Document J3GERR3dMonBQqXGBojw1MqMZ

PLAINTIFF'S EXHIBIT JM 962 This Agreement made and entered Into this sixth day of February 1952 BETWEEN; RHODESIAN ASBESTOS LIMITED. a corporation organized under the laws of Canada with its principal office in the City of Toronto, Canada, (hereinafter called "RHODESIAN ASBESTOS") OF THE FIRST PART -andJOHNS-MANVILLB CORPORATION. a corporation organized under the laws of New York with principal offices at 22 East 40th Street, New York, N.Y.U.S.A. (hereinafter referred to individually as "JOHNS-MANVILLE") SIMON I, PATINO. SUC. withoffiees at 15 rue Chalgrin, Paris XVIe, France, (hereinafter referred to individually as "PATINO") THE BRITISH METAL CORPORATION. LIMITED. a corporation organized under the laws of the United Kingdom with offices at Princes House, 93 Gresham Street, London E.C. 2. (hereinafter referred to individually as "BRITISH METAL") ANGLO-HURONIAN. LIMITED, a corporation organized under the laws of the Province of Ontario, Canada with offices at 44 King Street West, Toronto, Ontario, Canada, (hereinafter referred to individually as "ANGLO-HURONIAN") and SOUTHERN MINERALS & MARKETING CORPORATION (PTY) LTD a corporation with offices at 62 Marshall Street, Johannesburg, Union of South Africa, (hereinafter referred to individually as'SOUTHERN MINERALS") nil of whom are hereinafter sometimes referred to collectively as "the Associates" OF THE SECOND PART MTC 014037 -2- VHEREAS Rhodesian Asbestos has been incorporated by Letters Patent under the Companies Act of Canada with an authorized capital of 5,000,000 shares without nominal or par value (of which seven (7) shares have been issued), for the purpose of acquiring the properties and assets hereinafter men tioned; AND WHEREAS it is desirable to provide for the exploration and development and exploitation, if warranted, of the said properties com prising certain asbestos deposits located in Southern Rhodesia, Africa and to define the respective interests, rights and obligations of the Associates vithrespect thereto; NOW THEREFORE THIS AGREEMENT WITNESSETH that the parties hereto have agreed and do hereby agree as follows 1. Rhodesian Asbestos will buy and theparty or parties hereto owning or having rights in or to the respective properties and assets listed herein will sell or cause to be sold to Rhodesian Asbestos such properties and assets when and if Rhodesian Asbestos is satisfied with respect to all said properties and assets that the title thereto is clear and free from encumbrances except for certain obligations also listed herein to be assumed by Rhodesian Asbestos. Each of said properties and assets will be sold to and purchased by Rhodesian Asbestos at a price equal to the actual amount expended and obligations incurred by the seller thereof to and including December 31st 1951 directly for acquiring and developing such property. The amount so expended and obligation incurred in connection with the acquisition and development of each said property ghnii be determined by independent chartered accountants acceptable to Rhodesian Asbestos. The purchase price for each property and. assets chan be paid by Rhodesian Asbestos allotting and issuing to the seller or its nominees shares of Rhodesian Asbestos as fully paid and non--assessable on the basis of one (1) share for each four--sevenths (4/^7ths) of a Southern MTC 014038 Rhodesian pound, or equivalent in other currency as at December 31st 1951, of the amount so expended and of the obligations bo incurred and by Rhodesian Asbestos assuming payment of the amounts hereinafter specified to be payable to former owners. The properties and assets are:- (a) All the property, undertaking and assets of the company owning the Temeralre property less current liabilities. For convenience such company is hereinafter referred to as the "Temeralre Company". The amount expended and obligations incurred are estimated to total approxi mately One hundred and twenty five tbusand pounds (125,000). As part of the consideration for the purchase Rhodesian Asbestos will also assume the obligation of the Temeralre Company to pay the former owners of the property approximately Fifty thousand pounds (L50,000) in cash. The Temeralre Company will, be deemed to have carried on business and operations for thebenefit of Rhodesian Asbestos on and after the 15th day of July 1951. (b) Shashi property; The amount expended and obligations incurred are estimated to total approximately Forty one thousand pounds (L41,000). As part of the consideration for the purchase Rhodesian Asbestos will also assume the obligation of the present owners to pay the former owners approximately Forty-three thousand pounds (143,000) in cash. (c) Darwendale property: The amount expended and obligations incurred are estimated to total approximately Seventeen thousand pounds (17,000). On completion of this sale the seller or sellers shall execute and deliver or cause to be executed and delivered to and in favour of Rhodesian Asbestos an assignment of the right to mine under "tribute" certain mining claims owned or held by African Chrome Mines Limited more fully described in the Tribute Agreement dated October 15th 1951 between it and J. R. Ewing (a copy of which is attached hereto as Exhibit "E"). MTC 014039 (d) In option to purchase Shamala property (a copy of which is attached hereto as exhibit "A1^ Inasmuch as no amounts have been ex pended and no obligations have been incurred (except as below mentioned) ty the Sellers in connection with Shamala no ehares will be issued by Rhodesian Asbestos on the transfer to it of this option. However, Rhodesian Asbestos will assume the obligation under the option to do certain de velopment work on Shamala property estimated to cost about Eight thousand pounds (L8,000). 2. Rhodesian Asbestos will assume the obligation to Societa per Azioni "Etemit" Pietra Artificials, of Largo della Zecca 8/17, Genoa, Italy, (hereinafter referred to as 'Etemit") and SOCIETE DIMATIT, of 81 rue Laperouse, Casablanca, Morocco, (hereinafter referred to as "Dimatit") created by a letter dated July 23, 1951 (a copy of which is annexed hereto and made a part hereof, as Exhibit "B") signed by the Associates other than Johns-Manville and Southern Minerals; provided, however, that Rhodesian Asbestos will not be obligated to pay the Forty two tbusand five hundred pounds (L42,500) mentioned therein (less Twenty five thousand pounds (L25,000) as hereinafter mentioned) until July 1, 1952. This postponement to the said date is in accord with a letter dated October 10, 1951 (a copy of which is attached hereto and made a part hereof, as Exhibit "C") and signed by Mr. Hubert Dolbeau, and a letter dated October 12, 1951 (a copy of which is attached hereto and made a part hereof, as Exhibit "D") and signed by Simon I. Patino, Succesors. The payors of Twenty five thou sand pounds (L25,000) paid to Etemit and/or Dimatit under the terms of the said Exhibit "C" and Exhibit "D" shall be reimbursed such amount by Rhodesian Asbestos allotting and issuing its shares as fully paid and non assessable stock to the payors or their nominees on the basis of one share for each four-sevenths (4/7ths) of a Pound Sterling, or equivalent in other MIC 014040 -5- currency on December 31, and the Twenty five thousand pounds (L25,000) will be deducted from the said Forty two thousand five hundred pounds (L42,500) whichothervd.se would have been due to Etemit and Dimatit. 