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Glossary

Terms Definition

EBITDA Earnings before interest, tax, depreciation and amortization

NPV Net present valueIRR Internal rate of returnROI Return on investmentPayback Period Time it takes for investor to recover its investmentProject operating profit margin A ratio of profitability calculated as gross earnings divided by revenue

Glosario

Terms Definition

EBITDA Utilidad (ganancia) antes de interes, impuestors, depreciacion y amortNPV Valor actual netoIRR Tasa interna de retornoROI Retorno sobre la inversionPayback Period Tiempo que toma al inversor para recupar inversion inicialProject operating profit margin El porcentage de ganancia calculado de la siguiente manera: gananci

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izacion

s divididas por las ventas brutas)

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Return on Investment and Profit Distribution ProjectionsIn ('000s) US$

Average Project Operating Profit Margin 73%EBITDA $779,661Project NPV @ 30% $153,092Project IRR 59%Payback period During Second Year

Profit Distributions Year 1 Year 2 Year 3 TotalIn ('000s) US$

Debt Repayment to Investors -$270,000 $71,957 $180,000 $18,043 $230% Project Equity Participation $0 $80,662 $123,145 $2

Investor's Cash Flow $71,957 $260,662 $141,188 $4

Morganjet Profit Share after Debt Repayment $0 $8,212 $269,294 $2

EBITDA $71,957 $268,874 $410,482 $751,3

Annual ROI 0% 30% 46% 7

Annual Average Investor's ROI 25%

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Land Value

LAND VALUE AT TIME OF CONTRIBUTION TO THE PROJECT

Comments

Area (In Hectares) 4,821Area in SM 48,210,000Value of land contribution $915,990,000Land contribution value PSM $19.00 See Appendix

LAND VALUE COMPS

Project name Size of property (in hectares) Price per SM Description/Note

San Jorge $75,000 500 $15

La Pinta $154,000 515 $30

Laguna Shores $90,000 600 $15

Average comp price PSM $20

The view $915,990 4821 $19

Bahia Kino $100,000 2024 $5

Land Contribution Value to "TheView Project"

Asking price in US$ (in '000)

No construction restricat main road. 2500 m oNext to the Pinta peninsPalace. Located 8 milesNo construction restric

at main road. 1000 m oNext to the Pinta peninsPalace2500m ocean front, ho

North of Rocky Point

Projected land value at estimated at $19/PSM. average sales price of $land properties for sale the properties for sale isview" and the Mayan Pthe asking price is $30/another property in Bah$5/PSM and is located from the land at "The Vcomparable properties, property does not enjoyproximity to the airportUS/Mexico Border.

Bahia Kino is South ofdirect comparative, how

the value of the land)

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18 Movie Theater x$50 sq/ft- 19,375 sq/ft 1,936 1,162 77419 Restaurant B 12,916 sq/ft 827 496 33120 Slides with pool 4,100 sq/mt 950 570 38021 MINI Stores x 20- 2,152 sq/ft x20 2,755 1,653 1,10222 SHADES cover or Palapas 588 - 58823 5 small Pools of 1,800 sq/ft . $63,000 x5 315 189 126

24 Bumper boats 330 198 132"The View" Island Construction Cost 34,130 20,125 14,005

La Piccola Venezia construction cost 60% 40

1 homes (182) of 300/SM ea 40,040 24,024 16,0162 Conference rooms 1,980 1,188 7923 Internal Roads: 35,000 mt 700 420 2804 Landscape design and installation 300 180 1205 Venezia style canal 100 60 40

La Piccola Venezia construction cost 43,120 25,872 17,248

Condo Construction Cost 60% 401 30 CONDO buildings (total 180 apartments) 20,160 12,096 8,064 2 Palms 500 palms plus other plants 150 90 60 3 Parkings 400 cars 130 78 52 4 POOL 4 pools 210 126 845 Internal Roads 50 30 20

Condo Construction Cost 20,700 12,420 8,280

Employee Housing Construction Cost 501 Neighborhood of 300 houses ($39,900 each) 11,970 - 5,985 2 Park & Playground 190 - 95 3 Markets Stores 448 - 2244 Elementary School 650 - 325 5 Club House 240 - 1206 Clinic 470 - 2357 Pool 30 - 158 Chapel 480 - 2409 Workshop building 600 - 300

