TSX Venture : ATI

In USA: Sec Rule 12g3-2(b) File NO. 82-2950

 

 

 

 

 

 

Relationship between Altai Resources Inc. and Altai Philippines Mining Corporation

 

Altai has a 40% equity interest in Altai Philippines Mining Corporation (“APMC”) and has a direct 10% Net Smelter Return (NSR) royalty interest in all properties in which APMC has an interest. Alternatively, Altai may elect to give up its 10% NSR interest in return for building and owning 80% of the ore processing facilities; in such event, Altai will buy the ore from APMC by paying a royalty equal to 10% of the direct mining costs of the ore delivered to the processing facilities. APMC will subsequently have 20% ownership of the processing plant.

 

In the event that properties are joint-ventured, leased or sold to a third party interest(s), 60% of residual proceeds will accrue to Altai until it recovers its past expenditures in the Philippines and 40% to APMC. After recovery of Altai's expenditures, proceeds will be shared equally.

 

The Philippine projects are MPSA (Mineral Profit Sharing Agreement) applications by APMC, except for Negros Island project for which APMC has an exploration license. MPSA gives prior right to the applicant and if granted, allows exploration to be carried out, and is the first step for a production permit. There is no assurance that any of APMC’s MPSAs will be granted.

 

 

 

 

 

 

 

PROPERTIES IN CANADA

PROPERTIES IN PHILIPPINES

Sorel – Trois Rivieres  – Oil and Gas

Malartic – Gold

Relationship between Altai & APMC

Lahuy Island  – Gold

Negros Island  – Sulphur

Sibuyan Island  – Lateritic Nickel-Cobalt

 

ALTAI RESOURCES INC.
Investor Relations  Tel : (416) 383-1328
E-mail : info@altairesources.com