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37.2  

	
Amendments







 


This Agreement may only be varied by a document signed by or on behalf of each of the Parties.


 



	
37.3  

	
Primacy of this Agreement







 


The Parties agree that this Agreement has primacy over any ancillary agreement contemplated by this Agreement, including the Sublease Agreements and, in the case of inconsistency, the terms and conditions of this Agreement will prevail.  Each Party agrees that it will procure that any subsidiary of it will comply with the terms of this Agreement notwithstanding any inconsistency between this Agreement any ancillary agreement contemplated by this Agreement which a subsidiary of a Party is a party to.


 



	
37.4  

	
Language







 


Where this Agreement or any ancillary agreement to this Agreement, including the Sublease Agreements, is written and signed in any other language other than English (including French), both versions are equally valid.  However, in the case of inconsistency, the Parties agree that the English version of the relevant agreement shall prevail.


 



	
37.5  

	
Waiver







 



	
(a)  

	
Failure to exercise or enforce, or a delay in exercising or enforcing, or the partial exercise or enforcement, of a right provided by law or under this Agreement by a Party does not preclude, or operate as a waiver of, the exercise or enforcement, or further exercise or enforcement, of that or any other right provided by law or under this Agreement.







 



	
(b)  

	
A waiver or consent given by a Party under this Agreement is only effective and binding on that Party if it is given or confirmed in writing by that Party.







 



	
(c)  

	
No waiver of a breach of a term of this Agreement operates as a waiver of another breach of that term or of a breach of any other term of this Agreement.







 



	
37.6  

	
Consents







 


A consent required under this Agreement from a Party may be given or withheld, or may be given subject to any conditions, as that Party in its absolute discretion thinks fit, unless this Agreement expressly provides otherwise.


 



	
37.7  

	
Counterparts







 


This Agreement may be executed in any number of counterparts and by the Parties on separate counterparts. Each counterpart constitutes an original of this Agreement and all together constitute one agreement.


 



	
37.8  

	
No representation or reliance







 



	
(a)  

	
Each Party acknowledges that neither Party (nor any person acting on a Party’s behalf) has made any representation or other inducement to it to enter into this Agreement except for representations or inducements expressly set out in this Agreement.







 




  





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(b)  

	
Each Party acknowledges and confirms that it does not enter into this Agreement in reliance on any representation or other inducement by or on behalf of the other Party, except for representations or inducements expressly set out in this Agreement.







 



	
37.9  

	
Expenses







 


Except as otherwise provided in this Agreement, each Party must pay its own costs and expenses in connection with negotiating, preparing, executing and performing this Agreement.


 



	
37.10  

	
Entire agreement







 


To the extent permitted by law, in relation to its subject matter this Agreement:


 



	
(a)  

	
embodies the entire understanding of the Parties, and constitutes the entire terms agreed by the Parties; and







 



	
(b)  

	
supersedes any prior written or other agreement of the Parties.







 



	
37.11  

	
Indemnities







 



	
(a)  

	
Each indemnity in this Agreement is a continuing obligation, separate and independent from the other obligations of the Parties, and survives termination, completion or expiration of this Agreement.







 



	
(b)  

	
It is not necessary for a Party to incur expense or to make any payment before enforcing a right of indemnity conferred by this Agreement.







 



	
(c)  

	
A Party must pay on demand any amount it must pay under an indemnity in this Agreement.







 



	
37.12  

	
Severance and enforceability







 


Any provision, or the application of any provision, of this Agreement that is void, illegal or unenforceable in any jurisdiction does not affect the validity, legality or enforceability of that provision in any other jurisdiction or of the remaining provisions of this Agreement in that or any other jurisdiction.


 



	
37.13  

	
No merger







 


The rights and obligations of the Parties under this Agreement do not merge on completion of any transaction under this Agreement, and survive the execution and delivery of any assignment or other document entered into for the purpose of implementing any transaction under this Agreement.


 



	
37.14  

	
Power of attorney







 



	
(a)  

	
Each attorney who signs this Agreement on behalf of a Party declares that the attorney has no notice from the Party who appointed him that the power of attorney granted to him, under which the attorney signs this Agreement, has been revoked or suspended in any way.







 



	
(b)  

	
Each Party represents and warrants to each other that its respective attorney or authorised officer who signs this Agreement on behalf of that Party has been duly authorised by that Party to sign this Agreement on its behalf and that authorisation has not been revoked.







 




  





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37.15  

	
Taxes







 


Any value added or goods and services taxes (including TVA) that may be imposed by any authorities in connection with the grant of the exploration rights or the subleases pursuant to this Agreement and any registration taxes, imposts, fees and costs in relation to the registration of this Agreement or the Sublease Agreements or the rights created thereunder, will be for the account of and the liability of JV Company and JV Company will indemnify and hold the Permit Holders harmless against any liability for the same, provided that under no circumstances may JV Company be liable or accountable for any capital gains tax or income tax liability of any Permit Holder.


 




  





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Schedule 1 – Exploration Permits and Area of Interest




 








The Area of Interest within the Exploration Permits described below is set out using graticular block references in Annexure A to this Agreement.


 








	
Item

	
Exploration Permit

	  	
Item

	
Exploration Permit


	
1.

	
3432

	  	
21.

	
21064


	
2.

	
5394

	  	
22.

	
24864


	
3.

	
13064

	  	
23.

	
25605


	
4.

	
13811

	  	
24.

	
25606


	
5.

	
14619

	  	
25.

	
28340


	
6.

	
14620

	  	
26.

	
28346


	
7.

	
14622

	  	
27.

	
28347


	
8.

	
14623

	  	
28.

	
28348


	
9.

	
16747

	  	
29.

	
28349


	
10.

	
16753

	  	
30.

	
28352


	
11.

	
19003

	  	
31.

	
28353


	
12.

	
19851

	  	
32.

	
29020


	
13.

	
19932

	  	
33.

	
31734


	
14.

	
19934

	  	
34.

	
31735


	
15.

	
19935

	  	
35.

	
38323


	
16.

	
21059

	  	
36.

	
38324


	
17.

	
21060

	  	
37.

	
38325


	
18.

	
21061

	  	
38.

	
38392


	
19.

	
21062

	  	
39.

	
38469


	
20.

	
21063

	  	  	  












  





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Schedule 2– Industrial Minerals




 


 


Vanadium


 


Lithium


 


Aggregates


 


Alunite


 


Barite


 


Bentonite


 


Vermiculite


 


Carbonatites


 


Corundum


 


Dimension stone, other than labradorite


 


Feldspar, other than labradorite


 


Fluorspar


 


Granite


 


Graphite


 


Gypsum


 


Kaolin


 


Kyanite


 


Limestone / Dolomite


 


Marble


 


Mica


 


Olivine


 


Perlite


 


Phosphate


 


Potash – Potassium minerals


 


Pumice


 


Quartz


 


Staurolite


 


Zeolites


 




  





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Schedule
3- Map of
Area of Interest





 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




  





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Joint Venture Agreement















 



Schedule 4– Net Smelter Return Royalty




 


The royalty referred to in clause 23(a) of the Agreement is to be calculated and paid by the Payer to a Payee in accordance with this Schedule 4.


 



	
S4.1  

	
Definitions







 


In this Schedule, unless otherwise defined below or the context requires otherwise, expressions defined in the Agreement of which this Schedule forms part have the same meaning as in the Agreement and the following expressions will have the following meanings:


 


Carried Forward Deduction means the amount of Deductions that exceeds the Gross Revenue in a Quarter, which may then be carried forward and deducted from Gross Revenue in subsequent Quarters.


 


Deductions means all costs paid or incurred by the Payer, in US dollars or in US Dollar Equivalent, in relation to the sale of Product extracted and recovered from the Mining Area after mining and milling or other initial processing within or adjacent to the Mining Area, and include:


 



	
(a)  

	
all costs of smelting and refining and retorting the ore and minerals extracted from the Mining Area, including Penalties for impurities and all umpire charges and other processor deductions;







 



	
(b)  

	
all road, sea and rail freight, transportation, security and incidental costs and expenses, including forwarding, shipping, demurrage, delay and insurance costs, incurred between the outer boundary of, or adjacent to, the Mining Area and the point of delivery of the Products into a Refinery, including the cost of transport to and between any Refinery or other places of treatment;







 



	
(c)  

	
handling and incidental costs and expenses including agency, banking, assaying, sampling, weighing, loading, unloading, stockpiling and storage;







 



	
(d)  

	
actual sales, marketing, representation, agency and brokerage costs in respect of the Product subject to the Royalty;







 



	
(e)  

	
administrative and other general overhead costs that are directly attributable and reasonably allocable to the costs set out in paragraphs (a) to (d) above;







 



	
(f)  

	
Carried Forward Deductions;







 



	
(g)  

	
shipping agency fees;







 



	
(h)  

	
bank charges on sales receipts and payments;







 



	
(i)  

	
government charges on banking transactions;







 



	
(j)  

	
all taxes (excluding taxes based on income) which the Payer may be required to pay or incur as a result of the sale of the Product (but not including any value added or goods and services taxes (including TVA) if subject to an input for credit);







 




  





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Joint Venture Agreement













 



	
(k)  

	
all royalties, duties, levies and charges imposed by a Governmental Agency in respect of the Product, including carbon emission licence fees, charges, fuel excise (net of any fuel tax credits), carbon trading taxes and imposts, value added taxes or energy consumption taxes, in any way connected with the transportation or sale of the Products from the Mining Area; and







 



	
(l)  

	
any other incidental charge or expense incurred between the outer boundary of, or adjacent to, the Mining Area up to the point of delivery of the Products into a Refinery, including on-site transport and storage,







 


but does not include any exploration, development, construction, mining, crushing, treatment or concentrating costs incurred by the Payer within or adjacent to the Mining Area.


 


Exchange Rate means the average of the spot rate of exchange during the relevant period for the purchase of one currency against another currency as set by the usual bank for the Payer or another recognised and reputable banking institution chosen by the Payer, acting reasonably.


 


Gross Revenue in respect of an expired Quarter means the aggregate of:


 



	
(a)  

	
the total amounts actually received by the Payer from the sale of Product to the owner or operator of a Refinery, in US dollars, or in US Dollar Equivalent, (Sales) including the proceeds received from an insurer in the case of loss of, or damage to, the Products (net of any excess paid in respect of that loss),during the expired Quarter, less any refunds, claims or discount, where Sales are effected on an arms-length basis on normal commercial terms; and







 



	
(b)  

	
if Sales are effected on any other basis than on an arms-length basis on normal commercial terms, or if Product is disposed of otherwise than by sale (whether immediate or for future delivery) during the expired Quarter, the fair market value of the Product so sold or otherwise disposed of during the expired Quarter in US dollars, or in US Dollar Equivalent, as determined in accordance with paragraph S4.8.







 


Month means calendar month.


 


Net Smelter Return means Gross Revenue for the relevant Quarter minus Deductions for that Quarter.


 


Payee means the party entitled in accordance this Agreement to receive payment of the Royalty.


 


Payer means Madagascar Development JV Company.


 


Penalty means a charge made by a Refinery, in addition to normal refining costs, for removing from the Product minerals or other substances where the cost of the removal exceeds the value of those minerals or other substances.


 


Refinery means a smelter, refinery or other processing facility.


 


Product means the Payer’s share of any product derived from the processing of Industrial Minerals mined from the Mining Area.


 


Quarter means the period of three consecutive Months commencing 1 January, 1 April, 1 July or 1 October in any year, other than the first Quarter which commences on the date the Payee become entitled to the Royalty under clause 23(a) of the Agreement and expires on the date immediately preceding the next to occur of 1 January, 1 April, 1 July or 1 October, and Quarterly has the corresponding meaning.


 




  





 Page 61











  




 



Joint Venture Agreement













 


Royalty means 2% of the Net Smelter Return.


 


US Dollar Equivalent means, where sum to which this deed relates is not stated in US dollars, the amount determined by converting the amount in foreign currency into US dollars at the Exchange Rate existing when the relevant revenue was earned or receivable, or the relevant expenditure was incurred, by the Payer.


 



	
S4.2  

	
Calculation of Net Smelter Return







 


The Payer will calculate the Net Smelter Return Quarterly from the date on which Product is first produced from the Mining Area.


 



	
S4.3  

	
Reporting







 


Within 30 days of the end of each Quarter, the Payer will provide the Payee with a statement setting out in reasonable detail the calculation of the Royalty due to the Payee from the Payer for the previous Quarter and any adjustments occasioned by errors in any previous accounting.


 



	
S4.4  

	
Time for payment of Royalty







 


Within 30 days of the end of each Quarter, the Payer must pay to the Payee the Royalty plus or minus any adjustments in accordance with paragraph S4.3.


 



	
S4.5  

	
Audits and adjustments







 



	
(a)  

	
The Payer’s records that relate to the calculation of the Net Smelter Return and the Royalty for a Quarter shall be open to inspection and review by the Payee’s external auditors for a period of 6 Months after the end of such Quarter, at the Payee’s cost. If not reviewed in that 6 Month period the Royalty payment for that Quarter will be taken to be in full and final satisfaction of the Payer’s obligations in respect of that payment.







 



	
(b)  

	
If an audit carried out pursuant to paragraph S4.5(a) (Audit) discloses that the Payer has made an overpayment of the Royalty or has made an underpayment of the Royalty of 5% or less, then the Payee will be responsible for payment of the costs of the Audit and the Payer will (as the case may be):







 



	
(i)  

	
deduct the amount of any such overpayment from its next Royalty payment to the Payee; or







 



	
(ii)  

	
add the amount of any such underpayment to the next Royalty payment it makes to the Payee.







 



	
(c)  

	
If an Audit discloses an underpayment by the Payer of more than 5%, then the costs of the Audit shall be borne by the Payer and the amount of the underpayment will be paid by the Payer to the Payee within 14 days after delivery of the Audit report to the Payer.







 




  





 Page 62











  




 



Joint Venture Agreement













 



	
S4.6  

	
Assignment







 



	
(a)  

	
The Payer must not sell, assign or otherwise dispose of or encumber the whole or part of its interest in the Mining Area without first requiring the assignee or other such party to enter into a covenant with the Payee on terms to the satisfaction of the Payee (acting reasonably) binding it to observe and perform all the terms and conditions of these procedures as from the effective date of assignment or encumbrance.







 



	
(b)  

	
Subject to the Payer not exercising the Royalty Option in accordance with clause 23(b), the Payee may only assign, sell or otherwise dispose of the whole (but not a part) of its rights and interest in or under the Royalty (Relevant Interest) if it first offers to the Payer the opportunity to acquire the Relevant Interest for consideration equal to that offered by the proposed assignee. If the Payer does not accept the offer within 15 days, the Payee may proceed with the assignment, sale or disposal to the proposed assignee within 90 days and on terms no more favourable to the proposed assignee than those offered to the Payer. If the Payer accepts the offer then settlement of the assignment of the Relevant Interest to the Payer shall occur within 60 days thereafter.







 



	
S4.7  

	
Hedging and Disposal of Intermediate Product







 


 



	
(a)  

	
All profits and losses resulting from the Payer engaging in any commodity futures trading, option trading, metals trading, gold loans or any combination thereof, or other hedging or price protection arrangements or mechanisms are excluded from calculations of the Net Smelter Return.







 



	
(b)  

	
The Payer must not dispose of, or allow for commingling of, any ore from the Mining Area or any intermediate product unless it has ensured that it has access to all information necessary in order to calculate the Royalty.







 



	
S4.8  

	
Reference to expert







 



	
(a)  

	
If any dispute or difference arises between the Parties in connection with, the calculation of the Net Smelter Return or the Royalty, the Parties undertake with each other to use all reasonable endeavours, in good faith, to settle the dispute or difference by negotiation.







 



	
(b)  

	
If any dispute referred to in paragraph S4.8(a) has not been resolved within a reasonable time of not less than 14 days, either Party may refer the matter in issue to an Independent Expert for determination and clause 32 of the Agreement applies.







 




  





 Page 63











  




 



Joint Venture Agreement













 


Executed as an agreement


 



	
Executed by Energizer Resources Inc. by its duly authorised representative:

	  	  
	 	 	 
	
/s/ Kirk McKinnon

	  	
/s/ Richard Schler


	 	 	 
	
Signature of Kirk McKinnon


Chairman and CEO

	  	
Signature of Richard Schler


Vice President and CFO





 


	
Executed by Malagasy Minerals Limited


ACN 121 700 105 in accordance with section


127 of the Corporations Act 2001 (Cth) by or in


the presence of:

	  	  
	 	 	 
	
/s/ Peter Woods

	  	
/s/ Max Cozijn


	 	 	 
	
Signature of Director

	  	
Signature of Director or Secretary


	 	 	 
	 	 	 
	
Name of Director in full

	  	
Name of Director or Secretary in full







 



	
Executed by Madagascar-ERG Joint


Venture (Mauritius) Ltd by its duly authorised


representative:


 


/s/ Kirk McKinnon

	  	
/s/ Richard Schler


	  	  	  
	
Signature of Kirk McKinnon


Chairman

	  	
Signature of Richard Schler


Director







 




  





 Page 64











  




		 	 



    



















	
    












Annexure
A- Area of
Interest


 


	Rech result ID	Carte	Numero	P01 Type2	np	Set1 ID	Permit Number	CM_X	CM_Y
	139	G61	21062	R	MADA-AUST	17378	21062	225312.5	162812.5
	139	G61	21062	R	MADA-AUST	17393	21062	225312.5	163437.5
	139	G61	21062	R	MADA-AUST	17394	21062	225312.5	164062.5
	139	G61	21062	R	MADA-AUST	17395	21062	225312.5	164687.5
	139	G61	21062	R	MADA-AUST	17398	21062	225312.5	165312.5
	139	G61	21062	R	MADA-AUST	17382	21062	225312.5	165937.5
	139	G61	21062	R	MADA-AUST	17377	21062	225312.5	166562.5
	139	G61	21062	R	MADA-AUST	17407	21062	225937.5	162812.5
	139	G61	21062	R	MADA-AUST	17397	21062	225937.5	163437.5
	139	G61	21062	R	MADA-AUST	17392	21062	225937.5	164062.5
	139	G61	21062	R	MADA-AUST	17399	21062	225937.5	164687.5
	139	G61	21062	R	MADA-AUST	17379	21062	225937.5	165312.5
	139	G61	21062	R	MADA-AUST	17396	21062	225937.5	165937.5
	139	G61	21062	R	MADA-AUST	17380	21062	225937.5	166562.5
	139	G61	21062	R	MADA-AUST	17400	21062	226562.5	162812.5
	139	G61	21062	R	MADA-AUST	17406	21062	226562.5	163437.5
	139	G61	21062	R	MADA-AUST	17401	21062	226562.5	164062.5
	139	G61	21062	R	MADA-AUST	17402	21062	226562.5	164687.5
	139	G61	21062	R	MADA-AUST	17391	21062	226562.5	165312.5
	139	G61	21062	R	MADA-AUST	17383	21062	226562.5	165937.5
	139	G61	21062	R	MADA-AUST	17376	21062	226562.5	166562.5
	139	G61	21062	R	MADA-AUST	17403	21062	227187.5	162812.5
	139	G61	21062	R	MADA-AUST	17405	21062	227187.5	163437.5
	139	G61	21062	R	MADA-AUST	17404	21062	227187.5	164062.5
	139	G61	21062	R	MADA-AUST	17390	21062	227187.5	164687.5
	139	G61	21062	R	MADA-AUST	17386	21062	227187.5	165312.5
	139	G61	21062	R	MADA-AUST	17387	21062	227187.5	165937.5
	139	G61	21062	R	MADA-AUST	17388	21062	227187.5	166562.5
	460	G61	38323	R	MADA-AUST	28568	38323	227812.5	162812.5
	460	G61	38323	R	MADA-AUST	28558	38323	227812.5	163437.5
	460	G61	38323	R	MADA-AUST	28559	38323	227812.5	164062.5
	460	G61	38323	R	MADA-AUST	28560	38323	227812.5	164687.5
	461	G61	38324	R	MADA-AUST	28577	38324	227812.5	165312.5
	461	G61	38324	R	MADA-AUST	28572	38324	227812.5	165937.5
	461	G61	38324	R	MADA-AUST	28573	38324	227812.5	166562.5
	124	G61	19003	R	MADA-AUST	14233	19003	227812.5	170312.5
	124	G61	19003	R	MADA-AUST	14238	19003	227812.5	170937.5
	124	G61	19003	R	MADA-AUST	14237	19003	227812.5	171562.5
	124	G61	19003	R	MADA-AUST	14236	19003	227812.5	172187.5
	460	G61	38323	R	MADA-AUST	28570	38323	228437.5	162812.5
	460	G61	38323	R	MADA-AUST	28562	38323	228437.5	163437.5
	460	G61	38323	R	MADA-AUST	28563	38323	228437.5	164062.5
	460	G61	38323	R	MADA-AUST	28569	38323	228437.5	164687.5
	461	G61	38324	R	MADA-AUST	28575	38324	228437.5	165312.5
	461	G61	38324	R	MADA-AUST	28576	38324	228437.5	165937.5
	461	G61	38324	R	MADA-AUST	28578	38324	228437.5	166562.5
	124	G61	19003	R	MADA-AUST	14225	19003	228437.5	170312.5
	124	G61	19003	R	MADA-AUST	14234	19003	228437.5	170937.5
	124	G61	19003	R	MADA-AUST	14235	19003	228437.5	171562.5







    	 	 	 



    	 	 	 



    




	124	G61	19003	R	MADA-AUST	14232	19003	228437.5	172187.5
	460	G61	38323	R	MADA-AUST	28555	38323	229062.5	162812.5
	460	G61	38323	R	MADA-AUST	28557	38323	229062.5	163437.5
	460	G61	38323	R	MADA-AUST	28564	38323	229062.5	164062.5
	460	G61	38323	R	MADA-AUST	28565	38323	229062.5	164687.5
	461	G61	38324	R	MADA-AUST	28580	38324	229062.5	165312.5
	461	G61	38324	R	MADA-AUST	28583	38324	229062.5	165937.5
	461	G61	38324	R	MADA-AUST	28581	38324	229062.5	166562.5
	124	G61	19003	R	MADA-AUST	14239	19003	229062.5	170312.5
	124	G61	19003	R	MADA-AUST	14224	19003	229062.5	170937.5
	124	G61	19003	R	MADA-AUST	14231	19003	229062.5	171562.5
	124	G61	19003	R	MADA-AUST	14230	19003	229062.5	172187.5
	460	G61	38323	R	MADA-AUST	28566	38323	229687.5	162812.5
	460	G61	38323	R	MADA-AUST	28567	38323	229687.5	163437.5
	460	G61	38323	R	MADA-AUST	28556	38323	229687.5	164062.5
	460	G61	38323	R	MADA-AUST	28561	38323	229687.5	164687.5
	461	G61	38324	R	MADA-AUST	28582	38324	229687.5	165312.5
	461	G61	38324	R	MADA-AUST	28571	38324	229687.5	165937.5
	461	G61	38324	R	MADA-AUST	28584	38324	229687.5	166562.5
	124	G61	19003	R	MADA-AUST	14229	19003	229687.5	170312.5
	124	G61	19003	R	MADA-AUST	14228	19003	229687.5	170937.5
	124	G61	19003	R	MADA-AUST	14227	19003	229687.5	171562.5
	124	G61	19003	R	MADA-AUST	14226	19003	229687.5	172187.5
	136	G61	21059	R	MADA-AUST	17341	21059	230312.5	157812.5
	136	G61	21059	R	MADA-AUST	17340	21059	230312.5	158437.5
	136	G61	21059	R	MADA-AUST	17339	21059	230312.5	159062.5
	136	G61	21059	R	MADA-AUST	17338	21059	230312.5	159687.5
	112	G61	16753	R	MADA-AUST	13508	16753	230312.5	160312.5
	112	G61	16753	R	MADA-AUST	13497	16753	230312.5	160937.5
	112	G61	16753	R	MADA-AUST	13498	16753	230312.5	161562.5
	112	G61	16753	R	MADA-AUST	13499	16753	230312.5	162187.5
	112	G61	16753	R	MADA-AUST	13512	16753	230312.5	162812.5
	112	G61	16753	R	MADA-AUST	13480	16753	230312.5	163437.5
	112	G61	16753	R	MADA-AUST	13481	16753	230312.5	164062.5
	112	G61	16753	R	MADA-AUST	13495	16753	230312.5	164687.5
	112	G61	16753	R	MADA-AUST	13513	16753	230312.5	165312.5
	112	G61	16753	R	MADA-AUST	13514	16753	230312.5	165937.5
	112	G61	16753	R	MADA-AUST	13515	16753	230312.5	166562.5
	138	G61	21061	R	MADA-AUST	17373	21061	230312.5	175312.5
	138	G61	21061	R	MADA-AUST	17372	21061	230312.5	175937.5
	138	G61	21061	R	MADA-AUST	17375	21061	230312.5	176562.5
	138	G61	21061	R	MADA-AUST	17371	21061	230312.5	177187.5
	99	G61	14619	R	MADA-AUST	11975	14619	230312.5	180312.5
	99	G61	14619	R	MADA-AUST	11981	14619	230312.5	180937.5
	99	G61	14619	R	MADA-AUST	11980	14619	230312.5	181562.5
	99	G61	14619	R	MADA-AUST	11979	14619	230312.5	182187.5
	136	G61	21059	R	MADA-AUST	17337	21059	230937.5	157812.5
	136	G61	21059	R	MADA-AUST	17336	21059	230937.5	158437.5
	136	G61	21059	R	MADA-AUST	17342	21059	230937.5	159062.5
	136	G61	21059	R	MADA-AUST	17335	21059	230937.5	159687.5
	112	G61	16753	R	MADA-AUST	13500	16753	230937.5	160312.5
	112	G61	16753	R	MADA-AUST	13501	16753	230937.5	160937.5
	112	G61	16753	R	MADA-AUST	13502	16753	230937.5	161562.5
	112	G61	16753	R	MADA-AUST	13503	16753	230937.5	162187.5




    	 	 	 



    	 	 	 



    




	112	G61	16753	R	MADA-AUST	13483	16753	230937.5	162812.5
	112	G61	16753	R	MADA-AUST	13472	16753	230937.5	163437.5
	112	G61	16753	R	MADA-AUST	13485	16753	230937.5	164062.5
	112	G61	16753	R	MADA-AUST	13486	16753	230937.5	164687.5
	112	G61	16753	R	MADA-AUST	13517	16753	230937.5	165312.5
	112	G61	16753	R	MADA-AUST	13518	16753	230937.5	165937.5
	112	G61	16753	R	MADA-AUST	13484	16753	230937.5	166562.5
	138	G61	21061	R	MADA-AUST	17368	21061	230937.5	175312.5
	138	G61	21061	R	MADA-AUST	17370	21061	230937.5	175937.5
	138	G61	21061	R	MADA-AUST	17369	21061	230937.5	176562.5
	138	G61	21061	R	MADA-AUST	17360	21061	230937.5	177187.5
	99	G61	14619	R	MADA-AUST	11978	14619	230937.5	180312.5
	99	G61	14619	R	MADA-AUST	11977	14619	230937.5	180937.5
	99	G61	14619	R	MADA-AUST	11976	14619	230937.5	181562.5
	99	G61	14619	R	MADA-AUST	11973	14619	230937.5	182187.5
	136	G61	21059	R	MADA-AUST	17334	21059	231562.5	157812.5
	136	G61	21059	R	MADA-AUST	17333	21059	231562.5	158437.5
	136	G61	21059	R	MADA-AUST	17332	21059	231562.5	159062.5
	136	G61	21059	R	MADA-AUST	17331	21059	231562.5	159687.5
	112	G61	16753	R	MADA-AUST	13504	16753	231562.5	160312.5
	112	G61	16753	R	MADA-AUST	13505	16753	231562.5	160937.5
	112	G61	16753	R	MADA-AUST	13519	16753	231562.5	161562.5
	112	G61	16753	R	MADA-AUST	13507	16753	231562.5	162187.5
	112	G61	16753	R	MADA-AUST	13487	16753	231562.5	162812.5
	112	G61	16753	R	MADA-AUST	13488	16753	231562.5	163437.5
	112	G61	16753	R	MADA-AUST	13489	16753	231562.5	164062.5
	112	G61	16753	R	MADA-AUST	13490	16753	231562.5	164687.5
	112	G61	16753	R	MADA-AUST	13506	16753	231562.5	165312.5
	112	G61	16753	R	MADA-AUST	13473	16753	231562.5	165937.5
	112	G61	16753	R	MADA-AUST	13474	16753	231562.5	166562.5
	138	G61	21061	R	MADA-AUST	17367	21061	231562.5	175312.5
	138	G61	21061	R	MADA-AUST	17374	21061	231562.5	175937.5
	138	G61	21061	R	MADA-AUST	17365	21061	231562.5	176562.5
	138	G61	21061	R	MADA-AUST	17364	21061	231562.5	177187.5
	99	G61	14619	R	MADA-AUST	11983	14619	231562.5	180312.5
	99	G61	14619	R	MADA-AUST	11982	14619	231562.5	180937.5
	99	G61	14619	R	MADA-AUST	11968	14619	231562.5	181562.5
	99	G61	14619	R	MADA-AUST	11969	14619	231562.5	182187.5
	136	G61	21059	R	MADA-AUST	17330	21059	232187.5	157812.5
	136	G61	21059	R	MADA-AUST	17328	21059	232187.5	158437.5
	136	G61	21059	R	MADA-AUST	17329	21059	232187.5	159062.5
	136	G61	21059	R	MADA-AUST	17343	21059	232187.5	159687.5
	112	G61	16753	R	MADA-AUST	13496	16753	232187.5	160312.5
	112	G61	16753	R	MADA-AUST	13509	16753	232187.5	160937.5
	112	G61	16753	R	MADA-AUST	13510	16753	232187.5	161562.5
	112	G61	16753	R	MADA-AUST	13511	16753	232187.5	162187.5
	112	G61	16753	R	MADA-AUST	13491	16753	232187.5	162812.5
	112	G61	16753	R	MADA-AUST	13492	16753	232187.5	163437.5
	112	G61	16753	R	MADA-AUST	13493	16753	232187.5	164062.5
	112	G61	16753	R	MADA-AUST	13494	16753	232187.5	164687.5
	112	G61	16753	R	MADA-AUST	13476	16753	232187.5	165312.5
	112	G61	16753	R	MADA-AUST	13477	16753	232187.5	165937.5
	112	G61	16753	R	MADA-AUST	13478	16753	232187.5	166562.5
	138	G61	21061	R	MADA-AUST	17363	21061	232187.5	175312.5




    	 	 	 



    	 	 	 



    




	138	G61	21061	R	MADA-AUST	17362	21061	232187.5	175937.5
	138	G61	21061	R	MADA-AUST	17361	21061	232187.5	176562.5
	138	G61	21061	R	MADA-AUST	17366	21061	232187.5	177187.5
	99	G61	14619	R	MADA-AUST	11970	14619	232187.5	180312.5
	99	G61	14619	R	MADA-AUST	11971	14619	232187.5	180937.5
	99	G61	14619	R	MADA-AUST	11974	14619	232187.5	181562.5
	99	G61	14619	R	MADA-AUST	11972	14619	232187.5	182187.5
	141	G61	21064	R	MADA-AUST	17451	21064	232812.5	160312.5
	141	G61	21064	R	MADA-AUST	17449	21064	232812.5	160937.5
	141	G61	21064	R	MADA-AUST	17442	21064	232812.5	161562.5
	109	G61	16747	R	MADA-AUST	13397	16747	232812.5	165312.5
	109	G61	16747	R	MADA-AUST	13396	16747	232812.5	165937.5
	109	G61	16747	R	MADA-AUST	13395	16747	232812.5	166562.5
	109	G61	16747	R	MADA-AUST	13393	16747	232812.5	167187.5
	109	G61	16747	R	MADA-AUST	13382	16747	232812.5	167812.5
	109	G61	16747	R	MADA-AUST	13381	16747	232812.5	168437.5
	109	G61	16747	R	MADA-AUST	13380	16747	232812.5	169062.5
	109	G61	16747	R	MADA-AUST	13379	16747	232812.5	169687.5
	109	G61	16747	R	MADA-AUST	13420	16747	232812.5	170312.5
	109	G61	16747	R	MADA-AUST	13421	16747	232812.5	170937.5
	109	G61	16747	R	MADA-AUST	13422	16747	232812.5	171562.5
	109	G61	16747	R	MADA-AUST	13414	16747	232812.5	172187.5
	478	G61	38469	R	MADA-AUST	29160	38469	232812.5	175312.5
	478	G61	38469	R	MADA-AUST	29180	38469	232812.5	175937.5
	478	G61	38469	R	MADA-AUST	29175	38469	232812.5	176562.5
	478	G61	38469	R	MADA-AUST	29174	38469	232812.5	177187.5
	478	G61	38469	R	MADA-AUST	29176	38469	232812.5	177812.5
	478	G61	38469	R	MADA-AUST	29155	38469	232812.5	178437.5
	478	G61	38469	R	MADA-AUST	29156	38469	232812.5	179062.5
	478	G61	38469	R	MADA-AUST	29157	38469	232812.5	179687.5
	478	G61	38469	R	MADA-AUST	29150	38469	232812.5	180312.5
	478	G61	38469	R	MADA-AUST	29151	38469	232812.5	180937.5
	478	G61	38469	R	MADA-AUST	29146	38469	232812.5	181562.5
	478	G61	38469	R	MADA-AUST	29177	38469	232812.5	182187.5
	474	G61	38392	R	MADA-AUST	28958	38392	232812.5	182812.5
	474	G61	38392	R	MADA-AUST	28968	38392	232812.5	183437.5
	474	G61	38392	R	MADA-AUST	28969	38392	232812.5	184062.5
	474	G61	38392	R	MADA-AUST	28960	38392	232812.5	184687.5
	141	G61	21064	R	MADA-AUST	17444	21064	233437.5	160312.5
	141	G61	21064	R	MADA-AUST	17446	21064	233437.5	160937.5
	141	G61	21064	R	MADA-AUST	17447	21064	233437.5	161562.5
	141	G61	21064	R	MADA-AUST	17448	21064	233437.5	162187.5
	109	G61	16747	R	MADA-AUST	13391	16747	233437.5	165312.5
	109	G61	16747	R	MADA-AUST	13390	16747	233437.5	165937.5
	109	G61	16747	R	MADA-AUST	13389	16747	233437.5	166562.5
	109	G61	16747	R	MADA-AUST	13388	16747	233437.5	167187.5
	109	G61	16747	R	MADA-AUST	13378	16747	233437.5	167812.5
	109	G61	16747	R	MADA-AUST	13377	16747	233437.5	168437.5
	109	G61	16747	R	MADA-AUST	13403	16747	233437.5	169062.5
	109	G61	16747	R	MADA-AUST	13405	16747	233437.5	169687.5
	109	G61	16747	R	MADA-AUST	13411	16747	233437.5	170312.5
	109	G61	16747	R	MADA-AUST	13410	16747	233437.5	170937.5
	109	G61	16747	R	MADA-AUST	13409	16747	233437.5	171562.5
	109	G61	16747	R	MADA-AUST	13408	16747	233437.5	172187.5




