Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Cathay Merchant Group, Inc. - Exhibit 10.16

English Translation 

1st Amendment of the Lease from 1-2
September 2004 
effective as of 1 March 2007 

	Between the 	GSA Grunstücksfonds Sachsen-Anhalt GmbH
    
	  	Kantstraße 5, 39104 Magdeburg 
	  	  
	  	Represented by the Managing Director
      Klaus-Dieter Theise 
	  	  
	  	Acting in his own name, but as the fiduciary
      mandate and on account of the 
	  	State of Saxony-Anhalt 
	  	- lessor - 
	And the 	MAW Mansfelder Aluminiumwerk GmbH 
	  	Lichtlöcherberg 40, 06333 Hettstedt 
	  	  
	  	Represented by the managing directors Harald
      Springer and Jürgen Eger 
	  	- lessee - 

Agree to the following amendments/supplements to the lease of
1-2 September 2004 as of 1 March 2007: 

1          
Art. 1 (Object of Lease) paragraph 1 will be modified as follows: 

The industrial property of the former company property of the
Aluhett Aluminiumwerk GmbH in Großörner, a section of the property listed in the
Land Register of Großörner, sheet 1424 under no. 1, land parcel 271, land 2
along with buildings – in the attached map = Appendix 1 in yellow
(“company property”). The company property consists of the following
(unsurveyed) area: 

Sheet 1424 no.
1                              
Land
2                              
Land parcel
271                              
(ca.) 30,977 m2

2          
Art. 2 (Term of Lease) paragraph 1 will be modified as follows: 

The lease ends, as long as it is not extended or prematurely
terminated in accordance with the conditions of this paragraph, on 31 December
2015. It is possible at the earliest and exclusively for the tenant to terminate
the lease at 31 December 2009 with a period of notification of three months. If
the lease is not terminated by a party at 31 December 2015 with a notification
period of six months, the lease will be considered to be concluded for an
undetermined period of time and can be terminated by either party with a
notification period of six months to the end of the specific year of the lease.

3          
Art. 3 (Rent and Secondary Costs) paragraph 1 and paragraph 6 will be modified
as follows: 

1.          The rent
for the lease object consists of a basic monthly rent and the secondary costs
(together “rent”). 

The secondary costs are determined in
accordance with the Operating Costs Directive (BetrKVO) in the version
applicable since 2004. The allocable costs and the costs included in the lump
sum are shown in nos. 1 to 17 of the Appendix 3 of this agreement. They
are to be paid on a monthly basis as a lump sum. An annual settlement will not
be made. 

English Translation 

As of 1 March 2007 the monthly rent is:

	 	Basic monthly rent: 	EUR 15,475.00 
	 	Secondary costs: 	EUR 1,084.20 
	 	  	  
	 	Total rent: 	EUR 16,559.20 

		
      (In words: sixteen-thousand, five-hundred and fifty-nine
      20/100 euros)

	 	 
	6. 	
      For the period starting 1 January 2010 the following will
      apply:

	 	 
		
      Should the “Consumer Index for Germany” published by the
      Statistisches Bundesamt base year 2000 = 100, change by more than 2.5%
      compared to the value in column “Overall Index” for January 2009, the
      contractual partners may request an adjustment of the rent effective 1
      January 2010. The criterion for the adjustment is the percentage change of
      the Index.

	 	 
		
      In the subsequent period a further adjustment may be
      requested with the same deadline of 1 January each year, if the published
      value has changed by more than 2.5% from the previously adjusted
    value.

	 	 
		
      Should the consumer price index agreed upon here no
      longer be continued, a valid cost of living index will be applied that is
      comparable to the agreed upon index.

	4 	
      Art. 8 (Contractual Use, Transfer to Third Parties)
      paragraph 4 will be modified as follows:

	 	 
		
      A subletting is only permitted for the purpose of
      exercising the usage as per Art. 1 No. 4 and requires the prior written
      approval of the lessor. The tenant is not authorized to transfer the
      rights from this lease or allow the transfer to third parties without the
      approval of the lessor.

