francois@coalventures.

com

From: Nhlanhla Madalane <nhlanhlam@clvgroup.co.za>

Sent: Tuesday, April 28, 2020 2:30 PM
To: paul@coalventures.com; francois@coalventures.com
Cc: Jacques Jonker
Subject: RE: COALVEST| COAL VENTURES | PROPOSED DEAL| MINERAL ASSETS| RIGHTS
DEVELOPMENT| PROCESS FROM MAY TILL END OF AUGUST 2020| PROPOSED
EFFECTIVE DATE OF TRANSACTION| 1 SEPTEMBER 2020
Attachments: RE: COALVEST| NEW ADVENTURE MINING AND CONSULTING (PTY) LTD|
DEVELOPMENT... (1.30 MB)

Good afternoon Paul,

I trust that you are well. As per our meeting of last week Tuesday morning at 10h00 we hereby confirm our interest
to pursue the opportunities presented to us. We are open to exploring a JV partnership on the mining and further
on the processing of coal on a similar basis as proposed on the attached e-mail communication previously sent to
you. Kindly see attached hereto e-mail correspondence for your ease of refence. Hereunder is our proposed process
and timeline in approaching the transaction. Kindly advise whether you are satisfied with our thinking so that we can
commence with the below. In the interim would you be so kind as to send to us the property description and further
the details and particulars of all the mineral rights in question.
Trusting you find the above in order and looking forward to hearing from you shortly.
Best Regards.

1. Deal Outline summary as per our meeting of last week Tuesday morning at
10h00. May
2. Prepare Due Dilligence
list.
May
3. Prepare Timeline of
Milestones.
May
4. Prepare offer| Term
sheet.
May
5. Appoint Project Manager and Team of Advisors. ie Corporate Financier |Corporate and Tax Law, Mining,
Enviromental and Mettalurgical advisors. May
6. Commence with Due Dilligence Process. Feasibillity study, Financial and sensity
model. June
7. Deal Structure| Fund Raising and Capital
Structure.
June
8. Prepare notice of outcome of due dilligence
Process.
June
9. Prepare formal agreements. Finance, Security, Coal Purchase and Supply
agreements. July
10. Execution.
August

1
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