    	 	 	 



    	 	 	 



    




	478	G61	38469	R	MADA-AUST	29173	38469	233437.5	175312.5
	478	G61	38469	R	MADA-AUST	29172	38469	233437.5	175937.5
	478	G61	38469	R	MADA-AUST	29171	38469	233437.5	176562.5
	478	G61	38469	R	MADA-AUST	29170	38469	233437.5	177187.5
	478	G61	38469	R	MADA-AUST	29158	38469	233437.5	177812.5
	478	G61	38469	R	MADA-AUST	29159	38469	233437.5	178437.5
	478	G61	38469	R	MADA-AUST	29133	38469	233437.5	179062.5
	478	G61	38469	R	MADA-AUST	29152	38469	233437.5	179687.5
	478	G61	38469	R	MADA-AUST	29144	38469	233437.5	180312.5
	478	G61	38469	R	MADA-AUST	29178	38469	233437.5	180937.5
	478	G61	38469	R	MADA-AUST	29143	38469	233437.5	181562.5
	478	G61	38469	R	MADA-AUST	29153	38469	233437.5	182187.5
	474	G61	38392	R	MADA-AUST	28956	38392	233437.5	182812.5
	474	G61	38392	R	MADA-AUST	28957	38392	233437.5	183437.5
	474	G61	38392	R	MADA-AUST	28966	38392	233437.5	184062.5
	474	G61	38392	R	MADA-AUST	28970	38392	233437.5	184687.5
	141	G61	21064	R	MADA-AUST	17455	21064	234062.5	160312.5
	141	G61	21064	R	MADA-AUST	17445	21064	234062.5	160937.5
	141	G61	21064	R	MADA-AUST	17440	21064	234062.5	161562.5
	141	G61	21064	R	MADA-AUST	17441	21064	234062.5	162187.5
	109	G61	16747	R	MADA-AUST	13376	16747	234062.5	165312.5
	109	G61	16747	R	MADA-AUST	13387	16747	234062.5	165937.5
	109	G61	16747	R	MADA-AUST	13398	16747	234062.5	166562.5
	109	G61	16747	R	MADA-AUST	13386	16747	234062.5	167187.5
	109	G61	16747	R	MADA-AUST	13394	16747	234062.5	167812.5
	109	G61	16747	R	MADA-AUST	13423	16747	234062.5	168437.5
	109	G61	16747	R	MADA-AUST	13415	16747	234062.5	169062.5
	109	G61	16747	R	MADA-AUST	13412	16747	234062.5	169687.5
	109	G61	16747	R	MADA-AUST	13407	16747	234062.5	170312.5
	109	G61	16747	R	MADA-AUST	13406	16747	234062.5	170937.5
	109	G61	16747	R	MADA-AUST	13399	16747	234062.5	171562.5
	109	G61	16747	R	MADA-AUST	13404	16747	234062.5	172187.5
	478	G61	38469	R	MADA-AUST	29169	38469	234062.5	175312.5
	478	G61	38469	R	MADA-AUST	29168	38469	234062.5	175937.5
	478	G61	38469	R	MADA-AUST	29167	38469	234062.5	176562.5
	478	G61	38469	R	MADA-AUST	29161	38469	234062.5	177187.5
	478	G61	38469	R	MADA-AUST	29164	38469	234062.5	177812.5
	478	G61	38469	R	MADA-AUST	29179	38469	234062.5	178437.5
	478	G61	38469	R	MADA-AUST	29154	38469	234062.5	179062.5
	478	G61	38469	R	MADA-AUST	29141	38469	234062.5	179687.5
	478	G61	38469	R	MADA-AUST	29140	38469	234062.5	180312.5
	478	G61	38469	R	MADA-AUST	29139	38469	234062.5	180937.5
	478	G61	38469	R	MADA-AUST	29138	38469	234062.5	181562.5
	478	G61	38469	R	MADA-AUST	29137	38469	234062.5	182187.5
	474	G61	38392	R	MADA-AUST	28967	38392	234062.5	182812.5
	474	G61	38392	R	MADA-AUST	28955	38392	234062.5	183437.5
	474	G61	38392	R	MADA-AUST	28961	38392	234062.5	184062.5
	474	G61	38392	R	MADA-AUST	28962	38392	234062.5	184687.5
	141	G61	21064	R	MADA-AUST	17450	21064	234687.5	160312.5
	141	G61	21064	R	MADA-AUST	17454	21064	234687.5	160937.5
	141	G61	21064	R	MADA-AUST	17453	21064	234687.5	161562.5
	141	G61	21064	R	MADA-AUST	17452	21064	234687.5	162187.5
	109	G61	16747	R	MADA-AUST	13384	16747	234687.5	165312.5
	109	G61	16747	R	MADA-AUST	13392	16747	234687.5	165937.5




    	 	 	 



    	 	 	 



    




	109	G61	16747	R	MADA-AUST	13385	16747	234687.5	166562.5
	109	G61	16747	R	MADA-AUST	13383	16747	234687.5	167187.5
	109	G61	16747	R	MADA-AUST	13416	16747	234687.5	167812.5
	109	G61	16747	R	MADA-AUST	13417	16747	234687.5	168437.5
	109	G61	16747	R	MADA-AUST	13418	16747	234687.5	169062.5
	109	G61	16747	R	MADA-AUST	13419	16747	234687.5	169687.5
	109	G61	16747	R	MADA-AUST	13413	16747	234687.5	170312.5
	109	G61	16747	R	MADA-AUST	13402	16747	234687.5	170937.5
	109	G61	16747	R	MADA-AUST	13401	16747	234687.5	171562.5
	109	G61	16747	R	MADA-AUST	13400	16747	234687.5	172187.5
	478	G61	38469	R	MADA-AUST	29165	38469	234687.5	175312.5
	478	G61	38469	R	MADA-AUST	29166	38469	234687.5	175937.5
	478	G61	38469	R	MADA-AUST	29163	38469	234687.5	176562.5
	478	G61	38469	R	MADA-AUST	29162	38469	234687.5	177187.5
	478	G61	38469	R	MADA-AUST	29142	38469	234687.5	177812.5
	478	G61	38469	R	MADA-AUST	29147	38469	234687.5	178437.5
	478	G61	38469	R	MADA-AUST	29148	38469	234687.5	179062.5
	478	G61	38469	R	MADA-AUST	29149	38469	234687.5	179687.5
	478	G61	38469	R	MADA-AUST	29136	38469	234687.5	180312.5
	478	G61	38469	R	MADA-AUST	29135	38469	234687.5	180937.5
	478	G61	38469	R	MADA-AUST	29134	38469	234687.5	181562.5
	478	G61	38469	R	MADA-AUST	29145	38469	234687.5	182187.5
	474	G61	38392	R	MADA-AUST	28963	38392	234687.5	182812.5
	474	G61	38392	R	MADA-AUST	28964	38392	234687.5	183437.5
	474	G61	38392	R	MADA-AUST	28965	38392	234687.5	184062.5
	474	G61	38392	R	MADA-AUST	28959	38392	234687.5	184687.5
	140	G61	21063	R	MADA-AUST	17436	21063	235312.5	165312.5
	140	G61	21063	R	MADA-AUST	17431	21063	235312.5	165937.5
	140	G61	21063	R	MADA-AUST	17430	21063	235312.5	166562.5
	140	G61	21063	R	MADA-AUST	17429	21063	235312.5	167187.5
	315	G61	28346	R	MAZOTO MINERALS	19431	28346	235312.5	167812.5
	315	G61	28346	R	MAZOTO MINERALS	19425	28346	235312.5	168437.5
	315	G61	28346	R	MAZOTO MINERALS	19430	28346	235312.5	169062.5
	177	G61	25605	R	MADA-AUST	21118	25605	235312.5	180312.5
	177	G61	25605	R	MADA-AUST	21104	25605	235312.5	180937.5
	177	G61	25605	R	MADA-AUST	21109	25605	235312.5	181562.5
	177	G61	25605	R	MADA-AUST	21111	25605	235312.5	182187.5
	137	G61	21060	R	MADA-AUST	17355	21060	235312.5	187812.5
	137	G61	21060	R	MADA-AUST	17344	21060	235312.5	188437.5
	137	G61	21060	R	MADA-AUST	17354	21060	235312.5	189062.5
	137	G61	21060	R	MADA-AUST	17358	21060	235312.5	189687.5
	140	G61	21063	R	MADA-AUST	17428	21063	235937.5	165312.5
	140	G61	21063	R	MADA-AUST	17427	21063	235937.5	165937.5
	140	G61	21063	R	MADA-AUST	17426	21063	235937.5	166562.5
	140	G61	21063	R	MADA-AUST	17417	21063	235937.5	167187.5
	315	G61	28346	R	MAZOTO MINERALS	19428	28346	235937.5	167812.5
	315	G61	28346	R	MAZOTO MINERALS	19427	28346	235937.5	168437.5
	315	G61	28346	R	MAZOTO MINERALS	19426	28346	235937.5	169062.5
	177	G61	25605	R	MADA-AUST	21107	25605	235937.5	180312.5
	177	G61	25605	R	MADA-AUST	21106	25605	235937.5	180937.5
	177	G61	25605	R	MADA-AUST	21105	25605	235937.5	181562.5
	177	G61	25605	R	MADA-AUST	21108	25605	235937.5	182187.5
	137	G61	21060	R	MADA-AUST	17353	21060	235937.5	187812.5
	137	G61	21060	R	MADA-AUST	17352	21060	235937.5	188437.5




    	 	 	 



    	 	 	 



    




	137	G61	21060	R	MADA-AUST	17351	21060	235937.5	189062.5
	140	G61	21063	R	MADA-AUST	17424	21063	236562.5	165312.5
	140	G61	21063	R	MADA-AUST	17432	21063	236562.5	165937.5
	140	G61	21063	R	MADA-AUST	17422	21063	236562.5	166562.5
	140	G61	21063	R	MADA-AUST	17421	21063	236562.5	167187.5
	315	G61	28346	R	MAZOTO MINERALS	19424	28346	236562.5	167812.5
	315	G61	28346	R	MAZOTO MINERALS	19423	28346	236562.5	168437.5
	315	G61	28346	R	MAZOTO MINERALS	19422	28346	236562.5	169062.5
	177	G61	25605	R	MADA-AUST	21112	25605	236562.5	180312.5
	177	G61	25605	R	MADA-AUST	21113	25605	236562.5	180937.5
	177	G61	25605	R	MADA-AUST	21119	25605	236562.5	181562.5
	177	G61	25605	R	MADA-AUST	21114	25605	236562.5	182187.5
	137	G61	21060	R	MADA-AUST	17349	21060	236562.5	187812.5
	137	G61	21060	R	MADA-AUST	17359	21060	236562.5	188437.5
	137	G61	21060	R	MADA-AUST	17348	21060	236562.5	189062.5
	140	G61	21063	R	MADA-AUST	17420	21063	237187.5	165312.5
	140	G61	21063	R	MADA-AUST	17418	21063	237187.5	165937.5
	140	G61	21063	R	MADA-AUST	17425	21063	237187.5	166562.5
	140	G61	21063	R	MADA-AUST	17433	21063	237187.5	167187.5
	315	G61	28346	R	MAZOTO MINERALS	19420	28346	237187.5	167812.5
	315	G61	28346	R	MAZOTO MINERALS	19419	28346	237187.5	168437.5
	315	G61	28346	R	MAZOTO MINERALS	19417	28346	237187.5	169062.5
	177	G61	25605	R	MADA-AUST	21110	25605	237187.5	180312.5
	177	G61	25605	R	MADA-AUST	21115	25605	237187.5	180937.5
	177	G61	25605	R	MADA-AUST	21116	25605	237187.5	181562.5
	177	G61	25605	R	MADA-AUST	21117	25605	237187.5	182187.5
	137	G61	21060	R	MADA-AUST	17347	21060	237187.5	187812.5
	137	G61	21060	R	MADA-AUST	17346	21060	237187.5	188437.5
	137	G61	21060	R	MADA-AUST	17345	21060	237187.5	189062.5
	140	G61	21063	R	MADA-AUST	17439	21063	237812.5	165312.5
	140	G61	21063	R	MADA-AUST	17434	21063	237812.5	165937.5
	140	G61	21063	R	MADA-AUST	17435	21063	237812.5	166562.5
	140	G61	21063	R	MADA-AUST	17415	21063	237812.5	167187.5
	177	G61	25605	R	MADA-AUST	21143	25605	237812.5	175312.5
	177	G61	25605	R	MADA-AUST	21142	25605	237812.5	175937.5
	177	G61	25605	R	MADA-AUST	21144	25605	237812.5	176562.5
	177	G61	25605	R	MADA-AUST	21145	25605	237812.5	177187.5
	177	G61	25605	R	MADA-AUST	21156	25605	237812.5	177812.5
	177	G61	25605	R	MADA-AUST	21157	25605	237812.5	178437.5
	177	G61	25605	R	MADA-AUST	21158	25605	237812.5	179062.5
	177	G61	25605	R	MADA-AUST	21159	25605	237812.5	179687.5
	177	G61	25605	R	MADA-AUST	21130	25605	237812.5	180312.5
	177	G61	25605	R	MADA-AUST	21131	25605	237812.5	180937.5
	177	G61	25605	R	MADA-AUST	21132	25605	237812.5	181562.5
	177	G61	25605	R	MADA-AUST	21133	25605	237812.5	182187.5
	177	G61	25605	R	MADA-AUST	21181	25605	237812.5	182812.5
	177	G61	25605	R	MADA-AUST	21182	25605	237812.5	183437.5
	177	G61	25605	R	MADA-AUST	21183	25605	237812.5	184062.5
	177	G61	25605	R	MADA-AUST	21177	25605	237812.5	184687.5
	93	G61	13811	R	MADA-AUST	11641	13811	237812.5	190312.5
	93	G61	13811	R	MADA-AUST	11640	13811	237812.5	190937.5
	93	G61	13811	R	MADA-AUST	11639	13811	237812.5	191562.5
	93	G61	13811	R	MADA-AUST	11638	13811	237812.5	192187.5
	140	G61	21063	R	MADA-AUST	17437	21063	238437.5	165312.5




    	 	 	 



    	 	 	 



    




	140	G61	21063	R	MADA-AUST	17419	21063	238437.5	165937.5
	140	G61	21063	R	MADA-AUST	17438	21063	238437.5	166562.5
	140	G61	21063	R	MADA-AUST	17423	21063	238437.5	167187.5
	177	G61	25605	R	MADA-AUST	21146	25605	238437.5	175312.5
	177	G61	25605	R	MADA-AUST	21147	25605	238437.5	175937.5
	177	G61	25605	R	MADA-AUST	21160	25605	238437.5	176562.5
	177	G61	25605	R	MADA-AUST	21149	25605	238437.5	177187.5
	177	G61	25605	R	MADA-AUST	21150	25605	238437.5	177812.5
	177	G61	25605	R	MADA-AUST	21134	25605	238437.5	178437.5
	177	G61	25605	R	MADA-AUST	21125	25605	238437.5	179062.5
	177	G61	25605	R	MADA-AUST	21126	25605	238437.5	179687.5
	177	G61	25605	R	MADA-AUST	21138	25605	238437.5	180312.5
	177	G61	25605	R	MADA-AUST	21135	25605	238437.5	180937.5
	177	G61	25605	R	MADA-AUST	21137	25605	238437.5	181562.5
	177	G61	25605	R	MADA-AUST	21141	25605	238437.5	182187.5
	177	G61	25605	R	MADA-AUST	21171	25605	238437.5	182812.5
	177	G61	25605	R	MADA-AUST	21170	25605	238437.5	183437.5
	177	G61	25605	R	MADA-AUST	21161	25605	238437.5	184062.5
	177	G61	25605	R	MADA-AUST	21169	25605	238437.5	184687.5
	93	G61	13811	R	MADA-AUST	11637	13811	238437.5	190312.5
	93	G61	13811	R	MADA-AUST	11636	13811	238437.5	190937.5
	93	G61	13811	R	MADA-AUST	11635	13811	238437.5	191562.5
	93	G61	13811	R	MADA-AUST	11634	13811	238437.5	192187.5
	140	G61	21063	R	MADA-AUST	17414	21063	239062.5	165312.5
	140	G61	21063	R	MADA-AUST	17409	21063	239062.5	165937.5
	140	G61	21063	R	MADA-AUST	17410	21063	239062.5	166562.5
	140	G61	21063	R	MADA-AUST	17411	21063	239062.5	167187.5
	177	G61	25605	R	MADA-AUST	21136	25605	239062.5	175312.5
	177	G61	25605	R	MADA-AUST	21139	25605	239062.5	175937.5
	177	G61	25605	R	MADA-AUST	21148	25605	239062.5	176562.5
	177	G61	25605	R	MADA-AUST	21151	25605	239062.5	177187.5
	177	G61	25605	R	MADA-AUST	21124	25605	239062.5	177812.5
	177	G61	25605	R	MADA-AUST	21123	25605	239062.5	178437.5
	177	G61	25605	R	MADA-AUST	21122	25605	239062.5	179062.5
	177	G61	25605	R	MADA-AUST	21121	25605	239062.5	179687.5
	177	G61	25605	R	MADA-AUST	21163	25605	239062.5	180312.5
	177	G61	25605	R	MADA-AUST	21173	25605	239062.5	180937.5
	177	G61	25605	R	MADA-AUST	21174	25605	239062.5	181562.5
	177	G61	25605	R	MADA-AUST	21176	25605	239062.5	182187.5
	177	G61	25605	R	MADA-AUST	21175	25605	239062.5	182812.5
	177	G61	25605	R	MADA-AUST	21162	25605	239062.5	183437.5
	177	G61	25605	R	MADA-AUST	21168	25605	239062.5	184062.5
	177	G61	25605	R	MADA-AUST	21140	25605	239062.5	184687.5
	93	G61	13811	R	MADA-AUST	11633	13811	239062.5	190312.5
	93	G61	13811	R	MADA-AUST	11632	13811	239062.5	190937.5
	93	G61	13811	R	MADA-AUST	11631	13811	239062.5	191562.5
	93	G61	13811	R	MADA-AUST	11617	13811	239062.5	192187.5
	140	G61	21063	R	MADA-AUST	17412	21063	239687.5	165312.5
	140	G61	21063	R	MADA-AUST	17416	21063	239687.5	165937.5
	140	G61	21063	R	MADA-AUST	17413	21063	239687.5	166562.5
	140	G61	21063	R	MADA-AUST	17408	21063	239687.5	167187.5
	177	G61	25605	R	MADA-AUST	21152	25605	239687.5	175312.5
	177	G61	25605	R	MADA-AUST	21153	25605	239687.5	175937.5
	177	G61	25605	R	MADA-AUST	21154	25605	239687.5	176562.5




    	 	 	 



    	 	 	 



    




	177	G61	25605	R	MADA-AUST	21155	25605	239687.5	177187.5
	177	G61	25605	R	MADA-AUST	21120	25605	239687.5	177812.5
	177	G61	25605	R	MADA-AUST	21127	25605	239687.5	178437.5
	177	G61	25605	R	MADA-AUST	21128	25605	239687.5	179062.5
	177	G61	25605	R	MADA-AUST	21129	25605	239687.5	179687.5
	177	G61	25605	R	MADA-AUST	21172	25605	239687.5	180312.5
	177	G61	25605	R	MADA-AUST	21178	25605	239687.5	180937.5
	177	G61	25605	R	MADA-AUST	21179	25605	239687.5	181562.5
	177	G61	25605	R	MADA-AUST	21180	25605	239687.5	182187.5
	177	G61	25605	R	MADA-AUST	21167	25605	239687.5	182812.5
	177	G61	25605	R	MADA-AUST	21166	25605	239687.5	183437.5
	177	G61	25605	R	MADA-AUST	21165	25605	239687.5	184062.5
	177	G61	25605	R	MADA-AUST	21164	25605	239687.5	184687.5
	93	G61	13811	R	MADA-AUST	11629	13811	239687.5	190312.5
	93	G61	13811	R	MADA-AUST	11642	13811	239687.5	190937.5
	93	G61	13811	R	MADA-AUST	11627	13811	239687.5	191562.5
	93	G61	13811	R	MADA-AUST	11626	13811	239687.5	192187.5
	32	G61	5394	E	MADA-AUST	4554	5394	240312.5	175312.5
	32	G61	5394	E	MADA-AUST	4550	5394	240312.5	175937.5
	32	G61	5394	E	MADA-AUST	4543	5394	240312.5	176562.5
	32	G61	5394	E	MADA-AUST	4548	5394	240312.5	177187.5
	32	G61	5394	E	MADA-AUST	4535	5394	240312.5	177812.5
	32	G61	5394	E	MADA-AUST	4534	5394	240312.5	178437.5
	32	G61	5394	E	MADA-AUST	4531	5394	240312.5	179062.5
	32	G61	5394	E	MADA-AUST	4541	5394	240312.5	179687.5
	129	G61	19932	E	MADA-AUST	14445	19932	240312.5	180312.5
	129	G61	19932	E	MADA-AUST	14447	19932	240312.5	180937.5
	129	G61	19932	E	MADA-AUST	14448	19932	240312.5	181562.5
	129	G61	19932	E	MADA-AUST	14449	19932	240312.5	182187.5
	129	G61	19932	E	MADA-AUST	14433	19932	240312.5	182812.5
	129	G61	19932	E	MADA-AUST	14432	19932	240312.5	183437.5
	129	G61	19932	E	MADA-AUST	14431	19932	240312.5	184062.5
	129	G61	19932	E	MADA-AUST	14430	19932	240312.5	184687.5
	178	G61	25606	R	MADA-AUST	21197	25606	240312.5	185312.5
	178	G61	25606	R	MADA-AUST	21196	25606	240312.5	185937.5
	178	G61	25606	R	MADA-AUST	21195	25606	240312.5	186562.5
	178	G61	25606	R	MADA-AUST	21194	25606	240312.5	187187.5
	93	G61	13811	R	MADA-AUST	11655	13811	240312.5	187812.5
	93	G61	13811	R	MADA-AUST	11661	13811	240312.5	188437.5
	93	G61	13811	R	MADA-AUST	11654	13811	240312.5	189062.5
	93	G61	13811	R	MADA-AUST	11643	13811	240312.5	189687.5
	93	G61	13811	R	MADA-AUST	11625	13811	240312.5	190312.5
	93	G61	13811	R	MADA-AUST	11624	13811	240312.5	190937.5
	93	G61	13811	R	MADA-AUST	11623	13811	240312.5	191562.5
	93	G61	13811	R	MADA-AUST	11622	13811	240312.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19464	28347	240312.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19463	28347	240312.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19452	28347	240312.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19526	28347	240312.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19495	28347	240312.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19488	28347	240312.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19487	28347	240312.5	199062.5
	178	G61	25606	R	MADA-AUST	21192	25606	240937.5	187187.5
	93	G61	13811	R	MADA-AUST	11652	13811	240937.5	187812.5




    	 	 	 



    	 	 	 



    




	93	G61	13811	R	MADA-AUST	11662	13811	240937.5	188437.5
	93	G61	13811	R	MADA-AUST	11650	13811	240937.5	189062.5
	93	G61	13811	R	MADA-AUST	11649	13811	240937.5	189687.5
	93	G61	13811	R	MADA-AUST	11621	13811	240937.5	190312.5
	93	G61	13811	R	MADA-AUST	11651	13811	240937.5	190937.5
	93	G61	13811	R	MADA-AUST	11619	13811	240937.5	191562.5
	93	G61	13811	R	MADA-AUST	11630	13811	240937.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19461	28347	240937.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19490	28347	240937.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19471	28347	240937.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19459	28347	240937.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19485	28347	240937.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19483	28347	240937.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19472	28347	240937.5	199062.5
	178	G61	25606	R	MADA-AUST	21189	25606	241562.5	187187.5
	93	G61	13811	R	MADA-AUST	11648	13811	241562.5	187812.5
	93	G61	13811	R	MADA-AUST	11647	13811	241562.5	188437.5
	93	G61	13811	R	MADA-AUST	11646	13811	241562.5	189062.5
	93	G61	13811	R	MADA-AUST	11645	13811	241562.5	189687.5
	93	G61	13811	R	MADA-AUST	11628	13811	241562.5	190312.5
	93	G61	13811	R	MADA-AUST	11653	13811	241562.5	190937.5
	93	G61	13811	R	MADA-AUST	11663	13811	241562.5	191562.5
	93	G61	13811	R	MADA-AUST	11660	13811	241562.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19458	28347	241562.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19457	28347	241562.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19456	28347	241562.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19455	28347	241562.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19491	28347	241562.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19479	28347	241562.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19478	28347	241562.5	199062.5
	178	G61	25606	R	MADA-AUST	21191	25606	242187.5	187187.5
	93	G61	13811	R	MADA-AUST	11616	13811	242187.5	187812.5
	93	G61	13811	R	MADA-AUST	11644	13811	242187.5	188437.5
	93	G61	13811	R	MADA-AUST	11620	13811	242187.5	189062.5
	93	G61	13811	R	MADA-AUST	11618	13811	242187.5	189687.5
	93	G61	13811	R	MADA-AUST	11659	13811	242187.5	190312.5
	93	G61	13811	R	MADA-AUST	11658	13811	242187.5	190937.5
	93	G61	13811	R	MADA-AUST	11657	13811	242187.5	191562.5
	93	G61	13811	R	MADA-AUST	11656	13811	242187.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19454	28347	242187.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19453	28347	242187.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19489	28347	242187.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19484	28347	242187.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19476	28347	242187.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19475	28347	242187.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19474	28347	242187.5	199062.5
	129	G61	19932	E	MADA-AUST	14457	19932	242812.5	187187.5
	17	H60	3432	R	MADA-AUST	2512	3432	242812.5	187812.5
	17	H60	3432	R	MADA-AUST	2513	3432	242812.5	188437.5
	17	H60	3432	R	MADA-AUST	2514	3432	242812.5	189062.5
	316	G60	28347	R	MAZOTO MINERALS	19528	28347	242812.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19531	28347	242812.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19532	28347	242812.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19533	28347	242812.5	197187.5




    	 	 	 



    	 	 	 



    




	316	G60	28347	R	MAZOTO MINERALS	19480	28347	242812.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19482	28347	242812.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19510	28347	242812.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19509	28347	242812.5	199687.5
	164	G60	24864	R	MADA-AUST	19817	24864	242812.5	200312.5
	164	G60	24864	R	MADA-AUST	19815	24864	242812.5	200937.5
	164	G60	24864	R	MADA-AUST	19819	24864	242812.5	201562.5
	164	G60	24864	R	MADA-AUST	19820	24864	242812.5	202187.5
	164	G60	24864	R	MADA-AUST	19787	24864	242812.5	202812.5
	164	G60	24864	R	MADA-AUST	19786	24864	242812.5	203437.5
	164	G60	24864	R	MADA-AUST	19785	24864	242812.5	204062.5
	164	G60	24864	R	MADA-AUST	19777	24864	242812.5	204687.5
	164	G60	24864	R	MADA-AUST	19811	24864	242812.5	205312.5
	164	G60	24864	R	MADA-AUST	19810	24864	242812.5	205937.5
	164	G60	24864	R	MADA-AUST	19809	24864	242812.5	206562.5
	164	G60	24864	R	MADA-AUST	19808	24864	242812.5	207187.5
	129	G61	19932	E	MADA-AUST	14444	19932	243437.5	187187.5
	17	H60	3432	R	MADA-AUST	2516	3432	243437.5	187812.5
	17	H60	3432	R	MADA-AUST	2517	3432	243437.5	188437.5
	17	H60	3432	R	MADA-AUST	2518	3432	243437.5	189062.5
	316	G60	28347	R	MAZOTO MINERALS	19534	28347	243437.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19535	28347	243437.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19536	28347	243437.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19542	28347	243437.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19508	28347	243437.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19507	28347	243437.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19506	28347	243437.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19505	28347	243437.5	199687.5
	164	G60	24864	R	MADA-AUST	19821	24864	243437.5	200312.5
	164	G60	24864	R	MADA-AUST	19822	24864	243437.5	200937.5
	164	G60	24864	R	MADA-AUST	19823	24864	243437.5	201562.5
	164	G60	24864	R	MADA-AUST	19818	24864	243437.5	202187.5
	164	G60	24864	R	MADA-AUST	19783	24864	243437.5	202812.5
	164	G60	24864	R	MADA-AUST	19782	24864	243437.5	203437.5
	164	G60	24864	R	MADA-AUST	19781	24864	243437.5	204062.5
	164	G60	24864	R	MADA-AUST	19780	24864	243437.5	204687.5
	164	G60	24864	R	MADA-AUST	19807	24864	243437.5	205312.5
	164	G60	24864	R	MADA-AUST	19806	24864	243437.5	205937.5
	164	G60	24864	R	MADA-AUST	19795	24864	243437.5	206562.5
	164	G60	24864	R	MADA-AUST	19803	24864	243437.5	207187.5
	17	H60	3432	R	MADA-AUST	2520	3432	244062.5	187812.5
	17	H60	3432	R	MADA-AUST	2532	3432	244062.5	188437.5
	17	H60	3432	R	MADA-AUST	2522	3432	244062.5	189062.5
	316	G60	28347	R	MAZOTO MINERALS	19538	28347	244062.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19539	28347	244062.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19540	28347	244062.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19541	28347	244062.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19504	28347	244062.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19503	28347	244062.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19492	28347	244062.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19501	28347	244062.5	199687.5
	164	G60	24864	R	MADA-AUST	19804	24864	244062.5	200312.5
	164	G60	24864	R	MADA-AUST	19791	24864	244062.5	200937.5
	164	G60	24864	R	MADA-AUST	19790	24864	244062.5	201562.5




    	 	 	 



    	 	 	 



    