10 Security Offices 80 - 40Total Employee Housing Construction Cost 15,158 - 7,57

Total Construction Cost 147,085 84,710 54,796

Total construction cost + plus participation fee 270,000 207,625 # 54,796

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The View Sales Mix

Home sales: Includes Single family homes and condos

Unit Sales Price Number of Units % of Units soldSales timeline (in '000s) for sale (each home) Year 1 Year 2 Year 3Piccola Venezia (182) $400 182 20% 35%Condos (180) $123 360 20% 35%

Lease Revenue (The Island: Phase I)

Annual Unit Sales Price Number of Units % of Units soldSales timeline per Sq/mt for lease (in Sq/mt) Year 1 Year 2 Year 3

Lease revenue (The Island: Phase I) $144 48,755 0% 30%

Land Sales

Unit Sales Price Number of Units % of Units soldSales timeline (in Sq/mt) for sale (in Sq/mt) Year 1 Year 2 Year 3

Hotel land sales $60 30,000 1 Remaining Land Sales $19 45,580,000 20% 35%

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INCOME STATEMENT PROJECTIONS

In ('000s) US$

Timeline Year 0 Year 1 Year 2 Year 3

Revenue

Home Sales RevenuePiccola Venezia - $14,560 $25,480 $32,760The View Condos - $8,856 $15,498 $19,926

Total Home Sales Revenue - $23,416 $40,978 $52,686

Lease Revenue (The Island Phase I) - $0 $2,106 $4,212

Land SalesHotel Land - $1,800 $0 $0Hypothetical Land sale value (to be delevoped) - $173,204 $303,107 $389,709

Total Land Sales - $175,004 $303,107 $389,709

Total Revenue - 198,420 346,191 446,607

Construction CostsLand Development Construction Cost $25,233Waterpark construction cost - $375 $3,539Big Canal Construction Cost - $685 $4,145"The View" Island Construction Cost $20,125 $14,005La Piccola Venezia construction cost $25,872 $17,248Condo Construction Cost $12,420 $8,280Total Employee Housing Construction Cost $0 $7,579 $7,579

Total Construction Cost - $84,710 $54,796 $7,579

Gross Profit - $113,710 $291,395 $439,028

Operating Expenses

Sales expense 5% $9,921 $17,310 $22,330Project Administrative expense $1,500 $1,750 $1,750Promotion and Advertising expense 1% $1,984 $3,462 $4,466

Total expense - $13,405 $22,521 $28,546

EBITDA (270,000) $100,305 $268,874 $410,482

Operating Profit Margin 51% 78% 92%

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RETURN ON INVESTMENT AND PROFIT DISTRIBUTION PROJECTIONS

In ('000s) US$

Project NPV at 30% $153,092

Project IRR 59%

Investor EBITDA Profit Participation 30% Year 1 Year 2 Year 3 Total

Debt Repayment to Investors -$270,000 $71,957 $180,000 $18,043Project Equity Participation 30% $0 $80,662 $123,145

Investor's Cash Flow -$270,000 $71,957 $260,662 $141,188 $4

MorganJet Profit Share after Debt Repayment $0 $8,212 $269,294

Annual Investor ROI 0% 30% 46%

Annual Average Investor's ROI 25%

Investor's earnings NPV $3,853

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$9.9

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CAPITAL INVESTMENT AND DRAWS

In ('000s) US$

Timeline Year 0 Year 1 Year 2 Year 3

Participation Fee $122,915Capital Investment for WC / Draws $98,115 $48,970Total Investment $270,000

CASH FLOW

In ('000s) US$

Timeline Year 0 Year 1 Year 2 Year 3

Cash Flow from Operations

Initial Cash and Equivalents, $28,348 $36,559

Decrease in Working Capital ($98,115) ($48,970) $0Total Home Sales Revenue $23,416 $40,978 $52,686Lease Revenue (The Island Phase I) $0 $2,106 $4,212Total Land Sales $175,004 $303,107 $389,709Sales expense ($9,921) ($17,310) ($22,330)Project Administrative expense ($1,500) ($1,750) ($1,750)Promotion and Advertising expense ($1,984) ($3,462) ($4,466)

Net Cash Flow from Financing $86,899 $303,048 $454,620

Cash Flow from InvestmentsConstruction Costs ($84,710) ($54,796) ($7,579)

Cash Flow from FinancingCapital Financing $98,115 $48,970 $0Debt Repayment to investor ($71,957) ($260,662) ($141,188)

