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FOREWORD
ACCEX HOLDING CORPORATION is a private company headquartered
in Brazil which holds active portfolio asset management of Brazilian companies and
organizations focused in sustainable development and large-scale mining projects
through national and international joint venture working agreements.
ACCEX has been structured to develop and perform the most challenge
and profitable projects in Brazil, aiming at achieving great results in short, medium
and long terms.
In view of the above findings, our main purpose is to provide
information on profitable business opportunities to the investors who shall be
interested in joining our company to venture outstanding entrepreneurships
concerning to mining by understanding the Brazilian and international commodities
market to be henceforth presented by ACCEXs professional team who has taken all
reasonable care to ensure that the facts stated herein are true to the best of their
knowledge, information and belief and is distributed only to and directed at persons
who have professional experience in matters relating to mining investments. Any
person who does not have professional experience in the matters relating to
investments should not act or rely on this document or any of its contents.
No reliance may be placed for any purpose whatsoever on the
information or opinions contained in this document or on its completeness and no
liability whatsoever is accepted for any loss howsoever arising from any use of this
document and other documents related to Figueira Branca Gold Mining Project.
In addition, this Business Plan includes general information on the
Brazilian Mining, Environment and Tax Legislation for prospective Investors
who are interested in full acquisition of mining areas or in performing joint venture
agreement (JVA) to start in December, 2014.
Prospective Investors are encouraged to obtain separate, independent
and rigorous verification of information and opinions contained in this Business
Plan and other related documents as part of their own due diligence.
By accepting this document, the Recipient agrees that the information
contained herein or sent herewith or made available is for information purposes
only without prejudice to the foregoing, neither the Provider, nor its advisers nor its
representatives accept liability whatsoever for any loss howsoever arising, directly
or indirectly, from the use of this document or otherwise arising in connection
therewith.
Copyright MMXV. ACCEX Holding Corporation. All Rights Reserved.
INDEX
SECTION I INTRODUCTION
1. BUSINESS ACTIVITIES .................................................................................................................................. 5
2. CORPORATE STRUCTURE ........................................................................................................................... 6
3. ENVIRONMENT PROTECTION .................................................................................................................. 7
4. MARKET ANALYSIS ........................................................................................................................................ 9
4.1 NATIONAL MARKET .............................................................................................................................. 9
4.2 INTERNATIONAL MARKET ............................................................................................................. 11
SECTION II LEGAL ASPECTS
1. MINING IN THE BRAZILIAN CONSTITUTION ................................................................................. 12
2. MINING CODE .................................................................................................................................................
2.1 SYSTEMS ...................................................................................................................................................
2.1.1 BOARD OF APPLICATION ............................................................................................................
2.1.2 EXPLORATION AUTHORIZATION APPLICATION ............................................................
2.1.3 RESTRICTED APLICATION ...........................................................................................................
2.1.4 EXPLORATION AUTHORIZATION SYSTEM .........................................................................
2.2 MINING COMPANY ...............................................................................................................................
2.3 RESEARCH AUTHORIZATION PERMIT .....................................................................................
2.4 FORFEITURE OF EXPLOITATION CONCESSION ...................................................................
2.5 CONCESSION FOR USE .......................................................................................................................
2.6 PERMISSION FOR GEOLOGICAL RECONNAISSANCE ..........................................................
2.7 CLAIMSTAKE MINES ...........................................................................................................................
2.8 MINING GROUPING AND MINING CONSORTIUM .................................................................
2.8.1 MINING GROUPING .........................................................................................................................
2.8.2 MINING CONSORTIUM ...................................................................................................................
2.9 LAND OWNERS SHARE IN MINING RESULTS ........................................................................
2.10 LICENSING SYSTEM ..........................................................................................................................
2.11 EXTRACTION SYSTEM ....................................................................................................................
