American Alliance Financial & Funding
Group
Corporate Summary
Legal
THIS CORPORATE SUMMARY DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY FROM ANY PERSON IN ANY STATE OR OTHER JURISDICTION IN WHICH SUCH
OFFER OR SOLICITATION WOULD BE UNLAWFUL, OR IN WHICH THE PERSON MAKING SUCH
OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO, OR TO A PERSON TO WHOM IT IS
UNLAWFUL TO MAKE SUCH AN OFFER OR SOLICITATION. THERE IS NO PUBLIC MARKET FOR THE
SECURITIES, AND NONE IS EXPECTED TO DEVELOP IN THE FUTURE. THEREFORE, INVESTORS
SHOULD BE AWARE THAT THEY MIGHT BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS
INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. This Executive
Summary contains “forward-looking statements” within the meaning of the federal securities laws.
Forward-looking statements are those that predict or describe future events or trends and that do
not relate solely to historical matters. For example, forward-looking statements may predict future
economic performance, describe plans and objectives of management for future operations and
make projections of revenue and other financial items. Prospective investors should not rely on
such forward-looking statements because the matters they describe are subject to known (and
unknown) risks, uncertainties and other unpredictable factors, many of which are beyond our
control.
2
AAFFG Company Profile
A financial services institution with its vast assets
under management, unique approach, dynamic
relationships, and core expertise. Leading global
conduit focused on the following sectors:
• Banking
• Energy
• Mining and Minerals
• Government
• Technology
3
AAFFG Mission
AAFFG is dedicated to creating value for
its stakeholders and operating under the
premise to:
Reinvest a significant portion of its
net proceeds into the betterment of
communities of the world it engages.
4
Corporate Structure
American Alliance Financial & Funding Group
Corporation (Nevada “C” Corp)
Parent (Holding Company)
American Alliance Financial & Funding Group LLC
(AAFFG LLC)
(Arizona LLC and Nevada Foreign LLC Registration)
Wholly Owned Subsidiary and Management Company
Shintoc Investments Ltd.
(Hong Kong Registered)
Wholly Owned Subsidiary
AAFFG LLC
Joint Ventures
(Hong Kong Registered)
AAFFG / LHI Ltd JV
(Hypothecation of
bond instrument)
Aces Oil and Gas LLC
(Florida Registered)
Nevada White River Valley
Wholly Owned Subsidiary
Composite Metals
Corporation JV
(Metals & Gold
Tailings)
AAFFG LLC
Joint Ventures
(Nevada Registered)
Executable
Option:
Utah Oil Leases JV
Executable
Option:
Belieze Resort
Development JV
AAFFG LLC
Foundations/
Humanitarian Initiatives
AAFFG LLC
Limited Partnerships
(Nevada Registered)
Managing General Partner
Limited Partnerships
CARD International (silica mining)
TOTE (defense technologies)
Bosanda International (oil remediation
technologies)
Appelman (gold mining)
Accelerated Communications (WIFI
telecom)
Shintoc / Sinjiang
New Evertrust
International Trading
JV
(CNPC Operating Co.)
China Petroleum
Import License
Joint Venture
Shintoc/Shanghai Oil
Enterprise Group
Petroleum Chemical
Industry Company
Limited JV
(CNPC Operating Co.)
China Petroleum
Import License
Joint Venture
Shintoc / Yige Intn’l
Investment Group
Co. Ltd JV
Oil Refinery,
Storage, Production
Complex Jiangsu
Province, PRC
80% owned by
Shintoc
Shintoc / Sky Glory
Co. JV
Silica Mine &
Refinery
Hubei Province,
PRC
51% owned by
Shintoc
Shintoc/SAJ Ltd
JV
Silica and Oil Sales
from FDS Plant
51% owned by
Shintoc
Boardwalk Property Group Corp
(precious metals)
Business Solutions (finance)
ARCO Hills (silica mining)
ECCO Drilling (oil and gas drilling)
Wealth Management Group (finance)
WMG Software Management (software
energy/commodities exchange
development for US Gen. Serv. Admin.