Net Increase (Decrease) in Cash $28,348 $36,559 $305,854

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INFRASTRUCTURE INVESTMENT (In '000s)

1 Development of energy supply 4,0002 Drinking water plant 4,2003 Recycled water plant 2,1004 Solar illumination 3005 Security Systems 2006 Engineering 2,0007 Admistration of construction project -8 Equipment owned 1,0009 Permits 2,000

10 Pre-project costs 1,20011 Parking for 2000 vehicles 76012 Electric golf carts 24013 Promotion and publicity -14 Construction cost over-run 7,00015 Access road from main highway to the island @ waterpark 20016 Installation of palm trees and xeriscape irrigation system along main access road 33

TOTAL INFRASTRUCTURE INVESTMENT 25,233

Water Park

1 Synthetic Grass 18,000 sq/mt 902 Pool (incl. construction, installation and equip with warranty $13.6 sq/ft) 4763 Snack bar, offices, and restrooms 1,5654 Internal walking and electric card Roads: __9800sq/mt 1085 Water wells and water pumps 256 Side Water Tubes 4,200 sq/mt 3507 Wave machine 9008 Carts 400

WATER PARK TOTAL COST 3,914

BIG CANAL1 Excavation and cover 5002 Waterholes with pumps 1353 Engineering of canal 504 Beach Sand 1005 Palms (15k units 4,0006 Irrigation system 45

BIG CANAL TOTAL COST 4,830

1 Palms and other plants 3002 Grass 280

3 Internal walkway and golf cart roads 904 Lake 28,000 sq/mt 3365 Irrigation systems 21

Construction BUILDINGs ( $64-$70 sq/ft):6 Art / Craft building 19,375 sq/Ft 1,2407 Euro Market 77,500 sq/ft 4,9608 Restaurant A 15,349 sq/ft 9829 Business Center 51,500 sq/ft 3,298

10 Business Park 19375 sq/ft 1,24011 Petit Hotel A x 3 levels - 49,244 sq/ft 3,14012 Petit Hotel B (3 levels) - 49.000 sq/ft 2,95013 Alternative Medicine Ctr. 19,181sq/ft x $100 1,918

ISLAND THE VIEW (First STAGE)

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14 Spa 4,843 sq/ft 31015 Snow Place 54,809sq/ft 3,50716 Kid Place 16,143sq/ft 1,03317 Gym 13,175 sq/ft 82418 Movie Theater x$50 sq/ft- 19,375 sq/ft 1,93619 Restaurant B 12,916 sq/ft 82720 Slides with pool 4,100 sq/mt 95021 MINI Stores x 20- 2,152 sq/ft x20 2,75522 SHADES cover or Palapas 58823 5 small Pools of 1,800 sq/ft . $63,000 x5 31524 Bumper boats 330

TOTAL ISLAND: 34,130

The Piccola Venezia

Caracteristics: Home average 300 sq/mt . x 182 homes plus 9 meeting rooms.Construction cost

1 homes (182) of 300/SM ea 40,0402 Conference rooms 1,9803 Internal Roads: 35,000 mt 7004 Landscape design and installation 3005 Venezia style canal 100

Total "The Piccola Venezia" investment 43,120

CASINO-HOTEL INVESTMENT Construction cost

1 HOTEL building 74,400 sq/ft x 3 levels 14,8802 Parking 400 cars 1303 Palms and others plants 500 1504 Pool 4,000 sq/mt 1405 Machines and accessories 400

CASINO-HOTEL INVESTMENT TOTAL 15,700

CONDO INVESTMENT

1 30 CONDO buildings (total 180 apartments) 20,1602 Palms 500 palms plus other plants 1503 Parkings 400 cars 1304 POOL 4 pools 2105 Internal Roads 50

CONDO INVESTMENT 20,700

WORK COMMUNITY (HOUSES FOR RENT)

1 Neighborhood of 300 houses ($39,900 each) 11,9702 Park & Playground 1903 Markets Stores 4484 Elementary School 6505 Club House 2406 Clinic 470