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SECTION I INTRODUCTION
1. BUSINESS ACTIVITIES
All business activities developed by ACCEX HOLDING CORPORATION
are subject to the federal, state, provincial, regional and local environmental laws
and regulations in the jurisdictions in which ACCEXs activities and facilities are
located, duly registered and authorized by the Brazilian Revenue Office (RFB) with
CNPJ/MF n. 17.830.482/0001-00, and by the Commercial Office of The State of
Amazonas (JUCEA) with n. 1320060766-0, in compliance with the National
Classification of Economic Activities (CNAE), to perform diversified businesses,
including, but not being restricted to, the following ones:
HOLDINGS OF NON-FINANCIAL INSTITUTIONS, comprising the
activities of economic entities that have control of capital (shares) of a group of
companies with predominantly non-financial activities and may even act as
management and administration business of such group companies; representation
of other companies, national or worldwide, on their own or third parties, equity
interests in other private commercial or service companies, as business partner or
shareholder;
HOLDINGS OF FINANCIAL INSTITUTIONS, comprising the activities
of economic entities that have control of capital (shares) of a group of companies
with activities mainly financial, inclusively being able to exercise functions of
management on the affairs of such group companies;
OTHER FINANCIAL SERVICE ACTIVITIES NOT OTHERWISE
SPECIFIED, including the services of purchasing receivables tax to pay federal taxes,
state and local, except factoring and securitization;
ACTIVITIES OF FUNDS MANAGEMENT, comprising the activities of
portfolio management and securities for third parties;
NON-FINANCIAL INTANGIBLE ASSETS MANAGEMENT, comprising
activities that enable the use of non-financial assets by third parties, as by
guaranteeing the right of use from the payment of royalties or license to use asset
owner being or not being responsible for its creation, with permission for
reproduction, utilization in various processes and products, operation of franchises,
among others, including the purchase, sale and licensing (leasing) by the use of
trademarks and patents, as well as the sale and licensing of franchises and receiving
royalties and mineral rights;
the fluctuating dollar rate. Thus the domestic price is calculated directly for the
changes in the market price of the dollar and fluctuating metal prices on the NYSE.
The price of gold in real grams, calculated from the price in dollars per troy ounce
(the U.S. dollar floating) provides a benchmark price. Traditionally, the price of the
BM&F maintains parity with this reference value ranging 2% (Two Percent) on
average.
There are two types of investors in the gold market in Brazil: the
traditional investor - which uses gold as a store of value and speculators who are
looking for immediate gains in relative gold/dollar/stock looking for the best
alternative at the time.
There are 02 (Two) markets in Brazil for the gold:
I Over-the-counter (OTC): operations are closed via phone, after the
payment, the buyer has two options: leave the gold deposited in escrow with a
financial institution, carrying a certificate of custody; or physically remove the
amount of gold gained;
II Spot Market on Stock: the delivery of the gold occurs in 24 hours,
trading volumes are transferred automatically between customer accounts in
different banks without the metal passes through who negotiates.
In the stock market, certificates are exchanged property. And in any
case, the responsibility for the quality of the metal is the mining companys, and not
the bank, which is only the commodity custodian.
There are three ways to purchase gold on BM&F Bovespa. The most
common is to purchase the metal in the spot market. But investors can also make the
purchase through the futures market and options. The futures market contracts
allow the purchase of gold by a certain fixed price on a set date. But until maturity,
sellers and buyers of contracts should go pay adjustments to each other depending
on the variation of the metal price (appreciation or depreciation).
In option contracts, the investor pays for the right to make the purchase
at a given price on the exercise date. In option contracts, the investor has no
obligation to buy, unlike the futures business.
Contracts available are traded on the spot market. This same standard
lot is futures and options contracts of purchase and sale (for which the investor
acquires the right, but not the obligation, to negotiate the asset at a specified price
fixed in a future period).
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11
(45%), Switzerland (32%), the United Arabic Emirates (12%), the United States
(9%) and Canada (2%). The major gold reserves are located in South Africa (6,000
tonnes), accounting for 14% (Forteen Percent) of the total reserves on Earth.
SECTION II LEGAL ASPECTS
1. MINING IN THE BRAZILIAN CONSTITUTION
The fundamental principles governing the use of mineral resources in
Brazil are defined and consolidated in the current Federal Constitution enacted on
the 5th of October, 1988 and in the Constitutional Amendments 6 and 9 dated the
15th of August, 1995.
In the light of constitutional rights, the constitutional legal framework
of the mining activity in Brazil is described as follows:
Mineral resources, including those in the subsoil, are property of the
Federal Government;
Deposits, mines and other mineral resources are distinct properties
that differ from property of the soil for the purpose of survey and exploitation,
guaranteeing the concessionaire company the ownership of the mining product;
Mineral resources may only be explored and mined under the
authorization or concession of the Federal Government, by a Brazilian person or
company incorporated under the Brazilian law which has its head office and
administration in Brazil, being the mining product ownership guaranteed to the
concessionaire;
The following is under the Federal Governments monopoly:
Exploration and exploitation mining of oil, natural gas and other fluid
hydrocarbon deposits;
Import and export of products and basic by-products resulting from
exploitation of oil and natural gas and other fluid hydrocarbons, and from oil
refining;
Maritime offshore transportation of crude oil from Brazilian origin or
basic oil by-products produced in the country, as well as transportation of crude oil,
its by-products and natural gas from any origin through pipelines;
Copyright MMXV. ACCEX Holding Corporation. All Rights Reserved.