3. (a) British Metal hereby relinquishes all the rights it may possess to market the output of the above mentioned properties or ary of them or any asbestos properties subsequently acquired by Bhodesian Asbestos and agrees to cancel any contracts held by it providing for such rights. (b) Southern Minerals hereby relinquishes all rights it may possess to manage the above mentioned properties or any of them and agrees to cancel any contracts held by it providing for such rights. (c) Johns-Manville hereby agrees that it will not charge Bhodesian Asbestos any management fee or make any other charge to Bhodesian Asbestos except for such out-of-pocket expenses as Johns-Manville may incur at the request of or on behalf of Rhodesian Asbestos in connection with the development and operation of the properties and marketing of the products therefrom, and this provision is subject to Section 5. 4. The Associates agree among themselves that the initial Board of Directors of Bhodesian Asbestos shall consist of seven (7) members to be selected as follows: Four (4) shall be nominated by Johns-Manville and one of these shall be the Chairman] one (1) shall be nominated jointly by British Metal and Anglo-Huronian, it being understood that this nominee will be James Y. Murdoch K.C. if he is available] one (1)shall be nominated by Patino and one (1) shall be nominated by Southern Minerals. The composition of the Board Bhall remain as above set out until Johns-Manville acquires fiftyone per cent (51/0 of the issued capital stock of Bhodesian Asbestos under this Agreement or until Johns-Manville notifies Rhodesian Asbestos as MTC 014041 -6- hereinafter provided for that in its opinion further exploitation of the properties is not warranted or until Johns-Manville fails to sub scribe for any shares to which it is entitled to subscribe as hereinafter provided or until December 31st 1956 whichever shall first occur. There after the Directors shall be elected by shareholders in the customary manner. Each of the Associates agrees with the others to vote on and in respect of all shares held by it from time to time in Rhodesian Asbestos to give effect to the provisions of this Section and to enter into apy agreement or other documents necessary to accomplish this objective. 5. Johns-Manville will conduct at its own expense on or in con nection with said properties exploration, engineering and development work to the total cost of Two hundred and sixty-two thousand dollars (f262,000) (U.S.) for the purpose of determining whether the properties which Rhodesian Asbestos owns or in respect of which it has options to purchase or tribute agreements, are of sufficient economic value and importance to warrant further exploitation. Within 120 days after completion of such work JohnsManville shall notify in writing Rhodesian Asbestos and each of the Associates whether or not in its judgment further exploitation of such properties is warranted. It is recognized that Johns-Manville has already commenced such work and amounts so expended by it prior to fomation of Rhodesian Asbestos shall nevertheless be taken into account in computing the total so expended. Johns-Manville agrees to prosecute such work diligently unless prevented by causes reasonably beyond its control. If at the conclusion of such work in the sole judgment of Johns-Manville exercised in good faith in the light of information then available such further exploitation of the properties is warranted Johns-Manville will turn over to Rhodesian Asbestos all the MTC 014042 -7results and particulars of its exploration, engineering and development work and shall he reimbursed by Rhodesian Asbestos for the cost of such work. Such reimbursement will be in cash or by note at the option of Johns-Manville. If in the sole judgment of Johns-Manville further ex ploitation of said properties is not warranted Johns-Manville shall not be reimbursed by Rhodesian Asbestos for the cost of such work and shall have no claim against Rhodesian Asbestos in regard thereto. Notwith standing that in this case Johns-Manville will not be reimbursed never theless it will turn over to Rhodesian Asbestos free and clear of any charges, the results of its work. 6. During the period when Johns-Manville is canying out explora tion and other work provided for in the aforegoing section 5 Rhodesian Asbestos will allow Johns-Manville access to all of its properties and will allow Johns-Manville or its agents to explore the said properties in any way Johns-Manville sees fit. Rhodesian Asbestos and the other Associates hereby agree to turn over to Johns-Manville all geological or other information it or they have respecting the said properties. 7. It is agreed by and between Rhodesian Asbestos and the Associates that in the event of Johns-Manville determining further exploitation of the properties is warranted as provided for in Section 5 hereof, and in that event only, then until Four million five hundred thousand (4,500,000) shares of Rhodesian Asbestos have been issued (including the seven (7) shares now issued) or until December 31st 1961, whichever shall first occur, all capital required by Rhodesian Asbestos shall be raised in the manner following, viz: From time to time as such capital is required the Associates shall re spectively be entitled to subscribe for shares of Rhodesian Asbestos in such proportions and amounts that the total shares ultimately issued of MTC 014043 -8- the 4500,000 shares (including shares issued under Section 1 and 2 hereof) will (subject to any modifications hereinafter provided for) have been issued as follows: tot Johns-Manville - 51% including 7 shares now issued British Metal - 15% Patino - 11 1/3% Anglo-Huronian - 11 1/3% Southern Minerals - 11 1/3% The price of the shares issued for cash shall be One dollar and sixty cents ($1.60) (U.S.) per share but nevertheless any of the Associates may at its option make payment for shares in Canadian dollars and Southern Minerals and/or its assigns and British Metal/may make payment therefor in sterling; in either case the price per share to be equivalent to One dollar and sixty cents ($1.60) (U.S.) per share converted at the official exchange rate, or, if there is then no official rate, at the mean of the New York bankers buying rate and the New York bankers selling rate for cable transfers on the date of such payment. It is recognized that initially shares will not be issued in accordance with the above schedule of percentages because of the issue of shares to some of the Associates under Section 1 and 2 hereof and fur ther that Johns-Manville; will receive no shares under Sections 1 and 2 hereof and Anglo-Huronian will receive less shares than the others. Pending determination as aforesaid by Johns-Manville as to whether the said properties warrant further exploitation moneys required for corporate purposes by Rhodesian Asbestos will be furnished by the Associates other than Johns-Manville. Anglo-Huronian will be first required to subscribe for shares to the extent of Fifty thousand dollars ($50000) Canadian funds. If Johns-Manville determines