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Quartzite Crusher plant

May 11, 2011 10:00 PM ET
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Terra Firma Resources Inc. announce that it has deployed its Indonesian field team to commence the initial exploration program at its Gold and Copper Property in South Sulawesi, Indonesia.Gold Processing Plant

The initial field exploration program will be completed in two phases. The first phase will consist of geological mapping including structural, lithology and alteration mapping. The second phase of the program will consist of digging and sampling of trenches and test pits.

The locations of these will be based on information gathered during the first phase of the program. All samples collected from the property will be submitted to Intertek’s Jakarta lab for geochemical analysis. The exploration program is expected to last approximately 5 weeks and will be led by Senior Geologist Andri Subandrio, with oversight being provided by Geologist Johannes Erasmus, Associate Senior Geologist of Micromine Consulting Services.

Geologist Johannes Erasmus is a Qualified Person as defined by National Instrument 43-101. Johannes Erasmus will be the Qualified Person for this and future work programs on the South Sulawesi Property. Mr. Erasmus has a B.Sc (Geology) from the University of South Africa and an MSc (Mineral Economics) from the School of Mining Engineering at the University of Witwatersrand. Mr. Erasmus has more than 30 years experience in both mining and exploration and has been responsible for the management of numerous exploration programs around the world. Quartzite Crusher plant

In October, 2008, World Wide appointed the initial arbitrator in a panel of three. The Republic of Kazakhstan (ROK) and its nuclear agency, Kazatomprom, then jointly appointed a second arbitrator. The two arbitrators were to appoint a third arbitrator before the end of 2008. In the meantime World Wide and its legal counsel were assembling evidence for the commencement of the substantive arbitration itself.

In September, 2009 the initial arbitration was put on hold when World Wide and the ROK chose to simplify the process by appointing a mutually agreed, sole arbitrator to determine certain preliminary and substantive issues in connection with the November, 1996 Loan Agreement. This was done. Written submissions were made by both parties, an oral hearing was held in London (UK) in December, 2009 (to deal with certain preliminary issues) and a second oral hearing was held in Brussels (Belgium) in July, 2010 (to deal with the remaining issues). At the July hearing the arbitrator reserved his decision.

The arbitrator’s written decision on the issues debated at the July 2010 hearing was delivered to the parties at the end of the year, in a Final Award dated December 22, 2010. In the Final Award, the arbitrator (1) confirmed that he had jurisdiction over all of the claims related to the Loan Agreement, including claims for breach of the Foreign Investment Law and for breach of customary international law, but (2) decided that all of the claims were time-barred under the general three-year limitations period under Kazakh law. On this basis, the arbitrator dismissed all of World Wide’s claims.iron ore beneficiation plant

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