	 	 
		
      In case of unauthorized transfer of use the tenant is
      obligated to terminate this immediately. The lessor retains the right to
      sue for damages for the unauthorized transfer of use and the right to an
      extraordinary cancellation.

	5 	
      Art. 16 (Vehicle Scale, 20-kV Station, Gas Station,
      Parking Areas, Washroom and Changing Facilities in the Administration
      Building, Annealing Furnace with Batch Equipment Bldg. 6, Transverse Plant
      II Bldg. 6) will be modified as follows:

Art. 16 
Vehicle Scale, Gas Station, Parking Areas,

Washroom and Changing Facilities

	1. 	
      The tenant is granted the sole, cost-free use of the
      following objects/equipment: Gas station on the lease object Gas station
      (in blue) Vehicle scales (yellow) Car park (green) Washroom and changing
      rooms in administration building.

	 	 
	2. 	
      The lessor is obligated to guarantee the functionality of
      the objects/equipment as per no. 1. The lessor is not liable for damages
      in connection with the use of the objects/equipment, unless the lessor
      acts with malicious intent or gorss negligence.

All other provisions of the lease from 1-2 September 2004
remain in affect and unchanged and are not affected by these
amendments/supplements 

	Magdeburg 11 April 07 	 	Hettstedt 11 April 07 
	GSA Grundstücksfonds 	 	MAW Mansfelder Aluminiumwerk GmbH 
	Sachsen-Anhalt
      GmbH 	 	 
	K.-D. Theise 	 	H
      Springer                                                  
      J. EgerFiled by Automated Filing Services Inc. (604) 609-0244 - Cathay Merchant Group, Inc. - Exhibit 10.17

English Translation 

1st Amendment of the Lease from 25
September 2004 

	Between the 	GSA Grundstücksfonds
      Sachsen-Anhalt GmbH 
	  	Kantstraße 5, 39104 Magdeburg
  
	  	 
	 	Represented by the
      Managing Director Klaus-Dieter Theise 
	  	 
	  	acting in his own name, but as
      the fiduciary mandate and on account of the State of 
	  	Saxony-Anhalt 
	  	- lessor - 
	  	 
	  	 
	And the 	AFM aluminiumfolie Merseburg GmbH
      August-Bebel-Straße 1, 
	  	06217 Merseburg 
	  	 
	  	Represented by the managing
      directors Bernd Gebhardt and Peter Ruhle 
	  	- lessee -

Each individually a “party“ and together the
“parties“ 

Preamble: 

The lessee acquired the property and the mobile and immobile
assets of FWM Folienwerk Merseburg GmbH i.I. in accordance with the fiduciary
mandate of the State of Saxony-Anhalt. The lessor is acting in its own name, but
as mandated and on the account of the State of Saxony-Anhalt. 

In August-Bebel-Straße in Merseburg (“site”) the
Folienwerk Merseburg GmbH i.I. ran a foil rolling mill consisting of a rolling
mill (“rolling mill”) and a refiner (“refiner”). With the lease of
26 September 2002 the lessor leased the rolling mill, and the areas of the site
associated with it, to the lessee. The refiner and the areas of the site
associated areas were leased to the company Flex –Team GmbH Flexible
Verpackungen (“Flex-Team”). After Flex-Team moved its operations away
from Merseburg and left the site, the parties concluded the lease of 25
September 2004 for additional areas and buildings at the site. 

The parties amended the lease form 25 September 2004 as
follows: 

Art. 2 Section 1 (Term of Lease, Handover) will be amended
as follows: 

1. The lease ends, if it is not extended or prematurely
terminated in accordance with the provisions of this section, on 31 December
2015. For the first time and only on 30 September 2007 and 31 December 2009 may
the lease be cancelled by the lessee on 30 September 2007 and 31 December 2009,
respectively, with a notification period of three months. If the lease
relationship is not cancelled by either party for 31 December 2015 with a
notification period of 6 months, the lease will be considered as concluded
indefinitely and may be cancelled by either party to the end of the current year
of the lease with a notification period of 6 months. Notifications of
cancellation must be made in writing to be effective. 