that the said properties warrant further exploitation then as and when capital is required by Rhodesian * j i j ( MTC 014044 -9- Asbestos, Johns-Manville will be required to subscribe for shares to such extent as will enable it to receive its 51% of the total issued capital and the Associates other than Johns-Manville will be required to subscribe for sufficient shares to achieve and maintain their percentages as above scheduled, it being the intention that, in order to give effect to such schedule, subscriptions by the respective Associates will be called for by Rhodesian Asbestos at such times and in such manner as to bring shares issued to them respectively as soon and as equitably as possible to the scheduled percentages subject to the modifications herein provided for. Provided, nevertheless, and notwithstanding anything to the contrary herein contained, none of the Associates shall be bound to sub scribe for any shares of Rhodesian Asbestos except only that Anglo-Buronian shall be required to subscribe for shares to the extent of Fifty thousand dollars ($50,000) Canadian funds as provided in the immediately preceding paragraph and that Johns-Manville shall., if it determines that further exploitation of the properties is warranted, subscribe and pay for at least two hundred thousand (200,000) shares of Rhodesian Asbestos. Provided further that if any of the Associates fail to subscribe for any shares offered to it in accordance with the terms of this agreement it shall forfeit the right to purchase any further shares from Rhodesian Asbestos. Any shares so offered to and not taken by one of the Associates may be subscribed for by the Associates other than the one so failing, in such amounts as to preserve their respective relative proportions. Whenever Rhodesian Asbestos shall make any offering of its shares to the Associates in accordance with the foregoing, notice of such offer ing shall be sent by airmail or cable to each of the Associates entitled to subscribe thereto at least sixty (6o) days before the date specified for payment to be made and the recipient of such offering shall notify Rhodesian Asbestos at least fourteen (14) days before such date as MTC 014045 -10- to its intention of subscribing for or not subscribing for the shares so offered, provided that any recipient shall nevertheless have a reasonable time, taking foreign exchange control difficulties into account, but not exceeding ninety (90) days after the specified date of payment, to remit funds for the purchase of the shares if it notifies Rhodesian Asbestos of its desire to purchase same within the time above mentioned. The foregoing provisions of this section shall apply to the issuance of the first 4,500,000 shares of Rhodesian Asbestos, including the 7 shares now issued, and shall remain in force until December 31st, 1961, unless such shares have sooner been issued. The remaining 500,000 shares of Rhodesian Asbestos and any additional shares which may be created are to be allotted and issued at such prices and upon and subject to such terms and conditions as the Directors of Rhodesian Asbestos may determine, it being understood, however, that Rhodesian Asbestos will first offer any such shares to its shareholders pro rata according to their respective share-holdings at the time of any offering. 8. Shares acquired by any of the Associates hereunder may be transferred to any of its subsidiary companies, and in the case of Southern Minerals, distributed to its three shareholders, who shall succeed to the obligations and rights hereunder of the transferor or distributor. Sub ject to the foregoing until the stock of Rhodesian Asbestos is listed on a recognized Stock Exchange, shares acquired `by any of the Associates or by any stockholder or subsidiary of one of the Associates by transfer or distribution, or by purchase from Rhodesian Asbestos may be transferred to an outsider only after granting the Associates (other than the offeror) the rightof first refusal, such right of first refusal to be accorded to the Associates respectively entitled thereto in such amounts as to pre serve their respective relative proportions. MTC 014046 -11- 9. Any of the Associates may transfer to their respective sub sidiary companies, and in the case of Southern Minerals, to its three shareholders, their rights and obligations hereunder in respect to subscriptions. Rhodesian Asbestos shall abide hy such transfer and the subsidiaries or stockholders to which such transfer has been made shall succeed to the obligations and rights hereunder of the party making the transfer. 10. Rhodesian Asbestos and the Associates agree that changes of method or form in "this contract, its application or operation required to meet the particular problems of Rhodesian Asbestos and/or any of the Associates which arise by reason of foreign exchange control or other laws or governmental regulations will be agreed to by Rhodesian Asbestos and/or the Associates, if the effect of such changes is not to alter the substance of this contract or to impair the interests of Rhodesian Asbestos or any of the Associates. 11. At such time as any Associate so requests Rhodesian Asbestos will apply for the listing of its stock on one or more recognized stock exchanges and if so requested each of the Associates will take such action as may reasonably be required of it to facilitate such listing, provided, however, that in complying with such a request Johns-Manville shall not be required to sell any of its shares that it may hold in Rhodesian Asbestos. 12. Except as otherwise provided herein any notice required or permitted to be given hereunder may be given by one party to the others or any of them by forwarding the same by registered mail postage prepaid to the address or addresses above set forth. Any such notice so given shall be deemed given when deposited in the Post Office and the Post Office marking shall govern as to the date of registration. Any of the parties may change its address for service at any time by such a notice. MTC 014047 -12- 13. Rhodesian Asbestos shall reimburse Anglo-Huronian and JohnsManville for travelling expenses incurred with respect to negotiations leading up to this agreement, as certified ty the Secretary-Treasurer of Anglo-Huronian, and the Treasurer of Johns-Manville. 14. This Agreement shall supersede all previous arrangements and understandings among the Associates with regard to the exploration and development and exploitation of the properties and other matters dealt with in this agreement. 15. Fees and disbursements of lawyers in Hew York and Toronto employed by the Associates in connection with the incorporation and or ganization of Rhodesian Asbestos and in connection with this agreement are to be paid by Rhodesian Asbestos. 16. This agreement shall be interpreted in accordance with the laws of the Province of Ontario, Canada. 