re: Ann: EDC Commencing Exploration on JV Pro... KINGKEV,here's...

re: Ann: EDC Commencing Exploration on JV Pro... KINGKEV,here's Mark email reply

''EDC are incorporating the 2 Peruvian JV companies and a obtaining tax number. This could take another 20 days and then the ministry of Energy has to approve transfer of the tenements into the JV company. At that point the JV officially commences for the 2 projects and we get $800,000 which is held in escrow. I tried to get this money advanced early because of the delays caused by EDC too no effect, which was very disappointing.

This time the Board has agreed not to let EDC onto the ground until the companies are incorporated or they advance funds to us before incorporation.

We are now talking to other potential JV partners and will not be relying on EDC to build our company.''

Regards,

Mark