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June 29, 2007 | Exhibit 99.8 |
Messrs.
MINERA ANDES INC.
MINERA ANDES S.A.
111 East Magnesium Rd., Suite A
Spokane, WA
Attention : Allen Ambrose
Facsimile No. (509) 921-7325
MINERA SANTA CRUZ S.A.
Leandro N. Alem Avenue 712, Suite 5A
Capital Federal, Argentina
Attention: Gonzalo Freyre
Facsimile No. (54-ll) 4315-7900
Dear Sirs:
We refer to the letter agreement dated January 5, 2007, as amended, among Hochschild Mining (Argentina) Corporation, formerly known as Lorenzon Limited (“Lorenzon”), Minera Andes Inc., Minera Andes S.A. and Minera Santa Cruz S.A. and the letter agreements dated January 25, 2007, February 28, 2007 and April 26, 2007, each as amended, among the same parties (collectively, the “Letter Agreements”), each relating to advances of the Lorenzon/MSC PFL, the Lorenzon/MAI PFL, and the MAI/MSC PFL (as such terms are defined in the Letter Agreements).
This will confirm our agreement as follows:
1.
The Letter Agreements are amended by deleting paragraph 2 of each of the Letter Agreements and replacing such paragraph with the following:
“We will finalize expeditiously the documentation contemplated by the Funding Letter Agreement to reflect the Lorenzon/MSC PFL, the Lorenzon/MAI PFL and the MAI/MSC PFL. Upon execution and delivery of such documentation and satisfaction or waiver of the conditions to making advances thereunder, fifty-one percent (51%) of the funds advanced hereunder shall constitute an advance under the agreement for the Lorenzon/MSC PFL and forty-nine percent (49%) of the funds advanced hereunder shall constitute advances under the agreements for the Lorenzon/MAI PFL and the MAI/MSC PFL. If for any reason the aforementioned documents are not executed and delivered and conditions to making advances thereunder are not satisfied or waived by no later than August 31, 2007, then, from September 1, 2007 until execution and delivery of such documents and satisfaction or
waiver of such conditions, the advances hereunder shall be deemed to be made on the terms of the respective Bridge Loans and, from September 1, 2007 until such time, shall be governed by the Funding Letter Agreement as such.”
2.
As amended hereby, the Letter Agreements remain in full force and effect.
If the foregoing correctly reflects our agreement, please sign a copy of this letter and return it to us.
Very truly yours,
HOCHSCHILD MINING (ARGENTINA) CORPORATION
By: /s/ Ignacio Rosado
Name: Ignacio Rosado
ACCEPTED AND AGREED:
MINERA ANDES INC.
By:____________________
Name:
Date:
MINERA ANDES S.A
By:_____________________
Name:
Date:
MINERA SANTA CRUZ S.A.
By:_____________________
Name:
Date:
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waiver of such conditions, the advances hereunder shall be deemed to be made on the terms of the respective Bridge Loans and, from September 1, 2007 until such time, shall be governed by the Funding Letter Agreement as such.”
2.
As amended hereby, the Letter Agreements remain in full force and effect.
If the foregoing correctly reflects our agreement, please sign a copy of this letter and return it to us.
Very truly yours,
HOCHSCHILD MINING (ARGENTINA) CORPORATION
By:___________________
Name: Miguel Aramburú
ACCEPTED AND AGREED:
MINERA ANDES INC.
By: /s/ Allen V. Ambrose
Name:
Allen V. Ambrose
Date:
July 5, 2007
MINERA ANDES S.A
By:_____________________
Name:
Date:
MINERA SANTA CRUZ S.A.
By:_____________________
Name:
Date:
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waiver of such conditions, the advances hereunder shall be deemed to be made on the terms of the respective Bridge Loans and, from September 1, 2007 until such time, shall be governed by the Funding Letter Agreement as such.”
2.
As amended hereby, the Letter Agreements remain in full force and effect.
If the foregoing correctly reflects our agreement, please sign a copy of this letter and return it to us.
Very truly yours,
HOCHSCHILD MINING (ARGENTINA) CORPORATION
By:_________________
Name: Miguel Aramburú
ACCEPTED AND AGREED:
MINERA ANDES INC.
By: /s/ Allen V. Ambrose
Name:
Allen V. Ambrose
Date:
July 5, 2007
MINERA ANDES S.A
By: /s/ Jorge A. Vargas
Name: Jorge A. Vargas
Date: 30-07-07
MINERA SANTA CRUZ S.A.
By:_____________________
Name:
Date:
waiver of such conditions, the advances hereunder shall be deemed to be made on the terms of the respective Bridge Loans and, from September 1, 2007 until such time, shall be governed by the Funding Letter Agreement as such.”
2.
As amended hereby, the Letter Agreements remain in full force and effect.
If the foregoing correctly reflects our agreement, please sign a copy of this letter and return it to us.
Very truly yours,
HOCHSCHILD MINING (ARGENTINA) CORPORATION
By:___________________
Name: Miguel Aramburú
ACCEPTED AND AGREED:
MINERA ANDES INC.
By:__________________
Name:
Date:
MINERA ANDES S.A
By:__________________
Name:
Date:
MINERA SANTA CRUZ S.A.
By: /s/ Gonzalo Freyre
Name: Gonzalo Freyre
Date: 29/06/07
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