17. Ho assignment of this agreement shall be valid except as above provided unless the consent of the other parties hereto is obtained to such assignment. IN WITNESS whereof the parties hereto have duly executed this agree ment as of the day and year first above written. ( RHODESIAN ASBESTOS LIMITED ( ( By (Sgd) A. R. Fisher ( ( ( JOHNS-MANVILLE CORPORATION ( ( By (sgd) Roger Hackney ( | SIMON I. PATINO, SUCCESSORS ( By (sgd) A. Patino ( THE BRITISH METAL CORPORATION LTD. ( ( By (sad) R. E. Talbot ( ( ANGLO-HURONIAN LIMITED ^ By (sed) A. Dorfman ( SOUTHERN MINERALS & MARKETING CORPO RATION (PTY) LIMITED Bv de Bosdarl (sgd) Mrc 014048 COPY " EXHIBIT "A" I certify that the original hereof, filed in my Protocol, bears revenue stamps to the value of l/-d duly cancelled, (sgnd) A.F.Holmes. NOTARY PUBLIC. Registered No. 109. I certify that this agreement was registered in the Mines Office, Fort Victoria, on the 7th December, 1951. Fees Paid LI. Registration. Duty LI. (Sgnd) Asst. Mining Commissioner, Fort Victoria. PROTOCOL NO. 129 NOTARIAL PROSPECTING AND OPTION AGREEMENT KNOW ALL MEN WHOM IT MAY-CONCERN: THAT on this the 2nd day of August in the year of Our Lord ONE THOUSAND NINE HUNDRED AND FIFTY-ONE (1951) before me, ARTHUR FREDERICK HOLMES Notary Public, duly sworn and admitted and residing and practising in FORT VICTORIA in the Colony of Southern Rhodesia, and in the presence of the subscribing witnesses, /personally MTC 014049 2 personally came and appeared LLOYD EMIL DAUME of Salisbury, in his capacity as the duly authorised Agent and"Attorney of SOUTHERN MINERALS LIMITED, of P.0. Box 403, Salisbury (hereinafter referred to as the "Company") acting under a Resolution of Directors dated at Johannesburg the 10th day of July, 1951, a certified copy of which Resolution now remains filed in my Protocol, of the first part and acting on behalf of FREDERICK DUNN ASHBOURN PAYNE FELIX PICCIONE BESTER LEO WILLIAM GODDARD GEORGE WILLIAM FOX associated together in partnership as the TOKWE ASBESTOS SYNDICATE, (hereinafter referred to as the "Grantors") of the second part. AND the Appearers declared that whereas the Grantors are the owners of the blocks of Mining Claims situate in the Mining District of Victoria in the Colony of Southern Rhodesia, particulars of which blocks are contained in the schedule hereunto annexed and marked "A", and which blocks of claims are hereinafter referred to as the "said Claims"; AND WHEREAS the Grantors have agreed to grant the Company:The sole and exclusive right to prospect and sample the said claims and the sole and exclusive right and option to form a Company for the purpose of acquiring them with a view to carrying on Mining .Operations thereon, upon certain terms and conditions: /NOW MTC 014050 3. NOW THEREFORE THESE PRESENTS WITNESS 1. The Grantors hereby grant to the Company during the period commencing the 15th day of August, 1951 and ending the 15th day of August, 1952 (which period, together with any renewal of this Option as hereinafter mentioned, is hereinafter referred to as the ''prospecting period") the sole and exclusive right to prospect, explore and examine the said claims. 2. Other than the option money payable in respect of the renewal of this Option as hereinafter mentioned, no consideration shall be payable by the Company for the granting of this Option, but the Company shall, at their expense, during the prospecting period put down an incline shaft to be sited within one hundred (100) yards of the portal of the main adit on the Shamala Block of claims, regn.no.2040. Such shaft shall be so constructed as to intercept the ore body at a depth of not less than one hundred (100) feet below the level of the said adit. 3. At any time during the prospecting period the Company shall have the right to inspect the said claims and all working thereon and to prospect same, and for that purpose the Grantors hereby give and grant unto and in favour of the Company free rights of access to, egress from and way over the said claims, and the right to do everything thereon which it may be deemed necessary for the /PURPOSE................... MTC 014051 4. purpose of conducting bona fide prospecting operations, and the Company shall be entitled during the prospecting period to remove from the said claims such samples of minerals as it may be deemed requisite for testing and assaying purposes. 4. All work carried out by the Company on the said claims shall be conducted in a proper and minerlike manner and so as not to interfere with the Mining operations of the Grantors, who shall be entitled to continue to work the said claims for their own benefit during the prospecting period. 5. Provided the Company gives the Grantors notice in writing of its intention to do so prior to the 15th day of July, 1952, it shall have the right to renew this Option for a further period of SIX (6) months - i.e. to the 15th day of February, 1953 - as consideration for which the Company shall pay the Grantors the sum of FIVE HUNDRED POUNDS (L500) in advance for each month during which the Option is current, the first payment to fall due and be payable on the 15th day of August, 1952 and subsequent payments on the 15th day of each succeeding month. Should the Company exercise its right to renew the Option as aforementioned, it shall nevertheless be entitled to cancel same at any time during the said period of six months, provided it gives the Grantors THIRTY (30) days notice in writing to that effect, which notice shall /BE........................ MTC 014052 5. be given on or before the 15th day of any month and same shall terminate the Option on the 15th day of the next succeeding month. 6. During the prospecting period the Company shall have the right to mill all development ore obtained as a result of the development and other exploratory work conducted by it on the said claims at the plant of the Grantors on the said claims. Such ore shall be treated separately from any other ore and the Company's representatives shall be entitled to be present at the said plant whilst such ore is being treated. No charge shall be made by the Grantors for the treatment of such ore at their mill. The Company shall, furthermore, be entitled to keep such samples of fibre derived from the treatment of the ore mentioned herein as it may reasonably require for testing purposes and assaying purposes. All other fibre derived from the said ore shall accrue to the Grantors free of charge, as shall also any development ore obtained as the result of the Company's work on the said claims and which the Company may not require to test. 7. The Company shall have the right at any time during the prospecting period as aforementioned to incorporate a Company in Southern Rhodesia or elsewhere, which Company is hereinafter referred to as the "Mining Company", whose principal object will be to acquire the said claims for /THE............................. MTC 014053 6. the purpose of carrying on mining operations thereon, upon and subject to the following terms and conditions (a) The Company shall notify the Grantors by letter or cable, which shall be dispatched so as to reach the Grantors on or before the last day of the currency of the prospecting period if it intends to incorporate the Mining Company, and the Company shall proceed with the incorporation of the Mining Company forthwith. Should such letter or cable not be dispatched within the time stipulated above, the Company shall be deemed to have decided not to incorporate the Mining Company and this agreement shall be and become null and void and of no force and effect whatsoever, and all payments made in terms of the foregoing shall be regarded as option money and same shall not be recoverable from the Grantors. (b) In the event of the incorporation of the Mining Company in terms hereof, the Grantors will be obliged to, and they hereby undertake upon the furnishing of the guarantee mentioned in sub-paragraph (d) of this clause, to transfer and make over to the Mining Company the full and unencumbered ownership of the said claims, and they hereby undertake and bind themselves to make, sign and execute all deeds and documents as may be necessary for that purpose. Such cession and transfer shall be effected at the cost and expense of the Mining Company. /IN........................ MTC 014054 7. In addition the Grantors shall hand over to the Company all plant and equipment and buildings situate on the said claims, particulars of which are set out in annexure "B" hereto, and which plant, equipment and buildings the parties hereby agree are valued by them at SIX THOUSAND SIX HUNDRED & EIGHTY-NINE POUNDS (1.6,689). (Initialled by all Signatories here) If during the prospecting period the Grantors shall wish to make any alterations or replacements in such plant, equipment and buildings, such alterations or replacements shall be mutually agreed upon by the parties hereto. In addition the Mining Company shall be entitled to take over without payment all ore at grass on the said claims, but any fibre situate thereon which is already bagged shall remain the property of the Grantors. The Grantors further undertake to give the Mining Company vacant possession of the said claims within THIRTY (30) days of the date of registration of the said claims in the name of the Mining Company. (c) The amount of the authorised capital of the Mining Company shall be not less than TWO HUNDRED THOUSAND POUNDS (1,200,000). (d) In consideration for the transfer of the said claims and the handing over of the said plant, equipment and buildings as mentioned in sub-paragraph (b) above, the Company shall procure:- /(l) MTC 014055 8 (i) THAT the Mining Company will pay to the Grantors the sum of EIGHTY THOUSAND POUNDS (E80,000), less the total of any payments made in terms of paragraph 5 hereof, for the satisfaction of which the Mining Company shall, within 30 days after the date on which it will become entitled to commence business, furnish the Grantors with a Banker's Guarantee in usual and customary form. Such guarantee shall provide that the payment of the said sum of EIGHTY THOUSAND POUNDS (E80,000) shall be made free of exchange at Fort Victoria aforementioned against registration of transfer of the said claims in the name of the Mining Company in the office of the Mining Commissioner, Fort Victoria, and delivery to the Mining Company of all plant, equipment and buildings and other improvements situate thereon, as per Annexure "B". (ii) THAT the Grantors shall, between them, receive TWENTY THOUSAND POUNDS (E20,000) fully paid El shares in the capital of the Mining Company - provided the issued capital of the Mining Company does not exceed TWO HUNDRED THOUSAND POUNDS (E200,000); and that the Grantors shall in addition have the right to purchase TEN PER CENT (10%) of any additional shares issued by the Company at any time in excess of TWO HUNDRED THOUSAND POUNDS (E200,000) at par. /(iii) MTC 014056 9. (iii) THAT the Mining Company shall dispose of all fibre to be derived by it from the said claims at the highest price obtaining for a like quality of fibre, having regard to current market prices and the duration of any contract to be entered into. 8. The Grantors undertake that as soon as the existing Hypothecation over the Shamala blocks 1 - 5 is cancelled, they will deposit the Certificates of Registration relating to the said claims with Messrs. Winterton, Holmes & Hill, Solicitors of Fort "Victoria, to be held by them in . trust and to be dealt with by them in terms of this Agreement. 9. The Grantors undertake to do everything necessary to maintain title to the said claims during the prospecting period. .10 During the prospecting period the Grantors shall at all reasonable times have the right of access to any work being performed by the Company on the said claims and the Company undertakes that in the event of it not exercising its option in terms of this agreement, to make available to the Grantors the results of all operations and tests carried out by it or its agents and all other information which may be of use to the Grantors and which may come to its knowledge during the prospecting period. /II. MTC 014057 10. .11 The Company shall be entitled to cede its rights in terms of this agreement to any person or Company whatsoever. .12 The addresses of the parties hereto for purposes of all notice to be given in pursuance hereof shall be as follows: THE GRANTORS: TOKWE ASBESTOS SYNDICATE P. 0. Box 8, MASHABA, Southern Rhodesia. THE COMPANY: SOUTHERN MINERALS LIMITED P. 0. Box 403, Salisbury, Southern Rhodesia. 13. In the event of the Company exercising the Option herein contained it shall make provision for the Mining Company to fulfil the contract entered into between the Grantors and Messrs. Selected Mines & Marketing (Rhodesia) Limited, as per copy annexed hereto and marked MC". The Grantors undertake not to enter into any further contracts to supply fibre from the said claims without the prior consent of the Company being first obtained. 14. The costs of having this agreement drawn and registered and the Government dues payable thereon shall be borne by the Company. /THUS fjlTC 014058 11. THUS DONE and SIGNED at Fort Victoria aforesaid, on the day, month and year first aforewritten in the presence of the subscribing -witnesses. AS WITNESSES: 1. (Sgnd) M.M.M.Hill 2. (Sgnd) M.E.Povall (Sgnd) L. E. Daume. Tokwe Asbestos Syndicate (Sgnd) F. P. Bester. L. W. Goddard. G. W. Fox. BEFORE ME (Sgned) A. F. Holmes. NOTARY PUBLIC. (Southern Rhodesian l/-d. stamp here affixed). Certified a true copy. /s/ Secretary Southern Minerals & Marketing Corp.(Pty.) Ltd. MTC 014059 ANNEXURE "A" NAME Shamala Shamala 2 Shamala 3 Shamala 4 Shamala 5 Shamala 6 Shamala 7 Shamala 8 REG. NO. 2040 2059 2060 2061 2062 2499 2500 2501 NO. OF BLOCKS 30 30 30 30 30 30 30 30 Certified a true copy. /s/..................................................... Secretary Southern Minerals & Marketing Corp. (Pty.) Ltd. MTC 014060 ANNEXURE "C" MEMORANDUM OF AN AGREEMENT made and entered into by SELECTED MINES AND MARKETING (RHODESIA) LTD of the one part, and hereinafter referred to as SELECTED MINES, and L. W. GODDARD, F. P. BESTER, G. ff. FOX and F. D. A. PAYNE trading as TOKWE ASBESTOS SYNDICATE of the other part, and hereinafter referred to as the "said Syndicate". WHEREAS The said Syndicate is the registered owner of certain asbestos mining claims situate in the district of Mashaba, and which claims are detailed in the attached schedule; AND WHEREAS The said Syndicate is desirous of raising money for the purpose of producing asbestos from the said claims; AND WHEREAS Selected Mines are prepared to loan the said Syndicate certain monies for the aforementioned purpose on the following conditions:- NOW THEREFORE THESE PRESENTS WITNESSETH; 1. That Selected Mines shall loan free of interest the sum of FIVE THOUSAND POUNDS (L5000) payable as to:- /THREE ............................................. MTC 014061 2. THREE THOUSAND POUNDS (E3000) on the signing of this agreement and TWO THOUSAND POUNDS (fc2000) THIRTY (30) days after the "signing of this agreement by the said Syndicate. 