Loan Agreement, dated September 11, 2008 between Minera Licancabur S.A. and Contratista en Geologia, Mineria y Construccion Jorge Orellana E.I.R.L. (English Translation)

Exhibit 10.7

(English Translation)

SIGHT LOAN
JORGE ORELLANA E.I.R.L.
TO
MINERA LICANCABUR S.A.

In Santiago de Chile on September 11, 2008, there appears JORGE ORELLANA E.I.R.L., RUT No. 76,458,450-3, represented by JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, for these purposes both domiciled at LATORRE No. 2077, CALAMA, and in transit in this city, hereinafter “LENDER,” and MINERA LICANCABUR S.A., RUT No. 76,009,516-8, represented by JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, domiciled at LA PASTORA No. 121, OFFICE 201, LAS CONDES, hereinafter the “BORROWER,” the deponents being of legal age, who prove their identity with the aforementioned identity cards and state:

ONE: JORGE ORELLANA E.I.R.L. delivers to MINERA LICANCABUR S.A. the amount of $200,000,000 (TWO HUNDRED MILLION PESOS), which it receives to its full satisfaction accepts for itself.

TWO: MINERA LICANCABUR S.A. undertakes and promises to refund the amount received on sight, without interest and without defined term.

THREE: The expenses and taxes levied on this loan contract will be paid by the borrower.

FOUR: For all legal purposes, the parties establish domicile in the community of Santiago in the Metropolitan Area.

The tax levied on this loan was paid by form 24.1 FOLIO 0544782

I certify the signature of JORGE OSVALDO ORELLANA ORELLANA, IDENTITY CARD No. 6,784,858-6, in representation of JORGE ORELLANA E.I.R.L., as Lender, and in representation of MINERA LICANCABUR S.A., as Borrower

SANTIAGO, SEPTEMBER 11, 2008.

[stamp:]
ANTONIETA MENDOZA ESCALAS
NOTARY PUBLIC
16^th NOTARY OF SANTIAGO