7 Pool 308 Chapel 4809 Workshop building 600

10 Security Offices 80

Total Employee housing facilities 15,158

GRAND TOTAL 162,785

147,085

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Year 1 Year 290

4761,565

10825

350900400

375 3,539

Year 1 Year 2500135

50100

4,00045

685 4,145

Year 1 Year 260% 40%

300280

90336

21

744 4962,976 1,984

589 3931,979 1,319

744 4961,884 1,2561,770 1,1801,151 767

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186 1242,104 1,403

620 413494 330

1,162 774496 331570 380

1,653 1,102588315

33020,661 13,469

Sudvision costs100%

40,0401,980

700300100

43,120

Sudvision costs100%

14,880130150140400

15,700

100%20,160

150130210

50

20,210 490

100%11,970

190448650240470

30480600

80

15,158

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INFRASTRUCTURE INVESTMENT in thousands

1) DEVELOPMENT OF ENERGY SUPPLY 4,0002) Drinking WATER Plant 4,2003) Recicled Water Plant 2,1004) LIGHT solar: 500 x $600 each 3005) Security Systems 200

2,000

5,000

1,000

2,000

1,200

760

240

1,500

7,000TOTAL INFRASTRUCTURE INVESTMENT 31,500

WATERPARK:

1) Camino de entrada desde la Coastal Highwayhasta la Isla bordeando el Waterpark 200

sistema de riego por goteo. 33

90

476

1,565

108

25

350

900

400

WATER PARK TOTAL COST 4,147

500

135

50

100

4,000

45

BIG CANAL TOTAL COST 4,830

6) ENGINEERING:

7) ADMINISTRATION: during construction

8) OWN Equipment:

10) PERMITs

11) ANTEPROYECTOS

12) PARKING: 2000 vehicles

13) Electric golf CART 6 persons (40)

14) PROMOTION and PUBLICITY

15) IMPREVISTOS

2) PALMAS a los dos costados del camino con

3) Sinthetic Grass 18,000 sq/mt

4) Pool installed with equipment, filters and guarranty 13.60

5) SNAK BARs, offices and RestRoms, 24,400 sq/ft

6) Internal walking and electric card Roads: __9800sq/mt

7) Pozos and Water PUMPs:

8) Side Water Tubes 4,200 sq/mt

9) Waves Machines

10) Go carts

BIG CANAL: around the Island and around Venethya

A) EXCAVATION plus Cover

B) WATER HOLES with pumps

C) ENGINEERING big canal

D) Beach SAND

E) PALMS 15,000

F) Irrigation system

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The Piccola Venezia

Caracteristics: Home average 300 sq/mt . x 182 homes plus 9 meeting rooms.Sudvision costs

Construction cost 10%b1) 182 homes. of 3,200 sq/ft prom plus 9 extras, 40,040 4,004conference rooms (9) 1,980 198b2) Internal Roads: 35,000 mt 700

b3) PALMS & others 700 palmas 300b4) CANAL internal 35,200 sq/mt 100Total "The Piccola Venezia" investment 43,120 4,202

HOTEL - CASINO THE VIEW

c1) HOTEL building 74,400 sq/ft x 3 levels 14,880c2) Parking 400 cars 130c3) Palms and others plants 500 150c4) Pool 4,000 sq/mt 140c5) Machines and accessories 400

CONDOMINIUMS BUILDINGSCaracteristis: Buildings with 3 levels (two appatments by each level)1,600 sq/ft average each dpt. 9,600 sq/ft each condo building.

d1) 30 CONDO buildings (total 180 apartments) ___ $ 20,160,000 20,160d2) Palms 500 palms plus other plants ___________ $ 150,000 150d3) Parkings 400 cars ________________________ $ 130,000 130d4) POOL 4 pools ___________________________ $ 210,000 210d5) Internal Roads ___________________________ $ 50,000 50

TOTAL CONDOS _________________________ $ 20,700,000

Work Community (houses for rent)

Caracteristics: Buildings with 1 level of 800 sq/ft+ terraza. Total terrain: 1,500 sq/ftEach House count with a backyard to develop work activities.

e1) Neighborhood of 300 houses ($39,900 each) 11,970e2) Park & Playground 190e3) Markets Stores 448e4) Elementary School 650e5) Club House 240e6) Firt Aid or Clinic 470e7) Pool 30e8) Chapel 480e9) Workship buildin 600

e10) Security Offices 80

TOTAL INVESTMENT CONDOS 15,158

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THE VIEW ProjectCONSTRUCTION COSTINFRAESTRUCTURE AND DETAILS

TOTAL SURFACE available:

