This document is an offer letter from RockBed Holdings (Pty) Ltd to Jerome Campbell to purchase chrome concentrate. It offers to purchase a total of 20,000 metric tons over 6 months, including an initial spot transaction of 524 metric tons, at a price of R810 per ton. The purchase is subject to RockBed receiving proof of ownership and conducting an assay of the material to confirm the specifications. Upon a positive assay result, RockBed will pay immediately for the initial 524 metric ton spot transaction.

1. Directors:
GT
Michaelides,
D.Pienaar
RockBed
Holdings
(Pty)
Ltd,
Reg:
2015/275296/07
76
Olive
Crest
,
Quorn
Drive,
Northridng
,
2162
Tel:
27
(0)
84
400
0096
|
Fax:
27
(0)
86
534
2076
|
email:
directors@rockbed.co.za
16
December
2015
Offer
to
Purchase
Rockbed
(Rockbed)
has
full
interest
in
purchasing
and
entering
into
an
SPA
(Sale
Purchase
agreement)
with
the
SELLER
,
represented
by
Jerome
Campbell
The
agreement
is
concerned
with
the
potential
purchase
of
Chrome
Concentrate
as
per
Assyed
report
by
IMEC
Laboratories
Rockbed
Holdings
agrees
to
purchase
Chrome
Concentrate
subject
to
the
following
conditions:
-­‐
Ø Total
20
000
(twenty
thousand)
dry
metric
tons
over
6
months
with
rollovers
and
extensions
with
an
initial
spot
transaction
of
524
(Five
hundred
and
twenty
four)
metric
tons
Ø For
the
Initial
Purchase
of
the
Spot
deal,
524
(Five
hundred
and
twenty
four)
metric
tons
will
be
immediately
paid, after
the
assay
report
has
been
done
by
us
at
Ex
warehouse
City
deep
Ø Proof
of
ownership
to
be
supplied,
Subject
to
the
above
conditions
being
met,
RockBed
agrees
to
negotiate
in
good
faith
to
purchase
Total
20
000
(twenty
thousand)
dry
metric
tons
over
6
months
with
rollovers
and
extensions
with
an
initial
spot
transaction
of
524
(Five
hundred
and
twenty
four)
metric
tons
The
representative
of
the
Chrome
and
the
Seller
agrees
to
sell
to
Rockbed
subject
to
the
following:
-­‐:
Ø Total
20
000
(twenty
thousand)
dry
metric
tons
over
6
months
with
rollovers
and
extensions
with
an
initial
spot
transaction
of
524
(Five
hundred
and
twenty
four)
metric
tons
Ø For
the
Initial
Purchase
of
the
Spot
deal,
524
(Five
hundred
and
twenty
four)
metric
tons
will
be
immediately
paid, after
the
assay
report
has
been
done
by
us
at
Ex
warehouse
City
deep
Ø Proof
of
ownership
to
be
supplied,
Offer
to
Purchase
Subject
to
completion
of
its
Lab
report,
and
its
conclusion
being
positive,
Rockbed
proposes
to
the
seller,
along
the
lines
listed
below;
The
Offer
will
comprise
the
following,
1. From
Trade
Core
Premises
at
R810.00
per
ton
(eight
hundred
and
ten
rands
only)
for
LAB
ID
IM11592
–
Concentrate
43.98
/
Cr-­‐Fe
1.34
Our
offer
is
purely
based
on
the
technical
information
you
have
provided.
Sincerely,
George
T
Michedelides