(GSA)
Golden Light Studios (film production)
Need a Parts (wholesale auto parts
distribution)
Oil Import and Purchase
Contracts with Saudi Aramco,
NOC Libya, PDVSA Venezuela
A & J Holdings I (FDS Coke) (power
plant)
ASG (FDS Coke) (power plant)
Premier (wood products)
5
AAFFG Key Management
Steven V. Cross – Chairman & Chief Executive Officer
Robert Tunnison – Executive Administrative Assistant
Phillip Long – Chief Financial Officer
CD Rowsell – Senior Executive Vice President, Investments
Gary Wiess – Senior Vice President, Commodities
Alexander Chang – Executive Vice President, Legal Counsel – Asia
Thomas L. Woodall – Senior Vice President, Chief Legal – Americas
William C. Brannan – Senior Vice President, Economics & International Planning
Richard Scales – Senior Vice President, Financial Management
Jim Lewis – Chief Geologist
Paul Pomp – Chief Silica Engineer
Gordon Pomp – Silica Production Manager
Steven Hopkins – Project Lifeguard Supervisor (EDCU – Utah Governors Office)
Stacy Hopkins – Chief EDCU Coordinator
6
Limited Partnerships and Joint Ventures
LP/JV Name
Type
% Owned
% Revenue
Description
Card LP
Silica
51%
35%
18 billion tons
Card LP
Gold
51%
35%
7 million ounces
Arco Hills LP
Silica
51%
40%
20 billion tons
$2,400,000,000,000
Crow Claims
Silica
51%
40%
18 billion tons
$2,160,000,000,000
Appleman LP
Gold, Silver, Platinum,
Palladium, Iridium
51%
40%
50 million tons mineral
deposits
Aces Oil
Oil
100%
58%
140 million ~ 1.94 billion
barrels
Ecco Drilling LP
Oil Driller
70%
80%
Bosonda LP
Water/LPG
51%
80%
Wealth Management LP
Finance
51%
80%
Business Solutions LP
Finance
51%
80%
Tote International LP
Technology
51%
30%
WMG Software LP
Commodities
Exchange
75%
74%
Shintoc -Yige JV
Oil Refinery
80%
50%
Boardwalk Property LP
Emeralds/ Property
51%
30%
175,000 oz.
Composite Power JV
Gold/Metal Tailings
51%
40%
40 million tons
Silica China Hubei JV
Silica
51%
50%
Need A Parts
Automotive
51%
10-25%
51%
40%
Golden Light Studios
Entertainment
A&J Holdings
Power Plant
51%
40%
Premier
Wood Products
85%
85%
ASG
Power Plant
51%
40%
Shintoc-SAJ JV
Commodities
51%
40%
Accelerated
Communications
Technology
51%
40%
7
700 million tons
Valuation
$2,160,000,000,000
$3,500,000,000
$851,000,000,000
$7,000,000,000
AAFFG Corp - Financial Projections
2008
TOTAL GROSS REVENUES
TOTAL EXPENSES
TOTAL GROSS PROFIT
AAFFG SHARE OF LP/JV PROFITS
LESS: AAFFG REQUIRED CAPITAL
AAFFG SHARE of GROSS
PROFIT (- LOSS)
AAFFG EBITDA
2010
2011
$
206,065,650
$
2,693,164,583
$ 6,490,779,879
$
121,120,020
$
1,762,201,017
$ 4,085,896,126
$
84,945,630
$
930,963,566
$ 2,404,883,753
$
50,845,105
$
481,634,027
$ 1,116,891,701
$
111,149,875
$
126,000,000
$
$
LESS: AAFFG CORPORATE
EXPENSES
2009
(60,304,770)
$
17,510,058
$
(77,814,828)
$
355,634,027
$
33,845,973
$
321,788,053
$
$
43,048,400
$ 1,058,843,301
5 YEAR TOTAL
12,526,893,516
$
17,052,054,796
$
38,968,958,424
$
6,460,027,880
$
8,934,345,248
$
21,363,590,291
$
6,066,865,636
$
8,117,709,548
$
17,605,368,133
$
15,000,000
$ 1,101,891,701
2012
2,641,119,054
$
$
2,641,119,054
$
56,518,858
$
$
2,584,600,197
3,496,299,819
$
7,786,789,706
-
$
252,149,875
$
$
3,496,299,819
$
80,431,004
$
3,415,868,815
$
7,534,639,831
$
$
247,370,183
7,287,269,648
