EXHIBIT 10.2
AGREEMENT FOR LEASE/PURCHASE AND SALE OF PROPERTY
THIS AGREEMENT is made and entered into this 2nd day of September, 1996, by
and between XXXX XXXXXXXX, and individual, and T.K.M. CORPORATION, with
addresses at 00000 Xxx Xxxx Xxxx, Xxxxxx-Xxxx Xxxxx, Xxxxxxxxxx 00000 ("Seller")
and NEWGOLD, INC., a Nevada corporation, with address at 0000 Xxxx Xxxx, Xxxxx
000, Xxxx, Xxxxxx 00000 ("Buyer").
W I T N E S S E T H:
This Agreement is made and entered into with reference to the following
facts:
A. Seller is the owner, free and clear of all liens and encumbrances
(except the rights of the U.S. Government as to unpatented mining claims,
generally), of that certain property referred to as the Mission Mine, more
particularly described in Exhibit "A" attached hereto and made a part hereof by
reference ("the Property"), together with all equipment and other personal
property situate thereon, more particularly described in Exhibit "B" attached
hereto and made a part hereof by reference (the "Equipment").
B. Seller desires lease/sell to Buyer, and Buyer desires to lease/purchase
from Seller the Property, upon the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual covenants and promises
hereinafter set forth, and other good and valuable consideration, receipt of
which is hereby acknowledged, it is agreed by the parties as follows:
1. Lease/Purchase and Sale of Property. Seller hereby leases/sells the
Property to Buyer subject to the following:
(a) The purchase price shall be paid pursuant to Paragraph 2 hereof.
(b) In the event Buyer fails to tender the purchase price, pursuant to the
terms hereof, this Agreement will be terminated, the Property
surrendered to Seller and all payments made to Seller shall be retained
and deemed full consideration for the rights granted Buyer hereunder.
(c) Buyer shall have exclusive physical possession of the Property, and the
exclusive right to mine the Property, as of the date of this Agreement.
2.Purchase Price. The total purchase price for the Property shall be the
sum of THREE MILLION FIVE HUNDRED THOUSAND DOLLARS U.S. ($3,500,000.00), payable
as follows:
(a) $5,113.00 concurrent with the execution of this Lease/Purchase
Agreement;
(b) Beginning September 5, 1996, $5,000.00 per month for the first 90 days
of this Lease/Purchase Agreement;
(c) Beginning December 5, 1996, $8,000.00 per month for an additional 90
days, unless production begins during this second 90-day period, in
which event NSR payments will be payable as set forth below;
(d) At the end of the above 180 days, Buyer will make a one-time payment of
$300,000.00 to Seller for the purchase of the Equipment. This payment
shall be credited to the total purchase price of $3,500,000.00. Upon
such payment, Seller shall deliver a Xxxx of Sale for such equipment,
free and clear of all liens and encumbrances of whatsoever nature. The
parties waive the bulk sale requirements of the Uniform Commercial
Code.
(e) Beginning March 5, 1997, Buyer will begin to pay Seller the greater of
2.5% NSR1 or minimum monthly payments as follows: $10,000.00 per month
through February, 1998; $20,000.00 per month through February, 1999;
$30,000.00 per month through February, 2000; $40,000.00 per month
through February, 2001; $50,000.00 per month through February, 2002;
$60,000.00 per month through February, 2003; and $70,000.00 per month
through February, 2004, until the aggregate purchase price of
$3,500,000.00 has been paid in full. All lease/purchase payments will
be credited to the total purchase price.
(f) Amounts of monthly 2.5% NSR payments exceeding the minimum monthly
payments will be applied against the monthly payment of the final (7th)
year until paid in full, then to the monthly payments of the sixth year
until paid in full, etc., except as provided in Paragraph 2(g) below.
--------
1 The term NSR (net smelter returns) from sales of gold, as used herein,
means the amount of earned revenues, as the term earned revenues is used in
accordance with generally accepted accounting principles, payable to Buyer by
any smelter or other purchaser of gold contained in ores, minerals, mineral
substances and concentrates produced therefrom mined from the Property, less all
assaying, sampling, transportation and smelting charges. In the event such
minerals are treated or smelted at facilities owned or controlled, in whole or
in part, by Buyer, the term NSR from sales of gold shall mean the amount of
earned revenues, as the term earned revenues is used in accordance with
generally accepted accounting principles, which would have been payable to Buyer
from a bona fide purchaser of gold produced from the Property, less all
assaying, sampling, transportation and smelting charges.
