Document:

EXHIBIT 10.18(1)

                                The Mocatta Group

                                  April 9, 1996

Advanced Metallurgy, Inc.
Murray Corporate Park
1003 Corporate Drive
Export, PA 15362

Gentlemen/Mesdames:

      In consideration of the Silver Lease Agreement between you and us dated as
of April __, 1996 (the "Agreement"), you hereby confirm and agree that (i) as of
the date hereof you have no Material (as defined in the Agreement) outstanding
under any lease, consignment, loan or similar agreement or arrangement with
Rhode Island Hospital Trust National Bank ("Rhode Island") or Degussa
Corporation ("Degussa"), (ii) you have requested each of Rhode Island and
Degussa to terminate all UCC financing statements and continuation statements at
any time filed by it in respect of Material leased, consigned, borrowed or
otherwise used or obtained by you and shall use your best efforts to confirm
that such statements are promptly terminated and provide us with evidence of
such termination as promptly as possible, (iii) for as long as the Agreement
remains in effect you shall not lease, consign, borrow or otherwise use or
obtain Material from Rhode Island or Degussa unless all UCC statements
previously filed by Rhode Island or Degussa, as the case may be, have been
terminated and (iv) you shall not permit Rhode Island or Degussa to file
financing statements with respect to Material without notice to us and our
consent as required by the Agreement. A breach of this letter agreement shall be
an Event of Default under the Agreement, and we shall have the rights and
remedies available to us upon the occurrence of such Event.

      Please return a signed copy of this letter to us at the address shown
below to indicate your confirmation of and agreement to the foregoing. We look
forward to a successful relationship.

                                     Very truly yours,

                                     STANDARD CHARTERED BANK - MOCATTA
                                     BULLION, NEW YORK

                                     By: /s/ Timothy P. Dinneny
                                        --------------------------------------
                                     Name: Timothy P. Dinneny
                                     Title: Senior Vice President

                                     By:  /s/ Randy M. Weinerman
                                        --------------------------------------
                                     Name: Randy M. Weinerman
                                     Title: Vice President

Confirmed and agreed:
ADVANCED METALLURGY, INC.

By: /s/ James J. Rafferty, Sr.
   ----------------------------
Name:  James J. Rafferty, Sr.
Title: PresidentEXHIBIT 10.18(2)

                               Standard Chartered

                                THE MOCATTA GROUP

                                February 14, 1997

Advanced Metallurgy, Inc.
Murray Corporate Park
1003 Corporate Drive
Export, PA  15362
Attention:  Vice President of Purchasing and Distribution

      Re: Silver Lease Agreement dated April 9, 1996

Gentlemen:

Reference is made to the above Silver Lease Agreement between Standard Chartered
Bank, Mocatta Bullion - New York and Advanced Metallurgy, Inc.

Please be advised that we have agreed to make the following amendments to the
above Silver Lease Agreement as follows:

Paragraph 2. NATURE OF TRANSACTIONS change "six hundred thousand (600,000)" to
"one million (1,000,000)" and change "one million (1,000,000)" to "two million
(2,000,000)"

Paragraph 6. EARLY TERMINATION change "six hundred thousand (600,000)" to "one
million (1,000,000)"

Paragraph 12. SECURITY change "seven million dollars ($7,000,000," to "fourteen
million dollars ($14,000,000,"

Paragraph J. Default I.4, is amended in its entirety to now read as follows:

"4. Lessee or Guarantor materially defaults under any material agreement and any
banking facility or receives notice of default or notice of impending default,
or suspend or ceases or threatens to suspend or cease to carry on its business
or a substantial part thereof, and (i) such default remains unremedied by the
Lessee or Guarantor or (ii) Lessee or Guarantor resumes such suspension or
cessation of its business or rescinds such threat, as the case may be, within
two Business Days thereafter and, in the case of (i) or (ii) such circumstance
has or will have, in the reasonable opinion of Standard Chartered Bank, a
material adverse effect on the businesses or prospects of the Lessee or
Guarantor, or"

All other terms and conditions will remain intact.

<PAGE>

                                                                EXHIBIT 10.18(2)

Please return a signed copy of this letter to us at the address shown below to
indicate your agreement to the above amendments.

                                        Very truly yours,

                                        STANDARD CHARTERED BANK,
                                        MOCATTA BULLION NEW YORK

                                        By:  /s/ Timothy P. Dinney
                                           -----------------------------------
                                        Name:  Timothy P. Dinneny
                                        Title: Executive Vice President

                                        By:   /s/ Randy M. Weinerman
                                           -----------------------------------
                                        Name:  Randy M. Weinerman
                                        Title: Vice President

AGREED:

ADVANCED METALLURGY, INC.

