The Chiligatoro Project is currently in the Feasibility Stage of development allowing Minerco to participate in the design and construction of the Project. The Feasibility Study has been completed and submitted to the Secretaria de Recursos Naturales y Ambiente (“SERNA”), as well as the Environmental Ministry.

The Feasibility Study was approved by SERNA in January, 2010, and has been submitted for approval by the National Energy Commission of Honduras. The Commission’s approval of the project and ensuing contract is pending. The Environmental Impact Study has also been submitted to SERNA for approval.