(g) In the event of Force Majeure (Paragraph 11(m)) and Buyer is forced to
reduce or discontinue mining activities, the scheduled lease/purchase
payments in the second through seventh year will be reduced to a
minimum monthly payment of $10,000.00. Upon resumption of mining
activities, the minimum monthly payments shall resume as if unreduced
and excess 2.5% NSR will be credited against the prior minimum monthly
payments until paid current.
(h) All payments due hereunder shall be deemed delinquent if not received
by Seller within ten (10) days of the date due and shall incur a late
fee of $100.00 per day until paid in full.
3.Warranties of Seller. Seller represents and warrants to Buyer as follows:
(a) That Seller has not entered into any other contracts to sell, transfer,
mortgage, or assign the Property or the Equipment.
(b) During the Lease/Purchase Period, Seller will not take any action to
adversely affect the rights of Buyer hereunder.
(c) As of the date of Closing, the Property shall be free and clear of all
liens, encumbrances, chattel mortgages or conditional sales contracts,
except for claims of the U.S. Government as to unpatented mining
claims.
(d) That Seller has taken all action necessary to lease/sell the Property
and sell the Equipment and has full power and authority to do so.
(e) That the area covered by the subject unpatented mining claims, and each
of them, has been and is properly and validly located under the mining
laws of the United States of America and the State of California; that
assessment work on the mining claims, and each of them, has been
performed at the time, in the manner, and to the extent required by
law, or annual payments have been made as required by law; that the
mining claims are all in good standing, subsisting and valid as of the
date hereof, and are free and clear of all liens, encumbrances, leases
and claims of third parties, except only rights reserved to the United
States in respect of unpatented mining claims generally.
4.Warranties of Buyer. Buyer represents and warrants to Seller as follows:
(a) That prior to August 30 of each year during the Lease/Purchase Period
herein, Buyer will give Seller 45 days' advance written notice
of payment of annual BLM maintenance fees and assessment fees and taxes
due to Riverside County and will provide to Seller a copy of a receipt
evidencing payment of same within 60 days of said payment.
5. Condition of Property. Buyer acknowledges that it has inspected the
Property and the Equipment.
6. Closing and Conditions to Closing. Closing shall occur on the date the
purchase price of $3,500,000.00 is paid in full by Buyer. The period between the
date hereof and Closing shall be deemed the Lease/Purchase Period. Closing shall
take place at the offices of Buyer in Reno, Nevada, at a time mutually
convenient to both Seller and Buyer. Prior to closing, the following conditions
must be satisfied:
(a) Buyer must have completed a favorable due diligence study on the
Property and be satisfied as to the titles and status thereof.
(b) All payments due hereunder, including any late charges, annual
assessment fees, or other charges of whatsoever nature due and payable
by Buyer, shall be paid in full.
7. Obligations Upon Closing. At the Closing:
(a) Seller shall execute and deliver to Buyer a Quit Claim Deed as to the
unpatented mining claims in a form mutually deemed appropriate to legal
counsel for Buyer and Seller. The Quit Claim Deed shall be good and
sufficient to convey to Buyer the fee simple of the said mining claims,
warranting that the area covered by the said mining claims and each of
them is properly and validly located under the mining laws of the U.S.
and the State of California and are free and clear of all liens,
encumbrances, leases and claims of third parties, except rights
reserved by the United States in respect of unpatented mining claims
generally.
8. Indemnity by Seller. Seller shall indemnify Buyer against any loss,
damage, cost or expense that Buyer shall incur or suffer as a result of the
breach, untruth or inaccuracy of any promise, agreement, covenant, warranty or
representation made by Seller herein and for the benefit of Buyer.
9. Indemnity of Buyer. Buyer shall indemnify Seller against any loss,
damage, cost or expense that Seller shall incur or suffer as a result of the
breach, untruth or inaccuracy of any promise, agreement, covenant, warranty or
representation made by Buyer herein to and for the benefit of Seller.
10. Broker's /Finder's Fees. The parties warrant to and with each other
that the transaction evidenced by this Agreement was initiated, negotiated and
completed by the parties hereto directly, as principals, and without the
intervention of any broker, dealer, agent or finder, except as otherwise
provided herein. Each party agrees to indemnify and hold the other party
harmless from and against any loss, damage, cost or expense, including without
limitation, attorneys' fees and litigation expenses, resulting from any breach
or breaches of the foregoing warranty.
