HEADS OF AGREEMENT ENTERED INTO BETWEEN NICE AND SPATE PRECIOUS METALS SDN. BHD. FOR THE TURNKEY CONSTRUCTION WORKS AND PURCHASE OF REFINED GOLD

We refer to your Company’s announcement dated 19 November 2020, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. Background information and working experience of Mr. Fong Kok Chin and Mr. Wong Kai Fatt, being the directors of SPM.
2. Information of Jayamas Mining Sdn Bhd (“Jayamas”), including but not limited to, the date of  incorporation and commencement date of business, principal activities, name of directors and substantial shareholders together with their shareholdings.
3. Salient terms and conditions of Exclusive Mining Agreement between Jayamas and SPM.
4. Salient features of contractual arrangement “Perjanjian Usahasama Penyerahan Hak Mencarigali Dan Melombong Mineral” dated 7 July 2019 between Yayasan Kraftangan Kelantan and Jayamas, including the term of the mining lease.
5. Background information of Yayasan Kraftangan Kelantan and its beneficial rights over Mining Area.
6. Information of gold and other minerals in the Mining Area such as the total reserves, extraction rate/returns or any other information that can provide an indication on the existence of gold and other minerals.
7. Name of relevant authorities and the type of approval required to undertake the Turnkey Construction Works.    
8. Total estimated cost to be incurred by NICE and total duration required to satisfy the Conditions Precedent as spelt out in Section 3.2.
9. To substantiate whether NICE possess the required expertise and capability to undertake the Turnkey Construction Works.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,
 

Listing

Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)