Less: Depreciation and
Amortization
$
-
$
-
$
-
$
-
$
-
$
-
Less: Income Tax Expense
$
-
$
-
$
-
$
-
$
-
$
-
NET PROFIT - (LOSS)
CUMULATIVE NET PROFIT (LOSS)
$
(77,814,828)
$
321,788,053
$ 1,058,843,301
$
2,584,600,197
$
3,415,868,815
$
7,287,269,648
$
(93,830,718)
$
227,957,335
$ 1,286,800,637
$
3,871,400,833
$
7,287,269,648
$
7,287,269,648
All figures in $USD
• 5 Year NPV = $5.25 billion (Taxes and Depreciation not included in all calculations)
• Based on Investment Capital of $252 million over 27 month period
• Investment Recovery (Cumulative Break-even) Q2 2009
• Cash Flow Positive Q1 2009 (Peak Cumulative Loss ~ $94 million)
8
Balance Sheet
ASSETS
LIABILITIES
Cash
$50,000
Accounts payable
$2,444,577
Accounts receivable
$0
Short-term notes
$0
Short Term Investments
$0
Taxes payable
$0
Prepaid expenses
$0
Accrued payroll
$ 4,477,083
$50,000
Total Current Liabilities
$ 6,921,660
1,969,730
Long Term Notes Payable
$ 7,578,000
Total Long Term Liabilities
$7,578,000
Total Current Assets
Investments – LP (Non
Minerals and Mining)
Investments - LP Mining and
Minerals
(Valuation * Rev Share)
Total Long Term Assets
$
$3,214,355,000,000
$3,214,357,019,730
STOCKHOLDERS EQUITY
Paid in Capital
Retained earnings
TOTAL ASSETS
$3,214,357,019,730
9
$0
$3,214,342,520,070
Total Shareholders' Equity
$3,214,342,520,070
TOTAL LIABILITIES &
EQUITY
$3,214,357,019,730
Oil Contracts
Partner
Contract
Term
Potential
Annual Quantity
Buy Mazut
100/CT180
CNPC1
10 Years
18 million MT
$45,000,000
Buy D2 (Diesel)
CNPC
5 Years
12 million MT
$18,000,000
Buy Crude Oil
CNPC
10 Years
480 million barrels
$480,000,000
Sell Crude Oil
PDVSA2
10 Years
480 million barrels
$480,000,000
Buy Crude Oil
CNPC
5 Years
35 million barrels
Deal
Notes:
1
CNPC – China National Petroleum Corporation
2
PDVSA - Petroleos de Venezuela, S.A.
10
Potential Annual Profit
$36,000,000
Oil Contracts Financial Projections
2008
2009
2010
Total Oil Contract Revenue
$54,770,000
$ 372,600,000
$ 487,600,000
$
597,600,000
$
777,600,000
Total Operating Expenses
$ 2,738,500
$ 18,630,000
$ 24,380,000
$
29,880,000
$
38,880,000
$52,031,500
$ 353,970,000
$ 463,220,000
$
$52,031,500
$ 406,001,500
$ 869,221,500
$ 1,436,941,500
$ 2,175,661,500
$ 2,175,661,500
$36,010,700
$ 239,799,000
$ 315,799,000
$
383,724,000
$
$ 1,473,056,700
$36,010,700
$ 275,809,700
$ 591,608,700
$
975,332,700
$ 1,473,056,700
$ 1,473,056,700
Total Investment
$
-
$
-
$
-
$
-
$
-
$
-
Cumulative Investment
$
-
$
-
$
-
$
-
$
-
$
-
Total Profit
Cumulative Total Profit
AAFFG Profit
AAFFG Cumulative Profit
AAFFG Cash Flows
AAFFG Cumulative Cash Flows
2011
2012
567,720,000
$
5 Year Total
738,720,000
497,724,000
$36,010,700
$ 239,799,000
$ 315,799,000
$
383,724,000
$
497,724,000
$36,010,700
$ 275,809,700
$ 591,608,700
$
975,332,700
$ 1,473,056,700
$ 2,290,170,000
$
$ 2,175,661,500
$ 1,473,056,700
$ 1,473,056,700
• 5 Year Net Present Value = 1.1 billion (8% discount rate)
• No Initial Capital Investment Required
11
114,508,500
Summary of Silica Leases
• The 3 distinct mineral leases on 40,000+ acres contain an estimated
50 billion tons of quartz silica rock of very high purity, as well as an
abundance of quartz crystals of gemstone and fiber optic quality.
