Dundee Resources has also agreed to provide AITCO Barbados with a US$6 million line of credit.
Dundee Resources is evaluating other Bolivian investment opportunities that may be conducted through AITCO Barbados.
In August 2006, Dundee Resources entered into an arrangement with Valdez whereby Dundee Resources will provide technical expertise that will include developing a drilling program and coordinating all facets of the company's exploration efforts in Mexico.
It is anticipated that AITCO Barbados will spend the full US$11 million in equity and debt financing provided by Dundee Resources on the completion of pre-feasibility stage studies on the Projects over the next 12 to 18 months.
Resources Activities in our resources segment are carried out through Dundee Resources Limited ("Dundee Resources"), a wholly owned subsidiary, and our 51% interest in Eurogas Corporation ("Eurogas") (www.eurogascorp.com), an oil and gas company that plans to carry out exploration, development, and natural gas storage activities and has interests in Spain and Tunisia.