Included in the proposed transaction crafted by Samarium is, upon closing, “a loan of 5.6 million USD at an interest rate of LIBOR plus 8.50% dedicated to the completion of a NI-43101 compliant resource report on the Guadalupe project of the Company, subject to the terms and conditions of this Letter of Intent, plus another 500,000 USD dedicated to an evaluation of the Company’s other projects. The Purchaser intends that the proceeds from the sale of warrants be used by the Company to conduct necessary feasibility studies for putting the Guadalupe project into production.” Samarium has said they intend to complete the closing on or before May 15, 2013.