• The British Columbia sites are located near rail facilities connected to
port facilities at Vancouver, BC or Prince Rupert, BC. The Idaho site is
also close proximity to rail facilities.
• Geologic sampling has revealed exceedingly pure samples of silica
comprised of 97.7% to 99.3% silica, with iron oxide contents ranging
from 0.02% to 0.05%. Majority of prospect is covered with only 2-4
inches of overburden consisting of moss and light soils.
• Underlying the main silica deposit, there is an inferred gold deposit
varying from 600-800 feet in depth from the surface.
• AAFFG is General Partner owning 51% of the limited partnership and
40% of net revenues.
12
Location of British Columbia
and Idaho Silica Sites
13
Silica Diverse Uses
•
Glass (a colorless, high-purity form is called fused silica)
•
Silica gel (used as desiccants in new clothes, leather goods,
electronics)
•
Raw material for ceramics such as earthenware, stoneware and
porcelain.
•
Raw material for the production of Portland cement.
•
Food additive in powdered foods or to absorb water
•
Electronic insulator as the natural oxide coating grows on
silicon is a electric insulator, possessing high chemical stability.
•
Raw material for aerogel for spacecraft, defense.
•
Extraction of DNA due to its ability to bind to the nucleic acids.
•
Added to medicinal anti-foaming agent
•
As hydrated silica in toothpaste (abrasive to fight away plaque.)
•
As fumed silica as pharmaceutical excipients. Improving flow
properties of materials required for modern tablet and capsule
14
Pure Silica Hi-Tech Uses
• Solar Panels created from Silicon Wafers
• Optical Components - lenses, prisms, reflectors, mirrors, filters,
optical flats.
• Analytical Instruments - UV spectrophotometer cells, fire control
devices, reticle substrates,interferometer plates
• Semiconductor Electronic - Microcircuit substrates, microwave
devices, photomasks, sputter plates, excimer lasers
• Lasers - beam splitters, brewster windows, medical/industrial
systems, Q-switches, UV excimers
• Energy - Laser fusion research, isotope separation, solar cell
covers.
• Spacecraft/Aircraft - Docking light covers, windows, re-entry heat
shields, ring laser gyros.
• Fiber optics
15
Potential Silica Buyers/Partners
• Chemical Manufactures (DuPont,
Dow, BASF, Pharmaceuticals)
• Petro-chemical Processors
• Solar Industry
• Electronics Industry
• Glass Industry
• Construction Industry
16
Initial Silica - Production and Pricing
• 10,000 metric tons per month mined in Year 1
from each of the 3 North American mines.
Overview of pricing of silica production:
• Raw decorative silica stone = $120 per ton.
• OR crush and grind silica stone into granular silica =
$6,000 a ton.
• OR grind granular into powder = $7,500 a ton.
• OR by heat in a refinery furnace into a gel = $6,500 an
ounce ($208,000,000 a ton)
17
Risk Factors – Silica Production
• No customers to purchase the commodities,
inadequate demand.