	164	G60	24864	R	MADA-AUST	19802	24864	244062.5	202187.5
	164	G60	24864	R	MADA-AUST	19779	24864	244062.5	202812.5
	164	G60	24864	R	MADA-AUST	19778	24864	244062.5	203437.5
	164	G60	24864	R	MADA-AUST	19784	24864	244062.5	204062.5
	164	G60	24864	R	MADA-AUST	19776	24864	244062.5	204687.5
	164	G60	24864	R	MADA-AUST	19814	24864	244062.5	205312.5
	164	G60	24864	R	MADA-AUST	19793	24864	244062.5	205937.5
	164	G60	24864	R	MADA-AUST	19801	24864	244062.5	206562.5
	164	G60	24864	R	MADA-AUST	19800	24864	244062.5	207187.5
	17	H60	3432	R	MADA-AUST	2526	3432	244687.5	189062.5
	316	G60	28347	R	MAZOTO MINERALS	19537	28347	244687.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19544	28347	244687.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19543	28347	244687.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19530	28347	244687.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19511	28347	244687.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19499	28347	244687.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19498	28347	244687.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19497	28347	244687.5	199687.5
	164	G60	24864	R	MADA-AUST	19789	24864	244687.5	200312.5
	164	G60	24864	R	MADA-AUST	19816	24864	244687.5	200937.5
	164	G60	24864	R	MADA-AUST	19794	24864	244687.5	201562.5
	164	G60	24864	R	MADA-AUST	19788	24864	244687.5	202187.5
	164	G60	24864	R	MADA-AUST	19792	24864	244687.5	202812.5
	164	G60	24864	R	MADA-AUST	19805	24864	244687.5	203437.5
	164	G60	24864	R	MADA-AUST	19813	24864	244687.5	204062.5
	164	G60	24864	R	MADA-AUST	19812	24864	244687.5	204687.5
	164	G60	24864	R	MADA-AUST	19799	24864	244687.5	205312.5
	164	G60	24864	R	MADA-AUST	19798	24864	244687.5	205937.5
	164	G60	24864	R	MADA-AUST	19797	24864	244687.5	206562.5
	164	G60	24864	R	MADA-AUST	19796	24864	244687.5	207187.5
	17	H60	3432	R	MADA-AUST	2563	3432	245312.5	189687.5
	17	H60	3432	R	MADA-AUST	2559	3432	245312.5	190312.5
	17	H60	3432	R	MADA-AUST	2576	3432	245312.5	190937.5
	17	H60	3432	R	MADA-AUST	2535	3432	245312.5	191562.5
	17	H60	3432	R	MADA-AUST	2577	3432	245312.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19518	28347	245312.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19513	28347	245312.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19514	28347	245312.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19515	28347	245312.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19467	28347	245312.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19496	28347	245312.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19473	28347	245312.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19494	28347	245312.5	199687.5
	100	G60	14620	R	MADA-AUST	11997	14620	245312.5	200312.5
	100	G60	14620	R	MADA-AUST	11996	14620	245312.5	200937.5
	100	G60	14620	R	MADA-AUST	11995	14620	245312.5	201562.5
	100	G60	14620	R	MADA-AUST	11989	14620	245312.5	202187.5
	100	G60	14620	R	MADA-AUST	12021	14620	245312.5	202812.5
	100	G60	14620	R	MADA-AUST	12013	14620	245312.5	203437.5
	100	G60	14620	R	MADA-AUST	12019	14620	245312.5	204062.5
	100	G60	14620	R	MADA-AUST	11990	14620	245312.5	204687.5
	100	G60	14620	R	MADA-AUST	12018	14620	245312.5	205312.5
	100	G60	14620	R	MADA-AUST	12005	14620	245312.5	205937.5
	100	G60	14620	R	MADA-AUST	12000	14620	245312.5	206562.5




    	 	 	 



    	 	 	 



    




	100	G60	14620	R	MADA-AUST	12001	14620	245312.5	207187.5
	332	G60	29020	R	MADA-AUST	22204	29020	245312.5	207812.5
	17	H60	3432	R	MADA-AUST	2580	3432	245937.5	190312.5
	17	H60	3432	R	MADA-AUST	2581	3432	245937.5	190937.5
	17	H60	3432	R	MADA-AUST	2635	3432	245937.5	191562.5
	17	H60	3432	R	MADA-AUST	3957	3432	245937.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19516	28347	245937.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19517	28347	245937.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19527	28347	245937.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19519	28347	245937.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19493	28347	245937.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19502	28347	245937.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19469	28347	245937.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19450	28347	245937.5	199687.5
	100	G60	14620	R	MADA-AUST	11994	14620	245937.5	200312.5
	100	G60	14620	R	MADA-AUST	11998	14620	245937.5	200937.5
	100	G60	14620	R	MADA-AUST	11993	14620	245937.5	201562.5
	100	G60	14620	R	MADA-AUST	11992	14620	245937.5	202187.5
	100	G60	14620	R	MADA-AUST	12030	14620	245937.5	202812.5
	100	G60	14620	R	MADA-AUST	12020	14620	245937.5	203437.5
	100	G60	14620	R	MADA-AUST	12015	14620	245937.5	204062.5
	100	G60	14620	R	MADA-AUST	12022	14620	245937.5	204687.5
	100	G60	14620	R	MADA-AUST	12002	14620	245937.5	205312.5
	100	G60	14620	R	MADA-AUST	12003	14620	245937.5	205937.5
	100	G60	14620	R	MADA-AUST	12004	14620	245937.5	206562.5
	100	G60	14620	R	MADA-AUST	12014	14620	245937.5	207187.5
	332	G60	29020	R	MADA-AUST	22191	29020	245937.5	207812.5
	332	G60	29020	R	MADA-AUST	22192	29020	245937.5	208437.5
	332	G60	29020	R	MADA-AUST	22193	29020	245937.5	209062.5
	17	H60	3432	R	MADA-AUST	3703	3432	246562.5	190937.5
	17	H60	3432	R	MADA-AUST	3704	3432	246562.5	191562.5
	17	H60	3432	R	MADA-AUST	3705	3432	246562.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19512	28347	246562.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19521	28347	246562.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19520	28347	246562.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19522	28347	246562.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19449	28347	246562.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19448	28347	246562.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19447	28347	246562.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19439	28347	246562.5	199687.5
	100	G60	14620	R	MADA-AUST	11991	14620	246562.5	200312.5
	100	G60	14620	R	MADA-AUST	11987	14620	246562.5	200937.5
	100	G60	14620	R	MADA-AUST	11984	14620	246562.5	201562.5
	100	G60	14620	R	MADA-AUST	11986	14620	246562.5	202187.5
	100	G60	14620	R	MADA-AUST	12028	14620	246562.5	202812.5
	100	G60	14620	R	MADA-AUST	12024	14620	246562.5	203437.5
	100	G60	14620	R	MADA-AUST	12025	14620	246562.5	204062.5
	100	G60	14620	R	MADA-AUST	12026	14620	246562.5	204687.5
	100	G60	14620	R	MADA-AUST	12006	14620	246562.5	205312.5
	100	G60	14620	R	MADA-AUST	12007	14620	246562.5	205937.5
	100	G60	14620	R	MADA-AUST	11999	14620	246562.5	206562.5
	100	G60	14620	R	MADA-AUST	12017	14620	246562.5	207187.5
	332	G60	29020	R	MADA-AUST	22190	29020	246562.5	207812.5
	332	G60	29020	R	MADA-AUST	22180	29020	246562.5	208437.5




    	 	 	 



    	 	 	 



    




	332	G60	29020	R	MADA-AUST	22188	29020	246562.5	209062.5
	332	G60	29020	R	MADA-AUST	22182	29020	246562.5	209687.5
	17	H60	3432	R	MADA-AUST	3681	3432	247187.5	191562.5
	17	H60	3432	R	MADA-AUST	3679	3432	247187.5	192187.5
	316	G60	28347	R	MAZOTO MINERALS	19529	28347	247187.5	195312.5
	316	G60	28347	R	MAZOTO MINERALS	19523	28347	247187.5	195937.5
	316	G60	28347	R	MAZOTO MINERALS	19524	28347	247187.5	196562.5
	316	G60	28347	R	MAZOTO MINERALS	19525	28347	247187.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19445	28347	247187.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19451	28347	247187.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19443	28347	247187.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19442	28347	247187.5	199687.5
	100	G60	14620	R	MADA-AUST	11988	14620	247187.5	200312.5
	100	G60	14620	R	MADA-AUST	11985	14620	247187.5	200937.5
	100	G60	14620	R	MADA-AUST	12012	14620	247187.5	201562.5
	100	G60	14620	R	MADA-AUST	12016	14620	247187.5	202187.5
	100	G60	14620	R	MADA-AUST	12027	14620	247187.5	202812.5
	100	G60	14620	R	MADA-AUST	12023	14620	247187.5	203437.5
	100	G60	14620	R	MADA-AUST	12031	14620	247187.5	204062.5
	100	G60	14620	R	MADA-AUST	12029	14620	247187.5	204687.5
	100	G60	14620	R	MADA-AUST	12008	14620	247187.5	205312.5
	100	G60	14620	R	MADA-AUST	12009	14620	247187.5	205937.5
	100	G60	14620	R	MADA-AUST	12010	14620	247187.5	206562.5
	100	G60	14620	R	MADA-AUST	12011	14620	247187.5	207187.5
	332	G60	29020	R	MADA-AUST	22187	29020	247187.5	207812.5
	332	G60	29020	R	MADA-AUST	22194	29020	247187.5	208437.5
	332	G60	29020	R	MADA-AUST	22186	29020	247187.5	209062.5
	332	G60	29020	R	MADA-AUST	22178	29020	247187.5	209687.5
	312	G60	28340	R	MAZOTO MINERALS	19274	28340	247187.5	210312.5
	312	G60	28340	R	MAZOTO MINERALS	19300	28340	247187.5	210937.5
	17	H60	3432	R	MADA-AUST	3720	3432	247812.5	192187.5
	17	H60	3432	R	MADA-AUST	3770	3432	247812.5	192812.5
	17	H60	3432	R	MADA-AUST	3771	3432	247812.5	193437.5
	17	H60	3432	R	MADA-AUST	3782	3432	247812.5	194062.5
	17	H60	3432	R	MADA-AUST	3773	3432	247812.5	194687.5
	17	H60	3432	R	MADA-AUST	3651	3432	247812.5	195312.5
	17	H60	3432	R	MADA-AUST	3642	3432	247812.5	195937.5
	17	H60	3432	R	MADA-AUST	3634	3432	247812.5	196562.5
	17	H60	3432	R	MADA-AUST	3644	3432	247812.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19437	28347	247812.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19433	28347	247812.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19434	28347	247812.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19435	28347	247812.5	199687.5
	318	G60	28349	R	MAZOTO MINERALS	19576	28349	247812.5	205312.5
	318	G60	28349	R	MAZOTO MINERALS	19575	28349	247812.5	205937.5
	318	G60	28349	R	MAZOTO MINERALS	19574	28349	247812.5	206562.5
	318	G60	28349	R	MAZOTO MINERALS	19573	28349	247812.5	207187.5
	132	G60	19935	R	MADA-AUST	14520	19935	247812.5	207812.5
	132	G60	19935	R	MADA-AUST	14526	19935	247812.5	208437.5
	132	G60	19935	R	MADA-AUST	14525	19935	247812.5	209062.5
	132	G60	19935	R	MADA-AUST	14524	19935	247812.5	209687.5
	312	G60	28340	R	MAZOTO MINERALS	19310	28340	247812.5	210312.5
	312	G60	28340	R	MAZOTO MINERALS	19309	28340	247812.5	210937.5
	312	G60	28340	R	MAZOTO MINERALS	19308	28340	247812.5	211562.5




    	 	 	 



    	 	 	 



    




	312	G60	28340	R	MAZOTO MINERALS	19307	28340	247812.5	212187.5
	17	H60	3432	R	MADA-AUST	3764	3432	248437.5	192812.5
	17	H60	3432	R	MADA-AUST	3775	3432	248437.5	193437.5
	17	H60	3432	R	MADA-AUST	3701	3432	248437.5	194062.5
	17	H60	3432	R	MADA-AUST	3643	3432	248437.5	194687.5
	17	H60	3432	R	MADA-AUST	3645	3432	248437.5	195312.5
	17	H60	3432	R	MADA-AUST	3646	3432	248437.5	195937.5
	17	H60	3432	R	MADA-AUST	3647	3432	248437.5	196562.5
	17	H60	3432	R	MADA-AUST	3648	3432	248437.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19436	28347	248437.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19441	28347	248437.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19438	28347	248437.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19440	28347	248437.5	199687.5
	318	G60	28349	R	MAZOTO MINERALS	19572	28349	248437.5	205312.5
	318	G60	28349	R	MAZOTO MINERALS	19571	28349	248437.5	205937.5
	318	G60	28349	R	MAZOTO MINERALS	19570	28349	248437.5	206562.5
	318	G60	28349	R	MAZOTO MINERALS	19569	28349	248437.5	207187.5
	132	G60	19935	R	MADA-AUST	14523	19935	248437.5	207812.5
	132	G60	19935	R	MADA-AUST	14522	19935	248437.5	208437.5
	132	G60	19935	R	MADA-AUST	14521	19935	248437.5	209062.5
	132	G60	19935	R	MADA-AUST	14513	19935	248437.5	209687.5
	312	G60	28340	R	MAZOTO MINERALS	19306	28340	248437.5	210312.5
	312	G60	28340	R	MAZOTO MINERALS	19305	28340	248437.5	210937.5
	312	G60	28340	R	MAZOTO MINERALS	19304	28340	248437.5	211562.5
	312	G60	28340	R	MAZOTO MINERALS	19303	28340	248437.5	212187.5
	312	G60	28340	R	MAZOTO MINERALS	19336	28340	248437.5	212812.5
	17	H60	3432	R	MADA-AUST	3660	3432	249062.5	193437.5
	17	H60	3432	R	MADA-AUST	3635	3432	249062.5	194062.5
	17	H60	3432	R	MADA-AUST	3636	3432	249062.5	194687.5
	17	H60	3432	R	MADA-AUST	3649	3432	249062.5	195312.5
	17	H60	3432	R	MADA-AUST	3650	3432	249062.5	195937.5
	17	H60	3432	R	MADA-AUST	3672	3432	249062.5	196562.5
	17	H60	3432	R	MADA-AUST	3700	3432	249062.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19444	28347	249062.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19462	28347	249062.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19470	28347	249062.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19460	28347	249062.5	199687.5
	318	G60	28349	R	MAZOTO MINERALS	19561	28349	249062.5	205312.5
	318	G60	28349	R	MAZOTO MINERALS	19562	28349	249062.5	205937.5
	318	G60	28349	R	MAZOTO MINERALS	19563	28349	249062.5	206562.5
	318	G60	28349	R	MAZOTO MINERALS	19564	28349	249062.5	207187.5
	132	G60	19935	R	MADA-AUST	14519	19935	249062.5	207812.5
	132	G60	19935	R	MADA-AUST	14527	19935	249062.5	208437.5
	132	G60	19935	R	MADA-AUST	14517	19935	249062.5	209062.5
	132	G60	19935	R	MADA-AUST	14516	19935	249062.5	209687.5
	312	G60	28340	R	MAZOTO MINERALS	19292	28340	249062.5	210312.5
	312	G60	28340	R	MAZOTO MINERALS	19301	28340	249062.5	210937.5
	312	G60	28340	R	MAZOTO MINERALS	19311	28340	249062.5	211562.5
	312	G60	28340	R	MAZOTO MINERALS	19299	28340	249062.5	212187.5
	312	G60	28340	R	MAZOTO MINERALS	19302	28340	249062.5	212812.5
	312	G60	28340	R	MAZOTO MINERALS	19273	28340	249062.5	213437.5
	312	G60	28340	R	MAZOTO MINERALS	19313	28340	249062.5	214062.5
	17	H60	3432	R	MADA-AUST	3639	3432	249687.5	194062.5
	17	H60	3432	R	MADA-AUST	3640	3432	249687.5	194687.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3669	3432	249687.5	195312.5
	17	H60	3432	R	MADA-AUST	3692	3432	249687.5	195937.5
	17	H60	3432	R	MADA-AUST	3693	3432	249687.5	196562.5
	17	H60	3432	R	MADA-AUST	3694	3432	249687.5	197187.5
	316	G60	28347	R	MAZOTO MINERALS	19468	28347	249687.5	197812.5
	316	G60	28347	R	MAZOTO MINERALS	19446	28347	249687.5	198437.5
	316	G60	28347	R	MAZOTO MINERALS	19466	28347	249687.5	199062.5
	316	G60	28347	R	MAZOTO MINERALS	19465	28347	249687.5	199687.5
	318	G60	28349	R	MAZOTO MINERALS	19565	28349	249687.5	205312.5
	318	G60	28349	R	MAZOTO MINERALS	19566	28349	249687.5	205937.5
	318	G60	28349	R	MAZOTO MINERALS	19567	28349	249687.5	206562.5
	318	G60	28349	R	MAZOTO MINERALS	19568	28349	249687.5	207187.5
	132	G60	19935	R	MADA-AUST	14515	19935	249687.5	207812.5
	132	G60	19935	R	MADA-AUST	14518	19935	249687.5	208437.5
	132	G60	19935	R	MADA-AUST	14514	19935	249687.5	209062.5
	132	G60	19935	R	MADA-AUST	14512	19935	249687.5	209687.5
	312	G60	28340	R	MAZOTO MINERALS	19298	28340	249687.5	210312.5
	312	G60	28340	R	MAZOTO MINERALS	19297	28340	249687.5	210937.5
	312	G60	28340	R	MAZOTO MINERALS	19296	28340	249687.5	211562.5
	312	G60	28340	R	MAZOTO MINERALS	19295	28340	249687.5	212187.5
	312	G60	28340	R	MAZOTO MINERALS	19288	28340	249687.5	212812.5
	17	H60	3432	R	MADA-AUST	3750	3432	250312.5	194687.5
	17	H60	3432	R	MADA-AUST	3609	3432	250312.5	195312.5
	17	H60	3432	R	MADA-AUST	3608	3432	250312.5	195937.5
	17	H60	3432	R	MADA-AUST	3607	3432	250312.5	196562.5
	17	H60	3432	R	MADA-AUST	3597	3432	250312.5	197187.5
	17	H60	3432	R	MADA-AUST	3667	3432	250312.5	197812.5
	17	H60	3432	R	MADA-AUST	3666	3432	250312.5	198437.5
	17	H60	3432	R	MADA-AUST	3665	3432	250312.5	199062.5
	17	H60	3432	R	MADA-AUST	3664	3432	250312.5	199687.5
	17	H60	3432	R	MADA-AUST	3613	3432	250312.5	200312.5
	17	H60	3432	R	MADA-AUST	4050	3432	250312.5	200937.5
	17	H60	3432	R	MADA-AUST	4066	3432	250312.5	201562.5
	17	H60	3432	R	MADA-AUST	4065	3432	250312.5	202187.5
	86	G60	13064	R	MADA-AUST	8930	13064	250312.5	202812.5
	86	G60	13064	R	MADA-AUST	8943	13064	250312.5	203437.5
	86	G60	13064	R	MADA-AUST	8942	13064	250312.5	204062.5
	86	G60	13064	R	MADA-AUST	8941	13064	250312.5	204687.5
	86	G60	13064	R	MADA-AUST	8951	13064	250312.5	205312.5
	86	G60	13064	R	MADA-AUST	8935	13064	250312.5	205937.5
	86	G60	13064	R	MADA-AUST	8937	13064	250312.5	206562.5
	86	G60	13064	R	MADA-AUST	8959	13064	250312.5	207187.5
	86	G60	13064	R	MADA-AUST	8952	13064	250312.5	207812.5
	86	G60	13064	R	MADA-AUST	8962	13064	250312.5	208437.5
	86	G60	13064	R	MADA-AUST	8963	13064	250312.5	209062.5
	86	G60	13064	R	MADA-AUST	8964	13064	250312.5	209687.5
	131	G60	19934	R	MADA-AUST	14497	19934	250312.5	210312.5
	131	G60	19934	R	MADA-AUST	14498	19934	250312.5	210937.5
	131	G60	19934	R	MADA-AUST	14499	19934	250312.5	211562.5
	131	G60	19934	R	MADA-AUST	14500	19934	250312.5	212187.5
	320	G60	28353	R	MAZOTO MINERALS	19728	28353	250312.5	217812.5
	320	G60	28353	R	MAZOTO MINERALS	19729	28353	250312.5	218437.5
	17	H60	3432	R	MADA-AUST	3605	3432	250937.5	195312.5
	17	H60	3432	R	MADA-AUST	3614	3432	250937.5	195937.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3603	3432	250937.5	196562.5
	17	H60	3432	R	MADA-AUST	3602	3432	250937.5	197187.5
	17	H60	3432	R	MADA-AUST	3663	3432	250937.5	197812.5
	17	H60	3432	R	MADA-AUST	3652	3432	250937.5	198437.5
	17	H60	3432	R	MADA-AUST	3661	3432	250937.5	199062.5
	17	H60	3432	R	MADA-AUST	3915	3432	250937.5	199687.5
	17	H60	3432	R	MADA-AUST	4064	3432	250937.5	200312.5
	17	H60	3432	R	MADA-AUST	4063	3432	250937.5	200937.5
	17	H60	3432	R	MADA-AUST	4062	3432	250937.5	201562.5
	17	H60	3432	R	MADA-AUST	4061	3432	250937.5	202187.5
	86	G60	13064	R	MADA-AUST	8940	13064	250937.5	202812.5
	86	G60	13064	R	MADA-AUST	8939	13064	250937.5	203437.5
	86	G60	13064	R	MADA-AUST	8938	13064	250937.5	204062.5
	86	G60	13064	R	MADA-AUST	8929	13064	250937.5	204687.5
	86	G60	13064	R	MADA-AUST	8958	13064	250937.5	205312.5
	86	G60	13064	R	MADA-AUST	8957	13064	250937.5	205937.5
	86	G60	13064	R	MADA-AUST	8946	13064	250937.5	206562.5
	86	G60	13064	R	MADA-AUST	8947	13064	250937.5	207187.5
	86	G60	13064	R	MADA-AUST	8965	13064	250937.5	207812.5
	86	G60	13064	R	MADA-AUST	8966	13064	250937.5	208437.5
	86	G60	13064	R	MADA-AUST	8950	13064	250937.5	209062.5
	86	G60	13064	R	MADA-AUST	8968	13064	250937.5	209687.5
	131	G60	19934	R	MADA-AUST	14501	19934	250937.5	210312.5
	131	G60	19934	R	MADA-AUST	14511	19934	250937.5	210937.5
	131	G60	19934	R	MADA-AUST	14502	19934	250937.5	211562.5
	131	G60	19934	R	MADA-AUST	14496	19934	250937.5	212187.5
	320	G60	28353	R	MAZOTO MINERALS	19732	28353	250937.5	217812.5
	320	G60	28353	R	MAZOTO MINERALS	19721	28353	250937.5	218437.5
	320	G60	28353	R	MAZOTO MINERALS	19734	28353	250937.5	219062.5
	320	G60	28353	R	MAZOTO MINERALS	19735	28353	250937.5	219687.5
	320	G60	28353	R	MAZOTO MINERALS	19762	28353	250937.5	220312.5
	17	H60	3432	R	MADA-AUST	3600	3432	251562.5	195937.5
	17	H60	3432	R	MADA-AUST	3599	3432	251562.5	196562.5
	17	H60	3432	R	MADA-AUST	3598	3432	251562.5	197187.5
	17	H60	3432	R	MADA-AUST	3659	3432	251562.5	197812.5
	17	H60	3432	R	MADA-AUST	3837	3432	251562.5	198437.5
	17	H60	3432	R	MADA-AUST	3658	3432	251562.5	199062.5
	17	H60	3432	R	MADA-AUST	3657	3432	251562.5	199687.5
	17	H60	3432	R	MADA-AUST	4051	3432	251562.5	200312.5
	17	H60	3432	R	MADA-AUST	4059	3432	251562.5	200937.5
	17	H60	3432	R	MADA-AUST	4067	3432	251562.5	201562.5
	17	H60	3432	R	MADA-AUST	4057	3432	251562.5	202187.5
	86	G60	13064	R	MADA-AUST	8953	13064	251562.5	202812.5
	86	G60	13064	R	MADA-AUST	8936	13064	251562.5	203437.5
	86	G60	13064	R	MADA-AUST	8961	13064	251562.5	204062.5
	86	G60	13064	R	MADA-AUST	8944	13064	251562.5	204687.5
	86	G60	13064	R	MADA-AUST	8948	13064	251562.5	205312.5
	86	G60	13064	R	MADA-AUST	8949	13064	251562.5	205937.5
	86	G60	13064	R	MADA-AUST	8960	13064	251562.5	206562.5
	86	G60	13064	R	MADA-AUST	8945	13064	251562.5	207187.5
	86	G60	13064	R	MADA-AUST	8928	13064	251562.5	207812.5
	86	G60	13064	R	MADA-AUST	8969	13064	251562.5	208437.5
	86	G60	13064	R	MADA-AUST	8970	13064	251562.5	209062.5
	86	G60	13064	R	MADA-AUST	8971	13064	251562.5	209687.5




    	 	 	 



    	 	 	 



    




	131	G60	19934	R	MADA-AUST	14503	19934	251562.5	210312.5
	131	G60	19934	R	MADA-AUST	14504	19934	251562.5	210937.5
	131	G60	19934	R	MADA-AUST	14505	19934	251562.5	211562.5
	131	G60	19934	R	MADA-AUST	14506	19934	251562.5	212187.5
	320	G60	28353	R	MAZOTO MINERALS	19736	28353	251562.5	217812.5
	320	G60	28353	R	MAZOTO MINERALS	19737	28353	251562.5	218437.5
	320	G60	28353	R	MAZOTO MINERALS	19738	28353	251562.5	219062.5
	320	G60	28353	R	MAZOTO MINERALS	19739	28353	251562.5	219687.5
	320	G60	28353	R	MAZOTO MINERALS	19752	28353	251562.5	220312.5
	320	G60	28353	R	MAZOTO MINERALS	19731	28353	251562.5	220937.5
	320	G60	28353	R	MAZOTO MINERALS	19722	28353	251562.5	221562.5
	320	G60	28353	R	MAZOTO MINERALS	19723	28353	251562.5	222187.5
	17	H60	3432	R	MADA-AUST	3668	3432	252187.5	197187.5
	17	H60	3432	R	MADA-AUST	3656	3432	252187.5	197812.5
	17	H60	3432	R	MADA-AUST	3655	3432	252187.5	198437.5
	17	H60	3432	R	MADA-AUST	3654	3432	252187.5	199062.5
	17	H60	3432	R	MADA-AUST	3653	3432	252187.5	199687.5
	17	H60	3432	R	MADA-AUST	4056	3432	252187.5	200312.5
	17	H60	3432	R	MADA-AUST	4055	3432	252187.5	200937.5
	17	H60	3432	R	MADA-AUST	4054	3432	252187.5	201562.5
	17	H60	3432	R	MADA-AUST	4053	3432	252187.5	202187.5
	86	G60	13064	R	MADA-AUST	8934	13064	252187.5	202812.5
	86	G60	13064	R	MADA-AUST	8933	13064	252187.5	203437.5
	86	G60	13064	R	MADA-AUST	8932	13064	252187.5	204062.5
	86	G60	13064	R	MADA-AUST	8931	13064	252187.5	204687.5
	86	G60	13064	R	MADA-AUST	8954	13064	252187.5	205312.5
	86	G60	13064	R	MADA-AUST	8955	13064	252187.5	205937.5
	86	G60	13064	R	MADA-AUST	8956	13064	252187.5	206562.5
	86	G60	13064	R	MADA-AUST	8967	13064	252187.5	207187.5
	86	G60	13064	R	MADA-AUST	8972	13064	252187.5	207812.5
	86	G60	13064	R	MADA-AUST	8973	13064	252187.5	208437.5
	86	G60	13064	R	MADA-AUST	8974	13064	252187.5	209062.5
	86	G60	13064	R	MADA-AUST	8975	13064	252187.5	209687.5
	131	G60	19934	R	MADA-AUST	14507	19934	252187.5	210312.5
	131	G60	19934	R	MADA-AUST	14508	19934	252187.5	210937.5
	131	G60	19934	R	MADA-AUST	14509	19934	252187.5	211562.5
	131	G60	19934	R	MADA-AUST	14510	19934	252187.5	212187.5
	320	G60	28353	R	MAZOTO MINERALS	19733	28353	252187.5	217812.5
	320	G60	28353	R	MAZOTO MINERALS	19740	28353	252187.5	218437.5
	320	G60	28353	R	MAZOTO MINERALS	19746	28353	252187.5	219062.5
	320	G60	28353	R	MAZOTO MINERALS	19741	28353	252187.5	219687.5
	320	G60	28353	R	MAZOTO MINERALS	19724	28353	252187.5	220312.5
	320	G60	28353	R	MAZOTO MINERALS	19725	28353	252187.5	220937.5
	320	G60	28353	R	MAZOTO MINERALS	19726	28353	252187.5	221562.5
	320	G60	28353	R	MAZOTO MINERALS	19727	28353	252187.5	222187.5
	320	G60	28353	R	MAZOTO MINERALS	19756	28353	252187.5	222812.5
	320	G60	28353	R	MAZOTO MINERALS	19761	28353	252187.5	223437.5
	320	G60	28353	R	MAZOTO MINERALS	19768	28353	252187.5	224062.5
	17	H60	3432	R	MADA-AUST	4019	3432	252812.5	198437.5
	17	H60	3432	R	MADA-AUST	4018	3432	252812.5	199062.5
	17	H60	3432	R	MADA-AUST	4017	3432	252812.5	199687.5
	17	H60	3432	R	MADA-AUST	4039	3432	252812.5	200312.5
	17	H60	3432	R	MADA-AUST	4038	3432	252812.5	200937.5
	17	H60	3432	R	MADA-AUST	4037	3432	252812.5	201562.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	4036	3432	252812.5	202187.5
	17	H60	3432	R	MADA-AUST	4130	3432	252812.5	202812.5
	17	H60	3432	R	MADA-AUST	4139	3432	252812.5	203437.5
	17	H60	3432	R	MADA-AUST	4128	3432	252812.5	204062.5
	17	H60	3432	R	MADA-AUST	4127	3432	252812.5	204687.5
	17	H60	3432	R	MADA-AUST	4149	3432	252812.5	205312.5
	17	H60	3432	R	MADA-AUST	4140	3432	252812.5	205937.5
	17	H60	3432	R	MADA-AUST	4148	3432	252812.5	206562.5
	17	H60	3432	R	MADA-AUST	4156	3432	252812.5	207187.5
	317	G60	28348	R	MAZOTO MINERALS	19558	28348	252812.5	207812.5
	317	G60	28348	R	MAZOTO MINERALS	19557	28348	252812.5	208437.5
	317	G60	28348	R	MAZOTO MINERALS	19551	28348	252812.5	209062.5
	317	G60	28348	R	MAZOTO MINERALS	19556	28348	252812.5	209687.5
	127	G60	19851	R	MADA-AUST	14345	19851	252812.5	210312.5
	127	G60	19851	R	MADA-AUST	14337	19851	252812.5	210937.5
	127	G60	19851	R	MADA-AUST	14338	19851	252812.5	211562.5
	127	G60	19851	R	MADA-AUST	14339	19851	252812.5	212187.5
	127	G60	19851	R	MADA-AUST	14335	19851	252812.5	212812.5
	127	G60	19851	R	MADA-AUST	14343	19851	252812.5	213437.5
	127	G60	19851	R	MADA-AUST	14333	19851	252812.5	214062.5
	127	G60	19851	R	MADA-AUST	14332	19851	252812.5	214687.5
	101	G60	14622	R	MADA-AUST	12053	14622	252812.5	215312.5
	101	G60	14622	R	MADA-AUST	12054	14622	252812.5	215937.5
	101	G60	14622	R	MADA-AUST	12055	14622	252812.5	216562.5
	101	G60	14622	R	MADA-AUST	12050	14622	252812.5	217187.5
	101	G60	14622	R	MADA-AUST	12069	14622	252812.5	217812.5
	101	G60	14622	R	MADA-AUST	12070	14622	252812.5	218437.5
	101	G60	14622	R	MADA-AUST	12062	14622	252812.5	219062.5
	101	G60	14622	R	MADA-AUST	12049	14622	252812.5	219687.5
	101	G60	14622	R	MADA-AUST	12042	14622	252812.5	220312.5
	101	G60	14622	R	MADA-AUST	12043	14622	252812.5	220937.5
	101	G60	14622	R	MADA-AUST	12044	14622	252812.5	221562.5
	101	G60	14622	R	MADA-AUST	12045	14622	252812.5	222187.5
	101	G60	14622	R	MADA-AUST	12095	14622	252812.5	222812.5
	101	G60	14622	R	MADA-AUST	12093	14622	252812.5	223437.5
	101	G60	14622	R	MADA-AUST	12094	14622	252812.5	224062.5
	101	G60	14622	R	MADA-AUST	12090	14622	252812.5	224687.5
	320	G60	28353	R	MAZOTO MINERALS	19676	28353	252812.5	225312.5
	320	G60	28353	R	MAZOTO MINERALS	19675	28353	252812.5	225937.5
	17	H60	3432	R	MADA-AUST	4035	3432	253437.5	200312.5
	17	H60	3432	R	MADA-AUST	4034	3432	253437.5	200937.5
	17	H60	3432	R	MADA-AUST	4031	3432	253437.5	201562.5
	17	H60	3432	R	MADA-AUST	4096	3432	253437.5	202187.5
	17	H60	3432	R	MADA-AUST	4126	3432	253437.5	202812.5
	17	H60	3432	R	MADA-AUST	4125	3432	253437.5	203437.5
	17	H60	3432	R	MADA-AUST	4124	3432	253437.5	204062.5
	17	H60	3432	R	MADA-AUST	4147	3432	253437.5	204687.5
	17	H60	3432	R	MADA-AUST	4146	3432	253437.5	205312.5
	17	H60	3432	R	MADA-AUST	4145	3432	253437.5	205937.5
	17	H60	3432	R	MADA-AUST	4144	3432	253437.5	206562.5
	17	H60	3432	R	MADA-AUST	4143	3432	253437.5	207187.5
	317	G60	28348	R	MAZOTO MINERALS	19560	28348	253437.5	207812.5
	317	G60	28348	R	MAZOTO MINERALS	19555	28348	253437.5	208437.5
	317	G60	28348	R	MAZOTO MINERALS	19554	28348	253437.5	209062.5