11. Risk of Loss. Risk of loss, damage, or destruction of the Property and
Equipment shall remain with Seller until the Closing, as to the Property, and
until delivery of the Equipment and a Xxxx of Sale, as to the Equipment, which
times risk of loss, damage or destruction of the Property/Equipment shall pass
to Buyer.
12. Buyer's Rights During Lease/Purchase Period. During the Lease/Purchase
Period hereunder, Buyer shall have the following rights and obligations:
(a) Buyer, acting through its employees, agents or representatives, or any
of them, may visit, inspect and examine the Property and by means of
pumping, re-timbering, re- excavating, or otherwise drain and
rehabilitate the mine shafts, tunnels, drifts and stopes.
(b) Buyer may, by means of diamond drilling, trenching, tunneling, or
otherwise by physical or chemical means, test and explore the ore
reserves contained therein, providing it has received prior approval
for same from the Bureau of Land Management.
(c) Buyer may mine ore materials and minerals and remove, ship, treat, sell
and dispose of the same and retain any proceeds therefrom for Buyer's
own use only after payment to Seller of the lease/purchase payments
and/or NSR payments due under Paragraph 2 hereof. Buyer may mine, assay
and mill samples for assaying and mill sampling purposes and such
samples shall be excluded from the operation of this provision up to an
amount not exceeding ten tons.
(d) Buyer agrees to pay all taxes levied and assessed upon the Property, or
any part thereof, including taxes measured on production and also
including taxes levied and assessed on improvements placed upon the
Property by Buyer during the Lease/Purchase Period, commencing with
taxes for the current year, and to make payment thereof, as required by
the statutes of the State of California so that no default in taxes on
the Property shall occur, and to deliver to Seller, upon request, the
original or duplicate tax receipts for payments made. Should Buyer be
in possession of the Property,
under this Agreement, for only a portion of a year, the tax for that
year shall be prorated between Seller and Buyer on the basis of taxes
for the last preceding year.
(e) Buyer shall keep accurate books of account showing the operations, and
particularly showing ores mined and milled, or mined and shipped by
Buyer, and permit Seller to examine such accurate information in
response to any reasonable request in regard to the condition of
underground workings of said Property, or any part thereof, or as to
the general quality and quantity of ore exposed therein, and allow
Seller to enter upon and into all parts of said premises from time to
time, and at all reasonable times and hours, for the purpose of
inspecting and surveying the same or taking samples of ore therefrom.
(f) Buyer shall assume all responsibility in case of accident to any and
all persons employed on the mining claims pursuant to this Agreement
and shall comply with all provisions of the Workmen's Compensation laws
of the State of California, as now existing, or as hereinafter amended.
In addition, until the Closing and throughout the period covered by
this Lease/Purchase Agreement, Buyer shall provide Seller with evidence
of liability insurance on the Property and Workmen's Compensation
insurance on all persons employed.
(g) Buyer shall be responsible for the maintenance, repair and/or
replacement of any and all mining machinery, equipment, tools and
facilities now or subsequently installed or placed on the Property
which it may desire to use in connection with its operations hereunder.
(h) Buyer shall not, by any act or omission, permit or suffer any liens,
encumbrances or legal process to be incurred or levied upon the
Property, and Buyer shall serve, post and maintain such notices of
non-responsibility as may be required by law to prevent liens from
attaching to the Property.
(i) Buyer shall pay all property taxes levied or assessed on any
structures, equipment, materials, supplies, facilities or personal
property which are owned by Buyer and placed upon the Property, whether
such taxes are levied or assessed to Seller or Buyer.
(j) Buyer shall conduct all of its operations on said Property in a good
miner-like manner in accordance with generally accepted mining
standards.
(k) During the term of the Lease/Purchase Period, Buyer does hereby agrees
to perform all assessment work required to be performed upon the mining
claims, or pay annual fees due by law, and does further agree to
furnish Seller with a detailed statement of all such work/payments in
order that Seller may prepare and record all proper affidavits, notices
and other documents required by law to evidence the performance of said
annual assessment work and/or annual payments due under federal mining
laws.
(l) In the event Buyer does not exercise its right to purchase hereunder,
Buyer agrees to surrender the Property to Seller in good condition,
with written evidence of same from the Bureau of Land Management.
