The Cortellazzi Consortium

February 25, 2008

They say B.O.O.T, We Say B.O.T.

Filed under: Uncategorized — 18montecristo67 @ 1:21 am

Over the past month, UMining has issued a number of press releases (28 Jan 2008, 11 Feb 2008, 12 Feb 2008, 21 Feb 2008) concerning what it refers to as a Build-Own-Operate-Transfer (B.O.O.T) agreement with the Government of Guinea.

“NEW YORK, NY–(Marketwire – January 28, 2008) – U Mining Resources Inc. (PINKSHEETS: UMNG) today announced further details and updated information on the signing of the BOOT (Build-Own-Operate-Transfer) Agreement with Comitrag. Comitrag S.A. is the regional contractor selected by U Mining to head up and oversee development operations in West Africa. “

The Government of Guinea does not use the term B.O.O.T to describe this type of agreement, it uses the more universally known term B.O.T.

B.O.T agreements with private enterprise are not a mysterious unknown to the Government of Guinea, because legislation concerning such agreements has been in existence for the last 10 years (1 June 1998) and it is available for public consultation.

The reader should take note of the complete absence of U Mining and Comitrag S.A. on the Government of Guinea’s website which lists all the compagnies which have current mining operations in their country.

The Government list provided for the reader in the graphic below.


The Government of Guinea has also posted information concerning the Simandou area and the Trans Guinean railway project (French only), neither web page makes any mention of this significant project which UMining identifies in their recent press releases.

They say B.O.O.T., we say B.O.T.

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