    	 	 	 



    	 	 	 



    




	317	G60	28348	R	MAZOTO MINERALS	19553	28348	253437.5	209687.5
	127	G60	19851	R	MADA-AUST	14340	19851	253437.5	210312.5
	127	G60	19851	R	MADA-AUST	14341	19851	253437.5	210937.5
	127	G60	19851	R	MADA-AUST	14342	19851	253437.5	211562.5
	127	G60	19851	R	MADA-AUST	14344	19851	253437.5	212187.5
	127	G60	19851	R	MADA-AUST	14331	19851	253437.5	212812.5
	127	G60	19851	R	MADA-AUST	14330	19851	253437.5	213437.5
	127	G60	19851	R	MADA-AUST	14334	19851	253437.5	214062.5
	127	G60	19851	R	MADA-AUST	14329	19851	253437.5	214687.5
	101	G60	14622	R	MADA-AUST	12056	14622	253437.5	215312.5
	101	G60	14622	R	MADA-AUST	12060	14622	253437.5	215937.5
	101	G60	14622	R	MADA-AUST	12057	14622	253437.5	216562.5
	101	G60	14622	R	MADA-AUST	12058	14622	253437.5	217187.5
	101	G60	14622	R	MADA-AUST	12039	14622	253437.5	217812.5
	101	G60	14622	R	MADA-AUST	12038	14622	253437.5	218437.5
	101	G60	14622	R	MADA-AUST	12073	14622	253437.5	219062.5
	101	G60	14622	R	MADA-AUST	12036	14622	253437.5	219687.5
	101	G60	14622	R	MADA-AUST	12046	14622	253437.5	220312.5
	101	G60	14622	R	MADA-AUST	12051	14622	253437.5	220937.5
	101	G60	14622	R	MADA-AUST	12047	14622	253437.5	221562.5
	101	G60	14622	R	MADA-AUST	12048	14622	253437.5	222187.5
	101	G60	14622	R	MADA-AUST	12084	14622	253437.5	222812.5
	101	G60	14622	R	MADA-AUST	12083	14622	253437.5	223437.5
	101	G60	14622	R	MADA-AUST	12082	14622	253437.5	224062.5
	101	G60	14622	R	MADA-AUST	12081	14622	253437.5	224687.5
	320	G60	28353	R	MAZOTO MINERALS	19680	28353	253437.5	225312.5
	320	G60	28353	R	MAZOTO MINERALS	19684	28353	253437.5	225937.5
	320	G60	28353	R	MAZOTO MINERALS	19685	28353	253437.5	226562.5
	320	G60	28353	R	MAZOTO MINERALS	19686	28353	253437.5	227187.5
	320	G60	28353	R	MAZOTO MINERALS	19702	28353	253437.5	227812.5
	17	H60	3432	R	MADA-AUST	4136	3432	254062.5	201562.5
	17	H60	3432	R	MADA-AUST	4135	3432	254062.5	202187.5
	17	H60	3432	R	MADA-AUST	4129	3432	254062.5	202812.5
	17	H60	3432	R	MADA-AUST	4131	3432	254062.5	203437.5
	17	H60	3432	R	MADA-AUST	4155	3432	254062.5	204062.5
	17	H60	3432	R	MADA-AUST	4154	3432	254062.5	204687.5
	17	H60	3432	R	MADA-AUST	4142	3432	254062.5	205312.5
	17	H60	3432	R	MADA-AUST	4141	3432	254062.5	205937.5
	17	H60	3432	R	MADA-AUST	4113	3432	254062.5	206562.5
	17	H60	3432	R	MADA-AUST	4087	3432	254062.5	207187.5
	317	G60	28348	R	MAZOTO MINERALS	19559	28348	254062.5	207812.5
	317	G60	28348	R	MAZOTO MINERALS	19550	28348	254062.5	208437.5
	317	G60	28348	R	MAZOTO MINERALS	19545	28348	254062.5	209062.5
	317	G60	28348	R	MAZOTO MINERALS	19546	28348	254062.5	209687.5
	127	G60	19851	R	MADA-AUST	14336	19851	254062.5	210312.5
	127	G60	19851	R	MADA-AUST	14346	19851	254062.5	210937.5
	127	G60	19851	R	MADA-AUST	14347	19851	254062.5	211562.5
	127	G60	19851	R	MADA-AUST	14348	19851	254062.5	212187.5
	127	G60	19851	R	MADA-AUST	14320	19851	254062.5	212812.5
	127	G60	19851	R	MADA-AUST	14328	19851	254062.5	213437.5
	127	G60	19851	R	MADA-AUST	14327	19851	254062.5	214062.5
	127	G60	19851	R	MADA-AUST	14326	19851	254062.5	214687.5
	101	G60	14622	R	MADA-AUST	12059	14622	254062.5	215312.5
	101	G60	14622	R	MADA-AUST	12071	14622	254062.5	215937.5




    	 	 	 



    	 	 	 



    




	101	G60	14622	R	MADA-AUST	12061	14622	254062.5	216562.5
	101	G60	14622	R	MADA-AUST	12052	14622	254062.5	217187.5
	101	G60	14622	R	MADA-AUST	12037	14622	254062.5	217812.5
	101	G60	14622	R	MADA-AUST	12040	14622	254062.5	218437.5
	101	G60	14622	R	MADA-AUST	12035	14622	254062.5	219062.5
	101	G60	14622	R	MADA-AUST	12034	14622	254062.5	219687.5
	101	G60	14622	R	MADA-AUST	12032	14622	254062.5	220312.5
	101	G60	14622	R	MADA-AUST	12074	14622	254062.5	220937.5
	101	G60	14622	R	MADA-AUST	12086	14622	254062.5	221562.5
	101	G60	14622	R	MADA-AUST	12087	14622	254062.5	222187.5
	101	G60	14622	R	MADA-AUST	12072	14622	254062.5	222812.5
	101	G60	14622	R	MADA-AUST	12080	14622	254062.5	223437.5
	101	G60	14622	R	MADA-AUST	12088	14622	254062.5	224062.5
	101	G60	14622	R	MADA-AUST	12079	14622	254062.5	224687.5
	320	G60	28353	R	MAZOTO MINERALS	19687	28353	254062.5	225312.5
	320	G60	28353	R	MAZOTO MINERALS	19688	28353	254062.5	225937.5
	320	G60	28353	R	MAZOTO MINERALS	19696	28353	254062.5	226562.5
	320	G60	28353	R	MAZOTO MINERALS	19689	28353	254062.5	227187.5
	320	G60	28353	R	MAZOTO MINERALS	19693	28353	254062.5	227812.5
	320	G60	28353	R	MAZOTO MINERALS	19705	28353	254062.5	228437.5
	320	G60	28353	R	MAZOTO MINERALS	19707	28353	254062.5	229062.5
	320	G60	28353	R	MAZOTO MINERALS	19720	28353	254062.5	229687.5
	17	H60	3432	R	MADA-AUST	4153	3432	254687.5	202812.5
	17	H60	3432	R	MADA-AUST	4152	3432	254687.5	203437.5
	17	H60	3432	R	MADA-AUST	4151	3432	254687.5	204062.5
	17	H60	3432	R	MADA-AUST	4150	3432	254687.5	204687.5
	17	H60	3432	R	MADA-AUST	4093	3432	254687.5	205312.5
	17	H60	3432	R	MADA-AUST	4095	3432	254687.5	205937.5
	17	H60	3432	R	MADA-AUST	4120	3432	254687.5	206562.5
	17	H60	3432	R	MADA-AUST	4119	3432	254687.5	207187.5
	317	G60	28348	R	MAZOTO MINERALS	19547	28348	254687.5	207812.5
	317	G60	28348	R	MAZOTO MINERALS	19552	28348	254687.5	208437.5
	317	G60	28348	R	MAZOTO MINERALS	19549	28348	254687.5	209062.5
	317	G60	28348	R	MAZOTO MINERALS	19548	28348	254687.5	209687.5
	127	G60	19851	R	MADA-AUST	14349	19851	254687.5	210312.5
	127	G60	19851	R	MADA-AUST	14350	19851	254687.5	210937.5
	127	G60	19851	R	MADA-AUST	14351	19851	254687.5	211562.5
	127	G60	19851	R	MADA-AUST	14321	19851	254687.5	212187.5
	127	G60	19851	R	MADA-AUST	14325	19851	254687.5	212812.5
	127	G60	19851	R	MADA-AUST	14324	19851	254687.5	213437.5
	127	G60	19851	R	MADA-AUST	14323	19851	254687.5	214062.5
	127	G60	19851	R	MADA-AUST	14322	19851	254687.5	214687.5
	101	G60	14622	R	MADA-AUST	12063	14622	254687.5	215312.5
	101	G60	14622	R	MADA-AUST	12064	14622	254687.5	215937.5
	101	G60	14622	R	MADA-AUST	12066	14622	254687.5	216562.5
	101	G60	14622	R	MADA-AUST	12068	14622	254687.5	217187.5
	101	G60	14622	R	MADA-AUST	12033	14622	254687.5	217812.5
	101	G60	14622	R	MADA-AUST	12067	14622	254687.5	218437.5
	101	G60	14622	R	MADA-AUST	12065	14622	254687.5	219062.5
	101	G60	14622	R	MADA-AUST	12041	14622	254687.5	219687.5
	101	G60	14622	R	MADA-AUST	12089	14622	254687.5	220312.5
	101	G60	14622	R	MADA-AUST	12085	14622	254687.5	220937.5
	101	G60	14622	R	MADA-AUST	12091	14622	254687.5	221562.5
	101	G60	14622	R	MADA-AUST	12092	14622	254687.5	222187.5




    	 	 	 



    	 	 	 



    




	101	G60	14622	R	MADA-AUST	12078	14622	254687.5	222812.5
	101	G60	14622	R	MADA-AUST	12077	14622	254687.5	223437.5
	101	G60	14622	R	MADA-AUST	12076	14622	254687.5	224062.5
	101	G60	14622	R	MADA-AUST	12075	14622	254687.5	224687.5
	320	G60	28353	R	MAZOTO MINERALS	19690	28353	254687.5	225312.5
	320	G60	28353	R	MAZOTO MINERALS	19691	28353	254687.5	225937.5
	320	G60	28353	R	MAZOTO MINERALS	19694	28353	254687.5	226562.5
	320	G60	28353	R	MAZOTO MINERALS	19695	28353	254687.5	227187.5
	320	G60	28353	R	MAZOTO MINERALS	19708	28353	254687.5	227812.5
	320	G60	28353	R	MAZOTO MINERALS	19697	28353	254687.5	228437.5
	320	G60	28353	R	MAZOTO MINERALS	19710	28353	254687.5	229062.5
	320	G60	28353	R	MAZOTO MINERALS	19711	28353	254687.5	229687.5
	17	H60	3432	R	MADA-AUST	4091	3432	255312.5	204687.5
	17	H60	3432	R	MADA-AUST	3914	3432	255312.5	205312.5
	17	H60	3432	R	MADA-AUST	3913	3432	255312.5	205937.5
	17	H60	3432	R	MADA-AUST	3912	3432	255312.5	206562.5
	17	H60	3432	R	MADA-AUST	3911	3432	255312.5	207187.5
	17	H60	3432	R	MADA-AUST	3925	3432	255312.5	207812.5
	17	H60	3432	R	MADA-AUST	3905	3432	255312.5	208437.5
	17	H60	3432	R	MADA-AUST	3907	3432	255312.5	209062.5
	17	H60	3432	R	MADA-AUST	3935	3432	255312.5	209687.5
	17	H60	3432	R	MADA-AUST	3922	3432	255312.5	210312.5
	17	H60	3432	R	MADA-AUST	3921	3432	255312.5	210937.5
	17	H60	3432	R	MADA-AUST	3920	3432	255312.5	211562.5
	17	H60	3432	R	MADA-AUST	3919	3432	255312.5	212187.5
	319	H60	28352	R	MAZOTO MINERALS	19647	28352	255312.5	212812.5
	319	H60	28352	R	MAZOTO MINERALS	19642	28352	255312.5	213437.5
	319	H60	28352	R	MAZOTO MINERALS	19643	28352	255312.5	214062.5
	319	H60	28352	R	MAZOTO MINERALS	19644	28352	255312.5	214687.5
	319	H60	28352	R	MAZOTO MINERALS	19655	28352	255312.5	215312.5
	319	H60	28352	R	MAZOTO MINERALS	19658	28352	255312.5	215937.5
	319	H60	28352	R	MAZOTO MINERALS	19664	28352	255312.5	216562.5
	319	H60	28352	R	MAZOTO MINERALS	19661	28352	255312.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19606	28352	255312.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19590	28352	255312.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19589	28352	255312.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19588	28352	255312.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19627	28352	255312.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19621	28352	255312.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19620	28352	255312.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19619	28352	255312.5	222187.5
	17	H60	3432	R	MADA-AUST	3909	3432	255937.5	205937.5
	17	H60	3432	R	MADA-AUST	3908	3432	255937.5	206562.5
	17	H60	3432	R	MADA-AUST	3897	3432	255937.5	207187.5
	17	H60	3432	R	MADA-AUST	3934	3432	255937.5	207812.5
	17	H60	3432	R	MADA-AUST	3933	3432	255937.5	208437.5
	17	H60	3432	R	MADA-AUST	3932	3432	255937.5	209062.5
	17	H60	3432	R	MADA-AUST	3931	3432	255937.5	209687.5
	17	H60	3432	R	MADA-AUST	3895	3432	255937.5	210312.5
	17	H60	3432	R	MADA-AUST	3927	3432	255937.5	210937.5
	17	H60	3432	R	MADA-AUST	3898	3432	255937.5	211562.5
	17	H60	3432	R	MADA-AUST	3875	3432	255937.5	212187.5
	319	H60	28352	R	MAZOTO MINERALS	19645	28352	255937.5	212812.5
	319	H60	28352	R	MAZOTO MINERALS	19646	28352	255937.5	213437.5




    	 	 	 



    	 	 	 



    




	319	H60	28352	R	MAZOTO MINERALS	19656	28352	255937.5	214062.5
	319	H60	28352	R	MAZOTO MINERALS	19648	28352	255937.5	214687.5
	319	H60	28352	R	MAZOTO MINERALS	19662	28352	255937.5	215312.5
	319	H60	28352	R	MAZOTO MINERALS	19663	28352	255937.5	215937.5
	319	H60	28352	R	MAZOTO MINERALS	19657	28352	255937.5	216562.5
	319	H60	28352	R	MAZOTO MINERALS	19665	28352	255937.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19586	28352	255937.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19591	28352	255937.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19584	28352	255937.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19583	28352	255937.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19618	28352	255937.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19654	28352	255937.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19609	28352	255937.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19623	28352	255937.5	222187.5
	17	H60	3432	R	MADA-AUST	3903	3432	256562.5	207187.5
	17	H60	3432	R	MADA-AUST	3930	3432	256562.5	207812.5
	17	H60	3432	R	MADA-AUST	3929	3432	256562.5	208437.5
	17	H60	3432	R	MADA-AUST	3928	3432	256562.5	209062.5
	17	H60	3432	R	MADA-AUST	3917	3432	256562.5	209687.5
	17	H60	3432	R	MADA-AUST	3874	3432	256562.5	210312.5
	17	H60	3432	R	MADA-AUST	3873	3432	256562.5	210937.5
	17	H60	3432	R	MADA-AUST	3872	3432	256562.5	211562.5
	17	H60	3432	R	MADA-AUST	3871	3432	256562.5	212187.5
	319	H60	28352	R	MAZOTO MINERALS	19641	28352	256562.5	212812.5
	319	H60	28352	R	MAZOTO MINERALS	19649	28352	256562.5	213437.5
	319	H60	28352	R	MAZOTO MINERALS	19650	28352	256562.5	214062.5
	319	H60	28352	R	MAZOTO MINERALS	19659	28352	256562.5	214687.5
	319	H60	28352	R	MAZOTO MINERALS	19671	28352	256562.5	215312.5
	319	H60	28352	R	MAZOTO MINERALS	19667	28352	256562.5	215937.5
	319	H60	28352	R	MAZOTO MINERALS	19668	28352	256562.5	216562.5
	319	H60	28352	R	MAZOTO MINERALS	19670	28352	256562.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19582	28352	256562.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19581	28352	256562.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19580	28352	256562.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19579	28352	256562.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19624	28352	256562.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19614	28352	256562.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19613	28352	256562.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19612	28352	256562.5	222187.5
	17	H60	3432	R	MADA-AUST	3936	3432	257187.5	208437.5
	17	H60	3432	R	MADA-AUST	3924	3432	257187.5	209062.5
	17	H60	3432	R	MADA-AUST	3923	3432	257187.5	209687.5
	17	H60	3432	R	MADA-AUST	3870	3432	257187.5	210312.5
	17	H60	3432	R	MADA-AUST	3869	3432	257187.5	210937.5
	17	H60	3432	R	MADA-AUST	3858	3432	257187.5	211562.5
	17	H60	3432	R	MADA-AUST	3867	3432	257187.5	212187.5
	319	H60	28352	R	MAZOTO MINERALS	19651	28352	257187.5	212812.5
	319	H60	28352	R	MAZOTO MINERALS	19652	28352	257187.5	213437.5
	319	H60	28352	R	MAZOTO MINERALS	19653	28352	257187.5	214062.5
	319	H60	28352	R	MAZOTO MINERALS	19616	28352	257187.5	214687.5
	319	H60	28352	R	MAZOTO MINERALS	19666	28352	257187.5	215312.5
	319	H60	28352	R	MAZOTO MINERALS	19672	28352	257187.5	215937.5
	319	H60	28352	R	MAZOTO MINERALS	19669	28352	257187.5	216562.5
	319	H60	28352	R	MAZOTO MINERALS	19660	28352	257187.5	217187.5




    	 	 	 



    	 	 	 



    




	319	H60	28352	R	MAZOTO MINERALS	19578	28352	257187.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19577	28352	257187.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19585	28352	257187.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19601	28352	257187.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19611	28352	257187.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19631	28352	257187.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19615	28352	257187.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19617	28352	257187.5	222187.5
	17	H60	3432	R	MADA-AUST	3876	3432	257812.5	210312.5
	17	H60	3432	R	MADA-AUST	3865	3432	257812.5	210937.5
	17	H60	3432	R	MADA-AUST	3864	3432	257812.5	211562.5
	17	H60	3432	R	MADA-AUST	3863	3432	257812.5	212187.5
	17	H60	3432	R	MADA-AUST	3890	3432	257812.5	212812.5
	17	H60	3432	R	MADA-AUST	3889	3432	257812.5	213437.5
	17	H60	3432	R	MADA-AUST	3888	3432	257812.5	214062.5
	17	H60	3432	R	MADA-AUST	3877	3432	257812.5	214687.5
	17	H60	3432	R	MADA-AUST	3993	3432	257812.5	215312.5
	17	H60	3432	R	MADA-AUST	3992	3432	257812.5	215937.5
	17	H60	3432	R	MADA-AUST	3991	3432	257812.5	216562.5
	17	H60	3432	R	MADA-AUST	3990	3432	257812.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19607	28352	257812.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19599	28352	257812.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19605	28352	257812.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19587	28352	257812.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19639	28352	257812.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19638	28352	257812.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19637	28352	257812.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19636	28352	257812.5	222187.5
	17	H60	3432	R	MADA-AUST	3860	3432	258437.5	211562.5
	17	H60	3432	R	MADA-AUST	3859	3432	258437.5	212187.5
	17	H60	3432	R	MADA-AUST	3886	3432	258437.5	212812.5
	17	H60	3432	R	MADA-AUST	3896	3432	258437.5	213437.5
	17	H60	3432	R	MADA-AUST	3884	3432	258437.5	214062.5
	17	H60	3432	R	MADA-AUST	3883	3432	258437.5	214687.5
	17	H60	3432	R	MADA-AUST	3989	3432	258437.5	215312.5
	17	H60	3432	R	MADA-AUST	3988	3432	258437.5	215937.5
	17	H60	3432	R	MADA-AUST	3987	3432	258437.5	216562.5
	17	H60	3432	R	MADA-AUST	3976	3432	258437.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19603	28352	258437.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19602	28352	258437.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19592	28352	258437.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19600	28352	258437.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19635	28352	258437.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19634	28352	258437.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19625	28352	258437.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19632	28352	258437.5	222187.5
	17	H60	3432	R	MADA-AUST	3882	3432	259062.5	212812.5
	17	H60	3432	R	MADA-AUST	3881	3432	259062.5	213437.5
	17	H60	3432	R	MADA-AUST	3880	3432	259062.5	214062.5
	17	H60	3432	R	MADA-AUST	3879	3432	259062.5	214687.5
	17	H60	3432	R	MADA-AUST	3985	3432	259062.5	215312.5
	17	H60	3432	R	MADA-AUST	3995	3432	259062.5	215937.5
	17	H60	3432	R	MADA-AUST	3983	3432	259062.5	216562.5
	17	H60	3432	R	MADA-AUST	3982	3432	259062.5	217187.5




    	 	 	 



    	 	 	 



    