By:   /s/ James J. Rafferty, Jr.
    --------------------------------
Name:  James J. Rafferty, Jr.
Title: PresidentEXHIBIT 10.18(3)

                               Standard Chartered

                                THE MOCATTA GROUP

                                                              November 3, 1997

Advanced Metallurgy, Inc.
Murray Corporate Park
1003 Corporate Drive
Export, PA  15362
Attention:  Vice President of Purchasing and Distribution

      RE:   Silver Lease Agreement dated April 9, 1996 (as last amended
            February 14, 1997)

Gentlemen:

Reference is made to the above Silver Lease Agreement between Standard Chartered
Bank, Mocatta Bullion - New York and Advanced Metallurgy, Inc.

Please be advised that we have agreed to make the following amendment to the
above Silver Lease Agreement as follows:

Paragraph 2. NATURE OF TRANSACTIONS change "two million (2,000,000)" to "two
million six hundred thousand (2,600,000)"

All other terms and conditions remain intact.

<PAGE>

                                                                EXHIBIT 10.18(3)

Please return a signed copy of this letter to us at the address shown below to
indicate your agreement to the above amendment.

                                    Very truly yours,

                                    STANARD CHATERED BANK,
                                    MOCATTA BULLION - NEW YORK

                                    By:  /s/ Timothy P. Dinneny
                                       ----------------------------------------
                                    Name:  Timothy P. Dinneny
                                    Title: Executive Vice President

                                    By:   /s/ Randy M. Weinerman
                                       ----------------------------------------
                                    Name: Randy M. Weinerman
                                    Title: Vice President

AGREED:

ADVANCED METALLURGY, INC.

By:   /s/ Raymond J. Matsey
   -------------------------------
Name:  Raymond J. Matsey
Title: Material Control ManagerEXHIBIT 10.18(4)

ScotiaMocatta

                                                   May 21, 2003

AMI Doduco, Inc.
Murray Corporate Park
1003 Corporate Drive
Export, PA  15362

Re: Amendment to Silver Lease Agreement dated April 9, 1996 (as last amended
November 3, 1997)

Reference is made to the subject Silver Lease Agreement between The Bank of Nova
Scotia and AMI Doduco, Inc.

Please be advised that we have agreed to make the following amendment to the
above Silver Lease Agreement as follows:

Section I. Negative Covenants in Appendix A is rewritten in its entirety to now
read as follows:

      "I.   Negative Covenants. Lessee covenants and agrees that, until the
            satisfaction in full of all of Lessee's obligations to Lessor
            hereunder, Lessee will not, directly or indirectly, (i) create,
            incur, assume or suffer to exist any pledge, lien, security interest
            or other encumbrance of any nature whatsoever, on any of the
            Material other than any security interest granted to Lessor; (ii)
            sell, lease, transfer or otherwise dispose of all or any portion of
            the Material, except in the ordinary course of its business; (iii)
            dissolve or liquidate; or (iv) guarantee or otherwise in any way
            become or be responsible for obligations of any other person.
            Notwithstanding the previous sentence, Lessee may from time to time
            guarantee the obligations of (1) Guarantor or other entities
            controlled by Guarantor, or (2) third parties, in the ordinary
            course of business which in the aggregate do not exceed $20,000,000
            (twenty million dollars) at any one time; provided, that, the
            issuance of any such guarantees shall not, individually or in the
            aggregate, have a material adverse effect on the business or
            prospects of Lessee."

<PAGE>

                                                                EXHIBIT 10.18(4)

All other terms and conditions of the Silver Lease Agreement are to remain in
full force and effect. Please return a signed copy of this letter to us at the
address shown above to indicate your agreement to the above amendment.

                                       Very truly yours,

                                       THE BANK OF NOVA SCOTIA

                                       By:      /s/ Joseph A. Lasiewski
                                                -----------------------------
                                                Joseph A. Lasiewski
                                                Director-Metals Operations

                                       By:      /s/ Randy M. Weinerman
                                                -----------------------------
                                                Randy M. Weinerman
                                                Senior Manager

AGREED:

AMI DODUCO, INC.

By:   /s/ Albert Thorp, III
   -----------------------------
Name:  Albert Thorp
Title: President and CEO

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