Assuming all payments due hereunder are current, Buyer, will, however,
have the right to remove any machinery and equipment placed by it
within the Property including track, pipe, receivers and cables, but
Buyer shall, if it terminates its right to purchase hereunder, leave
all timber, chutes and ladders in place and in good condition. Buyer
shall have the right to effect the removal of such machinery and
equipment prior to the expiration of the Lease/Purchase Period, or
within thirty (30) days thereafter. Any such machinery or equipment not
removed prior to the expiration of said period of thirty (30) days
following termination of this Agreement shall be deemed affixed to the
Property and shall become and remain the property of Seller.
(m) If, for any reason, there shall be a default on the part of Buyer
during the Lease/Purchase Period, and Buyer shall fail or refuse to
comply with any of the terms or provisions hereof, then, at the option
of Seller, Seller may give notice in writing to Buyer of such default
specifying the nature and character thereof and, unless the default
shall be corrected, or action commenced to correct such default, within
thirty (30) days after receipt by Buyer of such notice, then, at the
option of Seller, this Agreement and all rights of Buyer hereunder
shall be terminated and Buyer shall quietly and peaceably surrender the
Property to Seller.
13.Patents. Throughout the term of this Lease/Purchase Agreement, Seller,
or Buyer on behalf of Seller, shall have the right to proceed under the Mining
Laws of the United States to patent any or all of the unpatented mining claims
included in the Property.
14. Cancellation by Seller. If Buyer fails or refuses to pay any payments
or NSR royalties when due hereunder, or fails to perform any other terms,
conditions or covenants, or any part thereof, as provided herein, and such
default continues for a period of thirty (30) days after
receipt by Buyer of Seller's notice thereof, Seller or its agents may re-enter
and take possession of the Property and this Agreement shall be forthwith
terminated; provided, however, that upon such termination, Buyer shall be liable
for all accrued financial obligations under this Agreement. However, in the
event the default is not related to payment of monies, then Buyer shall not be
deemed in default if it commences efforts to cure such default within thirty
(30) days after receipt of Seller's notice thereof.
15.Cancellation by Buyer. If any of the following circumstances occur,
Buyer may terminate this Lease/Purchase Agreement and be relieved of any and all
further unaccrued financial obligations to Seller herein, upon thirty (30) days'
written notice to Seller:
(a) Buyer is unable to obtain state and BLM permits for mining in
quantities required, in Buyer's opinion, for economical operation of
the Property;
(b) Buyer is unable to establish, in Buyer's opinion, sufficient mineral
reserves exist on the Property to provide economical operation; or
(c) Buyer is unable to continue mining operations due, in Buyer's opinion,
to a lack of mineral reserves.
16. Miscellaneous.
(a) Time. Time is of the essence of this Agreement and in the performance
and enforcement of each of the promises, covenants, representations and
warranties of the parties contained herein.
(b) Entire Agreement. This Agreement constitutes the entire agreement of
the parties and all prior rights, negotiations, obligations, agreements
and representations, if any, are merged herein.
(c) Binding Effects. This Agreement shall inure to the benefit of, and be
binding upon, the parties and their respective heirs, executors,
administrators, successors and legal representatives.
(d) Applicable Law. This Agreement shall be construed in accordance with
the laws of the State of California.
(e) Notices. Any notice or notices which any party hereto is required, or
deems necessary, useful or convenient to give to any other party or
parties hereto, at any time and from time to time, shall be in writing
and shall be personally served upon or mailed to the parties by U.S.
Mail, postage prepaid, certified, return receipt requested, at the
following addresses:
To Seller at: 0000 Xxx Xxxx Xxxx
Xxxxxx-Xxxx Xxxxx, Xxxxxxxxxx 00000
To Buyer at: 0000 Xxxx Xxxx, Xxxxx 000
Xxxx, Xxxxxx 00000
With copies to: Xxxxxxx X. Xxxxxxxx, Esq.
0000 Xxxxxxxxx Xxxxx, Xxxxx 000
Xxxx, Xxxxxx 00000
Notice shall be deemed given five (5) days after personal service or
postmark by the U.S. Postal Service.
(f) Attorneys' Fees and Costs. If any legal action or any arbitration or
other proceeding is brought for the enforcement of this Agreement or
because of an alleged dispute, breach, default or misrepresentation in
connection with any of the provisions of this Agreement, the successful
or prevailing party shall be entitled to recover reasonable attorneys'
fees and other costs and expenses incurred in that action or
proceeding, in addition to any other relief to which it may be
entitled.