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LEGAL
AMAZON1
OTHER
REGIONS
10,000 ha
2,000 ha
50 ha
50 ha
1,000 ha
1,000 ha
The Legal Amazon covers the region including the States of Rondonia, Acre, Amazonas, Roraima, Para, Amapa and
Tocantins, and by some areas of the State of Mato Grosso North Latitude 16, and the State of Maranhao West
Longitude 44.
1
For immediate use in civil construction, preparing aggregates and mortar, providing that they do not undergo
industrial processing.
2
Rock trimmed or chiseled for cobbles, crosshead guides, gutters, stays and similar products. Rock crushed for
immediate use in civil construction.
6
15
16
17
18
PERIOD
CHARGE VALUE
(UFIR/HA/YEAR)
1.0
1.5
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Brazils mineral resources, which then became fell under federal domain. The
Constitution itself acknowledged, however, the right acquired by the owners of
mining deposits, albeit temporarily suspended or stopped, providing that they were
documented and registered at DNPM, within the period and as stipulated by an
infra-constitutional law (1934 Mines Code).
The mining rights of manifest claimstake mines still prevail, and their
holders are liable subject to the same conditions and obligations stipulated by the
Mining Code and its Regulations for assigned mines (Mining Concession System),
concerning in relation to mining, taxation and inspection.
2.8 MINING GROUPING AND MINING CONSORTIUM
Also under the Mining Concession System, it is worth mentioning the
existence of two important legal figures instituted to allow greater economic
efficiency and productivity in mining activities as follows:
2.8.1 MINING GROUPING
On DNPMs authorization, several mining concessions of the same
holder and the same mineral substance, in an area of the same deposit or
mineralized zone, can be joined into a single mining unit called Mining Grouping;
The concessionaire company of the Mining Grouping, by DNPMs
criteria, can concentrate the mining activities in one or a group of concessions,
providing that the intensity of the mining is compatible with the importance of the
total combined reserve;
The Mining Grouping is subject to the same obligations and penalties
stipulated under the mining law for mining concessions in general.
2.8.2 MINING CONSORTIUM
This is a legal entity constituted by nearby or neighboring holders of
mining concessions, open or situated on the same deposit or mineralized zone, in
order to increase extraction productivity;
The authorized Consortium is liable for fulfilling all conditions and
obligations set out in the Book of Burdens Charges, included the respective
authorization;
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22
23
24
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26
Provides for the National Environmental Policy, its purposes and mechanisms of
formulation and application;
Law n. 9.605 dated the 12th of February, 1998 Provides for penal
and administrative sanctions derived from conduct and activities harmful to the
environment;
Federal Decrees:
Decree n. 97.632 dated the 10th of April, 1989 Provides for a Plan
for rehabilitating an area degraded by mining;
Decree n. 99.274 dated the 6th of June, 1990 Regulates Law n. 6,938
dated the 31st of August, 1981;
Resolutions of the National Council for the Environment CONAMA:
CONAMA Resolution n. 1 dated the 23rd of January, 1986 Fixes
basic criteria and general guidelines for the Report on Environmental Impact (RIMA);
CONAMA Resolution n. 009, dated the 6th of December, 1990
Regulates on specific rules to obtain the environmental license for mineral extraction,
except those for immediate use in civil construction;
CONAMA Resolution n. 010, dated the 6th of December, 1990
Regulates on establishing specific guidelines for extracting mineral substances for
immediate use in civil construction;
CONAMA Resolution n. 2, dated the 18th of April, 1996 Provides for
compensation for environmental damages caused by projects of relevant
environmental impact;
CONAMA Resolution n. 237 dated the 19th of December, 1997
Provides for the procedures and guidelines used in environmental licensing.
The states and municipalities have supplementary jurisdiction, decreed
by the Federal Legislation itself, to discipline on a complementary basis, in its areas
of jurisdiction, the regulations set by the Federal Government pursuant to
environmental issues, and the latter cannot, therefore, contest them.
