Business Description
We are an exploration stage company engaged in the business of acquiring mineral
exploration rights throughout Asia, exploring for commercially producible quantities
of minerals, and exploiting any mineral deposits we discover that demonstrate
economic feasibility. Since we are an exploration stage company, there is no
assurance that commercially exploitable reserves of valuable minerals exist
on any property that we now own or may own in the future. We will need to do
further exploration before a final evaluation of the economic and legal feasibility
of our future exploration is determined.
We are presently seeking to acquire mineral exploration rights. Such rights
will likely be in the form of an option on patented or unpatented mineral claims
prospective for precious metals or ore minerals in Asia. Upon acquiring such
mineral exploration rights, we will require financing to explore the underlying
claims to determine if they contain commercially producible quantities of precious
metals or ore minerals. We will be unable to estimate the cost of such exploration
until we know the size and location of the property underlying our mineral rights.
We expect that such exploration costs will typically consist of fees to be paid
for consulting services connected with exploration, the cost of rock sampling
(the collection of a series of small chips over a measured distance, which is
then submitted for a chemical analysis, usually to determine the metallic content
over the sampled interval, a pre-determined location(s) on the property), and
cost of analyzing these samples. There is no assurance that we will be able
to locate a suitable exploration property, or that if we do, it will contain
commercially producible quantities of minerals.
If we discover significant quantities of precious metals or mineral ores on
any property underlying our mineral rights, we will begin technical and economic
feasibility studies to determine if we have reserves. We will not be able to
estimate the cost of such feasibility studies until we know the size and location
of the property. We will only consider developing a property if we have proven
reserves of precious metals or mineral ores that can be profitably extracted.
Any work that would be conducted on a property would be conducted by unaffiliated
independent contractors that we will hire. The independent contractors will
be responsible for surveying, geology, engineering, exploration, and excavation.
The professional engineers and geologists we engage will evaluate the information
derived from the exploration and excavation, and will advise us on the economic
feasibility of removing the mineralized material.
We intend to seek out prospective mineral exploration properties by retaining
the services of professional mining geologists. As of the date of this Annual
Report, we have not selected a geologist. We are initially focusing our exploration
efforts in the Asia.
Any mineral property to be considered for acquisition will require due diligence
by our management. Due diligence would likely include financial due diligence
review and purchase investigation costs such as professional fees charged by
consulting geologists, preparation of geological reports on properties, title
searches and travel costs associated with on-site inspections. During this period,
we would also need to maintain our periodic filings with the appropriate regulatory
authorities and would incur legal and accounting costs. In the event that our
available capital is insufficient to acquire an additional mineral property
and sustain minimum operations, we would need to secure additional funding.
The focus of our exploration activities will be gold and other precious metals.
While it is possible that a mineral property we acquire may host a commercially
viable ore deposit suitable for production, we plan to option or sell any ore
bodies that we may discover to a major mining company. Many major mining companies
obtain their ore reserves through the purchase of ore bodies found by junior
exploration companies. Although these major mining companies do some exploration
work themselves, many of them rely on the junior resource exploration companies
to provide them with future deposits for them to mine. We expect that optioning
or selling a deposit found by us to these major mining companies will yield
available capital to fund operations, while avoiding the substantial cost and
investment horizon involved in mineral property development.
The success of our mineral exploration will depend upon finding commercially
producible quantities of minerals, which are mineral deposits that have been
identified through appropriate spaced drilling or underground sampling as having
sufficient tonnage and average grade of metals to profitably remove them.
There can be no assurance that we will be able to acquire a mineral property
that has commercially producible quantities of any mineral, or that we will
discover them if they exist. If we are unable to find reserves of valuable minerals,
or if we cannot remove the minerals because we either do not have the capital
to do so, or because it is not economically feasible to do so, we may be forced
to sell or abandon our mineral interests or to cease our exploration activities
altogether.
We do not presently own or have any rights to a mineral property. We have no
reserves of any type of mineral.
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