2. The money shall be deposited in Barclays Bank (D.C. & 0) Fort Victoria Branch for the credit of TOKWE ASBESTOS SYNDICATE. 3. The said Syndicate shall repay the loan of FIVE THOUSAND POUNDS (L5000) at the rate of TWENTY PER CENT (20%) of their asbestos output from the aforementioned claims, the first repayment to be from the first delivery of asbestos to Selected Hines. 4. The said Syndicate hereby agree to supply to Selected Mines a total of ONE THOUSAND (1000) tons of ''Run of Mine" asbestos fibre containing not more than FIVE PER CENT (5%) grit, and the rate of approximately FIFTY (50) tons per month. The first delivery to be made from the June output. 5. Selected Mines agree to pay the said Syndicate for the fibre so supplied at the rate of SIXTY POUNDS (fc60) per ton bagged and delivered. Fort Victoria Railway Station, payment to be made by Selected Mines to the said Syndicate /against ..................... MTC 014062 3. against Railway receipt that such fibre has been delivered to Fort Victoria Station. 6. From all payments made in terms of the preceding clause, Selected Mines shall deduct TWENTY PER CENT (20%) of the total, and offset such deduction against repayment of the aforementioned FIVE THOUSAND POUNDS (L5000) as provided in clause 3. 7. The said Syndicate shall hypothecate all claims as detailed in the attached schedule to Selected Mines, as security for the aforementioned loan of FIVE THOUSAND POUNDS (L5000). 8. Upon completion of the delivery of the afore mentioned quantity of ONE THOUSAND (1000) tons of asbestos fibre, to Selected Mines, they, Selected Mines, shall have the option to purchase a further ONE THOUSAND (1000) tons of asbestos fibre at a price to be mutually agreed upon between the parties hereto. 9. The said Syndicate shall take the necessary steps to protect the claims detailed in the attached schedule, according to the mining laws of Southern Rhodesia, and shall do all in their power to deliver FIFTY (50) tons of fibre monthly, but shall not be liable for any breach of this agreement should they for any reason fail to deliver such fibre at the rate of FIFTY (50) tons monthly. /10. WTC 014063 4 10. The costs of this agreement shall be paid by the said Syndicate. THUS DONE AND SIGNED AT ........................ on this........................... day of,...............................ONE THOUSAND NINE HONORED & FIFTY for and on behalf of SELECTED MINES AND MARKETING (RHODESIA) LTD. WITNESSES: 1 ..................................................... 3.................................. 2 ..................................................... 4................................. THOS DONE AND SIGNED AT.............................on this day of...............................................ONE THOUSAND NINE HUNDRED AND FIFTY and on behalf of TOKWE ASBESTOS SYNDICATE. WITNESSES: 1 ............................................................. 3............................................................ 2 ............................................................. 4............................................................ MTC 014064 NAME Shamala Shamala 2. Shamala 3. Shamala 4. Shamala 5. SHAMALA CLAIMS REG. NO. 2040 2059 2060 2061 2062 NO. OF CLAIMS. 30 30 30 30 30 MTC 014065 EXHIBIT B Genoa, Italy, July 23rd, 1951 Sec. per Agioni ETERNIT Pietra Artificale Largo della Zecca 8/17 GENOA. Sec. An. DIMATIT 81, Rue Laperouse CASABLANCA Dear Sirs, The undersigned representing Simon I. Patino Succ. the British Metal Corporation Ltd. and Anglo Huronian Ltd. confirm the agreement arrived at this morning with your representatives as follows: I) A new Company will be formed by the undersigned with Johns-Manville who will have 51% of the Capital, to exploit asbestos Mines in Africa. We hope that the formation of this Company will be completed before the 1st October 1951II) When the Company is formed (1) all previous agreements between us shall be cancelled. (2) From the date when the new Company is formed until the 31st December 1957 half the asbestos produced of the grades you require will be sold to you on the following conditions. a) No sale will be made to you until the new Company produces 200 tons per month. b) The maximum quantity of asbestos sold to you shall not exceed 50 short tons per month. This quantity will be made available to you beginning 1st. January 1953 and if not this contract will be extended until such date that you have received 3^000 short tons. c) Three months before the end of each 6 months period you will give to the new Company a list of the grades of asbestos and the quantity which you ..require during the following 6 months and the price wy.1 then be fixed. MTC 014066 2- - 3) Ill) d) This price will he Turner & Newell last sale price fob to countries other than England for a similar grade and a similar quantity the price being ascertained either from Turner & Newell or their buyers e) Deliveries will be fob Beira. If you desire delivery elsewhere the difference in transport charges will be for your account f) The grades of asbestos will be defined by reference to the classification adopted by Turner & Newall for African Chrysoltile asbestos g) Payment will be made in Southern fthodesian Pounds after irrevocable credits have been opened against documents one month before delivery of the asbestos at the port of shipment. A sum of 42,500.-.- will be paid according to your instructions and in 15 days after the ratification of this agreement by the new Company. If at the 31st. December 1951 the new Company is not formed, the agreement made this morning would be cancelled and the agreement of the 1st. December 195 will remain in force Yours faithfully, Simon I. Patino, Succ. The British Metal Corporation Ltd. Anglo Huronion Ltd. MTC 014067 EXHIBIT C TRANSLATION DIMATI T Lyon, Oct. 10, 1951 HD/MB Messieurs SIMON I. PATINO Sue. 15, rue Chalgrin Paris, France Att: Mr. P. BAUDOUIN Re; 'MARITAMIANT11 Dear Sir; We herewith confirm our recent conversation with Mr. LUGIEN in Paris. In reply to your request for an extension from December 31? 1951 to July 31? 