	319	H60	28352	R	MAZOTO MINERALS	19608	28352	259062.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19598	28352	259062.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19597	28352	259062.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19596	28352	259062.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19640	28352	259062.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19630	28352	259062.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19629	28352	259062.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19604	28352	259062.5	222187.5
	17	H60	3432	R	MADA-AUST	3994	3432	259687.5	214687.5
	17	H60	3432	R	MADA-AUST	3981	3432	259687.5	215312.5
	17	H60	3432	R	MADA-AUST	3980	3432	259687.5	215937.5
	17	H60	3432	R	MADA-AUST	3979	3432	259687.5	216562.5
	17	H60	3432	R	MADA-AUST	3978	3432	259687.5	217187.5
	319	H60	28352	R	MAZOTO MINERALS	19595	28352	259687.5	217812.5
	319	H60	28352	R	MAZOTO MINERALS	19594	28352	259687.5	218437.5
	319	H60	28352	R	MAZOTO MINERALS	19593	28352	259687.5	219062.5
	319	H60	28352	R	MAZOTO MINERALS	19622	28352	259687.5	219687.5
	319	H60	28352	R	MAZOTO MINERALS	19628	28352	259687.5	220312.5
	319	H60	28352	R	MAZOTO MINERALS	19610	28352	259687.5	220937.5
	319	H60	28352	R	MAZOTO MINERALS	19626	28352	259687.5	221562.5
	319	H60	28352	R	MAZOTO MINERALS	19633	28352	259687.5	222187.5
	17	H60	3432	R	MADA-AUST	3984	3432	260312.5	215937.5
	17	H60	3432	R	MADA-AUST	3986	3432	260312.5	216562.5
	17	H60	3432	R	MADA-AUST	4014	3432	260312.5	217187.5
	17	H60	3432	R	MADA-AUST	4001	3432	260312.5	217812.5
	17	H60	3432	R	MADA-AUST	4000	3432	260312.5	218437.5
	17	H60	3432	R	MADA-AUST	3999	3432	260312.5	219062.5
	17	H60	3432	R	MADA-AUST	3998	3432	260312.5	219687.5
	17	H60	3432	R	MADA-AUST	3955	3432	260312.5	220312.5
	17	H60	3432	R	MADA-AUST	3944	3432	260312.5	220937.5
	17	H60	3432	R	MADA-AUST	3943	3432	260312.5	221562.5
	17	H60	3432	R	MADA-AUST	3942	3432	260312.5	222187.5
	17	H60	3432	R	MADA-AUST	4010	3432	260937.5	217187.5
	17	H60	3432	R	MADA-AUST	3974	3432	260937.5	217812.5
	17	H60	3432	R	MADA-AUST	4006	3432	260937.5	218437.5
	17	H60	3432	R	MADA-AUST	3977	3432	260937.5	219062.5
	17	H60	3432	R	MADA-AUST	3954	3432	260937.5	219687.5
	17	H60	3432	R	MADA-AUST	3941	3432	260937.5	220312.5
	17	H60	3432	R	MADA-AUST	3940	3432	260937.5	220937.5
	17	H60	3432	R	MADA-AUST	3939	3432	260937.5	221562.5
	17	H60	3432	R	MADA-AUST	3938	3432	260937.5	222187.5
	17	H60	3432	R	MADA-AUST	3953	3432	261562.5	217812.5
	17	H60	3432	R	MADA-AUST	3952	3432	261562.5	218437.5
	17	H60	3432	R	MADA-AUST	3951	3432	261562.5	219062.5
	17	H60	3432	R	MADA-AUST	3950	3432	261562.5	219687.5
	17	H60	3432	R	MADA-AUST	3964	3432	261562.5	220312.5
	17	H60	3432	R	MADA-AUST	3966	3432	261562.5	220937.5
	17	H60	3432	R	MADA-AUST	3947	3432	261562.5	221562.5
	17	H60	3432	R	MADA-AUST	3973	3432	261562.5	222187.5
	17	H60	3432	R	MADA-AUST	3948	3432	262187.5	218437.5
	17	H60	3432	R	MADA-AUST	3937	3432	262187.5	219062.5
	17	H60	3432	R	MADA-AUST	3946	3432	262187.5	219687.5
	17	H60	3432	R	MADA-AUST	3972	3432	262187.5	220312.5
	17	H60	3432	R	MADA-AUST	3971	3432	262187.5	220937.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3970	3432	262187.5	221562.5
	17	H60	3432	R	MADA-AUST	3969	3432	262187.5	222187.5
	17	H60	3432	R	MADA-AUST	3967	3432	262812.5	218437.5
	17	H60	3432	R	MADA-AUST	3956	3432	262812.5	219062.5
	17	H60	3432	R	MADA-AUST	3965	3432	262812.5	219687.5
	17	H60	3432	R	MADA-AUST	2996	3432	262812.5	220312.5
	17	H60	3432	R	MADA-AUST	2995	3432	262812.5	220937.5
	17	H60	3432	R	MADA-AUST	2994	3432	262812.5	221562.5
	17	H60	3432	R	MADA-AUST	2993	3432	262812.5	222187.5
	17	H60	3432	R	MADA-AUST	2980	3432	262812.5	230312.5
	17	H60	3432	R	MADA-AUST	2979	3432	262812.5	230937.5
	17	H60	3432	R	MADA-AUST	2978	3432	262812.5	231562.5
	17	H60	3432	R	MADA-AUST	2977	3432	262812.5	232187.5
	17	H60	3432	R	MADA-AUST	3017	3432	262812.5	232812.5
	17	H60	3432	R	MADA-AUST	3016	3432	262812.5	233437.5
	17	H60	3432	R	MADA-AUST	3015	3432	262812.5	234062.5
	17	H60	3432	R	MADA-AUST	3000	3432	262812.5	234687.5
	17	H60	3432	R	MADA-AUST	3001	3432	262812.5	235312.5
	17	H60	3432	R	MADA-AUST	2972	3432	262812.5	235937.5
	17	H60	3432	R	MADA-AUST	2932	3432	262812.5	236562.5
	17	H60	3432	R	MADA-AUST	2985	3432	262812.5	237187.5
	17	H60	3432	R	MADA-AUST	2946	3432	262812.5	237812.5
	17	H60	3432	R	MADA-AUST	2931	3432	262812.5	238437.5
	17	H60	3432	R	MADA-AUST	2930	3432	262812.5	239062.5
	17	H60	3432	R	MADA-AUST	2929	3432	262812.5	239687.5
	17	H60	3432	R	MADA-AUST	2969	3432	262812.5	240312.5
	17	H60	3432	R	MADA-AUST	2968	3432	262812.5	240937.5
	17	H60	3432	R	MADA-AUST	2967	3432	262812.5	241562.5
	17	H60	3432	R	MADA-AUST	2966	3432	262812.5	242187.5
	17	H60	3432	R	MADA-AUST	2953	3432	262812.5	242812.5
	17	H60	3432	R	MADA-AUST	2952	3432	262812.5	243437.5
	17	H60	3432	R	MADA-AUST	2951	3432	262812.5	244062.5
	17	H60	3432	R	MADA-AUST	2950	3432	262812.5	244687.5
	17	H60	3432	R	MADA-AUST	3097	3432	262812.5	245312.5
	17	H60	3432	R	MADA-AUST	3096	3432	262812.5	245937.5
	17	H60	3432	R	MADA-AUST	3095	3432	262812.5	246562.5
	17	H60	3432	R	MADA-AUST	3080	3432	262812.5	247187.5
	17	H60	3432	R	MADA-AUST	3119	3432	262812.5	247812.5
	17	H60	3432	R	MADA-AUST	3092	3432	262812.5	248437.5
	17	H60	3432	R	MADA-AUST	3094	3432	262812.5	249062.5
	17	H60	3432	R	MADA-AUST	3132	3432	262812.5	249687.5
	17	H60	3432	R	MADA-AUST	3133	3432	262812.5	250312.5
	17	H60	3432	R	MADA-AUST	3118	3432	262812.5	250937.5
	17	H60	3432	R	MADA-AUST	3117	3432	262812.5	251562.5
	17	H60	3432	R	MADA-AUST	3116	3432	262812.5	252187.5
	17	H60	3432	R	MADA-AUST	3049	3432	262812.5	252812.5
	17	H60	3432	R	MADA-AUST	3048	3432	262812.5	253437.5
	17	H60	3432	R	MADA-AUST	3047	3432	262812.5	254062.5
	17	H60	3432	R	MADA-AUST	3046	3432	262812.5	254687.5
	17	H60	3432	R	MADA-AUST	3033	3432	262812.5	255312.5
	17	H60	3432	R	MADA-AUST	3032	3432	262812.5	255937.5
	17	H60	3432	R	MADA-AUST	3031	3432	262812.5	256562.5
	17	H60	3432	R	MADA-AUST	3030	3432	262812.5	257187.5
	17	H60	3432	R	MADA-AUST	3962	3432	263437.5	219062.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3961	3432	263437.5	219687.5
	17	H60	3432	R	MADA-AUST	2992	3432	263437.5	220312.5
	17	H60	3432	R	MADA-AUST	2991	3432	263437.5	220937.5
	17	H60	3432	R	MADA-AUST	2990	3432	263437.5	221562.5
	17	H60	3432	R	MADA-AUST	2989	3432	263437.5	222187.5
	17	H60	3432	R	MADA-AUST	2976	3432	263437.5	230312.5
	17	H60	3432	R	MADA-AUST	2975	3432	263437.5	230937.5
	17	H60	3432	R	MADA-AUST	3012	3432	263437.5	231562.5
	17	H60	3432	R	MADA-AUST	3014	3432	263437.5	232187.5
	17	H60	3432	R	MADA-AUST	3013	3432	263437.5	232812.5
	17	H60	3432	R	MADA-AUST	3026	3432	263437.5	233437.5
	17	H60	3432	R	MADA-AUST	3011	3432	263437.5	234062.5
	17	H60	3432	R	MADA-AUST	3010	3432	263437.5	234687.5
	17	H60	3432	R	MADA-AUST	2944	3432	263437.5	235312.5
	17	H60	3432	R	MADA-AUST	2943	3432	263437.5	235937.5
	17	H60	3432	R	MADA-AUST	2942	3432	263437.5	236562.5
	17	H60	3432	R	MADA-AUST	2941	3432	263437.5	237187.5
	17	H60	3432	R	MADA-AUST	2928	3432	263437.5	237812.5
	17	H60	3432	R	MADA-AUST	2927	3432	263437.5	238437.5
	17	H60	3432	R	MADA-AUST	2926	3432	263437.5	239062.5
	17	H60	3432	R	MADA-AUST	2925	3432	263437.5	239687.5
	17	H60	3432	R	MADA-AUST	2965	3432	263437.5	240312.5
	17	H60	3432	R	MADA-AUST	2964	3432	263437.5	240937.5
	17	H60	3432	R	MADA-AUST	2963	3432	263437.5	241562.5
	17	H60	3432	R	MADA-AUST	2962	3432	263437.5	242187.5
	17	H60	3432	R	MADA-AUST	2949	3432	263437.5	242812.5
	17	H60	3432	R	MADA-AUST	2948	3432	263437.5	243437.5
	17	H60	3432	R	MADA-AUST	3038	3432	263437.5	244062.5
	17	H60	3432	R	MADA-AUST	3108	3432	263437.5	244687.5
	17	H60	3432	R	MADA-AUST	3093	3432	263437.5	245312.5
	17	H60	3432	R	MADA-AUST	3106	3432	263437.5	245937.5
	17	H60	3432	R	MADA-AUST	3091	3432	263437.5	246562.5
	17	H60	3432	R	MADA-AUST	3090	3432	263437.5	247187.5
	17	H60	3432	R	MADA-AUST	3131	3432	263437.5	247812.5
	17	H60	3432	R	MADA-AUST	3130	3432	263437.5	248437.5
	17	H60	3432	R	MADA-AUST	3129	3432	263437.5	249062.5
	17	H60	3432	R	MADA-AUST	3128	3432	263437.5	249687.5
	17	H60	3432	R	MADA-AUST	3115	3432	263437.5	250312.5
	17	H60	3432	R	MADA-AUST	3114	3432	263437.5	250937.5
	17	H60	3432	R	MADA-AUST	3113	3432	263437.5	251562.5
	17	H60	3432	R	MADA-AUST	3112	3432	263437.5	252187.5
	17	H60	3432	R	MADA-AUST	3045	3432	263437.5	252812.5
	17	H60	3432	R	MADA-AUST	3044	3432	263437.5	253437.5
	17	H60	3432	R	MADA-AUST	3043	3432	263437.5	254062.5
	17	H60	3432	R	MADA-AUST	3042	3432	263437.5	254687.5
	17	H60	3432	R	MADA-AUST	3029	3432	263437.5	255312.5
	17	H60	3432	R	MADA-AUST	3028	3432	263437.5	255937.5
	17	H60	3432	R	MADA-AUST	3065	3432	263437.5	256562.5
	17	H60	3432	R	MADA-AUST	3067	3432	263437.5	257187.5
	17	H60	3432	R	MADA-AUST	3531	3432	264062.5	219687.5
	17	H60	3432	R	MADA-AUST	2988	3432	264062.5	220312.5
	17	H60	3432	R	MADA-AUST	2974	3432	264062.5	220937.5
	17	H60	3432	R	MADA-AUST	2986	3432	264062.5	221562.5
	17	H60	3432	R	MADA-AUST	2999	3432	264062.5	222187.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	2987	3432	264062.5	230312.5
	17	H60	3432	R	MADA-AUST	3024	3432	264062.5	230937.5
	17	H60	3432	R	MADA-AUST	3023	3432	264062.5	231562.5
	17	H60	3432	R	MADA-AUST	3022	3432	264062.5	232187.5
	17	H60	3432	R	MADA-AUST	3009	3432	264062.5	232812.5
	17	H60	3432	R	MADA-AUST	3008	3432	264062.5	233437.5
	17	H60	3432	R	MADA-AUST	3007	3432	264062.5	234062.5
	17	H60	3432	R	MADA-AUST	3006	3432	264062.5	234687.5
	17	H60	3432	R	MADA-AUST	2940	3432	264062.5	235312.5
	17	H60	3432	R	MADA-AUST	2939	3432	264062.5	235937.5
	17	H60	3432	R	MADA-AUST	2938	3432	264062.5	236562.5
	17	H60	3432	R	MADA-AUST	2937	3432	264062.5	237187.5
	17	H60	3432	R	MADA-AUST	2924	3432	264062.5	237812.5
	17	H60	3432	R	MADA-AUST	2923	3432	264062.5	238437.5
	17	H60	3432	R	MADA-AUST	2922	3432	264062.5	239062.5
	17	H60	3432	R	MADA-AUST	2959	3432	264062.5	239687.5
	17	H60	3432	R	MADA-AUST	2947	3432	264062.5	240312.5
	17	H60	3432	R	MADA-AUST	2960	3432	264062.5	240937.5
	17	H60	3432	R	MADA-AUST	2973	3432	264062.5	241562.5
	17	H60	3432	R	MADA-AUST	2958	3432	264062.5	242187.5
	17	H60	3432	R	MADA-AUST	3025	3432	264062.5	242812.5
	17	H60	3432	R	MADA-AUST	3104	3432	264062.5	243437.5
	17	H60	3432	R	MADA-AUST	3103	3432	264062.5	244062.5
	17	H60	3432	R	MADA-AUST	3102	3432	264062.5	244687.5
	17	H60	3432	R	MADA-AUST	3089	3432	264062.5	245312.5
	17	H60	3432	R	MADA-AUST	3088	3432	264062.5	245937.5
	17	H60	3432	R	MADA-AUST	3087	3432	264062.5	246562.5
	17	H60	3432	R	MADA-AUST	3086	3432	264062.5	247187.5
	17	H60	3432	R	MADA-AUST	3127	3432	264062.5	247812.5
	17	H60	3432	R	MADA-AUST	3126	3432	264062.5	248437.5
	17	H60	3432	R	MADA-AUST	3125	3432	264062.5	249062.5
	17	H60	3432	R	MADA-AUST	3124	3432	264062.5	249687.5
	17	H60	3432	R	MADA-AUST	3111	3432	264062.5	250312.5
	17	H60	3432	R	MADA-AUST	3110	3432	264062.5	250937.5
	17	H60	3432	R	MADA-AUST	3109	3432	264062.5	251562.5
	17	H60	3432	R	MADA-AUST	3078	3432	264062.5	252187.5
	17	H60	3432	R	MADA-AUST	3041	3432	264062.5	252812.5
	17	H60	3432	R	MADA-AUST	3027	3432	264062.5	253437.5
	17	H60	3432	R	MADA-AUST	3039	3432	264062.5	254062.5
	17	H60	3432	R	MADA-AUST	3052	3432	264062.5	254687.5
	17	H60	3432	R	MADA-AUST	3040	3432	264062.5	255312.5
	17	H60	3432	R	MADA-AUST	3077	3432	264062.5	255937.5
	17	H60	3432	R	MADA-AUST	3076	3432	264062.5	256562.5
	17	H60	3432	R	MADA-AUST	3075	3432	264062.5	257187.5
	17	H60	3432	R	MADA-AUST	2984	3432	264687.5	220312.5
	17	H60	3432	R	MADA-AUST	2983	3432	264687.5	220937.5
	17	H60	3432	R	MADA-AUST	2982	3432	264687.5	221562.5
	17	H60	3432	R	MADA-AUST	2981	3432	264687.5	222187.5
	17	H60	3432	R	MADA-AUST	3021	3432	264687.5	230312.5
	17	H60	3432	R	MADA-AUST	3020	3432	264687.5	230937.5
	17	H60	3432	R	MADA-AUST	3019	3432	264687.5	231562.5
	17	H60	3432	R	MADA-AUST	3018	3432	264687.5	232187.5
	17	H60	3432	R	MADA-AUST	3005	3432	264687.5	232812.5
	17	H60	3432	R	MADA-AUST	3004	3432	264687.5	233437.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3003	3432	264687.5	234062.5
	17	H60	3432	R	MADA-AUST	3002	3432	264687.5	234687.5
	17	H60	3432	R	MADA-AUST	2936	3432	264687.5	235312.5
	17	H60	3432	R	MADA-AUST	2935	3432	264687.5	235937.5
	17	H60	3432	R	MADA-AUST	2921	3432	264687.5	236562.5
	17	H60	3432	R	MADA-AUST	2933	3432	264687.5	237187.5
	17	H60	3432	R	MADA-AUST	2961	3432	264687.5	237812.5
	17	H60	3432	R	MADA-AUST	2934	3432	264687.5	238437.5
	17	H60	3432	R	MADA-AUST	2971	3432	264687.5	239062.5
	17	H60	3432	R	MADA-AUST	2970	3432	264687.5	239687.5
	17	H60	3432	R	MADA-AUST	2957	3432	264687.5	240312.5
	17	H60	3432	R	MADA-AUST	2956	3432	264687.5	240937.5
	17	H60	3432	R	MADA-AUST	2955	3432	264687.5	241562.5
	17	H60	3432	R	MADA-AUST	2954	3432	264687.5	242187.5
	17	H60	3432	R	MADA-AUST	3101	3432	264687.5	242812.5
	17	H60	3432	R	MADA-AUST	3100	3432	264687.5	243437.5
	17	H60	3432	R	MADA-AUST	3099	3432	264687.5	244062.5
	17	H60	3432	R	MADA-AUST	3098	3432	264687.5	244687.5
	17	H60	3432	R	MADA-AUST	3085	3432	264687.5	245312.5
	17	H60	3432	R	MADA-AUST	3084	3432	264687.5	245937.5
	17	H60	3432	R	MADA-AUST	3083	3432	264687.5	246562.5
	17	H60	3432	R	MADA-AUST	3082	3432	264687.5	247187.5
	17	H60	3432	R	MADA-AUST	3123	3432	264687.5	247812.5
	17	H60	3432	R	MADA-AUST	3122	3432	264687.5	248437.5
	17	H60	3432	R	MADA-AUST	3107	3432	264687.5	249062.5
	17	H60	3432	R	MADA-AUST	3120	3432	264687.5	249687.5
	17	H60	3432	R	MADA-AUST	3121	3432	264687.5	250312.5
	17	H60	3432	R	MADA-AUST	3081	3432	264687.5	250937.5
	17	H60	3432	R	MADA-AUST	3051	3432	264687.5	251562.5
	17	H60	3432	R	MADA-AUST	3050	3432	264687.5	252187.5
	17	H60	3432	R	MADA-AUST	3037	3432	264687.5	252812.5
	17	H60	3432	R	MADA-AUST	3036	3432	264687.5	253437.5
	17	H60	3432	R	MADA-AUST	3035	3432	264687.5	254062.5
	17	H60	3432	R	MADA-AUST	3034	3432	264687.5	254687.5
	17	H60	3432	R	MADA-AUST	3074	3432	264687.5	255312.5
	17	H60	3432	R	MADA-AUST	3073	3432	264687.5	255937.5
	17	H60	3432	R	MADA-AUST	3072	3432	264687.5	256562.5
	17	H60	3432	R	MADA-AUST	3071	3432	264687.5	257187.5
	17	H60	3432	R	MADA-AUST	2892	3432	265312.5	220937.5
	17	H60	3432	R	MADA-AUST	2732	3432	265312.5	221562.5
	17	H60	3432	R	MADA-AUST	2945	3432	265312.5	222187.5
	17	H60	3432	R	MADA-AUST	2786	3432	265312.5	222812.5
	17	H60	3432	R	MADA-AUST	2771	3432	265312.5	223437.5
	17	H60	3432	R	MADA-AUST	2770	3432	265312.5	224062.5
	17	H60	3432	R	MADA-AUST	2769	3432	265312.5	224687.5
	17	H60	3432	R	MADA-AUST	2809	3432	265312.5	225312.5
	17	H60	3432	R	MADA-AUST	2808	3432	265312.5	225937.5
	17	H60	3432	R	MADA-AUST	2807	3432	265312.5	226562.5
	17	H60	3432	R	MADA-AUST	2806	3432	265312.5	227187.5
	17	H60	3432	R	MADA-AUST	2793	3432	265312.5	227812.5
	17	H60	3432	R	MADA-AUST	2792	3432	265312.5	228437.5
	17	H60	3432	R	MADA-AUST	2791	3432	265312.5	229062.5
	17	H60	3432	R	MADA-AUST	2790	3432	265312.5	229687.5
	17	H60	3432	R	MADA-AUST	2724	3432	265312.5	230312.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	2723	3432	265312.5	230937.5
	17	H60	3432	R	MADA-AUST	2722	3432	265312.5	231562.5
	17	H60	3432	R	MADA-AUST	2708	3432	265312.5	232187.5
	17	H60	3432	R	MADA-AUST	2746	3432	265312.5	232812.5
	17	H60	3432	R	MADA-AUST	2748	3432	265312.5	233437.5
	17	H60	3432	R	MADA-AUST	2721	3432	265312.5	234062.5
	17	H60	3432	R	MADA-AUST	2758	3432	265312.5	234687.5
	17	H60	3432	R	MADA-AUST	2745	3432	265312.5	235312.5
	17	H60	3432	R	MADA-AUST	2744	3432	265312.5	235937.5
	17	H60	3432	R	MADA-AUST	2743	3432	265312.5	236562.5
	17	H60	3432	R	MADA-AUST	2742	3432	265312.5	237187.5
	17	H60	3432	R	MADA-AUST	3282	3432	265312.5	237812.5
	17	H60	3432	R	MADA-AUST	3281	3432	265312.5	238437.5
	17	H60	3432	R	MADA-AUST	3266	3432	265312.5	239062.5
	17	H60	3432	R	MADA-AUST	3279	3432	265312.5	239687.5
	17	H60	3432	R	MADA-AUST	2889	3432	265312.5	255312.5
	17	H60	3432	R	MADA-AUST	2888	3432	265312.5	255937.5
	17	H60	3432	R	MADA-AUST	2887	3432	265312.5	256562.5
	17	H60	3432	R	MADA-AUST	2886	3432	265312.5	257187.5
	17	H60	3432	R	MADA-AUST	2873	3432	265312.5	257812.5
	17	H60	3432	R	MADA-AUST	2872	3432	265312.5	258437.5
	17	H60	3432	R	MADA-AUST	2871	3432	265312.5	259062.5
	17	H60	3432	R	MADA-AUST	2870	3432	265312.5	259687.5
	17	H60	3432	R	MADA-AUST	2911	3432	265312.5	260312.5
	17	H60	3432	R	MADA-AUST	2910	3432	265312.5	260937.5
	17	H60	3432	R	MADA-AUST	2909	3432	265312.5	261562.5
	17	H60	3432	R	MADA-AUST	2894	3432	265312.5	262187.5
	17	H60	3432	R	MADA-AUST	2783	3432	265937.5	220937.5
	17	H60	3432	R	MADA-AUST	2782	3432	265937.5	221562.5
	17	H60	3432	R	MADA-AUST	2781	3432	265937.5	222187.5
	17	H60	3432	R	MADA-AUST	2768	3432	265937.5	222812.5
	17	H60	3432	R	MADA-AUST	2767	3432	265937.5	223437.5
	17	H60	3432	R	MADA-AUST	2766	3432	265937.5	224062.5
	17	H60	3432	R	MADA-AUST	2765	3432	265937.5	224687.5
	17	H60	3432	R	MADA-AUST	2805	3432	265937.5	225312.5
	17	H60	3432	R	MADA-AUST	2804	3432	265937.5	225937.5
	17	H60	3432	R	MADA-AUST	2803	3432	265937.5	226562.5
	17	H60	3432	R	MADA-AUST	2802	3432	265937.5	227187.5
	17	H60	3432	R	MADA-AUST	2789	3432	265937.5	227812.5
	17	H60	3432	R	MADA-AUST	2788	3432	265937.5	228437.5
	17	H60	3432	R	MADA-AUST	2759	3432	265937.5	229062.5
	17	H60	3432	R	MADA-AUST	2719	3432	265937.5	229687.5
	17	H60	3432	R	MADA-AUST	2720	3432	265937.5	230312.5
	17	H60	3432	R	MADA-AUST	2733	3432	265937.5	230937.5
	17	H60	3432	R	MADA-AUST	2718	3432	265937.5	231562.5
	17	H60	3432	R	MADA-AUST	2717	3432	265937.5	232187.5
	17	H60	3432	R	MADA-AUST	2757	3432	265937.5	232812.5
	17	H60	3432	R	MADA-AUST	2756	3432	265937.5	233437.5
	17	H60	3432	R	MADA-AUST	2755	3432	265937.5	234062.5
	17	H60	3432	R	MADA-AUST	2754	3432	265937.5	234687.5
	17	H60	3432	R	MADA-AUST	2741	3432	265937.5	235312.5
	17	H60	3432	R	MADA-AUST	2740	3432	265937.5	235937.5
	17	H60	3432	R	MADA-AUST	2739	3432	265937.5	236562.5
	17	H60	3432	R	MADA-AUST	2738	3432	265937.5	237187.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3292	3432	265937.5	237812.5
	17	H60	3432	R	MADA-AUST	3277	3432	265937.5	238437.5
	17	H60	3432	R	MADA-AUST	3276	3432	265937.5	239062.5
	17	H60	3432	R	MADA-AUST	3275	3432	265937.5	239687.5
	17	H60	3432	R	MADA-AUST	2885	3432	265937.5	255312.5
	17	H60	3432	R	MADA-AUST	2884	3432	265937.5	255937.5
	17	H60	3432	R	MADA-AUST	2883	3432	265937.5	256562.5
	17	H60	3432	R	MADA-AUST	2882	3432	265937.5	257187.5
	17	H60	3432	R	MADA-AUST	2869	3432	265937.5	257812.5
	17	H60	3432	R	MADA-AUST	2906	3432	265937.5	258437.5
	17	H60	3432	R	MADA-AUST	2879	3432	265937.5	259062.5
	17	H60	3432	R	MADA-AUST	2881	3432	265937.5	259687.5
	17	H60	3432	R	MADA-AUST	2907	3432	265937.5	260312.5
	17	H60	3432	R	MADA-AUST	2920	3432	265937.5	260937.5
	17	H60	3432	R	MADA-AUST	2905	3432	265937.5	261562.5
	17	H60	3432	R	MADA-AUST	2904	3432	265937.5	262187.5
	17	H60	3432	R	MADA-AUST	2778	3432	266562.5	221562.5
	17	H60	3432	R	MADA-AUST	2777	3432	266562.5	222187.5
	17	H60	3432	R	MADA-AUST	2764	3432	266562.5	222812.5
	17	H60	3432	R	MADA-AUST	2763	3432	266562.5	223437.5
	17	H60	3432	R	MADA-AUST	2762	3432	266562.5	224062.5
	17	H60	3432	R	MADA-AUST	2799	3432	266562.5	224687.5
	17	H60	3432	R	MADA-AUST	2787	3432	266562.5	225312.5
	17	H60	3432	R	MADA-AUST	2800	3432	266562.5	225937.5
	17	H60	3432	R	MADA-AUST	2813	3432	266562.5	226562.5
	17	H60	3432	R	MADA-AUST	2798	3432	266562.5	227187.5
	17	H60	3432	R	MADA-AUST	2772	3432	266562.5	227812.5
	17	H60	3432	R	MADA-AUST	2731	3432	266562.5	228437.5
	17	H60	3432	R	MADA-AUST	2730	3432	266562.5	229062.5
	17	H60	3432	R	MADA-AUST	2729	3432	266562.5	229687.5
	17	H60	3432	R	MADA-AUST	2716	3432	266562.5	230312.5
	17	H60	3432	R	MADA-AUST	2715	3432	266562.5	230937.5
	17	H60	3432	R	MADA-AUST	2714	3432	266562.5	231562.5
	17	H60	3432	R	MADA-AUST	2713	3432	266562.5	232187.5
	17	H60	3432	R	MADA-AUST	2753	3432	266562.5	232812.5
	17	H60	3432	R	MADA-AUST	2752	3432	266562.5	233437.5
	17	H60	3432	R	MADA-AUST	2751	3432	266562.5	234062.5
	17	H60	3432	R	MADA-AUST	2750	3432	266562.5	234687.5
	17	H60	3432	R	MADA-AUST	2737	3432	266562.5	235312.5
	17	H60	3432	R	MADA-AUST	2736	3432	266562.5	235937.5
	17	H60	3432	R	MADA-AUST	2735	3432	266562.5	236562.5
	17	H60	3432	R	MADA-AUST	2825	3432	266562.5	237187.5
	17	H60	3432	R	MADA-AUST	3274	3432	266562.5	237812.5
	17	H60	3432	R	MADA-AUST	3273	3432	266562.5	238437.5
	17	H60	3432	R	MADA-AUST	3272	3432	266562.5	239062.5
	17	H60	3432	R	MADA-AUST	3271	3432	266562.5	239687.5
	17	H60	3432	R	MADA-AUST	2867	3432	266562.5	255312.5
	17	H60	3432	R	MADA-AUST	2880	3432	266562.5	255937.5
	17	H60	3432	R	MADA-AUST	2893	3432	266562.5	256562.5
	17	H60	3432	R	MADA-AUST	2878	3432	266562.5	257187.5
	17	H60	3432	R	MADA-AUST	2919	3432	266562.5	257812.5
	17	H60	3432	R	MADA-AUST	2918	3432	266562.5	258437.5
	17	H60	3432	R	MADA-AUST	2917	3432	266562.5	259062.5
	17	H60	3432	R	MADA-AUST	2916	3432	266562.5	259687.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	2903	3432	266562.5	260312.5
	17	H60	3432	R	MADA-AUST	2902	3432	266562.5	260937.5
	17	H60	3432	R	MADA-AUST	2901	3432	266562.5	261562.5
	17	H60	3432	R	MADA-AUST	2900	3432	266562.5	262187.5
	17	H60	3432	R	MADA-AUST	2773	3432	267187.5	222187.5
	17	H60	3432	R	MADA-AUST	2801	3432	267187.5	222812.5
	17	H60	3432	R	MADA-AUST	2774	3432	267187.5	223437.5
	17	H60	3432	R	MADA-AUST	2811	3432	267187.5	224062.5
	17	H60	3432	R	MADA-AUST	2810	3432	267187.5	224687.5
	17	H60	3432	R	MADA-AUST	2797	3432	267187.5	225312.5
	17	H60	3432	R	MADA-AUST	2796	3432	267187.5	225937.5
	17	H60	3432	R	MADA-AUST	2795	3432	267187.5	226562.5
	17	H60	3432	R	MADA-AUST	2794	3432	267187.5	227187.5
	17	H60	3432	R	MADA-AUST	2728	3432	267187.5	227812.5
	17	H60	3432	R	MADA-AUST	2727	3432	267187.5	228437.5
	17	H60	3432	R	MADA-AUST	2726	3432	267187.5	229062.5
	17	H60	3432	R	MADA-AUST	2725	3432	267187.5	229687.5
	17	H60	3432	R	MADA-AUST	2712	3432	267187.5	230312.5
	17	H60	3432	R	MADA-AUST	2711	3432	267187.5	230937.5
	17	H60	3432	R	MADA-AUST	2710	3432	267187.5	231562.5
	17	H60	3432	R	MADA-AUST	2709	3432	267187.5	232187.5
	17	H60	3432	R	MADA-AUST	2749	3432	267187.5	232812.5
	17	H60	3432	R	MADA-AUST	2734	3432	267187.5	233437.5
	17	H60	3432	R	MADA-AUST	2747	3432	267187.5	234062.5
	17	H60	3432	R	MADA-AUST	2760	3432	267187.5	234687.5
	17	H60	3432	R	MADA-AUST	2895	3432	267187.5	235312.5
	17	H60	3432	R	MADA-AUST	2812	3432	267187.5	235937.5
	17	H60	3432	R	MADA-AUST	2891	3432	267187.5	236562.5
	17	H60	3432	R	MADA-AUST	2890	3432	267187.5	237187.5
	17	H60	3432	R	MADA-AUST	3270	3432	267187.5	237812.5
	17	H60	3432	R	MADA-AUST	3269	3432	267187.5	238437.5
	17	H60	3432	R	MADA-AUST	3268	3432	267187.5	239062.5
	17	H60	3432	R	MADA-AUST	3267	3432	267187.5	239687.5
	17	H60	3432	R	MADA-AUST	2877	3432	267187.5	255312.5
	17	H60	3432	R	MADA-AUST	2876	3432	267187.5	255937.5
	17	H60	3432	R	MADA-AUST	2875	3432	267187.5	256562.5
	17	H60	3432	R	MADA-AUST	2874	3432	267187.5	257187.5
	17	H60	3432	R	MADA-AUST	2915	3432	267187.5	257812.5
	17	H60	3432	R	MADA-AUST	2914	3432	267187.5	258437.5
	17	H60	3432	R	MADA-AUST	2913	3432	267187.5	259062.5
	17	H60	3432	R	MADA-AUST	2912	3432	267187.5	259687.5
	17	H60	3432	R	MADA-AUST	2899	3432	267187.5	260312.5
	17	H60	3432	R	MADA-AUST	2898	3432	267187.5	260937.5
	17	H60	3432	R	MADA-AUST	2897	3432	267187.5	261562.5
	17	H60	3432	R	MADA-AUST	2896	3432	267187.5	262187.5
	17	H60	3432	R	MADA-AUST	2865	3432	267812.5	222812.5
	17	H60	3432	R	MADA-AUST	2908	3432	267812.5	223437.5
	17	H60	3432	R	MADA-AUST	2868	3432	267812.5	224062.5
	17	H60	3432	R	MADA-AUST	2838	3432	267812.5	224687.5
	17	H60	3432	R	MADA-AUST	2839	3432	267812.5	225312.5
	17	H60	3432	R	MADA-AUST	2824	3432	267812.5	225937.5
	17	H60	3432	R	MADA-AUST	2823	3432	267812.5	226562.5
	17	H60	3432	R	MADA-AUST	2822	3432	267812.5	227187.5
	17	H60	3432	R	MADA-AUST	2862	3432	267812.5	227812.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	2861	3432	267812.5	228437.5
	17	H60	3432	R	MADA-AUST	2860	3432	267812.5	229062.5
	17	H60	3432	R	MADA-AUST	2859	3432	267812.5	229687.5
	17	H60	3432	R	MADA-AUST	2846	3432	267812.5	230312.5
	17	H60	3432	R	MADA-AUST	2845	3432	267812.5	230937.5
	17	H60	3432	R	MADA-AUST	2844	3432	267812.5	231562.5
	17	H60	3432	R	MADA-AUST	2843	3432	267812.5	232187.5
	17	H60	3432	R	MADA-AUST	3416	3432	267812.5	232812.5
	17	H60	3432	R	MADA-AUST	3415	3432	267812.5	233437.5
	17	H60	3432	R	MADA-AUST	3414	3432	267812.5	234062.5
	17	H60	3432	R	MADA-AUST	3400	3432	267812.5	234687.5
	17	H60	3432	R	MADA-AUST	3438	3432	267812.5	235312.5
	17	H60	3432	R	MADA-AUST	3440	3432	267812.5	235937.5
	17	H60	3432	R	MADA-AUST	3413	3432	267812.5	236562.5
	17	H60	3432	R	MADA-AUST	3450	3432	267812.5	237187.5
	17	H60	3432	R	MADA-AUST	3437	3432	267812.5	237812.5
	17	H60	3432	R	MADA-AUST	3436	3432	267812.5	238437.5
	17	H60	3432	R	MADA-AUST	3435	3432	267812.5	239062.5
	17	H60	3432	R	MADA-AUST	3434	3432	267812.5	239687.5
	17	H60	3432	R	MADA-AUST	3352	3432	267812.5	260312.5
	17	H60	3432	R	MADA-AUST	3351	3432	267812.5	260937.5
	17	H60	3432	R	MADA-AUST	3350	3432	267812.5	261562.5
	17	H60	3432	R	MADA-AUST	3349	3432	267812.5	262187.5
	17	H60	3432	R	MADA-AUST	3389	3432	267812.5	262812.5
	17	H60	3432	R	MADA-AUST	3388	3432	267812.5	263437.5
	17	H60	3432	R	MADA-AUST	3373	3432	267812.5	264062.5
	17	H60	3432	R	MADA-AUST	3386	3432	267812.5	264687.5
	17	H60	3432	R	MADA-AUST	3464	3432	267812.5	265312.5
	17	H60	3432	R	MADA-AUST	3534	3432	267812.5	265937.5
	17	H60	3432	R	MADA-AUST	3451	3432	267812.5	266562.5
	17	H60	3432	R	MADA-AUST	3530	3432	267812.5	267187.5
	17	H60	3432	R	MADA-AUST	3348	3432	268437.5	260312.5
	17	H60	3432	R	MADA-AUST	3385	3432	268437.5	260937.5
	17	H60	3432	R	MADA-AUST	3387	3432	268437.5	261562.5
	17	H60	3432	R	MADA-AUST	3360	3432	268437.5	262187.5
	17	H60	3432	R	MADA-AUST	3399	3432	268437.5	262812.5
	17	H60	3432	R	MADA-AUST	3384	3432	268437.5	263437.5
	17	H60	3432	R	MADA-AUST	3383	3432	268437.5	264062.5
	17	H60	3432	R	MADA-AUST	3382	3432	268437.5	264687.5
	17	H60	3432	R	MADA-AUST	3529	3432	268437.5	265312.5
	17	H60	3432	R	MADA-AUST	3528	3432	268437.5	265937.5
	17	H60	3432	R	MADA-AUST	3527	3432	268437.5	266562.5
	17	H60	3432	R	MADA-AUST	3526	3432	268437.5	267187.5
	17	H60	3432	R	MADA-AUST	3397	3432	269062.5	260312.5
	17	H60	3432	R	MADA-AUST	3396	3432	269062.5	260937.5
	17	H60	3432	R	MADA-AUST	3395	3432	269062.5	261562.5
	17	H60	3432	R	MADA-AUST	3394	3432	269062.5	262187.5
	17	H60	3432	R	MADA-AUST	3381	3432	269062.5	262812.5
	17	H60	3432	R	MADA-AUST	3380	3432	269062.5	263437.5
	17	H60	3432	R	MADA-AUST	3379	3432	269062.5	264062.5
	17	H60	3432	R	MADA-AUST	3378	3432	269062.5	264687.5
	17	H60	3432	R	MADA-AUST	3525	3432	269062.5	265312.5
	17	H60	3432	R	MADA-AUST	3524	3432	269062.5	265937.5
	17	H60	3432	R	MADA-AUST	3523	3432	269062.5	266562.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3522	3432	269062.5	267187.5
	17	H60	3432	R	MADA-AUST	3393	3432	269687.5	260312.5
	17	H60	3432	R	MADA-AUST	3392	3432	269687.5	260937.5
	17	H60	3432	R	MADA-AUST	3391	3432	269687.5	261562.5
	17	H60	3432	R	MADA-AUST	3390	3432	269687.5	262187.5
	17	H60	3432	R	MADA-AUST	3377	3432	269687.5	262812.5
	17	H60	3432	R	MADA-AUST	3376	3432	269687.5	263437.5
	17	H60	3432	R	MADA-AUST	3375	3432	269687.5	264062.5
	17	H60	3432	R	MADA-AUST	3374	3432	269687.5	264687.5
	17	H60	3432	R	MADA-AUST	3521	3432	269687.5	265312.5
	17	H60	3432	R	MADA-AUST	3506	3432	269687.5	265937.5
	17	H60	3432	R	MADA-AUST	3519	3432	269687.5	266562.5
	17	H60	3432	R	MADA-AUST	3532	3432	269687.5	267187.5
	17	H60	3432	R	MADA-AUST	3192	3432	270312.5	255312.5
	17	H60	3432	R	MADA-AUST	3191	3432	270312.5	255937.5
	17	H60	3432	R	MADA-AUST	3190	3432	270312.5	256562.5
	17	H60	3432	R	MADA-AUST	3189	3432	270312.5	257187.5
	17	H60	3432	R	MADA-AUST	3229	3432	270312.5	257812.5
	17	H60	3432	R	MADA-AUST	3228	3432	270312.5	258437.5
	17	H60	3432	R	MADA-AUST	3213	3432	270312.5	259062.5
	17	H60	3432	R	MADA-AUST	3226	3432	270312.5	259687.5
	17	H60	3432	R	MADA-AUST	3185	3432	270312.5	260312.5
	17	H60	3432	R	MADA-AUST	3145	3432	270312.5	260937.5
	17	H60	3432	R	MADA-AUST	3198	3432	270312.5	261562.5
	17	H60	3432	R	MADA-AUST	3157	3432	270312.5	262187.5
	17	H60	3432	R	MADA-AUST	3144	3432	270312.5	262812.5
	17	H60	3432	R	MADA-AUST	3143	3432	270312.5	263437.5
	17	H60	3432	R	MADA-AUST	3142	3432	270312.5	264062.5
	17	H60	3432	R	MADA-AUST	3141	3432	270312.5	264687.5
	17	H60	3432	R	MADA-AUST	3181	3432	270312.5	265312.5
	17	H60	3432	R	MADA-AUST	3180	3432	270312.5	265937.5
	17	H60	3432	R	MADA-AUST	3179	3432	270312.5	266562.5
	17	H60	3432	R	MADA-AUST	3178	3432	270312.5	267187.5
	17	H60	3432	R	MADA-AUST	3165	3432	270312.5	267812.5
	17	H60	3432	R	MADA-AUST	3164	3432	270312.5	268437.5
	17	H60	3432	R	MADA-AUST	3163	3432	270312.5	269062.5
	17	H60	3432	R	MADA-AUST	3162	3432	270312.5	269687.5
	17	H60	3432	R	MADA-AUST	3188	3432	270937.5	255312.5
	17	H60	3432	R	MADA-AUST	3225	3432	270937.5	255937.5
	17	H60	3432	R	MADA-AUST	3227	3432	270937.5	256562.5
	17	H60	3432	R	MADA-AUST	3200	3432	270937.5	257187.5
	17	H60	3432	R	MADA-AUST	3239	3432	270937.5	257812.5
	17	H60	3432	R	MADA-AUST	3224	3432	270937.5	258437.5
	17	H60	3432	R	MADA-AUST	3223	3432	270937.5	259062.5
	17	H60	3432	R	MADA-AUST	3222	3432	270937.5	259687.5
	17	H60	3432	R	MADA-AUST	3156	3432	270937.5	260312.5
	17	H60	3432	R	MADA-AUST	3155	3432	270937.5	260937.5
	17	H60	3432	R	MADA-AUST	3154	3432	270937.5	261562.5
	17	H60	3432	R	MADA-AUST	3153	3432	270937.5	262187.5
	17	H60	3432	R	MADA-AUST	3140	3432	270937.5	262812.5
	17	H60	3432	R	MADA-AUST	3139	3432	270937.5	263437.5
	17	H60	3432	R	MADA-AUST	3138	3432	270937.5	264062.5
	17	H60	3432	R	MADA-AUST	3137	3432	270937.5	264687.5
	17	H60	3432	R	MADA-AUST	3177	3432	270937.5	265312.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3176	3432	270937.5	265937.5
	17	H60	3432	R	MADA-AUST	3175	3432	270937.5	266562.5
	17	H60	3432	R	MADA-AUST	3160	3432	270937.5	267187.5
	17	H60	3432	R	MADA-AUST	3161	3432	270937.5	267812.5
	17	H60	3432	R	MADA-AUST	3251	3432	270937.5	268437.5
	17	H60	3432	R	MADA-AUST	3321	3432	270937.5	269062.5
	17	H60	3432	R	MADA-AUST	3238	3432	270937.5	269687.5
	17	H60	3432	R	MADA-AUST	3237	3432	271562.5	255312.5
	17	H60	3432	R	MADA-AUST	3236	3432	271562.5	255937.5
	17	H60	3432	R	MADA-AUST	3235	3432	271562.5	256562.5
	17	H60	3432	R	MADA-AUST	3234	3432	271562.5	257187.5
	17	H60	3432	R	MADA-AUST	3221	3432	271562.5	257812.5
	17	H60	3432	R	MADA-AUST	3220	3432	271562.5	258437.5
	17	H60	3432	R	MADA-AUST	3219	3432	271562.5	259062.5
	17	H60	3432	R	MADA-AUST	3218	3432	271562.5	259687.5
	17	H60	3432	R	MADA-AUST	3152	3432	271562.5	260312.5
	17	H60	3432	R	MADA-AUST	3151	3432	271562.5	260937.5
	17	H60	3432	R	MADA-AUST	3150	3432	271562.5	261562.5
	17	H60	3432	R	MADA-AUST	3149	3432	271562.5	262187.5
	17	H60	3432	R	MADA-AUST	3136	3432	271562.5	262812.5
	17	H60	3432	R	MADA-AUST	3135	3432	271562.5	263437.5
	17	H60	3432	R	MADA-AUST	3172	3432	271562.5	264062.5
	17	H60	3432	R	MADA-AUST	3174	3432	271562.5	264687.5
	17	H60	3432	R	MADA-AUST	3173	3432	271562.5	265312.5
	17	H60	3432	R	MADA-AUST	3186	3432	271562.5	265937.5
	17	H60	3432	R	MADA-AUST	3171	3432	271562.5	266562.5
	17	H60	3432	R	MADA-AUST	3170	3432	271562.5	267187.5
	17	H60	3432	R	MADA-AUST	3317	3432	271562.5	267812.5
	17	H60	3432	R	MADA-AUST	3316	3432	271562.5	268437.5
	17	H60	3432	R	MADA-AUST	3315	3432	271562.5	269062.5
	17	H60	3432	R	MADA-AUST	3314	3432	271562.5	269687.5
	17	H60	3432	R	MADA-AUST	3233	3432	272187.5	255312.5
	17	H60	3432	R	MADA-AUST	3232	3432	272187.5	255937.5
	17	H60	3432	R	MADA-AUST	3231	3432	272187.5	256562.5
	17	H60	3432	R	MADA-AUST	3230	3432	272187.5	257187.5
	17	H60	3432	R	MADA-AUST	3217	3432	272187.5	257812.5
	17	H60	3432	R	MADA-AUST	3216	3432	272187.5	258437.5
	17	H60	3432	R	MADA-AUST	3215	3432	272187.5	259062.5
	17	H60	3432	R	MADA-AUST	3214	3432	272187.5	259687.5
	17	H60	3432	R	MADA-AUST	3148	3432	272187.5	260312.5
	17	H60	3432	R	MADA-AUST	3134	3432	272187.5	260937.5
	17	H60	3432	R	MADA-AUST	3146	3432	272187.5	261562.5
	17	H60	3432	R	MADA-AUST	3159	3432	272187.5	262187.5
	17	H60	3432	R	MADA-AUST	3147	3432	272187.5	262812.5
	17	H60	3432	R	MADA-AUST	3184	3432	272187.5	263437.5
	17	H60	3432	R	MADA-AUST	3183	3432	272187.5	264062.5
	17	H60	3432	R	MADA-AUST	3182	3432	272187.5	264687.5
	17	H60	3432	R	MADA-AUST	3169	3432	272187.5	265312.5
	17	H60	3432	R	MADA-AUST	3168	3432	272187.5	265937.5
	17	H60	3432	R	MADA-AUST	3167	3432	272187.5	266562.5
	17	H60	3432	R	MADA-AUST	3166	3432	272187.5	267187.5
	17	H60	3432	R	MADA-AUST	3313	3432	272187.5	267812.5
	17	H60	3432	R	MADA-AUST	3312	3432	272187.5	268437.5
	17	H60	3432	R	MADA-AUST	3311	3432	272187.5	269062.5




