The Company’s primary project is located in the northwestern part of the Republic of Yemen where it owns an exclusive exploration license of 698 square kilometers aerial extent. Nickel, Copper, Cobalt and Platinum have been discovered on three of the Company’s licenses at Suwar, Wadi Qutabah and Al Masna, while a gold deposit has been discovered on its Al Hariqah project. In November 2008, the Company signed a letter agreement with Vale International SA (“Vale”), a wholly-owned subsidiary of Companhia Vale do Rio Doce (NYSE: RIO, Vale), for the Company’s Suwar, Wadi Qutabah nickel, copper, cobalt and platinum group element projects in Yemen. The second project is in Nevada, USA where the Company has a 100% interest in 7 gold exploration prospects secured with 267 claims. |
