Document:

Indemnity to Guarantor Agreement between Sunbeam and Geoff Loudon

 Exhibit 10.24 
  
 INDEMNITY TO GUARANTOR 
  
 THIS AGREEMENT made as at the 7th day
of January, 2004. 
  
 WHEREAS the Peru Copper Syndicate S.A., a Peruvian
corporation, (called “PCS S.A.”) on or about June 6, 2003 entered into an agreement with Empresa Minera Del Centro Del Peru S.A. (called “Centromin”) regarding a transfer contract for the transfer of certain mining concessions,
land, building, licenses and information (called the “Toromocho Option Contract”); 
  
 AND WHEREAS PCS S.A. is a Peruvian corporation that is owned by Peru Copper Syndicate, Ltd., a Cayman Island corporation, (called “PCSL”) and PCSL is owned by Lowell Mineral Exploration, L.L.C., as to 25%,
La Ermita Ltda., as to 25%, Sunbeam Opportunities Limited, as to 25%, Fisherking Holdings Ltd., as to 15%, and Catherine McLeod-Seltzer, as to 10%; 
  
 AND WHEREAS section 7.6 of the Toromocho Option Contract requires that PCS S.A., as a guarantee of faithful compliance, deliver to Centromin a bank guarantee in favor of
Centromin for the sum of U.S.$2 million (called the “Bank Guarantee”), valid for a period of not less than 14 months from the date of execution of the Toromocho Option Contract; 
  
 AND WHEREAS Lowell Mineral Exploration, L.L.C. an Arizona limited liability company and J. David Lowell and Edith S. Lowell, husband and
wife (collectively called the “Guarantor”) agreed to provide, and did provide, the Bank Guarantee to facilitate the compliance by PCS S.A. with the terms and conditions of the Toromocho Option Contract; 
  
 AND WHEREAS it was not the intention of the shareholders of PCSL that the Bank Guarantee
should be the sole obligation of the Guarantor but rather that the obligation to provide the Bank Guarantee should be allocated amongst the shareholders of PCSL in accordance with their respective shareholdings in PCSL until such time as PCSL is
able to provide the Bank Guarantee; 
  
 FOR VALUE RECEIVED I, Geoff Loudon, both
in my capacity as the authorized signatory for Sunbeam Opportunities Limited and in my personal capacity (collectively called the “Indemnifier”), each of 16 Eaton Mews 

  

 
North, London, United Kingdom SW1X 8AR, fax: 44-(0)20-7245 0921, e-mail loudons@attglobal.net HEREBY COVENANT, UNDERTAKE AND AGREE that if as a result of the
Bank Guarantee the Guarantor is required to pay any money to Centromin as a penalty (called the “Penalty Payment”) in accordance with the terms of the Toromocho Option Contract then I, the Indemnifier, will immediately pay to the Guarantor
my pro rata share of the Penalty Payment, based upon my shareholdings in PCSL at such time as the Penalty Payment is made by the Guarantor. 
  
 If the Indemnifier fails to perform its obligations hereunder, the Guarantor will have the election to either (1) institute legal action to collect any funds that have
not been contributed in support of the indemnification required hereunder or (2) treat such failure as a failure to contribute funds under an approved budget and call for funds under the provisions of Sections 6.2 and 6.3 of the Mining Venture
Agreement. 
  
 This Agreement will terminate and be of no further force or effect
upon the Guarantor being unconditionally released from the Bank Guarantee. 
  
 This Agreement will be construed by the internal laws but not the laws of conflict of the State of Arizona and the parties consent to the jurisdiction of the courts of the State of Arizona for the purposes of resolution of any dispute
hereunder. 
  
 This rights and obligations under this Agreement will not be
assignable without the prior written consent of the Guarantor which consent may be withheld in the sole discretion of the Guarantor. 
  
 Any notices under this Agreement will be sent to the address specified herein by courier, fax, or e-mail and notice will be effective upon actual receipt as evidenced by
a return receipt or by confirmation to the sender by the recipient of the receipt of a fax or e-mail. 
  

			
	SUNBEAM OPPORTUNITIES LTD.
		
	By:	 	 
	 	 	 Geoff Loudon, Director

  

			
	 GEOFF LOUDON, in my personal capacity

  

 2 

			
	AUSTRALIA	  	)
	 	  	)        ss.
	STATE OF
                                        
        	  	)

  
 On this
     day of
                                       
 , 200   the undersigned
                                , Notary Public of the City of
                        , Australia by Royal Authority duly admitted and sworn, practicing in the said City, there
personally appeared Archibald Geoffrey LOUDON, who identified himself to me by means of his              Passport number
            , and signed the foregoing instrument in my presence, acknowledging to me that he signed the same in his capacity both as a Director of a British Virgin Islands
corporation styled SUNBEAM OPPORTUNITIES LIMITED and, in his personal capacity, for the use and purposes therein mentioned and contained. 
  
