ll = cash cow azuay = company maker, page-2

JID,

I was just rereading the Buscore Azuay report and I am a little confused as to the ownership.

EVG Azuay is a holding company being setup to take full control of the Papercorp and Pinglio(P&P) mines.

That holding will be divided 65% to EVG (Latin America) and 35% to the current owners of P&P.

EVG (Australia) will transfer/commit to spend $6.5m on EVG Azuay as part of the deal to secure our 65%?

The company EVG Azuay has a current total value of $10m; $6.5m which represents our (EVG Australia) stake and investment and $3.5m which represents the mines owners (who get it for "free" as they currently hold the mine licence/title)

EVG(Australia) owns 100% of EVG(Latin America).

Is this correct or have I twisted something?

Have they have not made a clerical error and are actually hunting 10-12g/t in 4m tonnes for 1moz+ and not 1.0 to 1.2-g/t for 100,000oz+?

SF