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COMPETENCE
TAX/LEVY
CALCULATION BASIS
Federal
Federal
Social Charges
Federal
Net Profit
Federal
Gross Operating
Income
Federal
Billings
Federal
Payroll
State
Sale of Products
COMPETENCE
LEVY
CALCULATION BASIS
Federal
Net Billings
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consolidated, and an annual base obtained to calculate too many or too few
payments made during the year. In addition to depreciation, amortization of preoperating expenses, compensation for losses in previous years, losses in foreign
currency exchange and other deductions foreseen in tax law and applicable to any
industrial activity, in the specific case of mining the following are also considered
deductible when calculating the taxable profit:
Depletion Allowance Calculated on the volume of production in
the year in relation to the mines known reserves, based on the cost of acquiring or
obtaining the restated mining rights or, if the company is not the holder, the duration
of the mines leasing contract;
Exploration Expenses Any expenses incurred during the
exploration stage and when expanding the reserves of the mine can be deducted as
working expenses, or capitalized and amortized for the minimum period of 05 (Five
years) from the start-up date of the mine;
Expenses Incurred in The Mines Development They may be
capitalized and amortized for the minimum period of five years from the start-up of
the mine. It is important to stress that dividends, bonuses and any other kind of
profit distribution, when paid or credited to individuals or companies resident and
domiciled in Brazil or abroad, will no longer be liable for withholding income tax,
(IRRF - Imposto de Renda Retido na Fonte), nor will be considered in the
calculation of income tax calculation base of its beneficiaries.
1.2 WITHHOLDING INCOME TAX ON INTEREST AND ROYALTIES
The payment of interest and royalties to non-residents is liable for
withholding tax (IRRF) on the basis of 15% (Fifteen Percent) or a lower tax rate,
when existing there is a treaty between Brazil and the receiving country.
1.3 IMPORT TAX
A federal tax on the Free on Board (FOB) value of goods imported by
Brazil, whether primary, semi-manufactured or manufactured.
Concerning primary mineral goods, the tariff applicable to almost all is
practically zero today. It is worth mentioning that the products, when coming from
any Southern Common Market (MERCOSUR) member country have preferential
tariff treatment.
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33
MAXIMUM RATE
Interstate
18%
12%
18%
Exportation
13% (*)
Importation
18%
(*) The calculation base for some goods may be reduced to zero. In the case of iron ore exports, for
instance, this reduction may even be approximately 53%.
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35
36
37
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31st
12.5% (Twelve Point Five Percent), from the 1st of January, 2009 to
of December, 2013.
Companies that, on the 31st of December, 1993, were enjoying the 50%
(Fifty Percent) decrease for continuing to operate projects in the areas with
incentives under the terms of the law prevailing at the time will continue to enjoy the
incentive until the 31st of December, 2001, when the new reduced percentages will
apply. It is worth mentioning that the income tax which was not paid because of tax
incentives will constitute a capital reserve to be used in the actual project itself and
cannot be distributed to shareholders. All current tax incentives for the Northeast
and Amazon regions will be extinguished after the 1st of January, 2014.
1.3 STATE MINING INCENTIVES
Most Brazilian States grant ICMS (Refer to Section II, Item 1.3) tax
incentives to companies which may eventually start up in their territories, by
reducing the calculation base of the tax or defer its collection.
Another incentive used by some states is to convert the tax to be
collected by the company into financing at preferential rates. Such reductions vary
from state to state and are being renewed, altered or eliminated from year to year,
according to the interest of the state public sector and within its scope of jurisdiction.
Copyright MMXV. ACCEX Holding Corporation. All Rights Reserved.
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In short, the Brazilian financial market still has a limited capacity for
provideing resources at compatible terms and costs with production and investment
requirements, and it is up to the companies resorting to foreign capital, the National
Bank for Economic and Social Development (BNDES) which is the main
institution that offers long term financing in Brazil or to a few state or regional
development banks.
2. BNDES SYSTEM
The BNDES System, controlled by the Federal Government, consists
of the National Bank for Economic and Social Development (BNDES), Special
Industrial Financing Agency (FINAME) and BNDES Holdings S/A (BNDESPAR).
In addition to those subsidiaries, BNDES uses a network of financial
institutions (commercial, investment, state and regional development banks, among
others) known as BNDES System Financing Agents (private and state commercial
banks, investment banks, state and regional development banks).