• Change in Technology
• Environmental, Local Permits
• Production Health Risks – Silicosis
• Delays due to weather, equipment failure,
staffing
18
Risk Mitigations – Silica Production
• Company actively pursuing silica buyers from
diverse industries
• Company plan to ramp up production and
refineries as demand and technology evolves
• Company working closely with local and
national governments to secure permits and
partnerships
• Company outsourcing production to
experienced mining producers to reduce
injury, equipment misuse, and staff training
19
Silica Financial Projections
2008
2009
2010
2011
2012
5 Year
Total Silica Revenue
$
53,100,000
$ 699,840,000
$ 1,465,920,000
$ 2,669,760,000
$ 5,508,000,000
$10,396,620,000
Total Operating Expenses
$
39,825,000
$ 454,896,000
$
879,552,000
$ 1,468,368,000
$ 2,754,000,000
$ 5,596,641,000
Total Profit
$
$ 244,944,000
$
586,368,000
$ 1,201,392,000
$ 2,754,000,000
$ 4,799,979,000
Cumulative Total Profit
$
$ 258,219,000
$
844,587,000
$ 2,045,979,000
$ 4,799,979,000
$ 4,799,979,000
AAFFG Profit
$
$ 93,895,200
$
224,774,400
$
460,533,600
$ 1,055,700,000
$ 1,839,991,950
AAFFG Cumulative Profit
$
5,088,750
$ 98,983,950
$
323,758,350
$
784,291,950
$ 1,839,991,950
$ 1,839,991,950
AAFFG Total Investment
$
27,000,000
$ 42,000,000
$
$
$
69,000,000
AAFFG Cumulative
Investment
$
27,000,000
$ 69,000,000
$
69,000,000
$
69,000,000
$
69,000,000
$
69,000,000
AAFFG Net Cash Flows
$
(21,911,250)
$ 51,895,200
$
224,774,400
$
460,533,600
$
1,055,700,000
$
1,770,991,950
Cumulative Net Cash Flows
$
(21,911,250)
$ 29,983,950
$
254,758,350
$
715,291,950
$ 1,770,991,950
13,275,000
13,275,000
5,088,750
-
$
-
-
$ 1,770,991,950
• 5 Year Net Present Value = $1.3 billion (8% discount rate)
• Based on Investment of $69 million over 14 months
• Investment Recovery (Cumulative Break-even) in Q3 2009
• Cash Flow Positive Q2 2009 (Peak Cumulative Loss ~ $22 million)
20
Metals and Mining Overview
• AAFFG receives 40% of gross profit from Appleman
LP, Card LP, and Composite Corp JV
• Total Reserve Value > $300 billion
• Appleman LP owns mineral deposits of 50 million
tons on 1,280 acres in Colorado
−
Value of reserves in 2005 ~ $851 billion, today’s
value > $2 trillion
 54,300,000 oz. gold
 704,700,000 oz. silver
 61,100,000 oz. platinum
 86,900,000 oz. palladium
− Economic life of mine = 20 years
− 5 Year estimate gross revenue = $13.6 billion
21
Card LP Gold Overview
• Card LP includes inferred 7 million ounces of Gold
at 600-800 feet (below the Silica)
• Market value of gold reserves ~ $7 billion
• Economic life is 20 years
• 5 Year estimated gross revenue = $803 million
• Initial investment capital = $69 million (included in
silica investment)
22
Composite Corp JV Overview
Composite Corp JV purchase rights to 4.2 million tons of
mineral tailings in Nevada
• Market value of reserves ~ $72 billion
• Quantity of minerals
– 2,727,333 oz. gold (.64 oz/ton)
– 17,898,124 oz. silver (4.2 oz/ton)
– 20,454,998 oz. platinum (4.8 oz/ton)
– 2,045,500 oz. palladium (.48 oz/ton)
– 3,025,635 oz. rhodium (.71 oz/ton)
• Economic life = 12 years, $65 million initial capital
investment
• 5 Year estimate gross revenue = $6.5 billion
23
Precious Metals Projections
2008
2009
2010
2011
2012
5 Year Total
Total Metals Revenue
$
45,695,658
$ 1,200,724,583
$ 3,587,259,879
$
7,099,533,516
$
8,186,454,796
$
20,119,668,432
Total Operating
Expenses
$
36,556,520
$
952,675,017
$ 2,421,964,126
$
3,233,779,880
$
4,077,465,248
$
10,722,440,791
Total Profit
$
9,139,138
$
248,049,566
$ 1,165,295,753
$
3,787,003,636
$
4,003,989,548
$
9,213,477,641
Cumulative Total Profit
$
9,139,138
$
257,188,704
$ 1,422,484,458
$
5,209,488,093
$
9,213,477,641
$
9,213,477,641
AAFFG Profit
$
3,655,655
$
99,219,827
$
