Amapa Investment means, collectively, all Investments by the Borrower and its Subsidiaries in Amapa.
In addition, the Company has a 30% interest in the Amapa Project, a Brazilian iron ore project, and a 45% economic interest in the Sonoma Project, an Australian coking and thermal coal project.
Cliffs has a 30% ownership interest in the Amapa Iron Ore Project.
TNCP provides mobile telecommunications services in a region covering the states of Para, Amazonas, Maranhao, Amapa, and Roraima in the north and northeast of Brazil.
On March 8, 2004, the Company entered into a Purchase Agreement ("Agreement") whereby the Company has the option to acquire a 100% undivided interest in approximately 130,000 acres (approximately 53,000 hectares) of mineral claims ("the mineral claims") prospective for gold in Amapa State, Brazil for 2,000,000 common shares of the Company at a deemed value of US$1.50 with 400,000 shares released immediately and 400,000 shares each six months thereafter until all 2,000,000 shares have been released.