Document KDX1doz1Y23n9j2rzqKxY7Mo

18-22 Bani Street P.O. Box AM Summit, N.J. 07 901 May 4, 1979 Cyprus Mines Corporation 555 Flower Street Los .Angeles, California 90071 Gentlemen : At the present time we haTe agreed to the following aa an outline of an acquisition of Charles Mathieu, Inc. by Cyprus Mines Corporation; The stockholders of Charles Mathieu, Inc. are to sell to Cyprus the common stock of Charles Mathieu, Inc. for a price of 52,400, 000 payable in cash. Thereby Cyprus will acquire Charles Mathieu, Inc. which owns Metropolitan Talc Co. Inc., Resource Processors, Inc., and 70^ of American Talc C o ., Inc. Our company, Charles Mathicu, Inc., is the exclusive agent for Italian Talc and Italian Tile ore for the United. States and Canada. The acquisition of Charles Mathicu, Inc. will include the Italian Talc agency as well as the sales rights to the production of the mills from domestic as well as imD or ted sources. ,/ , 'A / $ i & V , A' f iWe. or our assigns will^receive a royalty or commission 'non purchases of Italian Talc ore or Italian Talc products in the amount of 4;I of the f.o.b. vessel, Italian port, price until we have received il--l--. 500,000 w h ereu-pon the royal tv will cease^.* ./t // 4/ ~ ,./, / ' / r--v;-- Z//Q. ' / ..** / // I (r Likewise , on xh-e the sales of talc produced from the Montana >r leaseholds, we will receive a royalty of 5j of the f*o.b, Montana Mill price or equivalent (bux, not less than #4,00 per ton) Less the 52.00 per ton payable to Madison Minerals Corp. until we have received 5 1 >500,000w h ereupon the royalty will cease In addition, positions will be offered to Peter H. Bixby and Donald R, Ferry in Cyprus at responsible levels at compensation similar to that of equivalent positions in the Industrial Minerals group of Cyprus. This does not represent an offer of a contract of employment. ___________ EXHlBSiL-35----- PI AINTIFF'S EXHIBIT CAM-58 WIT: Shirley Q. Casilan, CSR No. 12361 DAmnnaAS1 G, "irtg.BPR.RMB, CBR.CIR_ iiA 120 fWst'* 90 h Cyprus Minea C o rp o ra tio n Z May 4, 1979 We will deliver ts you an additional g the coodoa atocle of meri.e&r Tale C.o#, Ine* far a payment la cash ^1OO.#,0;O. -If we *.are--n.aabe'"tcr-'do- so by- Beccate?r-di, 1 197 y-nr will- pay-t-o-yon $10:0,000 a s -lisjuidated- damage.' for iaiTuire -to do- h o . We reprisent that Charles Mathieu:, Ine aad/or iis subsidiaries- bave no liabli.lit.ie-s. that are not- dis close d o.a its Secemfeer 31, 19:73, -b.alaaee sheet and footnotes exe-< those, iaat-rred in the ordinary course p,f baataeas since December 31, 1&78, Very truly yours, IMPERIAL PRODUCTS C O . , IN C . <r * 9$** D o n a ld 'IMrCFWxTj~ A S S A : S Joanne F. Gates 'Audrey^.J Biiby Accepted and agreed to: CYPRCS MINES C 0 R P 0 R .iT !ON /. .'.A. / l v - * y 0. r. c o A 1S ti..- V-- k ,S * <r * i .7, / /'" -, ( -i- / . 'S. TA 121