PermitsThis information is from Sedar and it concerns the mining permits. I thought I would post it so that we could put this permit discussion to rest once and for all:
"Miwah consists of three contiguous Exploration Mining Business Permits or Ijin Usaha Pertambangan
(“IUP”): IUP 634, IUP 635 and IUP 636. The Miwah Gold Deposit lies within IUP 634 which is located
approximately 130 km southeast of Banda Aceh. The total area of the Miwah IUP group is 30,000
hectares.Each of the Miwah IUPs are separately held by three Indonesian companies; namely PT Bayu
Nyohoka, PT Parahita Sanu Setia, and PT Bayu Kamona Karya. Under a series of co-operative
agreements arranged in April 2007, East Asia holds 85% interest in the Project by agreeing to provide
all exploration costs up to a bankable feasibility stage. Thereafter, all parties would finance the
commercial exploitation of the deposits in proportion to their equity interest; or dilute to a 7% net profit
interest. East Asia is the sole manager and operator of the project so long as it fulfils its funding
obligations to earn more than 50% interest in the project. "