 Notary Public 
  

 3Promise to Pay Interest Agreement between La Ermita Ltda. and Luis Baertl

 Exhibit 10.25 
  
 PROMISE TO PAY INTEREST 
  
 THIS AGREEMENT made as at the 7th day of January, 2004. 
  
 WHEREAS Lowell Mineral Exploration, L.L.C. an Arizona limited liability company and J. David Lowell and Edith S. Lowell, husband and wife (collectively called the
“Guarantor”) has provided cash and/or securities in the sum of $2 million to facilitate the issuance of a bank guarantee (called the “Bank Guarantee”) to Empresa Minera Del Centro Del Peru S.A. (called “Centromin”)
pursuant an agreement dated on or about June 6, 2003 entered into between Peru Copper Syndicate S.A., a Peruvian corporation and Centromin regarding a contract for the transfer of certain mining concessions, land, building, licenses and information
(called the “Toromocho Option Contract”); 
  
 AND WHEREAS the Mining
Venture Agreement effective October 1, 2002, as amended, has been adopted as the by-laws of the Peru Copper Syndicate, Limited, a Cayman Islands corporation, the parent corporation of Peru Copper Syndicate S.A.; 
  
 AND WHEREAS the undersigned has agreed to pay interest to the Guarantor in consideration of
the Guarantor providing the collateral in support of the Bank Guarantee as required under the Toromocho Option Contract which interest will be paid so long as the Guarantor provides the collateral and is liable under the Bank Guarantee. 

 
 FOR VALUE RECEIVED I, Luis J. Baertl, both in my capacity as the authorized signatory for
La Ermita Ltda. and in my personal capacity (collectively called the “Payor”), each of Av. Suecia 0119, Oficina 609, Providencia, Santiago, Chile, fax: (56-2) 231-8655, e-mail luisjbaertl@entelchile.net promise to pay to the order of the
Guarantor, interest on the sum of Five Hundred Thousand dollars ($500,000) at the rate of 12% per annum being the sum of Sixty Thousand dollars ($60,000) per annum, from and including the 6th day of June, 2003 to and including the day on which the Guarantor has been unconditionally released from any and all obligations under the Bank Guarantee.

  
 The action of the Guarantor in providing the collateral in support of the Bank
Guarantee required by the Toromocho Option Contract will be considered to be a loan to the Venture in the amount of 75% of any 

  

 
obligations incurred by the Guarantor as a result of such Bank Guarantee. This Promise to Pay Interest reflects the individual obligation of the Payor to the
benefit of the Guarantor as a result of the undertaking by the Guarantor of the obligations under the Bank Guarantee. 
  
 If the Payor fails to perform its obligations hereunder, such failure will be deemed to be a failure to contribute funds under an approved budget and call for funds under
the provisions of Sections 6.2 and 6.3 of the Mining Venture Agreement. 
  
 The
Payor will pay the interest on an annual basis with the initial payment being due on the 5th day of June, 2004 and
every 12 months thereafter or up until the Guarantor is unconditionally released from the Bank Guarantee. 
  
 Any and all references to dollars and $ herein are to lawful currency of the United States. 
  
 This Agreement will be construed by the internal laws but not the laws of conflict of the State of Arizona and the parties consent to the jurisdiction of the courts of
the State of Arizona for the purposes of resolution of any dispute hereunder. 
  
 This rights and obligations under this Agreement will not be assignable without the prior written consent of the Guarantor which consent may be withheld in the sole discretion of the Guarantor. 
  
 Any notices under this Agreement will be sent to the address specified herein by courier,
fax, or e-mail and notice will be effective upon actual receipt as evidenced by a return receipt or by confirmation to the sender by the recipient of the receipt of a fax or e-mail. 
  

			
	LA ERMITA LTDA.
		
	By:	 	 
	 	 	 Luis J. Baertl, President

  

			
	 LUIS J. BAERTL, in my personal capacity

  

 2 

			
	CITY OF	  	)
	 	  	)        ss.
	STATE OF	  	)
	 	  	)

  
 The foregoing instrument was
acknowledged before me this                              day of
                     , 200  , by Luis J. Baertl dealing in both his capacity as President and authorized
signatory of La Ermita Ltda. a limited liability company established under the laws of the Republic of Chile and, in his personal capacity. 
  
