Amendment to Silver Lease Agreement between Standard Chartered Bank, Mocatta Bullion - New York and Advanced Metallurgy, Inc.

Summary

This amendment updates the Silver Lease Agreement originally dated April 9, 1996, between Standard Chartered Bank, Mocatta Bullion - New York, and Advanced Metallurgy, Inc. The amendment increases the quantity referenced in Paragraph 2 from two million to two million six hundred thousand. All other terms of the original agreement remain unchanged. The amendment is effective upon signature by both parties.

EX-10.18(3) 17 d61078_ex10-183.txt AMENDMENT TO SILVER LEASE AGREEMENT EXHIBIT 10.18(3) Standard Chartered THE MOCATTA GROUP November 3, 1997 Advanced Metallurgy, Inc. Murray Corporate Park 1003 Corporate Drive Export, PA 15362 Attention: Vice President of Purchasing and Distribution RE: Silver Lease Agreement dated April 9, 1996 (as last amended February 14, 1997) Gentlemen: Reference is made to the above Silver Lease Agreement between Standard Chartered Bank, Mocatta Bullion - New York and Advanced Metallurgy, Inc. Please be advised that we have agreed to make the following amendment to the above Silver Lease Agreement as follows: Paragraph 2. NATURE OF TRANSACTIONS change "two million (2,000,000)" to "two million six hundred thousand (2,600,000)" All other terms and conditions remain intact. EXHIBIT 10.18(3) Please return a signed copy of this letter to us at the address shown below to indicate your agreement to the above amendment. Very truly yours, STANARD CHATERED BANK, MOCATTA BULLION - NEW YORK By: /s/ Timothy P. Dinneny ---------------------------------------- Name: Timothy P. Dinneny Title: Executive Vice President By: /s/ Randy M. Weinerman ---------------------------------------- Name: Randy M. Weinerman Title: Vice President AGREED: ADVANCED METALLURGY, INC. By: /s/ Raymond J. Matsey ------------------------------- Name: Raymond J. Matsey Title: Material Control Manager