(g) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to constitute but one and
the same instrument.
(h) Captions. Article and paragraph captions contained in this Agreement
are inserted only as a matter of convenience and reference. Said
captions shall not be construed to define, limit, restrict, extend or
describe this Agreement or the intent of any provision hereof.
(i) Gender and Number. Whenever used in this Agreement and as required by
the context of the transaction, the single number shall include the
plural, the plural number shall include the singular, and masculine
gender shall include the feminine and neuter.
(j) Form of Association. As required by the context, the term "person"
shall include individuals, partnerships, limited partnerships,
corporations, estates and trusts.
(k) Facsimile/Photocopies. The parties agree that a fully executed
facsimile or photocopy of this Agreement shall have the same force and
effect as the original.
(l) Arbitration of Disputes. All claims, disputes and other matters in
question between the parties to this Agreement, arising out of or
relating to this Agreement or the breach thereof, shall be decided by
arbitration in accordance with the Commercial Arbitration Rules of the
American Arbitration Association, unless the parties agree otherwise.
No arbitration, arising out of or relating to this Agreement shall
include, by consolidation, joinder, or in any other manner, any
additional person not a party to this Agreement, except by written
consent of the parties containing a specific reference to this
Agreement and signed by any person sought to be joined. Any consent to
arbitration involving an additional person or persons shall not
constitute consent to arbitration of any dispute not described therein
or with any person not named or described therein. This Agreement to
arbitrate, and any agreement to arbitrate with an additional person or
persons duly consented to by the parties to this Agreement, shall be
specifically enforceable under the prevailing arbitration laws.
Notice of the demand for arbitration shall be filed in writing with the
other party to this Agreement and with the American Arbitration
Association. The demand shall be made within a reasonable time after
the claim, dispute or other matter in question has arisen. In no event
shall the demand for arbitration be made after the date when
institution of legal or equitable proceedings based on such claim,
dispute or other matter in question would be barred by the applicable
statute of limitations.
The award rendered by the arbitrators shall be final and judgment may
be entered upon it in accordance with applicable law in any court
having jurisdiction thereof.
The arbitration shall be by three (3) neutral arbitrators; one selected
by each party to this Agreement and the third selected by the two
selected by the parties.
(m) Force Majeure. Whenever the time for performance of any act hereunder
is limited and the performance thereof is hindered, prevented or
delayed by any factor or circumstance beyond the reasonable control of
the party obliged to perform and which said party could not have
avoided by the use of due diligence, such as acts of God, fire, floods,
or other acts of nature, riots or civil commotions, casualty or other
cause, regulations, orders or requirements of the Government, embargos,
war or other disabling
causes, whether similar or different, then the time for the performance
of any such act or obligation shall be extended for a period equal to
the extent of such delay.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the
day and year first above written.
T.K.M. CORPORATION, "Seller"
By:________________________ By:________________________
XXXX XXXXXXXX, "Seller"
NEWGOLD, INC., "Buyer"
By:________________________
Xxxxxx Xxxxx Xxxxxxx,
President
MISSION MINE
CLAIMS LIST
AUGUST 1996
Mission Mine 1
Xxxx 1 through 9 9
Xxxx A, B, C 3
Star 1 through 4 and 10 5
New Duplex 1
New Duplex 1&2 2
New Xxxx 2 1
22
CAMC Nos. 113882 through 113895
116957 through 116963
24370
MISSION MINE
EQUIPMENT LIST 26TH JANUARY 1996
Ref. Photo
Number No.'s
1 0x,x Xxxxxxx Diesel generator XX X-X
0x,x,x Seriel #262114512
Type: BRKT RPM 1800
KVA: 281
Cycles: 60
Volts: 208/240
Amps: 780/678 416/480
Phases: 3
PF: 0.8
Frame: 2300 Constr. Bk. 67
Powered By: G.M. Diesel 1271 V12
Model: #71257230
List: #KS15929 List 11-5
Total Hours: 1,205.8
2 3 G.M. Hercules Diesel Generator (100 KW)
Seriel #105334
#47A6340
Speed: 1450 RPM
Volts: 125-250
Amps: 400
Total Hours: 13,105
3 4 10KVA Dieter Diesel, 440 volt, 3 phase
generator, air cooled
Series #2602
4 5a,b Xxxxxx Hammer CSS Switchboard
Seriel #C85048844
Volts: 277/460
3 phase, 4 wire
60 Hertz
400 amp sully rating
400 section rating
5 25 KVA 110 volt single phase transformer
6 75 KVA, 33 phase transformer
Seriel #T-1-59444-3
7 36 volt, 220 volt, 3 phase
Seriel #82301079
8 D.C. Power Supply
H.B.8. Equipment Division
Model #L2000 9M
Seriel #814585
DC 9 volts, 2000 amps
Input AC 50, 230 volts
9 6a,b Precious metal electro winning electro-
plating circuit
Seriel #81458E
10 Miscellaneous electrial motors, new and used
Air Compressors and Equipment
11 7a,b In Portable Building
0x,x,x Xxxxxxx-Xxxxxx vertical air compressor
600 cfm
Bore L.P.6
Bore H.P. 43/4
Stroke 5
Model #WB 04011
Seriel #174721
Speed 870 rpm
Pressure 100 psi
Powered by: CAT Diesel, Diesel engine
Caterpillar - Rookford P.T.O.
