SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported: March 29, 2005
CHINA NETTV HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
Nevada 000-26217 98-0203170
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
World Trade Center, Suite 536, 999 Canada Place, Vancouver, BC, Canada V6C 3E2
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(Address of principal executive offices) (Postal Code)
Registrant's telephone number, including area code: (604) 641-1366
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions.
[_] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR240.14d-2(b))
[_] Soliciting material pursuant to Rule 14a-12 under Exchange Act
(17 CFR240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR240.13e-4(c))
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
None
Item 1.02 Termination of a Material Definitive Agreement
None
Item 1.03 Bankruptcy or Receivership
None
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets
None
Item 2.02 Results of Operations and Financial Condition
None
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant
None
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial
Obligation or an Obligation Under an Off-Balance Sheet Arrangement
None
Item 2.05 Costs Associated with Exit or Disposal Activities
None
Item 2.06 Material Impairments
None
Section 3 - Securities Trading Markets
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
None
Item 3.02 Unregistered Sales of Equity Securities
None
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Item 3.03 Material Modification to Rights of Security Holders
None
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.01 Changes in Registrant's Certifying Account
None
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review
None.
Section 5 - Corporate Governance and Mangement
Item 5.01 Changes in Control of Registrant
None
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
None
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year
None
Item 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit
Plans
None
Item 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provi-
sion of the Code of Ethics.
None
Section 6 - [Reserved]
Section 7 - Regulation FD
Item 7.01 Regulation FD Disclosure
None
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Section 8 - Other Events
Item 8.01 Other Events
CHINA NETTV HOLDINGS INC. has acquired the Rights/Permits to conduct exploration
on four additional properties lying within a 10 km radius of the Xietongmen
porphyry-like deposit located some 240 km southwest of Lhasa, Tibet, China.
Xietongmen is the site, underway, of a first phase 26 holes (8,000 meters)
drilling program in conjunction with Continental Minerals Corporation.
Continental has an option to earn a 60% interest in Xietongmen by spending $2
million in payments and $8.0 million in property work by November 9, 2007.
China NetTV Holdings Inc. reported the results of two drill holes completed on
Xietongmen during the fourth quarter of 2003. Diamond drill hole ZK301 reported
a 234.6 meter intercept assaying 0.58 g/t gold and 0.47 % copper including a
section of 115.6 meters assaying 0.68 g/t gold and 0.57 % copper. A second drill
hole, ZK 701 reported a 206.5 meter intercept assaying 1.43 g/t gold and 0.68 %
copper, including a section of 92.6 meters assaying 1.96 g/t gold and 1.02 %
copper.
The four additional properties surrounding Xietongmen are known as: Zemuduola
(18 sq. km.), Banongla (69.6 sq. km.), Donggapu (21.9 sq. km.) and Tangbai (41.9
sq. km.). Banongla & Donggapu are contiguous to the Xietongmen property
boundary. Zemuduola & Tangbai are within 10 km of the property boundary. The
four properties are at an early stage of exploration and are underlain by
similar prospective geology as Xietongmen.
China NetTV Holdings Inc. is required to meet minimum annual payments totaling
approximately $185,000 in order to keep the four additional properties in good
standing with Chinese mining regulations. The Company may earn interests of
between 60% and 80% in the properties by completing the annual payments and
forming certain joint venture relationships subject to approvals from the
Chinese regulators.
Based on the geological database compiled on these properties, the Company is
now conducting an exploration and work program on all four properties. In
addition to the exploration program, an 18 km access road is required to allow
equipment to reach the site of targets (approx 5300 meters above sea level) on
the Zemuduola & Donggapu properties.
Copper and gold mineralization has been reported by the Chinese geologists on
some of the shear zones mapped on the Zemuduola & Donggapu properties. Two
anomalous stream sediment gold values have also been identified on the Banongla
property.
It has been recommended by geologists from government & Chengdu University of
Technology and an independent consultant to the Company that an exploration
program be conducted on the properties. The recommended work includes geological
mapping, geochemical, geophysical surveillance and a trenching program. The
Company will also consider a limited drilling program on mineralized zones on
the Zemuduola property.
The cost of the work program is estimated to be around US$1.3 million and is
expected to be completed by December 2005.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
A. Financial Statements - None
B. Exhibits - 10.1 Mineral Properties Lease and Option Agreement with
Zhuolangji Minging Investment Holdings
10.2 Mineral Properties Lease and Option Agreement with
Xi Hua Minging Development Inc.
10.3 Mineral Properties Lease and Option Agreement with
Jiaertong Mining Development Inc.
10.4 Expenditure and Investment Agreement with
Zhuolangji Minging Investment Holdings Inc.
10.5 Expenditure and Investment Agreement with Xi Hua
Minging Development Inc.
10.6 Expenditure and Investment Agreement with
Jiaertong Mining Development Inc.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: June 29, 2005 China NetTV Holdings, Inc.
By: /s/ Anthony Garson
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Anthony Garson, President/CEO
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