1952, in connection with the clauses contained in the arrangements concluded at Genoa on July 23, 1951 - which it is not necessary to enumerate here - we have asked you to kindly let us have an advance of 25,000 before the end of December of this year. This advance would constitute a first payment on the sum that must be paid to STERNIT and to DIMATIT at the definite conclu sion of agreements at Genoa. We confirm to you that in case the above-mentioned agreements could not be realized, we bind ourselves to reimburse the said sum of 25,000 i to you within six months, taking the date of the day that you would indicate to us when your negotiations were check-mated, and the return to a previous situation to that of July 23, 1951. This declaration is made to you in the name of the Societe DIMATIT and of the Societe ETERNIT of Genoa in virtue of the powers vested in us by Mr. MAZZA, Engineer. Concerning the remaining details, Mr. Hubert DOLBEAU counts on meeting you on Tuesday, October 16th. Hubert DOLBEAU MTC 014068 EXHIBIT D TRANSLATION October 12, 1951 Societe Deimatit 81, rue Laperouse Casablance, Morocco Attention Mr. Hubert Dolbeau Gentlemen: We acknowledge receipt of your letter of October 10th which was written in your name and in the name of the Etemit Co. concerning the extension from December Jl, 1951 to July 31, 1952 of clause 3 contained in the last paragraph of the agreement that was signed in Genoa on July 23rd 1951* We herewith wish to express to you our complete accord with this extension in our own name and in the name of our Associates, The British Metal Corporation Ltd. and Anglo-Huronian Ltd. We shall advance you 25,000 % (Pounds) on December 20, 1951$ this amount will be paid to you in the way you will specify. This pay ment will be on the account of the 42,500 % which are to be paid to Eternit and Dematit at the final conclusion of the Genoa agree ments. It is understood that if this agreement does not become effective because the new Asbestos Company is not formed, the Dematit Co. and the Eternit Co. together are committed to reimburse that amount of 25,000 % to us within 6 months of the day when we shall notify you eventually that the new company is not formed. If this occurred in accordance with the Genoa agreement of July 23, 19515 the one of December 1, 1950 would again be fully valid. Yours truly, (Signed) SIMON I. PATINO, Succesors Antenor Patino R. MTC 014069 EXHIBIT anV AIL MB VBtM XT MX COBCBB that on this lth day of October, 1951, before an. GEttLD AIJKED ELLIOTT Oottcry Public, duly admitted a& sworn, personally earn and wared nqmym B180LS rarer ha being duly authorised thereto under aad by Tirtua of a/Power of Substitution granted on the 15th day of October, 1951, at SAUBQBX by Oerald Boy Parkinson, the lawful attorney and agant of AVHDGAH G8BGMK MZB8 XJKX93S, (heretaaftor atyled "the Omar") a Company raglaterad in London with lilted liability and haring an office la Sslnkwe, he being duly appointed thereto under end by virtue of Poser of Attorney granted la hie favour in on tin 17th day of JUne, 1$W, which Poeer of Substitution end eoyy of uhich Power of Attorney now min filed in ay Protocol, of the one part, end of the other part QQRDQB HARQU) SBESOT acting for and cn behalf of JAKES BCBEKT WE* (hereinafter atyled "the Trlbetcr") he being duly authorised thereto under by virtue of a Power of Attorney granted in hie favour at flAI.TflBOHT on the 15th day of October, 1951 which Power of Attorney nor renaltut filed la my Protocol, AMD TBS APPBftBSBS WBOTAwym warn BBBBBA8 the Omar is the registered Oner of certain base natal claims situate in the Mining district of Salisbury sore fully refarred to in the Bchertnle hereunto annexed narked "A* (hereinafter referred to as "the said claims") AMD WHEREAS the Owner has agreed to permit the Tributor to seek the said elaitne for the purpose of producing oSbeatos therefrom H0S TBHMMU THESE PRESEKCS VXXBESSEXEt- THAT the ouner hereby lets the said claims to the Tributor who agrees MTC 014070 to taka the mm on tribute upon the following tens nod conditions:- 1. m! this Agreomant shall be fcar * period of ORB (7) TB9 ccnaeneing on the let dear of October, 1951, cad expiring on the laet dear of September, 1958. 2. THftT the TTibntor shall have the cole and eaKlaaive right of mining on end producing d disposing of acfeeetos or* free the seid oleine. 3. TBAT the rtbotar undertakes to perform ell opentfeiene under this tribute in n proper and workmanlike aanasr end to ecnfam to the provisions of the ***** and Minerals Act end Mining Bagnlslims of Southern Bhodssia. k. THAT the Tribute* undertakes to carry out quarterly (ealeuletad from tha date of irnamweiMct of this Agreenent) *t lenet enough dsvelopnent track to hasp the nining location protected in terms of the Mining Sear of Southern Shedeala* end any emcees <*rrr stipulated ndninaa footega shall wwnt towards any acbsegient guarter. 5, mrkm edegaata pillere loft to ensure tha psreeaant nelntaneao* in good order of aein ahafta, entrances and ell other essential weana of acessa to tha nine. 8. THAT the Tributes* undertake# to Maintain all eaeantdal ahafte, drives and such like eenveatiana la good working order and to leave such track la good order end condition on tha tandaetion of this Agranaaat subject to any dapnrtura from this ratntenanca being first approved in writing by the Oner* 7* SBiT the TWbutor undertakes to submit to the Owner elthin fourteen (Ik) days of the expiry of each guarter during the currency of this Agreement (calculated from tha cnaasticainsnt hereof) a declaration of all deralopnot footage done by the Tributes* in terms of thia Agreentnt during the gsaartar just expired. 8. TH&T between the 29th end the last day of each and every colander north, tha Trlbutar shall causa accurate neasurcaants t> be taken of all asbestos ore mined from the said claims and shall, not later than the 15th day of the next succeeding month, furnish to the Owner a stateamnt shooing the weight of such asbestos ore and pay to the Owner tha royalty hereinafter referred to. Ihe Owner shell have the right to be represented, at such measurement end at any 8 MTC 014071 tine to the m, and in tb event of any dispute arising between the parties as to such asasura--iat, such asasursaant shall ha psrfomsd by an independent parson appointed by tbs partly, or failing agrasmsnt as to tbs independent person; such aeasareaent eball ha perfcased by Barclays Bank (D.c.b 0} at tba scat and charge of tba Tribotar, miss* tbs Tributar's nessuransnt* are substantially correct; in whieh com tba east and Charge at snob independent meewsMBt shall ha horaa by tbs Owner* 9. THAI in aonsidSBatlan of tba rights hereby granted tbs Tribute* shall pay to tbeOmere royalty mounting to nine pane# (9A> par loag ton at Twolhouasnd Two Hundred saA Forty founds (22fco lbs) of aAestoa ora sdned for tba first pariod of SHB (7) TEARS at in the awant of thisAgree- MBt belzur itnamd. tba nmltr ha lerlawd In nMoaat of aadi --ie* inwnei^aB*^w^e^ass^p ^^sewr mssa u^nswgas^sii e^we as a aswe^m^v^e v* v^we w^g^ne^eie 4s^gms^ss^s^ieai period eo as to protect hath parties against world aids fluctuation of prices. SaA reviewed rata Chell ha haaad on approximately flea par eastm (59) at tba ruling price ef aCbestos at tba dote of oosfwmcanant of each period* 10. THAT tba Tributor undertakes to aaka all each declarations as My ha nacaaaary to Obtain tospection Cartlflcatee or sets* Work Certificates for work dona and to hand ewer tba eatd claims on the expiration of this agraanent protected hy such certificates for a period in advance thick shall nob ha lass in each case than the period for vfcieh they were protected at the data of anfcarlns imnvtwo Aneapramsnssaaivitv. 11. UAI during tba ecio&lnaaaee of this Agrscnent tba Tributor Shall maintain the beacons, direction trenches, and beacon plates of tba Mining locations in good order end condition at hie can cost. 12* THAT the Tributor undertakes to Mfc* all payments by say of claim licences, site rants end fees das sad payable to tba Ocwsnaaant of Southern Rhodesia and to tba landowner* 13* THAI tba Tributor shall asanas all responsibility in eonaactlcn with the said clalroi as if he ana the Omar thereof, save and except in the sweat of lbs Omar working tba said claims for its own benefit me hereinafter provided, in which eaea tba Owner shall accept all responsibility in respect of its own workings* lb. THAI tba Owner undertakes not to hinder the Trlbutor in tiro -- -$- MTe 014072 of bis rlgxts voter tbis Agreement. 