4.821 - 82 - 28.948 Has=

48,218,200 Sq/mt=

11,914.97 Acres= 518,928,120 sq/ft

around $1.39 sq/ft

around $0.57 sq/ft(este valor podra o no considerarse para el proyecto) posiblemente debe considerarse solo el valor actual de

TOTAL COST:

TC2) BIG CANAL around the island and Venethya ___ $ 4,830,000

Value of land in the area by comparison_ $20 sq/mt = $ 964,364,000

Value of land in negotiation a $25,000/Acre: $297,823,750

TC1) WATERPARK__________________________________ $4,144,000

TC3) ISLAND (First Stage) _________________________ $ 33,227,000

TC4) VENETHYA __________________________________ $43,120,000

TC5) HOTEL-CASINO VIEW ________________________ $ 15,700,000

TC6) CONDOS ____________________________________ $20,700,000

TC7) WORK COMMUNITY __________________________ $ 15,158,000

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TC7) GENERAL COST _____________________________ $ 31,498,000

Total Cost __________________________________________ $ 168,337,000

1) ENERGY_____________________ $ 4,000,000

2) Drinking WATER Plant __________ $ 4,200,000

3) Recicled Water Plant ___________ $ 2,100,000

4) LIGHT solar: 500 x $600 each ____ $ 300,000

5) Security Systems ______________ $ 200,000

THE VIEW GENERAL INFRASTRUCTURE COST:

6) ENGINEERING: _______________ $ 2,000,000

7) ADMINISTRATION: during construction_ $ 5,000,000

8) OWN Equipment: __________________ $ 1,000,000

10) PERMINTs ______________________ $ 2,000,000

11) ANTEPROYECTOS _______________ $ 1,200,000

12) PARKING: 2000 cars ______________ $ 758,088

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TOTAL GENERALS ________________ $ 31,498,000

WATERPARK:1) Camino de entrada desde la Coastal Highwayhasta la Isla bordeando el Waterpark.________________________ $ 200.000

sistema de riego por goteo. ______________________________ $ 33.000

13) Electric golf CART 6 persons (40) ____ $ 240,000

14)

PROMOTION and PUBLICITY _______ $ 1,500,000

15) IMPREVISTOS ___________________ $ 7,000,000

2) PALMAS a los dos costados del camino con

3) Sinthetic Grass 18,000 sq/mt ____________________________ $ 90.000

4) Pool installed with equipment, filters and guarranty 13.600 sq/ft__$ 476,000

5) SNAK BARs, offices and RestRoms, 24,400 sq/ft ___________ $ 1,563,952

6) Internal walking and electric card Roads: __9800sq/mt________ $ 108,000

7) Pozos and Water PUMPs: ______________________________ $ 25,000

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WATER PARK TOTAL COST ___________________________ $ 4,144,976

8) Side Water Tubes 4,200 sq/mt __________________________ $ 350,000

9) Waves Machines ____________________________________ $ 900,000

10) Go carts __________________________________________ $ 400,000

BIG CANAL: around the Island and around Venethya

A) EXCAVATION plus Cover

B) WATER HOLES with pumps _______________ $ 135,000

C) ENGINEERING big canal _________________ $ 50,000

D) Beach SAND __________________________ $ 100,000

E) PALMS 15,000 ________________________ $ 4,000,000

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BIG CANAL TOTAL COST _________________ $ 4,830,000

A) PALMS and other plants __________________ $ 300,000

B) GRASS 7 has __________________________ $ 280,000

F) Irrigation system _______________________ $ 45.000

ISLAND THE VIEW (First STAGE)

C) Internal walking and elect cars Roads _______ $ 90,000

D) LAKE 28,000 sq/mt _____________________ $ 336,000

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Construction BUILDINGs ( $64-$70 sq/ft):

a1) Art / Craft building 19,375 sq/ft ___________ $ 1,240,000

a2) Euro Market 77,500 sq/ft ________________ $ 4,960,000

a3) Restaurant A 15,349 sq/ft _______________ $ 982,336

a4) Business Center 51,500 sq/ft ____________ $ 3,298,368

a5) Business Park 19375 sq/ft ______________ $ 1,240,000

a6) Petit Hotel A x 3 levels - 49,244 sq/ft _______ $ 3,140,000

a7) Petit Hotel B (3 levels) - 49.000 sq/ft _______ $ 2,950,000

a8) Alternative Medicine Ctr. 19,181sq/ft x $100__ $ 1,918,000

a9) Spa 4,843 sq/ft ________________________ $ 309,952

a10) Snow Place 54,809sq/ft ________________ $ 3,507,776

a11) Kid Place 16,143sq/ft __________________ $ 1,033,280

a12) Gym 13,175 sq/ft _____________________ $ 824,000

E) Irrigation systems ______________________ $ 21,000

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a13) Movie Theater x$50 sq/ft- 19,375 sq/ft _____ $ 1,936,000

