THE INFORMATION ABOUT THE MINING AREA :

Exploitation Area : 396,8 ha

Mining Deposit : 15 million MT approx.

Supply Capacity : 100.000 – 150.000 WMT/month

Distance Stockpile to Jetty : + 150 m

Mother Vessel anchorage : + 5 miles from Jetty

Loading Rate : 5.000 WMT/day

We accordingly make the following offer :

Commodity : Nickel Ore

Delivery : laycan is to be mutually agreed for the trial shipment, and to follow one shipments by monthly shipments as per the mutually agreed laycan periods.

Specification:

At “Dry Basic” (DB), with the following specifications at JIS standard method and/or ASTM and/or other related international method used by surveyor in the loading port, unless otherwise stated :

Commercial Specifications: (to state in the Contract, Letter of Credit and for invoicing purpose)

Ni (Nickel) : 1.8% as base, otherwise bonus/penalty to apply

Fe (Ferrum) : 30% maximum, otherwise penalty to apply

P (Phosphorus) : 0.02% maximum, otherwise penalty to apply

Total Moisture : 30% maximum, otherwise penalty to apply

Price (updated January 23, 2009)

USD 19/MT – FOB South Konawe District, Southeast Sulawesi Province – Indonesia, basis Nickel 1.8% and Moisture content 30%.

Demurrage / Dispatch:

As per Charter Party Subject to approval PT. Integra Mining Nusantara.

Weighing/Sampling/Analysis:

The testing should be conducted by qualified independent and recognized testing institute agreed by both Buyer and Seller, in this respect PT. Sucofindo. Loading port certification on Quality and Quantity will be binding for commercials invoicing and settlement.

Payment Term:

Irrevocable Letter of Credit at sight 100%, issued by a first class international bank acceptable to and in favor of PT. Integra Mining Nusantara. All charges in connection of establishing Letter of Credit are PT. Integra Mining Nusantara account.

Term of Delivery

30 days max. after receive the L/C

Price Computation Formula:

LME price based on the previous months average