    	 	 	 



    	 	 	 



    




	17	H60	3432	R	MADA-AUST	3176	3432	270937.5	265937.5
	17	H60	3432	R	MADA-AUST	3175	3432	270937.5	266562.5
	17	H60	3432	R	MADA-AUST	3160	3432	270937.5	267187.5
	17	H60	3432	R	MADA-AUST	3161	3432	270937.5	267812.5
	17	H60	3432	R	MADA-AUST	3251	3432	270937.5	268437.5
	17	H60	3432	R	MADA-AUST	3321	3432	270937.5	269062.5
	17	H60	3432	R	MADA-AUST	3238	3432	270937.5	269687.5
	17	H60	3432	R	MADA-AUST	3237	3432	271562.5	255312.5
	17	H60	3432	R	MADA-AUST	3236	3432	271562.5	255937.5
	17	H60	3432	R	MADA-AUST	3235	3432	271562.5	256562.5
	17	H60	3432	R	MADA-AUST	3234	3432	271562.5	257187.5
	17	H60	3432	R	MADA-AUST	3221	3432	271562.5	257812.5
	17	H60	3432	R	MADA-AUST	3220	3432	271562.5	258437.5
	17	H60	3432	R	MADA-AUST	3219	3432	271562.5	259062.5
	17	H60	3432	R	MADA-AUST	3218	3432	271562.5	259687.5
	17	H60	3432	R	MADA-AUST	3152	3432	271562.5	260312.5
	17	H60	3432	R	MADA-AUST	3151	3432	271562.5	260937.5
	17	H60	3432	R	MADA-AUST	3150	3432	271562.5	261562.5
	17	H60	3432	R	MADA-AUST	3149	3432	271562.5	262187.5
	17	H60	3432	R	MADA-AUST	3136	3432	271562.5	262812.5
	17	H60	3432	R	MADA-AUST	3135	3432	271562.5	263437.5
	17	H60	3432	R	MADA-AUST	3172	3432	271562.5	264062.5
	17	H60	3432	R	MADA-AUST	3174	3432	271562.5	264687.5
	17	H60	3432	R	MADA-AUST	3173	3432	271562.5	265312.5
	17	H60	3432	R	MADA-AUST	3186	3432	271562.5	265937.5
	17	H60	3432	R	MADA-AUST	3171	3432	271562.5	266562.5
	17	H60	3432	R	MADA-AUST	3170	3432	271562.5	267187.5
	17	H60	3432	R	MADA-AUST	3317	3432	271562.5	267812.5
	17	H60	3432	R	MADA-AUST	3316	3432	271562.5	268437.5
	17	H60	3432	R	MADA-AUST	3315	3432	271562.5	269062.5
	17	H60	3432	R	MADA-AUST	3314	3432	271562.5	269687.5
	17	H60	3432	R	MADA-AUST	3233	3432	272187.5	255312.5
	17	H60	3432	R	MADA-AUST	3232	3432	272187.5	255937.5
	17	H60	3432	R	MADA-AUST	3231	3432	272187.5	256562.5
	17	H60	3432	R	MADA-AUST	3230	3432	272187.5	257187.5
	17	H60	3432	R	MADA-AUST	3217	3432	272187.5	257812.5
	17	H60	3432	R	MADA-AUST	3216	3432	272187.5	258437.5
	17	H60	3432	R	MADA-AUST	3215	3432	272187.5	259062.5
	17	H60	3432	R	MADA-AUST	3214	3432	272187.5	259687.5
	17	H60	3432	R	MADA-AUST	3148	3432	272187.5	260312.5
	17	H60	3432	R	MADA-AUST	3134	3432	272187.5	260937.5
	17	H60	3432	R	MADA-AUST	3146	3432	272187.5	261562.5
	17	H60	3432	R	MADA-AUST	3159	3432	272187.5	262187.5
	17	H60	3432	R	MADA-AUST	3147	3432	272187.5	262812.5
	17	H60	3432	R	MADA-AUST	3184	3432	272187.5	263437.5
	17	H60	3432	R	MADA-AUST	3183	3432	272187.5	264062.5
	17	H60	3432	R	MADA-AUST	3182	3432	272187.5	264687.5
	17	H60	3432	R	MADA-AUST	3169	3432	272187.5	265312.5
	17	H60	3432	R	MADA-AUST	3168	3432	272187.5	265937.5
	17	H60	3432	R	MADA-AUST	3167	3432	272187.5	266562.5
	17	H60	3432	R	MADA-AUST	3166	3432	272187.5	267187.5
	17	H60	3432	R	MADA-AUST	3313	3432	272187.5	267812.5
	17	H60	3432	R	MADA-AUST	3312	3432	272187.5	268437.5
	17	H60	3432	R	MADA-AUST	3311	3432	272187.5	269062.5




     

    














  




      

    

 


	17	H60	3432	R	MADA-AUST	3310	3432	272187.5	269687.5
	462	H59	38325	R	MADA-AUST	28645	38325	272812.5	255312.5
	462	H59	38325	R	MADA-AUST	28661	38325	272812.5	255937.5
	462	H59	38325	R	MADA-AUST	28666	38325	272812.5	256562.5
	462	H59	38325	R	MADA-AUST	28665	38325	272812.5	257187.5
	102	H59	14623	R	MADA-AUST	12191	14623	272812.5	257812.5
	102	H59	14623	R	MADA-AUST	12195	14623	272812.5	258437.5
	102	H59	14623	R	MADA-AUST	12196	14623	272812.5	259062.5
	102	H59	14623	R	MADA-AUST	12197	14623	272812.5	259687.5
	102	H59	14623	R	MADA-AUST	12175	14623	272812.5	260312.5
	102	H59	14623	R	MADA-AUST	12182	14623	272812.5	260937.5
	102	H59	14623	R	MADA-AUST	12190	14623	272812.5	261562.5
	102	H59	14623	R	MADA-AUST	12180	14623	272812.5	262187.5
	17	H60	3432	R	MADA-AUST	3331	3432	272812.5	262812.5
	17	H60	3432	R	MADA-AUST	3330	3432	272812.5	263437.5
	17	H60	3432	R	MADA-AUST	3329	3432	272812.5	264062.5
	17	H60	3432	R	MADA-AUST	3328	3432	272812.5	264687.5
	17	H60	3432	R	MADA-AUST	3261	3432	272812.5	265312.5
	17	H60	3432	R	MADA-AUST	3260	3432	272812.5	265937.5
	17	H60	3432	R	MADA-AUST	3259	3432	272812.5	266562.5
	17	H60	3432	R	MADA-AUST	3258	3432	272812.5	267187.5
	17	H60	3432	R	MADA-AUST	3245	3432	272812.5	267812.5
	17	H60	3432	R	MADA-AUST	3244	3432	272812.5	268437.5
	17	H60	3432	R	MADA-AUST	3243	3432	272812.5	269062.5
	17	H60	3432	R	MADA-AUST	3242	3432	272812.5	269687.5
	462	H59	38325	R	MADA-AUST	28650	38325	273437.5	255312.5
	462	H59	38325	R	MADA-AUST	28626	38325	273437.5	255937.5
	462	H59	38325	R	MADA-AUST	28628	38325	273437.5	256562.5
	462	H59	38325	R	MADA-AUST	28629	38325	273437.5	257187.5
	102	H59	14623	R	MADA-AUST	12198	14623	273437.5	257812.5
	102	H59	14623	R	MADA-AUST	12199	14623	273437.5	258437.5
	102	H59	14623	R	MADA-AUST	12206	14623	273437.5	259062.5
	102	H59	14623	R	MADA-AUST	12202	14623	273437.5	259687.5
	102	H59	14623	R	MADA-AUST	12179	14623	273437.5	260312.5
	102	H59	14623	R	MADA-AUST	12176	14623	273437.5	260937.5
	102	H59	14623	R	MADA-AUST	12177	14623	273437.5	261562.5
	102	H59	14623	R	MADA-AUST	12184	14623	273437.5	262187.5
	17	H60	3432	R	MADA-AUST	3327	3432	273437.5	262812.5
	17	H60	3432	R	MADA-AUST	3326	3432	273437.5	263437.5
	17	H60	3432	R	MADA-AUST	3325	3432	273437.5	264062.5
	17	H60	3432	R	MADA-AUST	3324	3432	273437.5	264687.5
	17	H60	3432	R	MADA-AUST	3257	3432	273437.5	265312.5
	17	H60	3432	R	MADA-AUST	3256	3432	273437.5	265937.5
	17	H60	3432	R	MADA-AUST	3255	3432	273437.5	266562.5
	17	H60	3432	R	MADA-AUST	3254	3432	273437.5	267187.5
	17	H60	3432	R	MADA-AUST	3241	3432	273437.5	267812.5
	17	H60	3432	R	MADA-AUST	3278	3432	273437.5	268437.5
	17	H60	3432	R	MADA-AUST	3280	3432	273437.5	269062.5
	17	H60	3432	R	MADA-AUST	3253	3432	273437.5	269687.5
	462	H59	38325	R	MADA-AUST	28615	38325	274062.5	255312.5
	462	H59	38325	R	MADA-AUST	28644	38325	274062.5	255937.5
	462	H59	38325	R	MADA-AUST	28656	38325	274062.5	256562.5
	462	H59	38325	R	MADA-AUST	28649	38325	274062.5	257187.5
	102	H59	14623	R	MADA-AUST	12203	14623	274062.5	257812.5




     

    


 











  




      

    

 


	102	H59	14623	R	MADA-AUST	12204	14623	274062.5	258437.5
	102	H59	14623	R	MADA-AUST	12205	14623	274062.5	259062.5
	102	H59	14623	R	MADA-AUST	12200	14623	274062.5	259687.5
	102	H59	14623	R	MADA-AUST	12185	14623	274062.5	260312.5
	102	H59	14623	R	MADA-AUST	12186	14623	274062.5	260937.5
	102	H59	14623	R	MADA-AUST	12187	14623	274062.5	261562.5
	102	H59	14623	R	MADA-AUST	12188	14623	274062.5	262187.5
	17	H60	3432	R	MADA-AUST	3323	3432	274062.5	262812.5
	17	H60	3432	R	MADA-AUST	3322	3432	274062.5	263437.5
	17	H60	3432	R	MADA-AUST	3291	3432	274062.5	264062.5
	17	H60	3432	R	MADA-AUST	3334	3432	274062.5	264687.5
	17	H60	3432	R	MADA-AUST	3240	3432	274062.5	265312.5
	17	H60	3432	R	MADA-AUST	3252	3432	274062.5	265937.5
	17	H60	3432	R	MADA-AUST	3265	3432	274062.5	266562.5
	17	H60	3432	R	MADA-AUST	3250	3432	274062.5	267187.5
	17	H60	3432	R	MADA-AUST	3290	3432	274062.5	267812.5
	17	H60	3432	R	MADA-AUST	3289	3432	274062.5	268437.5
	17	H60	3432	R	MADA-AUST	3288	3432	274062.5	269062.5
	17	H60	3432	R	MADA-AUST	3287	3432	274062.5	269687.5
	462	H59	38325	R	MADA-AUST	28648	38325	274687.5	255312.5
	462	H59	38325	R	MADA-AUST	28647	38325	274687.5	255937.5
	462	H59	38325	R	MADA-AUST	28646	38325	274687.5	256562.5
	462	H59	38325	R	MADA-AUST	28606	38325	274687.5	257187.5
	102	H59	14623	R	MADA-AUST	12201	14623	274687.5	257812.5
	102	H59	14623	R	MADA-AUST	12207	14623	274687.5	258437.5
	102	H59	14623	R	MADA-AUST	12193	14623	274687.5	259062.5
	102	H59	14623	R	MADA-AUST	12160	14623	274687.5	259687.5
	102	H59	14623	R	MADA-AUST	12189	14623	274687.5	260312.5
	102	H59	14623	R	MADA-AUST	12167	14623	274687.5	260937.5
	102	H59	14623	R	MADA-AUST	12165	14623	274687.5	261562.5
	102	H59	14623	R	MADA-AUST	12181	14623	274687.5	262187.5
	17	H60	3432	R	MADA-AUST	3294	3432	274687.5	262812.5
	17	H60	3432	R	MADA-AUST	3264	3432	274687.5	263437.5
	17	H60	3432	R	MADA-AUST	3263	3432	274687.5	264062.5
	17	H60	3432	R	MADA-AUST	3262	3432	274687.5	264687.5
	17	H60	3432	R	MADA-AUST	3249	3432	274687.5	265312.5
	17	H60	3432	R	MADA-AUST	3248	3432	274687.5	265937.5
	17	H60	3432	R	MADA-AUST	3247	3432	274687.5	266562.5
	17	H60	3432	R	MADA-AUST	3246	3432	274687.5	267187.5
	17	H60	3432	R	MADA-AUST	3286	3432	274687.5	267812.5
	17	H60	3432	R	MADA-AUST	3285	3432	274687.5	268437.5
	17	H60	3432	R	MADA-AUST	3284	3432	274687.5	269062.5
	17	H60	3432	R	MADA-AUST	3283	3432	274687.5	269687.5
	462	H59	38325	R	MADA-AUST	28608	38325	275312.5	247812.5
	462	H59	38325	R	MADA-AUST	28617	38325	275312.5	248437.5
	462	H59	38325	R	MADA-AUST	28616	38325	275312.5	249062.5
	462	H59	38325	R	MADA-AUST	28618	38325	275312.5	249687.5
	462	H59	38325	R	MADA-AUST	28593	38325	275312.5	250312.5
	462	H59	38325	R	MADA-AUST	28594	38325	275312.5	250937.5
	462	H59	38325	R	MADA-AUST	28595	38325	275312.5	251562.5
	462	H59	38325	R	MADA-AUST	28587	38325	275312.5	252187.5
	462	H59	38325	R	MADA-AUST	28635	38325	275312.5	252812.5
	462	H59	38325	R	MADA-AUST	28659	38325	275312.5	253437.5
	462	H59	38325	R	MADA-AUST	28637	38325	275312.5	254062.5




     

    














  




      

    

 


	462	H59	38325	R	MADA-AUST	28651	38325	275312.5	254687.5
	462	H59	38325	R	MADA-AUST	28603	38325	275312.5	255312.5
	462	H59	38325	R	MADA-AUST	28602	38325	275312.5	255937.5
	462	H59	38325	R	MADA-AUST	28601	38325	275312.5	256562.5
	462	H59	38325	R	MADA-AUST	28600	38325	275312.5	257187.5
	102	H59	14623	R	MADA-AUST	12161	14623	275312.5	257812.5
	102	H59	14623	R	MADA-AUST	12162	14623	275312.5	258437.5
	102	H59	14623	R	MADA-AUST	12163	14623	275312.5	259062.5
	102	H59	14623	R	MADA-AUST	12164	14623	275312.5	259687.5
	102	H59	14623	R	MADA-AUST	12111	14623	275312.5	260312.5
	102	H59	14623	R	MADA-AUST	12112	14623	275312.5	260937.5
	102	H59	14623	R	MADA-AUST	12113	14623	275312.5	261562.5
	102	H59	14623	R	MADA-AUST	12107	14623	275312.5	262187.5
	462	H59	38325	R	MADA-AUST	28627	38325	275937.5	247812.5
	462	H59	38325	R	MADA-AUST	28630	38325	275937.5	248437.5
	462	H59	38325	R	MADA-AUST	28596	38325	275937.5	249062.5
	462	H59	38325	R	MADA-AUST	28609	38325	275937.5	249687.5
	462	H59	38325	R	MADA-AUST	28652	38325	275937.5	250312.5
	462	H59	38325	R	MADA-AUST	28653	38325	275937.5	250937.5
	462	H59	38325	R	MADA-AUST	28619	38325	275937.5	251562.5
	462	H59	38325	R	MADA-AUST	28607	38325	275937.5	252187.5
	462	H59	38325	R	MADA-AUST	28631	38325	275937.5	252812.5
	462	H59	38325	R	MADA-AUST	28621	38325	275937.5	253437.5
	462	H59	38325	R	MADA-AUST	28622	38325	275937.5	254062.5
	462	H59	38325	R	MADA-AUST	28623	38325	275937.5	254687.5
	462	H59	38325	R	MADA-AUST	28638	38325	275937.5	255312.5
	462	H59	38325	R	MADA-AUST	28598	38325	275937.5	255937.5
	462	H59	38325	R	MADA-AUST	28614	38325	275937.5	256562.5
	462	H59	38325	R	MADA-AUST	28632	38325	275937.5	257187.5
	102	H59	14623	R	MADA-AUST	12192	14623	275937.5	257812.5
	102	H59	14623	R	MADA-AUST	12174	14623	275937.5	258437.5
	102	H59	14623	R	MADA-AUST	12183	14623	275937.5	259062.5
	102	H59	14623	R	MADA-AUST	12166	14623	275937.5	259687.5
	102	H59	14623	R	MADA-AUST	12115	14623	275937.5	260312.5
	102	H59	14623	R	MADA-AUST	12117	14623	275937.5	260937.5
	102	H59	14623	R	MADA-AUST	12126	14623	275937.5	261562.5
	102	H59	14623	R	MADA-AUST	12118	14623	275937.5	262187.5
	462	H59	38325	R	MADA-AUST	28610	38325	276562.5	247812.5
	462	H59	38325	R	MADA-AUST	28611	38325	276562.5	248437.5
	462	H59	38325	R	MADA-AUST	28612	38325	276562.5	249062.5
	462	H59	38325	R	MADA-AUST	28613	38325	276562.5	249687.5
	462	H59	38325	R	MADA-AUST	28654	38325	276562.5	250312.5
	462	H59	38325	R	MADA-AUST	28636	38325	276562.5	250937.5
	462	H59	38325	R	MADA-AUST	28589	38325	276562.5	251562.5
	462	H59	38325	R	MADA-AUST	28590	38325	276562.5	252187.5
	462	H59	38325	R	MADA-AUST	28633	38325	276562.5	252812.5
	462	H59	38325	R	MADA-AUST	28624	38325	276562.5	253437.5
	462	H59	38325	R	MADA-AUST	28634	38325	276562.5	254062.5
	462	H59	38325	R	MADA-AUST	28597	38325	276562.5	254687.5
	462	H59	38325	R	MADA-AUST	28620	38325	276562.5	255312.5
	462	H59	38325	R	MADA-AUST	28625	38325	276562.5	255937.5
	462	H59	38325	R	MADA-AUST	28643	38325	276562.5	256562.5
	462	H59	38325	R	MADA-AUST	28642	38325	276562.5	257187.5
	102	H59	14623	R	MADA-AUST	12159	14623	276562.5	257812.5




     

    


 











  




      

    

 


	102	H59	14623	R	MADA-AUST	12168	14623	276562.5	258437.5
	102	H59	14623	R	MADA-AUST	12169	14623	276562.5	259062.5
	102	H59	14623	R	MADA-AUST	12170	14623	276562.5	259687.5
	102	H59	14623	R	MADA-AUST	12110	14623	276562.5	260312.5
	102	H59	14623	R	MADA-AUST	12154	14623	276562.5	260937.5
	102	H59	14623	R	MADA-AUST	12120	14623	276562.5	261562.5
	102	H59	14623	R	MADA-AUST	12178	14623	276562.5	262187.5
	462	H59	38325	R	MADA-AUST	28655	38325	277187.5	247812.5
	462	H59	38325	R	MADA-AUST	28591	38325	277187.5	248437.5
	462	H59	38325	R	MADA-AUST	28588	38325	277187.5	249062.5
	462	H59	38325	R	MADA-AUST	28592	38325	277187.5	249687.5
	462	H59	38325	R	MADA-AUST	28664	38325	277187.5	250312.5
	462	H59	38325	R	MADA-AUST	28663	38325	277187.5	250937.5
	462	H59	38325	R	MADA-AUST	28662	38325	277187.5	251562.5
	462	H59	38325	R	MADA-AUST	28657	38325	277187.5	252187.5
	462	H59	38325	R	MADA-AUST	28599	38325	277187.5	252812.5
	462	H59	38325	R	MADA-AUST	28660	38325	277187.5	253437.5
	462	H59	38325	R	MADA-AUST	28605	38325	277187.5	254062.5
	462	H59	38325	R	MADA-AUST	28604	38325	277187.5	254687.5
	462	H59	38325	R	MADA-AUST	28641	38325	277187.5	255312.5
	462	H59	38325	R	MADA-AUST	28640	38325	277187.5	255937.5
	462	H59	38325	R	MADA-AUST	28639	38325	277187.5	256562.5
	462	H59	38325	R	MADA-AUST	28658	38325	277187.5	257187.5
	102	H59	14623	R	MADA-AUST	12171	14623	277187.5	257812.5
	102	H59	14623	R	MADA-AUST	12172	14623	277187.5	258437.5
	102	H59	14623	R	MADA-AUST	12173	14623	277187.5	259062.5
	102	H59	14623	R	MADA-AUST	12152	14623	277187.5	259687.5
	102	H59	14623	R	MADA-AUST	12121	14623	277187.5	260312.5
	102	H59	14623	R	MADA-AUST	12122	14623	277187.5	260937.5
	102	H59	14623	R	MADA-AUST	12123	14623	277187.5	261562.5
	102	H59	14623	R	MADA-AUST	12124	14623	277187.5	262187.5
	102	H59	14623	R	MADA-AUST	12097	14623	277812.5	257187.5
	102	H59	14623	R	MADA-AUST	12151	14623	277812.5	257812.5
	102	H59	14623	R	MADA-AUST	12144	14623	277812.5	258437.5
	102	H59	14623	R	MADA-AUST	12145	14623	277812.5	259062.5
	102	H59	14623	R	MADA-AUST	12146	14623	277812.5	259687.5
	102	H59	14623	R	MADA-AUST	12133	14623	277812.5	260312.5
	102	H59	14623	R	MADA-AUST	12149	14623	277812.5	260937.5
	102	H59	14623	R	MADA-AUST	12129	14623	277812.5	261562.5
	102	H59	14623	R	MADA-AUST	12130	14623	277812.5	262187.5
	379	G61	31735	R	ENERGEX	24774	31735	232812.5	172812.5
	379	G61	31735	R	ENERGEX	24775	31735	232812.5	173437.5
	379	G61	31735	R	ENERGEX	24776	31735	232812.5	174062.5
	379	G61	31735	R	ENERGEX	24783	31735	232812.5	174687.5
	379	G61	31735	R	ENERGEX	24771	31735	233437.5	172812.5
	379	G61	31735	R	ENERGEX	24769	31735	233437.5	173437.5
	379	G61	31735	R	ENERGEX	24784	31735	233437.5	174062.5
	379	G61	31735	R	ENERGEX	24779	31735	233437.5	174687.5
	379	G61	31735	R	ENERGEX	24780	31735	234062.5	172812.5
	379	G61	31735	R	ENERGEX	24782	31735	234062.5	173437.5
	379	G61	31735	R	ENERGEX	24773	31735	234062.5	174062.5
	379	G61	31735	R	ENERGEX	24781	31735	234062.5	174687.5
	379	G61	31735	R	ENERGEX	24778	31735	234687.5	172812.5
	379	G61	31735	R	ENERGEX	24777	31735	234687.5	173437.5




     

    


 











  




      

    

 


	379	G61	31735	R	ENERGEX	24770	31735	234687.5	174062.5
	379	G61	31735	R	ENERGEX	24772	31735	234687.5	174687.5
	378	G61	31734	R	ENERGEX	24765	31734	237812.5	185312.5
	378	G61	31734	R	ENERGEX	24764	31734	237812.5	185937.5
	378	G61	31734	R	ENERGEX	24763	31734	237812.5	186562.5
	378	G61	31734	R	ENERGEX	24767	31734	237812.5	187187.5
	378	G61	31734	R	ENERGEX	24762	31734	238437.5	185312.5
	378	G61	31734	R	ENERGEX	24761	31734	238437.5	185937.5
	378	G61	31734	R	ENERGEX	24753	31734	238437.5	186562.5
	378	G61	31734	R	ENERGEX	24760	31734	238437.5	187187.5
	378	G61	31734	R	ENERGEX	24768	31734	239062.5	185312.5
	378	G61	31734	R	ENERGEX	24759	31734	239062.5	185937.5
	378	G61	31734	R	ENERGEX	24755	31734	239062.5	186562.5
	378	G61	31734	R	ENERGEX	24754	31734	239062.5	187187.5
	378	G61	31734	R	ENERGEX	24766	31734	239687.5	185312.5
	378	G61	31734	R	ENERGEX	24756	31734	239687.5	185937.5
	378	G61	31734	R	ENERGEX	24757	31734	239687.5	186562.5
	378	G61	31734	R	ENERGEX	24758	31734	239687.5	187187.5


 


 


 




     

    


 











  




      

    

 


Joint
Venture Agreement


 


 


 


 


Annexure
B- Form of
Mazoto Sublease Agreement


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 



    














  




      

     

    

 


 


 


 


MINING SUBLEASE
AGREEMENT


 


 


 


Between
:


 


 


 


Mazoto
Minerals SARL,
a limited
liability
company
with
share
capital of
2.000.000,00
Ariary,
the head office
of which is
located at 135
Bis,
Route
circulaire,
Ankorahotra,
101 Antananarivo,
Madagascar,
registered
at the Trade
and Company
Register
of Antananarivo
under number


2006B01026,
holding
the Statistical
Number 14398
11 2006 0 10926
and the
Tax
Registration Number 3000007377,
represented by Mr Jean
Luc Marquetoux
in his quality
as Manager
of the Company,
having all
powers in
that respect,


 


(Herein after
called «Mazoto»)
on the
one hand,
And,


ERG
(Madagascar)
Ltd,
a limited liability
company  with
a capital
of 2.000.000,00
Ariary,
the head
office
of which
is located
at Pres
lot 001
A Bis, Andranomena-Antehiroka,
Antananarivo
101, Madagascar,
registered
at the
Trade
and
Company
Register
under
Number  
, holding the Statistical Number
   and
the Tax
Registration
Number
  , represented by Mr
Roland
Fok-Seung
in his
quality
as Manager
of the
Company, having all
powers in
that respect,


 


 


 


(Herein
after called
« ERG») 
on the
other hand


 


 


 


 


PREAMBLE


 


 


 


(A)
Mazoto
is the
holder
of mining
permit
number <insert>
(herein after
“the Permit”)


relating on
a total
of  squares.


 


		(B)	Mazoto
envisages
conceding
to the
benefit of
ERG, the rights
for exploring Minerals
as defined in
Article
one below.



 


		(C)	Therefore,
Mazoto
and ERG
decided
to set
the terms
and of
their respective
agreement
and commitment as
follows.





     

     

    

 


Article
1. DEFINITIONS
AND INTERPRETATION


 


1.1
Definitions


 


In
the present
Agreement, unless
the context
otherwise
requires:


 


-« Ar
» refers to
Ariary, a
currency
of the
Republic of Madagascar;


 


		-	« Claim
» refers to
a mineral
claim such
as defined
by the mining
legislation in
Madagascar, and
as being part of
the area demarcated
by a permit;



 


-« Industrial
Mineral Rights
» means
all Mineral
Rights with
respect
to the
Minerals.


 


		-	« Minerals
»  or  «
Industrial  Minerals
»  refers
 to  the 
minerals  listed  in 
Annex  A 
and  the research
and/or exploitation
of which is
authorized
within the
Permit Area from
time to time;



 


		-	« Mineral
Rights »
means
the right to
explore for
and mine minerals
within the
Permit Area
in accordance
with
the Permit.



 


-« Other
Minerals
» means
all other
minerals other
than Minerals.


 


		-	« Other
Mineral Rights
» means all
Mineral
Rights
other than
the Industrial
Mineral
Rights
in respect
of the
Permit.



