Letter of Intent for Purchase of Irene Una al Dos Mining Claims between Minera Polymet Ltda. and Minera Farellón Limitada

Contract Categories: Business Finance › Purchase Agreements
Summary

Minera Polymet Ltda. and Minera Farellón Limitada have agreed in principle for Polymet to purchase two mining claims, Irene Una al Dos, in Vallenar, Chile, for the equivalent of 21 million Chilean pesos in US dollars. Polymet will cover notary and title transfer costs. The sale will close after Polymet completes due diligence, during which Farellón will provide all requested information. Farellón guarantees the claims are free of other claims and will not negotiate with other parties. Both parties have acknowledged and accepted these terms.

Read More Arrow
EX-10.9 3 ex_10-9.htm LETTER OF INTENT ex_10-9.htm
Exhibit 10.9
 
LETTER OF INTENT
 
02 February 2009
 
Minera Farellón Limitada
Baldomero Lillo
Vallenar, Chile
 
Re:
Pertenencia Irene Una al Dos
 
Comuna de Vallenar, Huasco, III Region, Chile
 
This letter reflects the terms under which we intend to purchase these two mensura pertenencias:
 
 
1.
The price is the equivalent of $21,000,000 Chilean pesos in US dollars.
 
 
2.
We will pay the notary costs incurred in documenting the purchase and transferring the titles.
 
 
3.
The closing will follow when we have completed our due diligence review.
 
 
4.
You will provide any data that you have and information that we request for our due diligence review.
 
 
5.
You hold the title to the mensuras free and clear of any claims and will keep them clear of claims.
 
 
6.
You will not offer the mensuras to any other party or accept any other offer
 
Please sign below acknowledging your consent to these terms.
 
Yours very truly,
 
Minera Polymet Ltda.
         
/s/ Kevin Mitchell
    
 
  
Kevin Mitchell
    
 
  
 
Minera Farellón Limitada accepts the foregoing terms on 02th February 2009.
         
/s/ Kevin Mitchell
    
 
  
Kevin Mitchell