Bulgaria, 4500 Panagyurishte Phone.: +359 357 60210 Fax: +359 357 60250, 60260, 64085, 64185 e-mail: pbox@asarel.com http://www.asarel.com Delegation: 1504 Sofia, Varbitca str. 5 Phone: +359 2 9433242; 9461044 Fax: +359 2 9433895 e-mail: asarel@mbox.contact.bg office@asarel.com Tender for sale of Copper concentrate in 2010 Assarel Medet JSC organize annual tender for sale of Copper concentrate in 2010 on the following terms: 1. Material: Assarel copper concentrates 2. Quality: Known, as per enclosed Producer’s certificate for typical assay 3. Quantity: 20,000 (+/- 10 %) dmt 4. Shipment: In equal lots of 5’000 dmt per quarter 5. Delivery: FCA Panagyurishte or FCA Pirdop in Seller’s option. (as per Incoterms 2000) 6. Price: The price of the material shall be calculated as the sum of the payable metals – copper, gold and silver less the sum of deductions as they are specified below: PAYMENTS: Copper: The agreed analytical copper content less a deduction of 1.0 unit shall be paid for the balance at the official LME copper grade ‘A’ settlement quotation in US$ as per MB averaged over the quotation period. Gold: The agreed analytical gold content less a deduction of 1.0 gram / dmt shall be paid for the balance at the official London am/ pm gold quotation in US$ as per MB averaged over the quotation period. Silver: The agreed analytical silver content less a deduction of 30.0 grams / dmt shall be paid for the balance at the official London spot quotation for silver in US$ as per MB averaged over the quotation period. DEDUCTIONS: Treatment and refining charges: Subject to your best proposal 7. Quotational period: Subject to your best proposal 8. Payments: - 100 % provisional payment shall be made until three days before the start of loading - Balance payment once all elements are known 9. Other terms: Please send your offer in sealed envelope, addressed to Mr. L. Tsotsorkov – Executive Director, Assarel Medet JSC, 4500 Panagyurishte until 4:00 p.m. BGT on 28.08.2009. Please write the following on the envelope: “Offer for purchase of Copper concentrates in 2010. To be opened only in the presence of the tender committee”. 10. Validity of the offer: Please validity of your offer to be until 28.09.2009 ASSAY CERTIFICATE COPPER FLOTATION CONCENTRATES Cu 22 -26 % CaO 0.3 – 0.4 % Au 2 -6 g/ t Zn < 0.03 % Ag 15 -40 g/ t Ni < 0.008 % S 34 -38 % As < 0.02 % Pb < 0.06 % Mо 140 -154 g/t Co 60 -70 g/ t Cd < 0.01 % Sb < 0.01 % Hg < 0.3 g/t Fe 28 -32 % MgO 0.2 – 0.3 % Te < 50 g/t Na2O 0.3 – 0.4 % Al2O3 2.5 -3 % SIO2 4–8 % H2O 8 - 12 %