 


-« Permit
» means mining
permit
number <insert>;


 


-« Permit
Area» means
the area
of the
Permit described
in Annex
B;


 


-« Party
» refers to
any of the
parties
to the present
Agreement;
and


 


-« Term
» has
the meaning
given
to that term
in Article
11 of this
Sublease
Agreement.


 


 


 


The
word
forms
issued
from
a word
or an
expression
as defined
in the present
clause shall
have the same
meaning as the
above mentioned
ones.


 


1.2.
Interpretation


 


In the
interpretation of
the present
Agreement,
except for
contradiction
with the
subject matter
or the
context,




     

     

    

 















  




 


 


(a)
Titles
are
given in the
present
Agreement only
for convenience
and they
in no
case must be used
for interpreting
the latter;


 


(b)
Any  reference  to 
the preamble,  to the clauses,
 indentation,
 paragraphs,
 annexes
 are references
to the
preamble, the
clauses, the
indentations, the
paragraphs and annexes
of the present
Agreement;


 


(c)
« including
» and similar
expressions are
not restrictive
words.


 


The Parties
acknowledge and
agree that
this Sublease
Agreement shall
be signed
in both the French
and English
language. 
In the
event of any
discrepancy in
translation or
difference in interpretation
between the
two versions, the
English language version
shall prevail.


 


Article
2.  PURPOSE
OF THE AGREEMENT


 


Through
the presents,
Mazoto, in
its
capacity
as holder
of the
Permit,
under the
herein
after terms
and conditions,
concedes
to ERG,
who accepts,
the rights of exploring
the Minerals on the Permit
Area.


 


Under
the present
Sublease
Agreement,
the research/exploration
rights belonging
to Mazoto
by virtue of
the Permit
and relating
to the Minerals
shall be
granted to
ERG in respect
of the Permit
Area. In that
respect, the latter
has
the exclusive
right of undertaking the prospecting and
the search for the Minerals
to the extent they are
included in the Permit.
The obligations,
which are both administrative,
fiscal
and environmental
relating to the Permits,
in accordance to
the provisions
of Article
140 of Decree
n°2006-910 of 19 December
2006 which sets the modalities for applying
the Mining Law, as
well as the ownership
of such
Permit however remain with Mazoto.


 


 


 


Article
3 : RIGHTS
AND OBLIGATIONS


 


3.1.
Rights and obligations
of Mazoto


 


3.1.1
- Obligations
of Mazoto


 


Mazoto
acknowledges
and agrees
that once
this Sublease
Agreement is executed
and for
the duration of
the Term, access
to the
Permit must
be granted to
ERG along
with copies of
all material
documents
related
to or
associated
with the Permit
Area.


 


Mazoto
grants to ERG the
exclusive
rights to undertake the
prospecting
and the mining
research in order
to identify
Minerals,
and to
collect all necessary data
with a view
to exploiting
one such Mineral
or several
of them.
Any and
all data collected
as part of
undertaking prospecting
and mining research
is the property
of ERG
but ERG
will provide
Mazoto
copies on
the reasonable
request
of Mazoto at
ERG’s
cost.




     

     

    














  




 


 


 


Mazoto
shall manage
the Permit
in conformity
with the legal
and regulatory
provisions
in force and
shall provide
to ERG
all current and coming
information relating to the
Permit.


 


Mazoto commits,
upon
a simple
request
by ERG
and to the
expense of
the latter, to: (i) 
attend to
the renewal
of the Permit
before their
expiration;
and


(ii)
on completion
of a bankable
feasibility
study and
decision
to mine
being
made in
respect
of all or
a portion
of the
Permit Area, apply
to the Bureau
du Cadastre Minier
de Madagascar
(« BCMM ») for the transformation
of one part or the total
of the Permit
Area which will be
the mining
area into exploitation
permits.


 


All
fees
paid
and costs
engendered
by Mazoto
under
the last
paragraph
will
be cross-charged
to


ERG.


 


This Sublease
Agreement continues
to operate
in respect
of that part
of the
Permit
Area that
is not transformed into
an exploitation
permit(s).


 


3.2. Obligations
of ERG


 


For the
duration of
the Agreement, ERG
shall:


 


(a)
Conduct
its
research/exploration
activities
under the
Permit
by respecting
the conditions
and obligations imposed
on the holder
of mining
permits,
in accordance
with the
legislation
and regulation in force on
the territory
of the Republic
of Madagascar,
more particularly
the Madagascan
legal
and regulatory
provisions in mining
and environmental
matters and in accordance
with the international
standards and practices
in terms of
safety and ethics;


 


(b)
Take
in the
course
of its
research/exploration
activities
all
reasonable
actions
which prove necessary
to maintain the validity
of the Permit that
are the objects
of the present
Sublease Agreement
and to avoid its
forfeiture;


 


(c)
Repair
any damage
that Mazoto
might
suffer
and reimburse
any
expense
that
the latter
might incur
as a result
of an activity
undertaken
by ERG, its
authorized officials,
its employees,
subcontractors
or agents,
within
the Permit
Area under
the Permit that is the object of the
present Sublease
Agreement;


 


(d) Proceed
to, and fund
the feasibility
study of
the exploitation
of the
Permit
in relation
to


Minerals
that are
the objects
to the
present
Sublease
Agreement.




     

     

    

 















  




 


 


Article 4
: SUBLEASE


 


4.1 :
Grant of subleases


 


(a)
Mazoto agrees
to grant
to ERG
the Industrial
Mineral
Rights
and the
exclusive
right
to carry
out prospecting
and mining operations
within the
Permit Area, in accordance
with the laws of
Madagascar, for
the purposes
of identifying
and exploiting
any Minerals
within that area.


 


(b)
Mazoto hereby
grants
to ERG a sublease
over the Permit
Area to have
the exclusive
right
to carry out
prospecting
and mining
within the
Permit
Area,
in accordance with
the laws
of Madagascar, for
the purposes
of identifying
and exploiting
any Minerals
within that area.


 


4.2 Covenants
of Mazoto
in respect
of the Permit


 


Mazoto,
at the
cost of ERG,
must:


 


(a)
use all reasonable
endeavours
permitted
under
the laws
of Madagascar
to ensure
the Permit
is renewed
in the
usual
course
for such
periods
as permitted
by the Mining
Code, as requested by ERG;


 


(b)
do all such
acts as are
reasonably
necessary
to keep
the Permit
in good
standing
which can
only be
done or
performed
by the registered
holder of the Permit,
provided that Mazoto
must give to ERG adequate prior notice
of all such acts; and


 


(c)
use all reasonable
endeavours
to have
this Sublease
Agreement registered
with
the BCMM
as soon as possible.


 


4.3 Covenants
of ERG in
respect of
the Permit


 


Subject
to Article
4.2, ERG
must:


 


(a)
do all
such
acts
and make
all
such
payments
as are reasonably
necessary
to keep the
Permit in good
standing;


 


(b) comply
with all
minimum
expenditure
obligations
in respect
of the Permit
(if any);
and


 


(c)
contribute
as sole contributors
to all
outgoings
(being rents,
rates,
survey
fees and other
fees and charges
under applicable legislation
or otherwise in connection
with
the Permit).


 


4.4 Remedies
of ERG


 


(a)
If Mazoto
does,
permits
or suffers to
be done
anything, or
omits to
do anything
required under the Mining
Code or other
laws of Madagascar,
which constitutes
a breach of any of its covenants
under this
Sublease Agreement
and which may, in ERG’s reasonable
opinion, result in:




     

     














  




      

      


    

 


(i)
the termination
or non-renewal
of the
Permit;


 


(ii)
a revocation  of any 
permit,  authority
 or  approval
 necessary
 to
maintain 
the  good standing
of the
Permit;
or


 


(iii)
loss of
access
to any
part of
the Permit
Area,


 


ERG
has the
right, on each
occurrence, to
be appointed
Mazoto’s
attorney
for the
purpose of
taking
whatever
remedial steps
it considers
necessary
to remedy the
breach.


 


(b)
Any costs incurred
by ERG
in exercising
its
rights
pursuant to
Article 4.4(a)
will be a
debt due from
Mazoto to ERG
payable upon
demand.


 


(c)
The rights
created by Article
4.4(a)
are the
sole remedy
in respect
to a
breach
to which


Article
4.4(a)
applies.


 


(d)
ERG
will
not be liable
to Mazoto
for any
loss or damage
suffered
by Mazoto
as a result
of actions 
taken or
omissions 
made  by
ERG  in
the course
 of exercising
 or purporting 
to exercise
its rights
under Article
4.4(a)
so long as
ERG has acted
in good faith.


 


4.5 Exercise
of Industrial
Mineral Rights


 


ERG must,
in the
exercise of its
Industrial Mineral
Rights:


 


(a) comply
with
the conditions
of the
Permit
(to the
extent that
those conditions
relate to
the


Permit Area)
as if ERG
were
the permit
holder;


 


(b)
comply with
the requirements of
the BCMM,
the Mining
Code,
environmental
laws
and any
other laws
dealing with
miners and the
research/exploration
for and mining
of minerals;


 


(c)
be responsible
for approvals required
for activities
on the
Permit
Area;


 


(d)
be responsible
for the preparation
and lodgement
of any
reporting
obligations
on any work done
on, and
money expended
in connection
with
the Permit
Area;


 


(e)
comply
with,
adopt and
exercise good
mining practices
including
rehabilitating
any ground disturbance;


 


(f) 
without prejudice
to Article
8, use
its reasonable
endeavours to minimise
interference
with Mazoto’s activities in
planning, programming
and executing
any
exploration
activity
on the Permit;


 


(g)
keep
all drill
holes, costeans,
trenches,
excavations,
shafts and other
workings secure
and safe and properly
maintained
and, where
necessary,
fenced;
and




     

     

    

 















  




 


 


 


 


 


(h)
not do
or suffer
to be
done
anything
which
will
or may
place
in jeopardy
the Permit
or render
it liable
to forfeiture.


 


4.6 Notice
of activities


 


(a)
ERG
must, at least
20 working
days prior to
commencing
any
program of
activity
on the Permit Area (Proposed
Activity), give
a notice to Mazoto
(Notice of Proposed
Activity) containing
particulars
of:


 


(i)
the general
nature
of the
Proposed
Activity; and


 


(ii)
 the areas
of the Permit
Area
which ERG
proposes to enter
upon to conduct
 the Proposed
Activity
and or
to construct,
operate
and maintain infrastructure
in relation to
the Proposed
Activity.


 


(b)
ERG 
will, 
at the
cost of Mazoto,
 assay  any
exploration 
results 
for any
Other  Minerals
requested
by Mazoto
provided
that such
request is received
in sufficient
time for
ERG to make
such request of the
laboratory conducting
the assay.


 


(c)
Mazoto will, at
the cost
of ERG,
assay any
exploration
results for any
Industrial Minerals within
the Permit
Area requested
by ERG provided
that such
request is received
in sufficient time
for Mazoto
to make
such request
of the laboratory conducting the
assay.


 


(d)
ERG
must provide to
Mazoto the results
of ERG’s
activities on
the Permit
Area by
way of: (i)

quarterly
reports;
and


(ii)
 reports
at such other
times as
is required
by Mazoto
to enable it
to comply
with statutory
and mining
departmental
(BCMM) reporting obligations
as the holder
of the Permit.


 


4.7 Mutual
indemnities


 


(a)
ERG
agrees to indemnify,
and keep
indemnified,
and hold harmless
Mazoto
and
its directors, employees
and consultants
from and against
all claims
that may be
made, brought against,
suffered, sustained
or incurred
by Mazoto,
arising out
of any
act
or omission
(including
any negligent act or omission)
of ERG and in the
course of the exercise
of activities
undertaken
by ERG on
the Permit
Area.


 


(b)
Mazoto agrees
to indemnify,
and keep
indemnified,
and hold
harmless
ERG and
its directors,
employees and
consultants
from and against
all claims
that may be
made, brought against,
suffered, sustained
or incurred
by ERG, arising
out of any
act or omission
(including
any negligent  act 
or  omission) 
of Mazoto  and 
in  the  course 
of  the 
exercise  of 
activities
undertaken
by Mazoto
on the
Permit
Area.



 



 




     

    














  




      
      


    

 


 


4.8 
Acknowledgement


 


The Parties
acknowledge
that Exploration
Operations
may only
be conducted
in respect of
those Industrial Minerals
noted on
the Permits or
for which
an authorisation
of the
BCMM has
been received by Mazoto
acknowledging
that those
Industrial
Minerals are the
subject of the
Permit. Mazoto
must apply to
the BCMM
to add such
of the
Minerals to the
Permit as
may be
requested by ERG
from time to
time to
the extent
those Minerals
are
not already
noted
on the
Permit.


 


 


 


Article
5: PERMIT TRANSFORMATION


 


Mazoto
commits, upon a simple
written
request
by ERG
and
at the
expense of the
latter, on
completion
of a bankable
feasibility
study and
decision
to mine being
made
in respect
of the Permit
Area, to
apply to the
BCMM
to secure the transformation
of the mining
area portion
of the Permit
Area into exploitation
permits.


 


All
the fees paid
and costs engendered
by Mazoto,
under the
present
Article,
shall
be cross- charged
to ERG.


 


If,
under the
relevant
Mining
Law,
this Agreement
can not
continue in
respect
to the
portion
of the Permit converted
into a exploitation
permit,
then Mazoto
undertakes and
agrees to
enter
into a further
sublease
agreement
with
ERG in
respect
of the exploitation
permit
on the
same terms
and conditions
as this
current Sublease
Agreement.


 


 


 


Article
6 : COUNTERPART
OF THE
MINING EXPLORATION
RIGHTS OF
ERG


 


The
mining
research
work
undertaken
by ERG
by virtue
of the
present
Sublease Agreement,
enables
Mazoto to spare
some expenses
that they
would have
had to
pay if they
themselves had
undertaken such
research
work on the
Permit
Area.


 


In
addition
to the
costs related
to the
above
mentioned
costs,
ERG shall
pay: (a) the
costs
generated
by the
exploration of
the Minerals;


(b)
the mining
administration
fees payable
to BCMM
in relation
to the
Permit, as well
as all


related
expenses;


 


(c)
the  mining 
royalties 
and  rebates  payable
 in  relation
 to 
Minerals  to 
BCMM  in  case
 of exploitation
of the
Minerals;


 


(d)
the local
and/or national
taxes
applied
to the
Minerals;




     

     

    

 















  




 


 


 


(e)
the costs
related
to the
environmental
impact assessments
that are
required in respect
of


ERG
exercising its
rights under
the present
Sublease Agreement;


 


(f) 
the costs
related
to the
feasibility
study
of the exploitation
of the
Minerals;


 


(g)
the costs
of rehabilitation
that
is necessary
and consecutive
to its
activities
on the
land the
subject of
the Permit
Area and required
under the observance of the regulation
in force; and


 


(h)
the dues
and fees
to maintain
the validity of
the Permit.


 


ERG
commits
to reimburse
without
delay
to Mazoto
all the
expenses
that are
incurred
by the
latter
with regard
to the above mentioned
costs
or otherwise attend to pay the above costs
directly to the
relevant
authority.


 


 


 


Article
7 : PERMIT
TRANSFER AND
EXCLUSION


 


The research/exploration
rights of
ERG
which result
from the
present Sublease
Agreement do not confer
upon ERG
any ownership
rights to the
Permit.
Nevertheless,
the rights
resulting from
the present
Agreement
follow the
Permit
in whatever
hand it passes.
In that respect,
Mazoto might
assign the
Permit,
subject to the
fact that
the transferee
signs an
agreement deed to the present
Sublease
Agreement that
recognizes
the rights of
ERG such
as defined
in the present
Sublease Agreement.


 


However,
ERG benefits
from a preemptive
right on
any proposal
to transfer
the Permit
other than to
Mazoto or to
Mazoto or
to any other company,
the shares of
which
are
in majority
held by Mazoto,
subject to the fact
that the acquirer signs an
agreement
deed to
the present
Sublease Agreement
that recognizes the
 rights
of ERG  such 
as defined in  the 
present Sublease Agreement.


 


For
the exercising
of such
preemptive
right, any
proposal to
transfer
the Permit shall
be notified
in advance
to ERG
within
a period
of 30 days
at least
prior
to its
achievement
so that
ERG can
provide a bid.


 


If ERG
wishes
to exercise
such preemptive
right,
ERG
shall give
notice
to Mazoto
within
the 30 day
period referred to
above to
acquire the
Permit at the
price and
otherwise on the
same terms and conditions
offered
to Mazoto
by the third
party.


 


If, within
a period of 30
days as
of the notification
date,
ERG does
not exercise
its preemptive right,
Mazoto
may transfer
the Permit
to a third
party on condition
that the
transferee signs
an agreement
deed to
the present
Sublease
Agreement that recognizes
the rights of ERG
such as defined
in the
present
Sublease
Agreement.


 


Therefore,
the transferee
shall
substitute Mazoto
under the
obligations and
conditions
resulting from
the present
Sublease Agreement.



 




     

     














  




      

      

      


    

 


 


 


ERG
may, by
providing
written
notice
to Mazoto,
exclude
the Permit
from
the operation
of this


Sublease
Agreement,
provided:


 


(a)
ERG 
gives  two  months 
written 
notice  of its
intention  to
exclude 
the Permit
 from 
the operation
of this
Sublease
Agreement;
and


 


(b)
the costs
referred
to in
Article 6 are
up-to-date
and ERG
has paid
all rent and
taxes
applying
to the
Permit for 1
year, commencing
on the date
ERG gives written notice
of exclusion
of the Permit
under this
Article 7.


 


 


 


Article
8 : OTHER
MINERAL RIGHTS


 


8.1 
Holder
of the Permit
and Other
Mineral
Rights


 


The
parties agree and
acknowledge
that Mazoto
is:


 


(a)
subject to
the Permit
being transformed
in to an
exploitation
permit, the
registered
holder of the
Permit;
and


 


(b)
the sole holder
of the
Other Mineral
Rights,


 


and no
other party
has any
rights
in the
Permit or
the Other
Mineral
Rights
other
than as
contemplated
by this
Sublease
Agreement.


 


8.2 
Priority of exercise
of Industrial
Mineral
Rights by ERG


 


Subject
to clause 8.4,
Mazoto, as
the holder
of the
Other
Mineral
Rights,
and
ERG must
consult, co-operate
and otherwise
use all
reasonable
endeavours
not to
interfere
with:


 


(a)
the exercise
of the Industrial
Mineral
Rights
by ERG;
and


 


(b)
the exercise
of the Other
Mineral
Rights
by Mazoto,


 


but
to the extent
such interference
cannot reasonably
be avoided,
the exercise
of the
Industrial Mineral
Rights
by ERG
will have
priority.
 Without
limiting
the foregoing,
Mazoto,
as the holder
of the
Other Mineral
Rights, and
ERG must, prior
to the commencement
of their
respective seasonal
exploration
programmes on the Permit Area, consult
with each other as
to the contents
of those programs and
use reasonable endeavours
to ensure those programs
are not
incompatible.


 


8.3 
Exercise of Other
Mineral Rights by
Mazoto


 


In
the exercise
of the
Other
Mineral
Rights,
Mazoto must:



 



 




     

    














  




      

    

 


 


 


(a)
comply with
all applicable laws
and conditions
of grant of
the Permit;
and


 


(b)
not  do  or 
suffer  to 
be done  anything
 which
 will
 or  may 
render 
the Permit
 liable
 to cancellation
or forfeiture.


 


8.4 
Suspension
of Other
Mineral
Rights for
duration
of mining operations


 


Subject
to Article
8.7, upon
ERG making
a decision
to mine
in respect
of the
whole
or any
part of the Permit
Area, the
Other Mineral
Rights of Mazoto
will be
suspended
over the
relevant mining area for
the duration
of the
mining operations the
subject of
that decision
to mine.


 


8.5
 Transfer
of Other
Mineral
Rights


 


Mazoto
may transfer, assign
or otherwise dispose
of the whole
or any
part
of the
Other Mineral


Rights
to any person
(OMR Transferee)
subject
to:


 


(a)
Mazoto giving
ERG
the opportunity
to match
any bona
fide third
party offer
for the Other Mineral
Rights
as a right
of first
refusal for
a period
of 30 days
from the
time of notice
of the offer
from
Mazoto;


 


(b)
the OMR
Transferee
being
technically
and financially
able to
perform the obligations
of Mazoto as the
holder of
the Other Mineral Rights under
this Sublease Agreement
to the extent of the interest
disposed of; and


 


(c)
the OMR
Transferee
entering
into
an agreement
deed
to the
present
Sublease Agreement that
recognize the rights of
ERG such as defined
under the present
Sublease
Agreement.


 


8.6
 Transfer
of Industrial
Mineral Rights


 


ERG
may transfer,
assign
or otherwise
dispose
of the
whole
or any
part
of the
Industrial
Mineral


Rights
to any person
(IMR Transferee)
subject to:


 


(a)
ERG 
giving  Mazoto 
the  opportunity 
to  match
 any
 bona  fide 
third  party
 offer 
for  the
Industrial Mineral
Rights
as a right of
first refusal for
a period of 30
days
from the
time of notice
of the offer
from ERG;


 


(b)
the IMR
Transferee being
technically and
financially
able to perform
the obligations
of ERG as the
holder of the
Industrial
Mineral
Rights under this Sublease
Agreement to
the extent of the interest
disposed of; and


 


(c)
the OMR
Transferee
entering
into
an agreement
deed
to the
present
Sublease Agreement that
recognize
the rights
of ERG such
as defined
under the present
Sublease
Agreement.




     

     

    














  




 


 


 


 


8.7 Co-mingling


 


(a)
If a deposit
of Industrial
Minerals
is co-mingled
or co-incident
to a
deposit
of Other
Minerals
then Mazoto
and ERG
will negotiate
in good faith
the terms on which
they will jointly
develop the Industrial
Minerals and Other Minerals,
provided
that,
subject to
Article
8.7(b),
in no circumstances
will the exploration
or development
of a deposit
of Other
Minerals
impede the exploration
or development
of a deposit
of Industrial
Minerals.


 


(b)
The development
of a deposit
of Other Minerals
that is
co-mingled or
co-incident
to a deposit
of Industrial Minerals
will prevail over
the exploration or development
of the
deposit of Industrial
Minerals
only in following circumstances:


 


(i)
 the
deposit
of Other
Minerals
has
been
determined
by a
competent
person to
be an
orebody
comprising
a resource or reserve
with a
greater net present value
than the deposit of
Industrial Minerals;
and


 


(ii)
 Mazoto
can demonstrate
to the
satisfaction
of the ERG,
acting reasonably,
that the deposit of
Other Minerals
can and will be developed
and mined within
the same timeframe
as ERG
proposes to
develop and mine
the deposit
of Industrial Minerals.


 


In this
Article 8.7(b),
“reserve”,
“resource” and
“competent
person”
have
the meanings
ascribed 
to those
terms
in the
Australasian
 Code for
Reporting
 of Exploration
 Results, Mineral
Resources and
Ore Reserves
prepared
by the Joint
Ore Reserves
Committee
of the Australasian
Institute of Mining and
Metallurgy,
Australian
Institute of Geoscientists
and Minerals Council
of Australia
and known
as the JORC
Code.


 


(c)
Subject to
Article 8.7(d),
if Mazoto
and ERG are
unable
to negotiate
the joint
development
of the
Industrial Minerals
and Other
Minerals,
then as
part of the development
of the Industrial
Minerals
ERG will, on
receiving
a written
notification
from Mazoto,
stockpile
the Other Minerals
so that Mazoto may
have the benefit
of the development
of the Other Minerals once
ERG has ceased
mining.


 


(d)
Any  stockpiling 
costs  associated 
with 
the development
 of 
Industrial 
Minerals  (including overburden
and waste)
will be at the expense
of ERG. Any
costs associated
with the
stockpiling
of Other Minerals
undertaken
at the request
of Mazoto which are
not activities
which would have been
incurred by ERG in the course
of mining operations
in any event, including
(but not limited to) any ongoing
environmental
compliance
costs, will be funded


100%
by Mazoto.


 


 


 


Article 9
: RESPONSIBILITIES


 


ERG
only is responsible
for its
activities
resulting
from the present
Sublease Agreement.
In no way
is ERG responsible
for the activities
of Mazoto,
including with
respect to the
exercise of
the Other
Mineral
Rights.



 



 




     

    














  




      
      


    

 


 


 


In addition,
in case of non observance
by ERG
of its obligations
towards the mining administration
and at the
environmental level
as set
out in the
present
Sublease
Agreement, it commits
to indemnify Mazoto
with regard to any prejudice, damage,
loss and costs resulting from the non observance
of such obligations.


 


 


 


Article
10 : SUSPENSION
OF RIGHTS AND
TERMINATION


 


In
case of
termination
of the present
Sublease Agreement,
whether in
case of
failure
by either


Party
or upon expiration
of the
Sublease
Agreement:


 


(a)
the rights of
ERG resulting
from
the present
Sublease Agreement
shall cease
as a right;


 


(b)
similarly,
ERG shall
not be responsible
for any obligation
resulting from
the present
Sublease Agreement
except
for its
obligations
that are normally
due originating
from
facts prior
to the effectiveness
date of the
termination but
that the
latter could
not have
accomplished
on the termination
date; and


 


(c)
ERG
to the satisfaction
of the
government
departments
or authorities
involved
commits
itself to
discharge
any obligation and
responsibility
that would be imposed
on it by the legislation
and regulations
in force, with
regard
to the environmental
rehabilitation
of the areas covered
by the Permit Area
but only
to the extent
that those obligations
and responsibilities
are the result of operations
undertaken by
ERG, its authorized
officials, its
employees,
subcontractors
or agents.


 


 


 


Article
11: DURATION
AND RENEWAL


 


The
present
Sublease Agreement
becomes effective
on the date
it is signed and
remains
valid
and in
force
for the
duration of the
term of
the Permit,
including the
term
of any
renewal
of the Permit
(“Term”).


 


Notwithstanding
what precedes,
the duration
of the
present Sublease
Agreement in so
far as it relates
to the Permit
will
expire where
the Permit
is excluded from
this Sublease
Agreement in accordance
with Article 7
of this Sublease Agreement.


 


If,
under the
relevant Mining
Law, the
Term is
unable to extend
to any
renewal
of the
Permit, Mazoto
undertakes and
agrees to
enter into a further
sublease
agreement
with
ERG for
the period of the renewal
of the Permit on the same terms and conditions
as the current
Sublease Agreement.


 


This Sublease
Agreement terminates
immediately
upon the
occurrence of: (a)
any unanimous
agreement by Mazoto
and ERG
to that effect;



 



 




     

    














  




      

    

 


 


(b) ERG
ceasing to have
any rights to
any of the
Industrial Mineral
Rights;
and


 


(c)
Termination
under Article
12(b).


 


Article 12
: EVENT
OF DEFAULT


 


(a)
Should a
Party fail
to do,
execute or
perform any
material act
or thing
which such Party
is obliged to do,
execute or
perform pursuant
to this
Sublease
Agreement
(Event of Default),
the aggrieved
Party may give the defaulting
Party a notice
requiring the
defaulting Party to
remedy
such Event
of Default
within a period
of 30 days
following service
of the notice
or if such default
is not capable of
being remedied within
such period
of 30 days then
within such further
period
as the aggrieved
Party
or Parties shall deem
reasonable.


 


(b)
If a Party
serves
a notice of
default
under
Article 12(a)
and such
default
remains un-remedied
upon expiry of the
period specified
in such
notice for
rectification,
the aggrieved
Party may
terminate
this Sublease
Agreement forthwith
upon the service
of a further notice in writing to
that
effect
and upon
the service
of such
further
notice
this Sublease
Agreement shall
terminate
forthwith
without
prejudice
to the rights
and remedies
of the aggrieved
Party at law
or otherwise
howsoever arising.


 


(c)
Article
12(a) does
not apply
to any
Event
of Default
for which
another
remedy
is provided
in this
Agreement.


 


 


 


Article
13 : INSURANCE


 


If
necessary,
ERG,
at its expense,
shall contract
and maintain
in force
insurance
policies
with insurance
companies
of international
renown which
are represented
in Madagascar
to cover the risks
against damages,
losses
or injuries
and damages
on the
environment.


 


In
addition,
ERG commits to
transfer to
Mazoto any
proceeds that
it may
receive
under
such insurance
policies, up
to the
amount
payable for damages
potentially suffered
by Mazoto. One
copy 
of each
 insurance
 policy
 and 
its rider,
 as well as of the  delegation
contract shall be
transmitted
to Mazoto each year.


 


Article
14 : FORMALITIES
– REGISTRATION
FEES


 


The Parties
expressly agree
that the
registration fees of
the present
Sublease Agreement
and the related
administrative formalities
shall be taken care of 50%
by ERG and 50%
by Mazoto.



 




     

     














  




      


    

 


 


Article
15 : LAW
IN FORCE - DISPUTES


 


The
present Agreement
is governed
by the
law in Madagascar.


 


Any
dispute
arising
under the
execution
of the
present Sublease
Agreement
and that may
not be resolved
by agreement
by the Parties
will be submitted
in a first
time to a
conciliation.
In the case
when no agreement
has been
able to
be reached
within a period
of 3 months,
the dispute
will be referred
to an
arbitration
court.


 


The arbitration
court
is made up
of three
arbitrators,
each party
designating
an arbitrator and
the two arbitrators
thus designated
designate
the third.
However,
the Parties
may agree between
them to designate
one single arbitrator. The
arbitrators are compulsorily natural
people.


 


Conciliation
and arbitration
shall be
conducted
in accordance
with the
Rule of conciliation
and arbitration of
the International
Chamber
of Commerce.


 


The 
arbitration  will  take
 place 
in  the  English
 language 
and  the 
arbitration 
place  will  be


Antananarivo.


 


 


 


Article
16 : CHOICE
OF RESIDENCE


 


For the
execution of the
present Sublease
Agreement,
the Parties
declare
that they
elect domicile at
the respective
head offices
of their companies.


 


Drawn up
in (5)
copies in Antananarivo,
on this
 .


 


For Mazoto
For ERG


 


 


 


 


 


Jean Luc
Marquetoux
Roland Fok-Seung


Manager
Manager


 


 


 


 


Kirk
McKinnon


Manager


 


 


 


 


Richard
Schler


Manager




     

     

    

 















  




 


 


 


 


ANNEX
A


 


List
of the minerals
that are the
objects of the
present Sublease
Agreement


 


Vanadium Lithium
Aggregates
Alunite
Barite Bentonite
Vermiculite Carbonatites
Corundum


Dimension
stone, other
than labradorite
Feldspar, other
than labradorite
Fluorspar


Granite
Graphite
Gypsum Kaolin Kyanite


Limestone
/ Dolomite


Marble Mica
Olivine
Perlite
Phosphate


Potash
– Potassium
minerals


Pumice Quartz
Staurolite Zeolites




     

     

    

 















  




 


 


 


ANNEX
B


 


Permit
Area


 


 


 


[To
be inserted
at the time the sublease is entered into]




     

     

    

 


Joint
Venture Agreement


 


 


 


 


Annexure
C- Form of
MDA Sublease Agreement


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 















  




 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




     

     

    

 


 


 


 


MINING SUBLEASE
AGREEMENT


 


 


 


Between
:


 


 


 


Mada-Aust
SARL, a limited
liability
company
with share
capital of
2.000.000,00
Ariary, the
head office of which is located
at 135 Bis,
 Route
circulaire,
Ankorahotra,
101  Antananarivo,
Madagascar,
 registered
 at the
Trade
and Company
 Register
of  Antananarivo
 under 
number


2004B00494,
holding the
Statistical Number
742141 2004 1 10261
and
the Tax Registration
Number 3000018087,
represented by Mr Jean
Luc Marquetoux
in his quality
as Manager
of the Company,
having all powers
in that
respect,


 


(Herein after
called «Mada-Aust»)
on the
one hand,
And,


ERG
(Madagascar)
Ltd,
a limited liability
company  with
a capital
of 2.000.000,00
Ariary,
the head


office
of which
is located
at Pres
lot 001
A Bis, Andranomena-Antehiroka,
Antananarivo
101, Madagascar,
registered
at the
Trade
and
Company
Register
under
Number  
, holding
the Statistical
Number
    and
the Tax
Registration
Number  
, represented
by Mr Roland
Fok-Seung
in his
quality
as Manager
of the
Company, having
all
powers in
that respect,


 


 


 


(Herein
after called
« ERG») 
on the
other hand


 


 


 


 


PREAMBLE


 


 


 


(A)
Mada-Aust is
the holder of
mining permit
number <insert>
(herein
after “the
Permit”)


relating on
a total
of  squares.


 


		(B)	Mada-Aust envisages
conceding
to the
benefit
of ERG,
the rights
for exploring
Minerals as
defined
in Article one
below.



 


		(C)	Therefore,  Mada-Aust
 and  ERG
 decided
 to  set
 the  terms 
and  of  their 
respective agreement and commitment
as follows.