a14) Restaurant B 12,916 sq/ft _______________ $ 826,624

a15) SLIDES with pool 4,100 sq/mt ____________ $ 950,000

a16) MINI Stores x 20- 2,152 sq/ft x20 _________ $ 2,754,560

a17) SHADES cover or Palapas

a18) 5 small Pools of 1,800 sq/ft . $63,000 x5 ____ $ 315,000

a) BUMPER BOATs ________________________ $ 330,000

TOTAL ISLAND: __________________________ $ 33,227,000

Caracteristics: Home average 300 sq/mt . x 182 homes plus 9 meeting rooms.

b1) 182 homes. of 3,200 sq/ft prom plus 9 extras,

b2) Internal Roads: 35,000 mt ___________________ $ 700,000

VENETYA Infraestructure and Building

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b3) PALMS & others 700 palmas _________________ $ 300,000

b4) CANAL internal 35,200 sq/mt _________________ $ 100,000

HOTEL - CASINO THE VIEW

c1) HOTEL building 74,400 sq/ft x 3 levels ___________ $ 14,880,000

c2) Parking 400 cars ____________________________ $ 130,000

c3) Palms and others plants 500 ___________________ $ 150,000

c4) Pool 4,000 sq/mt ____________________________ $ 140,000

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c5) Machines and accessories _____________________ $ 400,000

TOTAL HOTEL CASINO _______________________ $ 15,700,000

Caracteristis: Buildings with 3 levels (two appatments by each level)1,600 sq/ft average each dpt. 9,600 sq/ft each condo building.

d1) 30 CONDO buildings (total 180 apartments) ___ $ 20,160,000

d2) Palms 500 palms plus other plants ___________ $ 150,000

CONDOMINIUMS BUILDINGS

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d3) Parkings 400 cars ________________________ $ 130,000

d4) POOL 4 pools ___________________________ $ 210,000

d5) Internal Roads ___________________________ $ 50,000

TOTAL CONDOS _________________________ $ 20,700,000

Caracteristics: Buildings with 1 level of 800 sq/ft+ terraza. Total terrain: 1,500 sq/ftEach House count with a backyard to develop work activities.

e1) Neighborhood of 300 houses ($39,900 each) ___ $ 11,970,000

e2) Park & Playground ________________________ $ 190,000

Work Community (houses for rent)

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e3) Markets Stores ___________________________ $ 448,000

e4) Elementary School _______________________ $ 650,000

e5) Club House _____________________________ $ 240,000

e6) Firt Aid or Clinic __________________________ $ 470,000

e7) Pool __________________________________ $ 30,000

e8) Chapel ________________________________ $ 480,000

e9) Workship building ________________________ $ 600,000

e10) Security Offices _________________________ $ 80.000

TOTAL WORK COMMUNITY _________________

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la tierra.

PROJECT IN '000SPROJECT PARTICIPATION FEE 100.00

-

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100.00

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Canal 5,000 meters x 30 mt wideplus work and plastic cover______________ $ 500,000

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50,000 sq/ft - 295 spaces x $2000 _______ $ 588,235

$ 220.000 each x 182 ____

$ 220.000 each x 9 ______

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TOTAL VENETHYA ______________________ $ 43,120,000

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$ 40,040,000

$ 1,980,000

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70 departamentos de 1,400 sq/ft, costo $46,000 cada uno, venta $195,000.120 deptos de 850 sq/ft, costo $29,000 cada uno, venta $129.000170 dptos de 650 sq/ft, costo $20,000 cada uno, venta $ 89,000.

70 195000 13,650,000120 129000 15,480,000170 89000 15,130,000

44,260,000122,944.44

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In hectaresTotal Project area 4821Land set aside for future development 394Main project area 263 5%Land to be used for development of employee housing 450Remaining land available for sale 3714

Purchase Transaction

Area (In Hectares) 4,821Area in SM 48,210,000Purchase price $50,000,000Purchase price PSM $1.04