One of the BNDES Systems major objectives is to support the
industrial development in Brazil and it therefore offers several lines of financing and
shareholdings. For developing the mining sector, in particular, the BNDES System
has been playing a major role as provider of financing resources for most of the
varying sizes of mining projects, whatever their size, installed or in the process of
installation in Brazil.
The credit system lines are available to Brazilian or foreign owned
mining companies, independent of the origin and control of their capital.
2.1 FINANCIAL SUPPORT OBJECTIVES
It is the policy of the BNDES System to support industrial projects
which create jobs and income, are cost, productivity and quality competitive, by
financing investments whose objectives, among others, are: industrial installation,
expansion, relocation and modernization; technological training; quality and
productivity upgrade; energy and environmental conservation; business downsizing
and streamlining; and costs with economic and social infrastructure in the private
project sphere.
2.2 SUPPORTABLE ITEMS
In fundable investments for the mining project, the following items,
among others, can be the purpose of the operation, such as:
Copyright MMXV. ACCEX Holding Corporation. All Rights Reserved.
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foreign institutions commercial and investment banks there are already major
reductions in the spread in the cost of foreign financing and greater availability of
resources.
3.4 OTHER FINANCING MECHANISMS
Some other financing mechanisms for Brazilian mining/venture
companies are detached as follows:
Credits from foreign suppliers, normally guaranteed by banks in their
respective countries;
American Deposit Receipts (ADRs);
Pre-sale production operations, such as, for instance, the issuances of
future gold sale contracts by mining/venture companies home and on the foreign
markets;
Issuance of commercial papers overseas, with the collaterization of
Brazilian and/or foreign financial institutions;
Discounting of Export Receivables (ACCs) and Export Invoices,
normally widely used by export companies and with terms of up to 180 (One
Hundred and Eight) days supported by commercial banks;
Participation of different institutional kinds of funds, such as pension
funds of public organizations and private corporations, long term capital loans,
mutual investment funds, free portfolio investment funds, foreign investor funds,
equity and insurance funds.
Although their implementation is still underway by the private sector,
the Sectoral Stock Investment Funds of The Mining Sector, regulated by the
Securities and Exchange Commission (CVM), under the CVM Instruction n. 171,
dated 23rd of January, 1992, is another important source of funding for mining
projects in Brazil.
These funds, which have similar characteristics to those existing on the
Canadian market, may acquire, by private subscription, stock from any mining
companies incorporated as private companies, which provide evidence of ownership
of an area to be surveyed and exploited.
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46
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48
tin, ilmenite, zirconite, rutile, monazite and other heavy minerals. The wide diversity
of lands and geological environments in Brazil are the main characteristics that
provide Brazil the status of possessing one of the largest mineral potentials in the
world, comparable to the United States, Russia, Canada, Australia, China and
South Africa.
Brazilian mineral production, which currently includes more than 100
(One Hundred Substances), is a natural consequence of such characteristic. Despite
such a significant variety of minerals, the value of the production is still very much
concentrated principally on iron, gold and bauxite which, given the existing great
potential, shows that there is plenty of room for the Brazilian mining sector to grow
faster and faster.
SECTION VII MINING INDUSTRY IN BRAZIL
1. PROFILE OF BRAZILIAN MINING PRODUCTION
1.1 BRAZILIAN RESERVES
Brazil has a privileged position in the ranking of worldwide reserves,
notably in relation to pyrochlorine (niobium ore), tantalite, niobium, kaolin, graphite,
fluorite, vermiculite, talc, magnesite, cassiterite, bauxite, iron, magnesite, manganese
cassiterite and nickel.
The oil and natural gas reserves total 7.3 Billion barrels and 226
Billion m (1.4 Billion of oil equivalent barrels OEB), respectively. Due to the
opening up of the state monopoly to permit private enterprise to undertake the
exploration, development and production of oil and gas, a significant increase in
reserves and production is expected, which will make the country self-sufficient.
The total uranium reserves, under state monopoly, are estimated at
over 300,000 t (Three Hundred Thousand tons) of U3O8.
1.2 MINERAL PRODUCTION
Brazil has a considerably diversified mineral production and stands
out, in the world context, as the largest exporter of iron ore and niobium alloys. It is
also one of the major producers of petroleum, niobium, tantalum, iron, kaolin,
tantalite, bauxite, graphite, cassiterite, magnesite, ornamental rocks, phosphate rock,
silver, gold, etc.