466,118,301
$
1,546,301,454
$
1,643,595,819
$
3,758,891,056
AAFFG Cumulative
Profit
$
3,655,655
$
102,875,482
$
568,993,783
$
2,115,295,237
$
3,758,891,056
$
3,758,891,056
Total Investment
$
54,000,000
$
56,000,000
$
15,000,000
$
$
125,000,000
Cumulative
Investment
$
54,000,000
$
110,000,000
$
125,000,000
$
125,000,000
$
125,000,000
$
125,000,000
AAFFG Cash Flows
$
(50,344,345)
$
43,219,827
$
451,118,301
$
1,546,301,454
$
1,643,595,819
$
3,633,891,056
AAFFG Cumulative
Cash Flows
$
(50,344,345)
$
$
443,993,783
$
1,990,295,237
$
3,633,891,056
$
3,633,891,056
(7,124,518)
-
$
-
• 5 Year Net Present Value = $2.6 billion (8% discount rate)
• Investment Recovery (Cumulative Break-even) in Q1 2010
• Based on Investment of $125 million over next 27 months
• Cash Flow Positive Q1 2009 (Peak Cumulative Loss ~ $50 million)
24
Oil Exploration Overview
• AAFFG receives 58% of revenues from wholly owned
subsidiary - Aces Oil & Gas
• Aces owns lease claims covering 37,000 acres in Nye
County, Nevada
• Reserves of 140 million barrels at shallow depths
(~5,500 feet)
• Based on $100 per barrel less 50% for contingency =
$7 billion
• Further deep reserves of 1.8 billion barrels (> 12,000
feet) or valuation of $90 billion
• Economic life is 20 years with 60% derived in Years 1-5
25
Why Nye County Nevada
• 2 of the largest producing wells in the lower 48
states currently active in Nye County
• Only 24 months expected return on investment
from initial strike to explore, develop, and
produce the prospect
• Up to 100 wells can be drilled in the area
• Huge upside with the extensive oil at deeper
structures and expected large deposits of
natural gas
• AAFFG has spent $5 million on satellite, assays,
and extensive drill sampling.
26
Oil Investment Analysis
• Approximately $56 million required to
relocate, establish 20 wells
• Additional $244 million to optimize
exploration
• Extensive interest from future buyers
including Oil companies and Government
entities.
• Demand is assured
27
Oil Exploration Financial Projections
2008
2009
2011
2012
5 Year Total
Nye County, Nevada Revenues
$ 52,500,000
$ 420,000,000
$
950,000,000
$ 2,160,000,000
$ 2,580,000,000
$ 6,162,500,000
Nye County, Nevada Expenses
$ 42,000,000
$ 336,000,000
$
760,000,000
$ 1,728,000,000
$ 2,064,000,000
$ 4,930,000,000
Nye County, Nevada Profit
$ 10,500,000
$ 84,000,000
$
190,000,000
$
432,000,000
$
516,000,000
$ 1,232,500,000
Total Profit
$ 10,500,000
$ 84,000,000
$
190,000,000
$
432,000,000
$
516,000,000
$ 1,232,500,000
Cumulative Total Profit
$ 10,500,000
$ 94,500,000
$
284,500,000
$
716,500,000
$ 1,232,500,000
$ 1,232,500,000
AAFFG Profit
$
6,090,000
$ 48,720,000
$
110,200,000
$
250,560,000
$
299,280,000
$
714,850,000
AAFFG Cumulative Profit
$
6,090,000
$ 54,810,000
$
165,010,000
$
415,570,000
$
714,850,000
$
714,850,000
Total Investment
$ 28,000,000
$ 28,000,000
$
$
56,000,000
Cumulative Investment
$ 28,000,000
$ 56,000,000
$
56,000,000
$
56,000,000
$
56,000,000
$
56,000,000
AAFFG Cash Flows
$(21,910,000)
$ 20,720,000
$
110,200,000
$
250,560,000
$
299,280,000
$
658,850,000
AAFFG Cumulative Cash Flows
$(21,910,000)
$
$
109,010,000
$
359,570,000
$
658,850,000
$
658,850,000
(1,190,000)
2010
-
$
-
$
-
All figures in $USD
• 5 Year Net Present Value = $473 million (8% discount rate)
•Investment Recovery (Cumulative Break-even) in Q1 2010
• Based on Investment of $56 million over next 17 months
• Cash Flow Positive Q2 2009 (Peak Cumulative Loss ~ $22 million)
28
Investment Opportunities
• Strategic, Equity, Diversified Position in
AAFFG Corporation (Parent/Holding Co.)
• Investment in AAFFG LLC Limited
Partnerships & Joint Ventures:
− Pure Silica (USA, Canada, China)
− Metals Mining and Tailings (USA)
− Oil Exploration and Drilling (USA)
29