The following Art. 2 Section 3 will be added: 

3. The following will apply for the period after 1 January
2010: 

Should the “Consumer Index for Germany” published by the
Statistisches Bundesamt base year 2000 = 100, change by more than 2.5% compared
to the value in column “Overall Index” for January 2009, the contractual
partners may request an adjustment of the rent effective 1 January 2010. The
criterion for the adjustment is the percentage change of the Index. 

In the subsequent period a further adjustment may be requested
with the same deadline of 1 January each year, if the published value has
changed by more than 2.5% from the previously adjusted value. 

English Translation 

Should the consumer price index agreed upon here no longer be
continued, a valid cost of living index aill be applied that is comparable to
the agreed upon index. 

All other provisions of the lease from 1-2 September 2004
remain in affect and unchanged and are not affected by these
amendments/supplements 

	Magdeburg 11 April 07 	 	Merseburg 11 April 07 
	GSA Grundstücksfonds 	 	AFM aluminiumfolie merseburg GmbH 
	Sachsen-Anhalt
      GmbH 	 	 
    
	K.-D. Theise 	 	Bernd Gebhardt and Peter RuhleFiled by Automated Filing Services Inc. (604) 609-0244 - Cathay Merchant Group, Inc. - Exhibit 10.18

English Translation 

1st Amendment of the Lease from 26
September 2002 

	Between the 	GSA Grunstücksfonds
      Sachsen-Anhalt GmbH 
	  	Kantstraße 5, 39104 Magdeburg
  
	  	  
	  	Represented by the Managing
      Director Klaus-Dieter Theise 
	  	  
	  	acting in his own name, but as
      the fiduciary mandate and on account of the State of 
	  	Saxony-Anhalt 
	  	- lessor - 
	  	  
	  	  
	  	  
	And the 	AFM aluminiumfolie Merseberg GmbH
      August-Bebel-Straße 1, 
	  	06217 Merseburg 
	  	  
	  	Represented by the managing
      directors Bernd Gebhardt and Peter Ruhle 
	  	- lessee -

The lease of 26 September 2002 will be amended as follows: 

No. 5.01 (Term of Lease):

The lease ends, if it is not extended or prematurely terminated
in accordance with the provisions of this section, on 31 December 2015. For the
first time and only on 31 December 2009 may the lease be cancelled by the lessee
on 31 December 2009, with a notification period of three months. If the lease
relationship is not cancelled by either party for 31 December 2015 with a
notification period of 6 months, the lease will be considered as concluded
indefinitely and may be cancelled by either party to the end of the current year
of the lease with a notification period of 6 months. Notifications of
cancellation must be made in writing to be effective. 

The following No. 5.04 will be added:

5.04 The following will apply for the period after 1 January
2010: 

Should the “Consumer Index for Germany” published by the
Statistisches Bundesamt base year 2000 = 100, change by more than 2.5% compared
to the value in column “Overall Index” for January 2009, the contractual
partners may request an adjustment of the rent effective 1 January 2010. The
criterion for the adjustment is the percentage change of the Index. 

In the subsequent period a further adjustment may be requested
with the same deadline of 1 January each year, if the published value has
changed by more than 2.5% from the previously adjusted value. 

Should the consumer price index agreed upon here no longer be
continued, a valid cost of living index aill be applied that is comparable to
the agreed upon index. 

All other provisions of the lease from 1-2 September 2004
remain in affect and unchanged and are not affected by these
amendments/supplements 

	Magdeburg 11 April 07 	 	Merseburg 11 April 07 
	GSA Grundstücksfonds 	 	AFM aluminiumfolie merseburg GmbH 
	Sachsen-Anhalt
      GmbH 	 	 
    
	K.-D. Theise 	 	Bernd Gebhardt and Peter Ruhle

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