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50
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52
The access to the Figueira Branca Farm is done by dirt road that
works well so terrestrial logistics is very good for machinery, equipment, products,
and personnel transportation and the final gold in bullions can transported in small
aircrafts up the main centers of the country and abroad.
The gold deposit is quite near the farm, located about 50 km from
Terra Nova do Norte downtown. The gold mineralization has been formed in veins
of Proterozoic granites.
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54
The mining area has many clean water sources and the region is
served with three-phase electric light power plant;
The Operation License (LO) has already been issued by the Mato
Grosso State Secretary of Environment (SEMA-MT) for all processes.
It currently has 37 (Thirty-Seven) Mineral Rights Mining
Permissions (Permisses de Lavra Garimpeira PLG) throughout the gold
mining project area duly granted by the DNPM and its Final Report Positive
Research has been filed at the DNPM in April, 2011, demonstrating proven and
probable reserves at the range of 48.800 t/Au (Forty-Eight Tonnes and Eight
Hundred Kilograms of Gold) have been identified through the geological survey
performed by Ambiogeo Consulting Ltd. and the geological analysis by fire assay
performed by SGS Geosol Laboratories Ltd. has shown results ranging from 6-10
ppm (Six to Ten Parts per Million).
Nevertheless, the gold mining precarious methods applied at the
project site area demonstrate considerable waste of gold found in the quartz
seams/veins which often happens because the lack of modern machinery and skilled
labor force for maximizing the current profitability based on this outstanding
mineralogical potential verified through drilling surveys duly registered at the
DNPM, around 15 kg (Fifteen Kilograms) per month have been produced in the
Figueira Branca Gold Mine.
1.2 INTEGRATED SECURITY SYSTEM (ISS)
An Integrated Security System through electronic surveillance must
be installed on strategic site dependencies (Electronic Surveillance Monitored by
Tracer High Definition Cameras) in order to enable monitoring and tracking at
distance and in real time from all movement and operational flowchart of the key
points in all mining areas with those special cameras.
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*NET P.L.
(R$)
131,380.86
131,380.86
131,380.86
131,380.86
131,380.86
131,380.86
131,380.86
919,666.02
TOTAL
(R$)
195,000.00
195,000.00
195,000.00
195,000.00
195,000.00
195,000.00
195,000.00
1,365,000.00
TOTAL
N.
NET
SALARY
(R$)
IRPF
FGTS
02
169.162,00 52.000,00
20.800,00
01
37.780,86 13.000,00
5.200,00
04
29.952,00
Exempt
3.328,00
04
86.027,76 31.200,00
12.480,00
04
78.991,12 26.000,00
10.400,00
08
93.600,00
Exempt
10.400,00
04
260.000,00 80.860,00
32.340,00
04
300.883,34 93.600,00
37.440.00
04
86.027,76 31.200,00
12.480,00
04
86.027,76 31.200,00
12.480,00
07
133.426,02 54.600,00
21.840,00
01
56.500,86 18.200,00
7.280,00
200 3.250.000,00
Exempt
260.000,00
01
56.500,86 18.200,00
7.280,00
01
56.500,86 18.200,00
7.280,00
02
34.516,82 10.400,00
4.160,00
04
86.027,76 31.200,00
12.480,00
02
43.013,88 15.600,00
6.240,00
02
34.516,82 10.400,00
4.160,00
04
86.027,76 31.200,00
12.480,00
02
69.009,80 24.180,00
9.672,00
01
84.580,86 26.000,00
10.400,00
01
75.220,86 23.400,00
9.360,00
01
75.220,86 23.400,00
9.360,00
04
52.417,00
Exempt
5.824,00
12
207.100,00 62.400,00
24.960,00
279 5.465.474,00 726.440,00 570.128,00
INSS
18.038,28
9.019,14
8.320,00
26.292,24
14.608,88
26.000,00
31.200,00
36.076,66
26.292,24
26.292,24
63.133,98
9.019,14
357.500,00
9.019,14
9.019,14
2.923,18
26.292,24
13.146,12
2.923,18
26.292,24
18.038,20
9.019,14
9.019,14
9.019,14
14.560,00
17.539,00
928.018,00
(R$)
260.000,00
65.000,00
41.600,00
156.000,00
130.000,00
130.000,00
404.400,00
467.960,00
156.000,00
156.000,00
273.000,00
91.000,00
3.867.500,00
91.000,00
91.000,00
52.000,00
156.000,00
78.000,00
52.000,00
156.000,00
120.900,00
130.000,00
117.000,00
117.000,00
72.800,00
312.000,00
7.744.160,00
57
N.