 Notary Public 
  

 3Indemnity to Guarantor Agreement between La Ermita Ltda. and Luis Baertl

 Exhibit 10.26 
  
 INDEMNITY TO GUARANTOR 
  
 THIS AGREEMENT made as at the 7th day of January, 2004. 
  
 WHEREAS the Peru Copper Syndicate S.A., a Peruvian corporation, (called “PCS S.A.”) on or about June 6, 2003 entered into an agreement with Empresa Minera Del
Centro Del Peru S.A. (called “Centromin”) regarding a transfer contract for the transfer of certain mining concessions, land, building, licenses and information (called the “Toromocho Option Contract”); 
  
 AND WHEREAS PCS S.A. is a Peruvian corporation that is owned by Peru Copper Syndicate, Ltd.,
a Cayman Island corporation, (called “PCSL”) and PCSL is owned by Lowell Mineral Exploration, L.L.C., as to 25%, La Ermita Ltda., as to 25%, Sunbeam Opportunities Limited, as to 25%, Fisherking Holdings Ltd., as to 15%, and Catherine
McLeod-Seltzer, as to 10%; 
  
 AND WHEREAS section 7.6 of the Toromocho Option
Contract requires that PCS S.A., as a guarantee of faithful compliance, deliver to Centromin a bank guarantee in favor of Centromin for the sum of U.S.$2 million (called the “Bank Guarantee”), valid for a period of not less than 14 months
from the date of execution of the Toromocho Option Contract; 
  
 AND WHEREAS
Lowell Mineral Exploration, L.L.C. an Arizona limited liability company and J. David Lowell and Edith S. Lowell, husband and wife (collectively called the “Guarantor”) agreed to provide, and did provide, the Bank Guarantee to facilitate
the compliance by PCS S.A. with the terms and conditions of the Toromocho Option Contract; 
  
 AND WHEREAS it was not the intention of the shareholders of PCSL that the Bank Guarantee should be the sole obligation of the Guarantor but rather that the obligation to provide the Bank Guarantee should be allocated
amongst the shareholders of PCSL in accordance with their respective shareholdings in PCSL until such time as PCSL is able to provide the Bank Guarantee; 
  
 FOR VALUE RECEIVED I, Luis J. Baertl, both in my capacity as the authorized signatory for La Ermita Ltda. and in my personal capacity (collectively called the
“Indemnifier”), each of Av. Suecia 0119, Oficina 

  

 
609, Providencia, Santiago, Chile, fax: (56-2) 231-8655, e-mail luisjbaertl@entelchile.net HEREBY COVENANT, UNDERTAKE AND AGREE that if as a result of the
Bank Guarantee the Guarantor is required to pay any money to Centromin as a penalty (called the “Penalty Payment”) in accordance with the terms of the Toromocho Option Contract then I, the Indemnifier, will immediately pay to the Guarantor
my pro rata share of the Penalty Payment, based upon my shareholdings in PCSL at such time as the Penalty Payment is made by the Guarantor. 
  
 If the Indemnifier fails to perform its obligations hereunder, the Guarantor will have the election to either (1) institute legal action to collect any funds that have
not been contributed in support of the indemnification required hereunder or (2) treat such failure as a failure to contribute funds under an approved budget and call for funds under the provisions of Sections 6.2 and 6.3 of the Mining Venture
Agreement. 
  
 This Agreement will terminate and be of no further force or effect
upon the Guarantor being unconditionally released from the Bank Guarantee. 
  
 This Agreement will be construed by the internal laws but not the laws of conflict of the State of Arizona and the parties consent to the jurisdiction of the courts of the State of Arizona for the purposes of resolution of any dispute
hereunder. 
  
 This rights and obligations under this Agreement will not be
assignable without the prior written consent of the Guarantor which consent may be withheld in the sole discretion of the Guarantor. 
  
 Any notices under this Agreement will be sent to the address specified herein by courier, fax, or e-mail and notice will be effective upon actual receipt as evidenced by
a return receipt or by confirmation to the sender by the recipient of the receipt of a fax or e-mail. 
  

			
	 LA ERMITA LTDA.

		
	By:	 	 
	 	 	 Luis J. Baertl, President

  

			
	 LUIS J. BAERTL, in my personal capacity

  

 2 

			
	CITY OF	  	)
	 	  	)        ss.
	STATE OF	  	)
	 	  	)

  
 The foregoing instrument was
acknowledged before me this              day of
                                        ,
200  , by Luis J. Baertl dealing in both his capacity as President and authorized signatory of La Ermita Ltda. a limited liability company established under the laws of the Republic of Chile and, in his personal capacity.

  
 Notary Public 
  

 3

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