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BATOVI DIAMOND PROJECT (Detail Textuals 1) (Batovi Diamond Project, USD $)
0 Months Ended
Feb. 10, 2014
Batovi Diamond Project
 
Agreement [Line Items]  
Interest earned in project pro rated based description If the Company fulfills its obligations to earn the 49% interest but fails to obtain the 60% interest, the Company will have earned an interest in the project pro rated based upon the payments made on the following basis: for every $1,000,000 paid (in addition to the $3,000,000 contributed to earn the 49% interest) of the $37,000,000 the Company shall earn an additional 0.297% interest (in addition to the 49% interest) in the project.
Amount paid to earn interest on pro rata basis $ 1,000,000
Amount contributed to earn condition one percent interest 3,000,000
Additional interest earned on payment of exploration expenses 0.297%
Number of years within mine put into commercial production 4 years
Percentage share from which mine construction cost repaid 80.00%
Percentage of mine profits 25.00%
Amount invested to repay mine construction cost 40,000,000
Maximum committed amount by major mining company $ 250,000,000