06
01
01
04
02
02
02
04
02
01
-
UNIT (R$)
65.000.000,00
11.500.000,00
6.500.000,00
2.500.000,00
800.000,00
600.000,00
400.000,00
320.000,00
130.000,00
500.000,00
180.000,00
250.000,00
-
TOTAL (R$)
65.000.000,00
11.500.000,00
6.500.000,00
2.500.000,00
2.400.000,00
1.200.000,00
800.000,00
640.000,00
520.000,00
500.000,00
360.000,00
250.000,00
92.170.000,00
TOTAL (R$)
2.000.000,00
250.000.00
2.250.000,00
TOTAL (R$)
1,365,000.00
7,744,160.00
5,500,000.00
900,000.00
640,000.00
16.149.160.00
VOL. AU (T)
1.520
4.240
4.680
4.960
5.200
5.400
5.400
5.600
5.800
6.000
48.800
58
VOL. AU (T)
5.760
2. FINAL STATEMENTS
The complete survey data shown in the Final Positive Research
Report concernes to a total of 2,037.00 ha (Two Thousand and Thirty-Seven
Hectares) comprehending almost the entire project site. The calculation of the
reserves resulted in 48.817 t/Au (Forty-Eight Tonnes and Eight Hundred and
Seventeen Kilograms of Gold) with excellent content per cubic meter of material
analyzed and excellent purity content of 97% (Ninety-Seven). In addition, the
Operating Licenses (LO) have already been issued by the DNPM for all the 37
(Thirty-Seven) PLG and need to have a Gold Exploitation, Processing and Casting
Plant installed there in order to start large-scale production of thousands of bullions.
The Figueira Branca Gold Mining Project is undoubtedly one of the
greatest gold projects in Brazil. It is currently procuding around 500 kg/Au (Five
Hundred Kilograms of Gold) per year and can produce up to around 6,000 (Six
Thousand Kilograms of Gold) per year, therefore reaching US$ 2,400,000,000.00
(Two Billion and Five Hundred Million United States Dollars) during the first 10
(Ten) years of large-scale gold production, casting and trade upon the estimate
investment described in this Business Plan.
Brazil, January 30th, 2015.
DIONE EVANGELISTA
Chief Financial Officer (CFO)
cfo@accexholding.com
TIAGO GONDIM
Chief Executive Officer (CEO)
ceo@accexholding.com
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4. REFERENCES
VILA, C. A. Geologia, petrografia e geoqumica das rochas pr-cambrianas (Unidade
Metadiortica Ibitutinga e Unidade Metatrondhjemtica Caburu) intrusivas nas rochas do
Greenstone Belt Barbacena, So Joo Del Rei, Minas Gerais. 1992. 265 f. Dissertao
(Mestrado) - Departamento de Geologia, Universidade Federal do Rio de Janeiro, Rio de
Janeiro, Rio de Janeiro, 1992.
BACEN (1997) Investimentos Estrangeiros no Brasil principais modalidades, anexo II,
Boletim do Banco Central do Brasil, maio.
BALASSA, B.(1982) Development Strategies in Semi-industrial Economics, N.Y. and
London: Oxford University Press.
BANCO MUNDIAL (1987) World Development Report, Washington D. C., Oxford
University Press.
BROWN, G. C.; THORPE, R. S.; WEBB, P. C. The geochemical characteristics of granitoids
in contrasting arcs and comments on magma sources. Journal of Geological Society of
London, London, v. 141, p. 411-426, 1984.
DNPM/MME Departamento Nacional de Produo Mineral/ Ministrio de Minas e
Energia, Fernando da Silva Rodrigues. Sumrio Mineral (2006) Braslia: DNPM/DIDEM.
MANIAR, P. D.; PICOLLI, P. M. Tectonic discrimination of granitoids. Geological Society of
American Bulletin, Boulder, v. 101, p. 635-643, 1989.
NOCE, C. M.; TEIXEIRA, W.; QUMNEUR, J. J. G.; MARTINS, V. T. S.; BOLZACHINI, E.
Isotopic signatures of paleoproterozoic granitoids from the southern So Francisco
Craton and implications for the evolution of the transamazonian orogeny. Journal of
South American Earth Sciences, Oxford, v. 13, p. 225-239, 2000.
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