15. THAT tbs Owner or its inly appointed repreeentative Shall bo entitled periodically sod at reasonable tines to inspect tbs amid elates in order to satisfy itself test tbs tarns of tbis Agraaaent are being observed* 16. THAT tbs Tribute? undertake* to report to tbs Omar ill discoveries of chroma are or otbsr vsiaSble minerals ante by bin in working tbs said clslna and genszslly give tbs Osaor oil information white bs may obtain and iftteh any bo of nos or service to the tenor* Similarly in tbs event of tbe Owner in working tbs eoid elnios discovering ateestee teareee, it ehall fortbwitb notify tbs tribute?* 17* X8AX tee Tribute? shall not bs sntitlsd to teds or essi&L ell or any of m * rl^rto under tbte agreement or to srtb>lst any of tbs said slates on tribute to my otbsr person, save and emcapt with tbs approval of tbs Mining Affairs Beard sod with tbs written approval cf tbs Oner, white approval ehall not bs nmeonebly withheld. 1fl. <SEK tbs btetcr tell ten tbe rtte to tandsats tbia a ament if bs is unable to continue mining operations due to mourn beyaaftbie control, subject to bis giving tbs Oner three <3) souths written notlee of bis intention to do so. 19< rax the SrUmtar Shall have the rlgit at any bias within cos (l) year fros the dote of coamameamasi of tbis Agreteont by notice In writing to lbs Omar, to relingaite bis rights own any cf tbs blocks of claims hereby tribute*, provided always that bs Shall bass coqplisd with all bis tbllgations in respect of such Mocks up to tbo orplretion of such year, Thereafter sob blocks shall eases to be subject to tbis agreement end revert to tbs Omar. SO. fBftX the Owner reserves tee right at all tines to aster upon tea said. elates and work tea am* for tea purpose of producing chrome ore or any other artnsml with tee sxeeptieo of asbestos, provided always teat in so doing tbs Owner shall not interfere with may existing weeks of the Tributes*. 21. XBtX the Tributes* shall not without the written consent of the Owner -1 - MTC 014073 establish m the mid claims any mill duapa or maste dungs, nor be permitted to erect m>y buildings of a pemaat&t nature which interfere or would be calculated to interfere with the Owner's operations at a later date. 22. THAI all chrome ore extracted by the Tributor in the course ef his operations on the said claims shall remain the property of the Owner end Shell, be separately toped by the TMbutor on the said claims and notiee thereof given to bhe Oner who shall thereupon be entitled to remove tbs sea* sod dispose of it as it thinks fit*. S3(e) THAT should the Tribotor eoenit any breach of the conditions of this Agreement, the Oner say safes isowftlste demsad upon the tributor o rectify any such broach within seven (7) days from the date of daand and nould the Tributor fail so to cqssenae operstloas to rectify such breach or should he thereafter fail to proceed without delay to eooplete such rectifies** tion, thn such esse the Oner hvn the tipd to terndnete this Agreement by giving one month's notiee in writing to that affect to the TMbutor subject to such determination sot in spay my effecting say claim for rtaasgww sustained by the Oner in respect of such breach. (b) Should the Tributor fail to pay the royalty or fail to sake any other payment as required In this Agreement, the Oner shell have the rlgxt to dasmnd in exiting that such paymeutbe mad* Within seven (7) dsyaand if upon the termination of such period the Tributor continues in default with nCh pay- neat, the Oner shall have the ana rights of termination end subject to the same provisions as ears contained in the preceding cub-clanas. fr. THAT any notice served in tarns of this Agcmaaaat shall be served by registered letter vpon the Oner addressed to it at F.O. Boa 12t, Selufcwe and upon the Tributor by registered letter addressed to him at P.0. Bar h03, Salisbury. 2$, THAT the Tributor undertakes to aaintaln continuous mining cpsmticna on the mid claims unless prevented from so doing by causes beyond his control in idiich case he Shall inform the Omar vlthln fourteen (lb) days. Any failure to maintain continuous operations hie to such causes as aforesaid shall not be deemed to be a breach of this Agreement provided that the Tributor resum operations as soon es the said causes cease to exist. 26. THAI the costs in ecuneeticn with the preparation of ** Agreesmnt -5 - NtTC 0*14074 and at the stops thereon sad of registering tbs asm, as also the costs of detaining tbs approval of tbs Mning Affairs Board, Shall he boms hjr tbs TributOi. <ppng pgffs ASS fluaraj at ast-Taafay aforesaid m the day, aoath sad year efcvearlttea in tbs presence of the subsedhSae sitnesaes. 1. 2. ** 6 * MTC 014075 F.G. Ssx l^ SKESDS 15th October, 1951 J*B Bring, Ea*., Base 19, 8USBKM. Beer 8Str, re: Tribute Agresaant With reference to the Tribute Aggeenont between African Chroae Ktnes Halted, vhlcb m initialled by os to-day, It is agreed aa foUbws:* wan-- ^ of AgraMiast be yfwwa*e by the deletion of the last paragraph and the substitution therefor of the follosilagj- "Such reviewed rate shell be baaed 00 five per centua (5jt) of the pit head value of the asbestos ora at the date of eecb naaei period** daose 22 therefor;* be deleted aad the following substituted 22* (a) Shat allcfartne ore extracted by the Trfbotcr la the coomb of hie operatione m the said u< be eiaanly e^ ehaUL raaaiii the property of the Omar aad dam be MWMrtity * iw 11 by the trUutw that aelA thereof glvn to the owser efao fall tharetxDOn be entitled to lvaawe >* eaae dispose of it as it think* fit. wsuever one uukrot oaoounters onroao ora while extracting aribestoa ora# ha shall forthwith notify the Omar of title end the winner of uliiiag, MQilttt in| ftadsiitt af thi i arm Aill tt detexsdned by Mutual agraansat* <c) he Tribute* mall, however, have the right, should he la hie discretion ao deelds, not to *1--nly r!nq> ml **>** Wnftl (daWi In *<** eaes he ohall pay to the Omar the value of each ohroas based on the pit hied pries thereof at that tiue, less the cost of cleanly extracting the Tfrit la ease he shell be ua&ar no further Obligation la naprd bo the extraction add flunking thereof, <d) In the event of any dispute arising between the jurtiea in respect of this clause, such dispute mail be sohultted to arbitration la term of the Arbitration dot (Coy. 13) Saryflamv 15th October, 1951 Tours faithfully, AIBICAU CHBCKS HZHBS mffiE (egd) o.h. moassaa X hereby agree to the above (sgd) J.H. BOBS 014076 NVTC acapuus "a" pma np ytprar ft ft 11 If <f 0 ft It MsSona ft ft ft If ft ft It ft a It ft If M If a ft * ! ftStafford ft omM. ft ft ft II SofK ft ft ` ft Saraac It ft ft ft ft ft ft ft ft ft ft SNl ft c 8 8 .? a 8 t 3 K A 8 0 8 8 9 0 8 38 8 49 50 51 58 60 61 64 71 6 7 9 A 8 8 0 2 17 80 8 3 4 5 $ 8 11 12 15 19 f 9 Baalatptd Bo 8. M 160 161 162 3 165 166 16? 168 1T9 180 181 183 183 m 185 186 296 899 380 3ffl 2772 4509 4510 1&5 24l a4a 244 2649 266 3181 3821 4434 3155 3201 3805 3898 3452 3455 4872 4478 MTc OI4077