Model PTA - 11450
Seriel #209256
Inclusive with pressure vessels
12 9 Two portable trailer mounted 150 cfm
air compressors
10 Xxxxxxxxx - Xxxx and Xxxxx
13 62 Air operated hoist and bucket
14 62 Underground drilling equipment
15 Miscellaneous new and used air motors
16 Compressor hoses and drill components
Hoist, Crushing, Milling and Extractive
Equipment
17 11a,b Ore Skip (2)
18 11a,b Man elevator
19 12a,b,c Hoist - U.S. Navy
#21 Deck Wind
Mfg by Westinghouse, 50 h.p., 250 V,
DC with multiple speeds
Sorgel Air cooled transformer H-ins, 20 KVA
60 cycles, 1-phase
Seriel #X13594-6
20 64 Five underground ore cars (1.5 tons)
21a 45/46 Water tank - 18,000 gallon storage
b Water tank - 6,000 - 7,000 gallon
22 43 3x2500 gallon fuel storage tanks
23 46,15, 4 storage hoppers - miscellaneous
16 60 ton: 85 ton on headname, 1(degree)
crusher
24 16,17, 4x30', 2x10' and 1x5' conveyors,
18,22-26 7 in total
25 28,29 1x40' bucket elevator
26 29,30 3 storage hoppers, 50 tons each
27 21 1 Double Jaw Iowa crusher
Cedar Rapids 18"x40" and 6"x40"
Model DJ50, 50 tons per hour to minus 1
(degree)
20 Powered by: GMC 671 Diesel engine
28 26,27 1 Xxxxxxx gearless cons crusher
Model 25 1/2, #2851867, Electric powered,
50 hp motor
25 tons per hour to minus 1/4"
30 31,32 Rod Mill, Xxxxxxx - Xxx Xxxx
33,34 5'x8', 13 ton rod charge capacity with rods
75 hp electric motor
Machine #1389
Gear Box: Xxxxx Corp
Model #71/2 gho
M.O. 6920-0252
31 57 Hummer 3'x4' fine screen vibratory
classifier
32 35,36 Wemco attritiion machine, size 20
3 tank agitator
33 38 Denver, 3 cell floatation unit, each 30"x36"
34 40 Xxxxx Xxxxx, 4 call floatation unit 18"x24"
35 41 1 shaker table concentrator 4"x9"
36 63 2 sand pumps 3", 7.5 hp electric motor
37 15,18, 4 goose-neck double bogey trailers, 8 wheel,
21,22, on which plant is mounted
23,27,
29,30,
31,32,
34,40
38 2 electric transformers in circuit
39 42 Various electrical overload, relay and
starter panels
110/220/440 volts
40 1 explosive storage bunker
41 37 Sparkletts all-steel/rubber-lined clarifier
42 37 15-test precious metals gravity belt
concerntraing table denver jig
43 8 fiberglass tanks, 8'x4'
44 Steel tailings trough, 30'x50'x2'
45 58,62 2x40' shipping containers
46 62 2x27' shipping containers
47 13 1 Comet radial arm saw, 24" carbide
tipped blade
10 hp, 220/440 v
48 59 Speedy-melt amalting furnace with
#70 crucibles
49 2 Screw feeders, 10"x8'
50 Vertical antenna tower
Vehicles
51 48,49 1 Crane, Garwood, model 75B
Detroit diesel powered model 471,
15 ton with drag line