     

     

    

 


 


Article
1. DEFINITIONS
AND INTERPRETATION


 


1.1
Definitions


 


In
the present
Agreement, unless
the context
otherwise
requires:


 


-« Ar
» refers to
Ariary, a
currency
of the
Republic of Madagascar;


 


		-	« Claim
» refers to
a mineral
claim such
as defined
by the mining
legislation in
Madagascar, and
as being part of
the area demarcated
by a permit;



 


-« Industrial
Mineral Rights
» means
all Mineral
Rights with
respect
to the
Minerals.


 


		-	« Minerals
»  or  «
Industrial  Minerals
»  refers
 to  the 
minerals  listed  in 
Annex  A 
and  the research
and/or exploitation
of which is
authorized
within the
Permit Area from
time to time;



 


		-	« Mineral
Rights »
means
the right to
explore for
and mine minerals
within the
Permit Area
in accordance
with
the Permit.



 


-« Other
Minerals
» means
all other
minerals other
than Minerals.


 


		-	« Other
Mineral Rights
» means all
Mineral
Rights
other than
the Industrial
Mineral
Rights
in respect
of the
Permit.



 


-« Permit
» means mining
permit
number <insert>;


 


-« Permit
Area» means
the area
of the
Permit described
in Annex
B;


 


-« Party
» refers to
any of the
parties
to the present
Agreement;
and


 


-« Term
» has
the meaning
given
to that term
in Article
11 of this
Sublease
Agreement.


 


 


 


The
word
forms
issued
from
a word
or an
expression
as defined
in the present
clause shall
have the same
meaning as the
above mentioned
ones.


 


1.2.
Interpretation


 


In the
interpretation of
the present
Agreement,
except for
contradiction
with the
subject matter
or the
context,




     

     

    

 


 


 


(a) 
Titles are given in the present Agreement only for convenience and they in no
case be used for interpreting the latter;


 


(b)
Any  reference  to 
the preamble,  to the clauses,
 indentation,
 paragraphs,
 annexes
 are references
to the
preamble, the
clauses, the
indentations, the
paragraphs and annexes
of the present
Agreement;


 


(c)
« including
» and similar
expressions are
not restrictive
words.


 


The Parties
acknowledge and
agree that
this Sublease
Agreement shall
be signed
in both the French
and English
language. 
In the
event of any
discrepancy in
translation or
difference in interpretation
between the
two versions, the
English language version
shall prevail.


 


Article
2.  PURPOSE
OF THE AGREEMENT


 


Through
the presents,
Mada-Aust, in
its capacity
as holder
of the Permit,
under the
herein after terms
and conditions,
concedes
to ERG,
who accepts,
the rights of exploring
the Minerals on the
Permit Area.


 


Under
the present
Sublease Agreement,
the research/exploration
rights
belonging to Mada-Aust
by virtue
of the Permit
and relating to the Minerals shall
be granted
to ERG in
respect of the Permit
Area. In that respect,
the latter
has the
exclusive
right
of undertaking
the prospecting and the
search for the
Minerals
to the extent
they are
included in
the Permit.
The obligations,
which
are both administrative,
fiscal
and environmental
relating to the
Permits, in accordance
to the provisions
of Article
140 of Decree n°2006-910
of 19 December
2006 which sets the modalities for applying the Mining Law,
as well as the ownership
of such Permit however remain with Mada-Aust.


 


 


 


Article
3 : RIGHTS
AND OBLIGATIONS


 


3.1.
Rights and obligations
of Mada-Aust


 


3.1.1
- Obligations
of Mada-Aust


 


Mada-Aust
acknowledges
and agrees
that once
this Sublease
Agreement
is executed
and for
the duration of
the Term, access
to the
Permit must
be granted to
ERG along
with copies of
all material
documents
related
to or
associated
with the Permit
Area.


 


Mada-Aust
grants to ERG
the exclusive
rights
to undertake the prospecting
and the mining research
in order
to identify
Minerals,
and to collect
all necessary data
with a view
to exploiting one 
such  Mineral 
or several
 of them.
Any  and 
all data 
collected 
as part  of  undertaking
prospecting  and mining research is the
property of ERG but ERG will
provide
Mada-Aust copies
on the reasonable request
of Mada-Aust at
ERG’s
cost.




     
      















  




      


     

    

 


Mazoto
shall manage the Permit in conformity with legal and regualtory provisions in force and
shall provide
to ERG
all current and
coming information
relating to the
Permit. Mada-Aust
commits,
upon a simple
request by ERG
and to
the expense
of the
latter, to: (i) attend
to the renewal
of the Permit
before their
expiration;
and


 


(ii)
on completion
of a bankable
feasibility
study and
decision
to mine
being
made in
respect
of all or
a portion
of the
Permit Area, apply
to the Bureau
du Cadastre Minier
de Madagascar
(« BCMM ») for the transformation
of one part or the total
of the Permit
Area which will be
the mining
area into exploitation
permits.


 


All fees
paid
and costs engendered
by Mada-Aust
under the
last paragraph
will be cross-charged
to ERG.


 


This Sublease
Agreement continues
to operate
in respect
of that part
of the
Permit
Area that
is not transformed into
an exploitation
permit(s).


 


3.2. Rights
and obligations
of ERG


 


3.2.1-
 Rights
of existing
subleases


 


[Note
for template:
This
Article 3.2.1
only applies
to the
Sublease
Agreements
dealing
with Permit
numbers: 3432, 5394,
19932, 25605 and
25606. This
Article will be deleted
from the remainder
of the
Sublease Agreements]


 


In respect
 of  the 
areas  covered
 by 
existing
 sublease
 agreements 
relating 
to  the research/exploration
and exploitation of Labradorite,
being those sublease
agreements
between Mada-Aust
and Magrama SA, Mada-Aust and SQNY
International
SARL and Mada-Aust and Euromad
Minière SARL,
the rights
of ERG under
this
Agreement are subject
to the rights of the existing
sub-leasees.


 


3.2.2-
 Obligations
of ERG


 


For
the duration of
the Agreement, ERG
shall:


 


(a)
Conduct
its
research/exploration
activities
under the
Permit
by respecting
the conditions
and obligations imposed
on the holder
of mining
permits,
in accordance
with the
legislation
and regulation in force
on the
territory
of the Republic
of Madagascar,
more particularly
the Madagascan legal
and regulatory
provisions in mining
and environmental
matters and
in accordance
with the international
standards and
practices in
terms of safety and ethics;




     

     

    














  




 


 


 


 


(b)
Take
in the
course
of its
research/exploration
activities
all
reasonable
actions
which prove necessary
to maintain the validity
of the Permit that
are the objects
of the present
Sublease Agreement
and to avoid its
forfeiture;


 


(c)
Repair any
damage that
Mada-Aust
might suffer
and reimburse
any expense
that the
latter might  incur  as 
a result  of 
an  activity 
undertaken by
 ERG,  its
authorized officials, its
employees,
subcontractors
or agents,
within the
Permit Area under
the Permit that is
the object of the
present Sublease
Agreement;


 


(d) Proceed
to, and fund
the feasibility
study of
the exploitation
of the
Permit
in relation
to


Minerals
that are
the objects
to the
present
Sublease
Agreement.


 


 


 


Article 4
: SUBLEASE


 


4.1 :
Grant of subleases


 


(a)
Mada-Aust
agrees
to grant
to ERG
the Industrial
Mineral
Rights
and the
exclusive
right
to carry
out prospecting
and mining
operations within
the Permit
Area,
in accordance
with
the laws of Madagascar,
for the purposes
of identifying and exploiting
any Minerals
within that
area.


 


(b)
Mada-Aust
hereby grants
to ERG a
sublease
over the
Permit
Area
to have
the exclusive
right
to carry out
prospecting
and mining
within the
Permit Area, in
accordance
with
the laws of
Madagascar, for
the purposes
of identifying
and exploiting
any Minerals
within that area.


 


4.2 Covenants
of Mada-Aust
in respect
of the
Permit


 


Mada-Aust, at
the cost
of ERG,
must:


 


(a)
use all reasonable
endeavours
permitted
under
the laws
of Madagascar
to ensure
the Permit
is renewed
in the
usual
course
for such
periods
as permitted
by the Mining
Code, as requested by ERG;


 


(b)
do all such
acts as are
reasonably
necessary
to keep
the Permit
in good
standing
which can
only be
done or
performed
by the
registered
holder
of the
Permit,
provided
that Mada-Aust
must give to ERG
adequate prior
notice of
all such acts; and


 


(c)
use all reasonable
endeavours
to have
this Sublease
Agreement registered
with
the BCMM
as soon as possible.


 


4.3 Covenants
of ERG in
respect of
the Permit


 


Subject
to Article
4.2, ERG
must:




     

     

    














  




 


 


 


 


(a)
do all
such
acts
and make
all
such
payments
as are reasonably
necessary
to keep the
Permit in good
standing;


 


(b) comply
with all
minimum
expenditure
obligations
in respect
of the Permit
(if any);
and


 


(c)
contribute
as sole contributors
to all
outgoings
(being rents,
rates,
survey
fees and other
fees and charges
under applicable legislation
or otherwise in connection
with
the Permit).


 


4.4 Remedies
of ERG


 


(a)
If Mada-Aust does,
permits or
suffers
to be done
anything, or omits
to do anything
required under the Mining
Code or other
laws of Madagascar,
which constitutes
a breach of any of its covenants
under this
Sublease Agreement
and which may, in ERG’s reasonable
opinion, result in:


 


(i)
the termination
or non-renewal
of the
Permit;


 


(ii)
a revocation 
of any  permit, 
authority 
or  approval
 necessary
 to
maintain 
the good
standing
of the
Permit;
or


 


(iii)
loss of
access
to any
part of
the Permit
Area,


 


ERG
has the
right, on each
occurrence, to
be appointed
Mada-Aust’s attorney
for the purpose
of taking
whatever
remedial
steps it considers
necessary
to remedy the
breach.


 


(b)
Any costs incurred
by ERG
in exercising
its
rights
pursuant to
Article 4.4(a)
will be a
debt due
from Mada-Aust
to ERG
payable
upon demand.


 


(c)
The rights
created by Article
4.4(a)
are the
sole remedy
in respect
to a
breach to
which


Article
4.4(a)
applies.


 


(d)
ERG will
not be liable
to Mada-Aust
for any
loss or
damage
suffered
by Mada-Aust
as a result
of actions
taken or omissions
made by ERG in
the course
of exercising
or purporting
to exercise
its rights under Article
4.4(a) so long as ERG has acted
in good faith.


 


4.5 Exercise
of Industrial
Mineral Rights


 


ERG must,
in the
exercise of its
Industrial Mineral
Rights:


 


(a) comply
with
the conditions
of the
Permit
(to the
extent that
those conditions
relate to
the


Permit Area)
as if ERG
were
the permit
holder;


 


(b)
comply with
the requirements of
the BCMM,
the Mining
Code,
environmental
laws
and any
other laws
dealing with
miners and the
research/exploration
for and mining
of minerals;




     

     

    














  




 


 


 


 


(c)
be responsible
for approvals required
for activities
on the
Permit
Area;


 


(d)
be responsible
for the preparation
and lodgement
of any
reporting
obligations
on any work done
on, and
money expended
in connection
with
the Permit
Area;


 


(e)
comply
with,
adopt and
exercise good
mining practices
including
rehabilitating
any ground disturbance;


 


(f) 
without prejudice
to Article
8, use
its reasonable
endeavours to minimise
interference
with Mada-Aust’s activities
in planning, programming
and executing any
exploration activity on the Permit;


 


(g)
keep
all drill
holes, costeans,
trenches,
excavations,
shafts and other
workings secure
and safe and properly
maintained
and, where
necessary,
fenced;
and


 


(h)
not do
or suffer
to be
done
anything
which
will
or may
place
in jeopardy
the Permit
or render
it liable
to forfeiture.


 


4.6 Notice
of activities


 


(a)
ERG
must, at least
20 working
days prior to
commencing
any
program of
activity
on the Permit  Area (Proposed
Activity), 
give a notice to  Mada-Aust (Notice
of  Proposed Activity)
containing particulars
of:


 


(i)
the general
nature of
the Proposed
Activity; and


 


(ii)
 the areas
of the Permit
Area
which ERG
proposes to enter
upon to conduct
 the Proposed
Activity
and or
to construct,
operate
and maintain infrastructure
in relation to
the Proposed
Activity.


 


(b)
ERG
will, at
the cost of
Mada-Aust,
assay any
exploration results
for any
Other Minerals
requested
by Mada-Aust
provided that such request
is received in
sufficient time for
ERG to make such request of the laboratory
conducting the assay.


 


(c)
Mada-Aust
will, at the
cost of
ERG, assay
any exploration results
for any Industrial
Minerals within
the Permit
Area requested
by ERG provided
that such
request is received
in sufficient time
for Mada-Aust to
make such
request
of the
laboratory
conducting
the assay.


 


(d)
ERG
must provide
to Mada-Aust
the results
of ERG’s activities
on the Permit
Area by
way of:


 


(i)
quarterly
reports;
and




     

     














  




      


    

 


 


(ii)
 reports
at such other
times
as is required
by Mada-Aust to
enable
it to comply
with statutory
and mining
departmental
(BCMM) reporting
obligations
as the holder
of the Permit.


 


4.7 
Mutual indemnities


 


(a) ERG
agrees to
indemnify, and keep
indemnified,
and hold
harmless
Mada-Aust and its directors,
employees and
consultants
from and
against all claims that
may be made,
brought against, suffered,
sustained or incurred
by Mada-Aust,
arising out of
any act
or omission
(including  any
negligent  act
or omission)  of ERG and in the course
 of the exercise
 of activities
undertaken
by ERG
on the
Permit
Area.


 


(b)
Mada-Aust 
agrees to indemnify,
 and
keep
indemnified,
 and
hold harmless 
ERG and its directors,
employees and
consultants
from and
against all claims that
may be made,
brought against, suffered,
sustained
or incurred
by ERG,
arising
out of
any act
or omission
(including
any negligent
act or omission) of Mada-Aust and in the course
of the exercise
of activities
undertaken
by Mada-Aust
on the Permit
Area.


 


4.8 
Acknowledgement


 


The Parties
acknowledge
that Exploration
Operations
may only
be conducted
in respect of
those Industrial Minerals
noted on
the Permits or
for which
an authorisation
of the
BCMM has
been received by Mada-Aust
acknowledging that
those Industrial
Minerals are the
subject of
the Permit.
Mada-Aust
must apply
to the
BCMM to add
such of the
Minerals to
the Permit
as may
be requested
by ERG from
time
to time to
the extent
those Minerals
are not already
noted on the
Permit.


 


 


 


Article
5: PERMIT TRANSFORMATION


 


Mada-Aust
commits, upon
a simple
written
request
by ERG
and at
the expense
of the
latter, on
completion
of a bankable
feasibility
study and
decision
to mine being
made in
respect of
the Permit
Area, to
apply to the
BCMM
to secure the transformation
of the mining
area portion
of the Permit
Area into exploitation
permits.


 


All the
fees paid
and costs
engendered
by Mada-Aust,
under the
present Article,
shall
be cross- charged
to ERG.


 


If,
under the
relevant
Mining
Law,
this Agreement
can not
continue in
respect
to the
portion
of the Permit
converted into
a exploitation
permit, then
Mada-Aust
undertakes and
agrees to enter
into
a further
sublease
agreement
with
ERG in respect
of the exploitation
permit
on the same
terms
and conditions as this
current Sublease
Agreement.




     

     














  




      


    

 


 


Article
6 : COUNTERPART
OF THE
MINING EXPLORATION
RIGHTS OF
ERG


 


The
mining
research
work
undertaken
by ERG
by virtue
of the
present
Sublease Agreement,
enables
Mada-Aust to
spare
some expenses
that they
would
have had to pay
if they themselves
had undertaken
such research
work on
the Permit
Area.


 


In
addition
to the
costs related
to the
above
mentioned
costs,
ERG shall
pay: (a) the
costs
generated
by the
exploration of
the Minerals;


(b)
the mining
administration
fees payable
to BCMM
in relation
to the
Permit, as well
as all


related
expenses;


 


(c)
the  mining 
royalties 
and  rebates  payable
 in  relation
 to 
Minerals  to 
BCMM  in  case
 of exploitation
of the
Minerals;


 


(d)
the local
and/or national
taxes
applied
to the
Minerals;


 


(e)
the costs
related
to the
environmental
impact assessments
that are
required in respect
of


ERG
exercising its
rights under
the present
Sublease Agreement;


 


(f) 
the costs
related
to the
feasibility
study
of the exploitation
of the
Minerals;


 


(g)
the costs
of rehabilitation
that
is necessary
and consecutive
to its
activities
on the
land the
subject of
the Permit
Area and required
under the observance of the regulation
in force; and


 


(h)
the dues
and fees to
maintain the
validity
of the
Permit.


 


ERG
commits to reimburse
without delay
to Mada-Aust
all the
expenses
that are
incurred
by the latter
with regard
to the above
mentioned costs
or otherwise attend
to pay the
above costs directly
to the relevant
authority.


 


 


 


Article
7 : PERMIT
TRANSFER AND
EXCLUSION


 


The research/exploration
rights of
ERG
which result
from the
present Sublease
Agreement do not confer
upon ERG
any ownership
rights to the
Permit.
Nevertheless,
the rights
resulting


from the
present
Agreement follow the
Permit
in whatever
hand it passes.
In that
respect,
Mada-


Aust might
assign the Permit,
subject to
the fact that
the transferee
signs
an agreement
deed to
the present
Sublease
Agreement that
recognizes
the rights
of ERG
such as
defined
in the
present
Sublease
Agreement.


 


However,
ERG benefits
from a preemptive
right on
any proposal
to transfer
the Permit
other than to
Mada-Aust  or to
Mada-Aust  or
to any
other company,
 the shares
of which are in




     

     














  




      

      


    

 


 


majority
held
by Mada-Aust,
subject to
the fact
that the acquirer
signs
an agreement
deed to
the present
Sublease
Agreement
that recognizes
the rights
of ERG such as defined
in the present
Sublease
Agreement.


 


For
the exercising
of such
preemptive
right, any
proposal to
transfer
the Permit shall
be notified
in advance
to ERG
within
a period
of 30 days
at least
prior
to its
achievement
so that
ERG can
provide a bid.


 


If
ERG wishes
to exercise
such
preemptive
right,
ERG shall
give notice
to Mada-Aust
within
the


30
day period
referred
to above
to acquire
the Permit at
the price and
otherwise
on the
same terms
and conditions
offered to
Mada-Aust by the third
party.


 


If, within
a period of 30
days as
of the notification
date,
ERG does
not exercise
its preemptive right,
Mada-Aust may
transfer the Permit
to a third
party
on condition
that the
transferee signs an
agreement
deed to
the
present Sublease
Agreement that
recognizes the
rights of ERG
such as defined
in the
present
Sublease
Agreement.


 


Therefore, 
the  transferee 
shall  substitute
 Mada-Aust
 under 
the obligations  and
 conditions resulting
from the
present
Sublease
Agreement.


 


ERG
may,
by providing written
notice to Mada-Aust,
exclude
the Permit
from
the operation
of this Sublease
Agreement, provided:


 


(a)
ERG 
gives  two  months 
written 
notice  of its
intention  to
exclude 
the Permit
 from 
the operation
of this
Sublease
Agreement;
and


 


(b)
the costs
referred
to in
Article 6 are
up-to-date
and ERG
has paid
all rent and
taxes
applying
to the
Permit for 1
year, commencing
on the date
ERG gives written notice
of exclusion
of the Permit
under this
Article 7.


 


 


 


Article
8 : OTHER
MINERAL RIGHTS


 


8.1 
Holder
of the Permit
and Other
Mineral
Rights


 


The
parties agree and
acknowledge that
Mada-Aust
is:


 


(a)
subject to
the Permit
being transformed
in to an
exploitation
permit, the
registered
holder of the
Permit;
and


 


(b)
the sole holder
of the
Other Mineral
Rights,


 


and
no other
party has
any rights
in the
Permit or the
Other Mineral
Rights
other
than as
contemplated
by this
Sublease
Agreement.




     

     

    

 















  




 


 


 


8.2 
Priority of exercise
of Industrial
Mineral
Rights by ERG


 


Subject
to clause
8.4, Mada-Aust,
as the
holder of the
Other Mineral
Rights, and
ERG must consult,
co-operate
and otherwise
use all
reasonable
endeavours
not to interfere
with:


 


(a)
the exercise
of the Industrial
Mineral
Rights
by ERG;
and


 


(b)
the exercise
of the Other
Mineral
Rights
by Mada-Aust,


 


but
to the extent
such interference
cannot reasonably
be avoided,
the exercise
of the
Industrial Mineral
Rights by
ERG will have
priority.
 Without
limiting
the foregoing,
Mada-Aust,
as the holder
of the
Other Mineral Rights,
and ERG
must, prior
to the
commencement
of their respective
seasonal exploration
programmes
on the
Permit Area,
consult
with
each other as
to the contents
of those
programs and use reasonable
endeavours to ensure those
programs
are not incompatible.


 


8.3 
Exercise of
Other Mineral Rights
by Mada-Aust


 


In
the exercise
of the
Other
Mineral
Rights, Mada-Aust
must:


 


(a)
comply with
all applicable laws
and conditions
of grant of
the Permit;
and


 


(b)
not  do  or 
suffer  to 
be done  anything
 which
 will
 or  may 
render 
the Permit
 liable
 to cancellation
or forfeiture.


 


8.4 
Suspension
of Other
Mineral
Rights for
duration
of mining operations


 


Subject
to Article
8.7, upon
ERG making
a decision
to mine
in respect
of the
whole
or any
part of the Permit
Area, the
Other
Mineral
Rights of
Mada-Aust
will
be suspended
over the
relevant
mining area for the
duration of
the mining
operations the
subject of
that decision
to mine.


 


8.5
 Transfer
of Other
Mineral
Rights


 


Mada-Aust
may
transfer, assign or
otherwise
dispose of
the whole
or any part
of the Other


Mineral
Rights
to any
person
(OMR
Transferee)
subject to:


 


(a)
Mada-Aust
giving ERG
the opportunity to
match any bona
fide
third
party offer
for the Other
Mineral
Rights as
a right of first refusal
for a period
of 30 days from the
time of notice of the offer
from Mada-Aust;


 


(b)
the OMR
Transferee
being
technically
and financially
able to
perform the obligations
of Mada-Aust
as the holder
of the Other
Mineral Rights
under this Sublease
Agreement to the extent
of the interest disposed
of; and




     

     














  




      

      


    

 


(c)
the OMR
Transferee
entering
into an
agreement
deed
to the
present
Sublease Agreement that
recognize
the rights
of ERG such
as defined
under the present
Sublease
Agreement.


 


8.6
Transfer of
Industrial Mineral
Rights


 


ERG
may transfer,
assign
or otherwise
dispose
of the
whole
or any
part
of the
Industrial
Mineral


Rights to
any person
(IMR Transferee)
subject to:


 


(a)
ERG
giving
Mada-Aust
the opportunity to
match any bona fide
third
party offer
for the Industrial
Mineral Rights
as a right of
first refusal for
a period of 30
days
from the
time of notice
of the offer
from ERG;


 


(b)
the IMR
Transferee being
technically and
financially
able to perform
the obligations
of ERG as the
holder of the
Industrial
Mineral
Rights under this Sublease
Agreement to
the extent of the
interest disposed
of; and


 


(c)
the OMR
Transferee
entering
into
an agreement
deed
to the
present
Sublease Agreement that
recognize
the rights
of ERG such
as defined
under the present
Sublease
Agreement.


 


8.7 Co-mingling


 


(a)
If a deposit
of Industrial
Minerals
is co-mingled
or co-incident
to a
deposit
of Other
Minerals
then Mada-Aust
and ERG
will negotiate
in good faith
the terms on
which they
will jointly
develop the Industrial
Minerals and Other
Minerals,
provided
that,
subject to
Article
8.7(b),
in no circumstances will
the exploration
or development
of a deposit
of Other
Minerals
impede the exploration
or development
of a deposit
of Industrial
Minerals.


 


(b)
The development
of a deposit
of Other Minerals
that is
co-mingled or
co-incident
to a deposit
of Industrial Minerals
will prevail over
the exploration or development
of the deposit
of Industrial
Minerals
only in following circumstances:


 


(i)
 the
deposit
of Other
Minerals
has
been
determined
by a
competent
person to
be an
orebody
comprising
a resource or reserve
with a greater
net present value than
the deposit of Industrial
Minerals; and


 


(ii)
Mada-Aust
can demonstrate
to the satisfaction
of the ERG,
acting reasonably,
that the
deposit of Other
Minerals
can and
will be developed
and mined
within the
same timeframe
as ERG
proposes to
develop
and mine the
deposit of
Industrial Minerals.


 


In this
Article 8.7(b),
“reserve”,
“resource” and
“competent
person” have
the meanings ascribed
 to
those terms
in the
Australasian
 Code for
Reporting
 of Exploration
Results, Mineral Resources and Ore Reserves
prepared by the
Joint Ore Reserves
Committee
of the




     

     

    

 















  




 


 


Australasian
Institute of
Mining and Metallurgy,
Australian
Institute of Geoscientists
and


Minerals
Council of Australia
and known
as the JORC
Code.


 


(c)
Subject  to
 Article  8.7(d),
 if  Mada-Aust
 and  ERG 
are  unable  to 
negotiate
 the  joint development
of the
Industrial Minerals
and Other
Minerals,
then as part of
the development of
the Industrial Minerals ERG
will, on receiving
a written notification
from Mada-Aust,
stockpile the
Other Minerals
so that Mada-Aust may
have the benefit
of the development of the
Other Minerals
once ERG has ceased mining.


 


(d)
Any  stockpiling 
costs  associated 
with 
the development 
of  Industrial 
Minerals  (including overburden
and waste)
will be at the expense
of ERG. Any
costs associated
with the
stockpiling 
of Other  Minerals 
undertaken 
at  the 
request
 of Mada-Aust
 which  are 
not activities which
would have
been incurred
by ERG in
the course
of mining operations
in any event,
including
(but not
limited
to) any ongoing
environmental
compliance
costs, will be
funded 100% by
Mada-Aust.


 


 


 


Article 9
: RESPONSIBILITIES


 


ERG
only is responsible
for its
activities
resulting
from the
present Sublease
Agreement.
In no way
is ERG responsible
for the
activities of
Mada-Aust,
including with
respect
to the exercise
of the Other Mineral
Rights.


 


In addition,
in case of non observance
by ERG
of its obligations
towards the mining
administration
and at the
environmental level
as set
out in the
present
Sublease
Agreement, it commits
to indemnify Mada-Aust with regard
to any prejudice,
damage, loss and
costs resulting
from the non observance
of such obligations.


 


 


 


Article
10 : SUSPENSION
OF RIGHTS AND
TERMINATION


 


In
case of
termination
of the present
Sublease Agreement,
whether in
case of
failure
by either


Party
or upon expiration
of the
Sublease
Agreement:


 


(a)
the rights of
ERG resulting
from
the present
Sublease Agreement
shall cease
as a right;


 


(b)
similarly,
ERG shall
not be responsible
for any obligation
resulting from
the present
Sublease Agreement
except
for its
obligations
that are normally
due originating
from
facts prior
to the effectiveness
date of the
termination but
that the
latter could
not have
accomplished
on the termination
date; and


 


(c)
ERG
to the satisfaction
of the
government
departments
or authorities
involved
commits
itself to
discharge
any obligation and
responsibility
that would be imposed
on it by the legislation
and regulations
in force,
with
regard
to the environmental
rehabilitation
of the




     

     














  




      

      


    

 


areas
covered by the
Permit Area but
only to the
extent
that those obligations
and responsibilities
are the
result of operations
undertaken
by ERG,
its
authorized
officials, its
employees,
subcontractors
or agents.


 


 


 


Article 11:
DURATION
AND RENEWAL


 


The
present
Sublease Agreement
becomes effective
on the date
it is signed
and remains
valid
and in
force
for the
duration of the
term of
the Permit, including
the term
of any renewal
of the Permit
(“Term”).


 


Notwithstanding
what precedes,
the duration
of the
present Sublease
Agreement in so
far as it relates
to the Permit
will
expire where
the Permit
is excluded from
this Sublease
Agreement in accordance
with Article 7
of this Sublease Agreement.


 


If,
under the
relevant Mining
Law, the
Term is
unable to extend
to any
renewal
of the
Permit, Mada-Aust
undertakes
and agrees to
enter into a
further
sublease
agreement with
ERG for the
period of the renewal
of the Permit on
the same terms and
conditions
as the
current Sublease
Agreement.


 


This Sublease
Agreement terminates
immediately
upon the
occurrence of: (a)
any unanimous
agreement by Mada-Aust
and ERG
to that
effect;


(b)
ERG
ceasing to have
any rights to
any of the
Industrial Mineral
Rights;
and


 


(c)
Termination
under Article
12(b).


 


Article
12 : EVENT
OF DEFAULT


 


(a)
Should a
Party fail
to do,
execute or
perform any
material act
or thing
which such Party
is obliged to do,
execute or
perform pursuant
to this
Sublease
Agreement
(Event of Default),
the aggrieved
Party may give the defaulting
Party a notice
requiring the
defaulting Party to
remedy
such Event
of Default
within
a period of 30
days following
service
of the notice
or if such default
is not capable of
being remedied within
such period
of 30 days then
within such further
period
as the aggrieved
Party
or Parties shall deem
reasonable.


 


(b)
If a Party
serves
a notice of
default
under
Article 12(a)
and such
default
remains un-remedied
upon expiry of the
period specified
in such
notice for
rectification,
the aggrieved
Party may
terminate
this Sublease
Agreement forthwith
upon the service
of a further notice in writing to
that
effect
and upon
the service
of such
further
notice
this Sublease
Agreement shall
terminate
forthwith
without
prejudice
to the rights
and
remedies of the aggrieved
Party at law
or otherwise
howsoever arising.




     

     














  




      

      


    

 


(c)
Article
12(a) does
not apply
to any
Event
of Default
for which
another
remedy
is provided
in this
Agreement.


 


 


 


Article
13 : INSURANCE


 


If
necessary,
ERG,
at its expense,
shall contract
and maintain
in force
insurance
policies
with insurance
companies
of international
renown which
are represented
in Madagascar
to cover the risks
against damages,
losses
or injuries
and damages
on the
environment.


 


In addition,
ERG commits
to transfer
to Mada-Aust
any proceeds
that it
may receive
under such insurance
policies,
up to
the amount
payable for damages
potentially
suffered by Mada-Aust. One
copy of
each insurance
policy
and its rider, as well as of the delegation
contract
shall be
transmitted
to Mada-Aust each
year.


 


Article
14 : FORMALITIES
– REGISTRATION
FEES


 


The
Parties
expressly agree
that the
registration fees of the
present Sublease
Agreement and
the related administrative
formalities
shall be
taken care
of 50%
by ERG
and 50%
by Mada-Aust.


 


 


 


Article
15 : LAW
IN FORCE - DISPUTES


 


The
present Agreement
is governed
by the
law in Madagascar.


 


Any
dispute
arising under
the execution
of the present
Sublease Agreement
and that may
not be resolved
by agreement
by the Parties
will be submitted
in a first
time to a
conciliation.
In the case
when no agreement
has been
able to
be reached
within a period
of 3 months,
the dispute
will be referred
to an
arbitration
court.


 


The arbitration
court
is made up
of three
arbitrators,
each party
designating
an arbitrator and
the two arbitrators
thus designated
designate
the third.
However,
the Parties
may agree between
them to designate
one single arbitrator. The
arbitrators are compulsorily natural
people.


 


Conciliation
and arbitration
shall be
conducted
in accordance
with the
Rule
of conciliation
and arbitration
of the International
Chamber
of Commerce.


 


The 
arbitration
 will  take
 place 
in  the  English
 language  and 
the  arbitration
 place  will 
be


Antananarivo.




     

     














  




      

      


    

 


Article 16
: CHOICE OF
RESIDENCE


 


For the
execution of the
present Sublease
Agreement,
the Parties
declare
that they
elect domicile at
the respective
head offices
of their companies.


 


Drawn up
in (5)
copies in Antananarivo,
on this
 .


 


For Mada-Aust
For ERG


 


 


 


 


 


Jean Luc
Marquetoux
Roland Fok-Seung


Manager
Manager


 


 


 


 


Kirk
McKinnon


Manager


 


 


 


 


Richard
Schler


Manager




     

     














  




      

      


    

 


ANNEX
A


 


List
of the minerals
that are the
objects of the
present Sublease
Agreement


 


Vanadium Lithium
Aggregates
Alunite
Barite Bentonite
Vermiculite Carbonatites
Corundum


Dimension
stone, other
than labradorite
Feldspar, other
than labradorite
Fluorspar


Granite


Graphite
Gypsum Kaolin Kyanite


Limestone
/ Dolomite


Marble Mica
Olivine
Perlite
Phosphate


Potash
– Potassium
minerals


Pumice Quartz
Staurolite Zeolites




     

     














  




      

      


    

 


 


ANNEX
B


 


Permit
Area


 


 


 


[To
be inserted
at the time the sublease is entered into]