10K
October 14, 2008
10-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K
þ ANNUAL REPORT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 2008
o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to ___________.
Commission file number 333-1421-28
Dana Resources
(Exact name of registrant as specified in its charter)
|
Wyoming |
n/a |
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(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
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810 Malecon Cisneros |
|
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Miraflores, Lima Peru R5 18 |
380 44 331 6201 |
|
(Address of principal executive offices) (Zip Code) |
(Registrant’s telephone number, including area code) |
Danapc.com
(Former name, former address and former fiscal year, if changed since last report)
Securities registered under Section 12(g) of the Exchange Act: None
Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. o
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. o
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.þ
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer o Accelerated filer o Non-accelerated filer o Smaller reporting company þ
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) No þ
Aggregate market value of the voting stock of the registrant held by non-affiliates of the registrant at December 31, 2007 (computed by reference to the latest price at which the common equity was sold; $0.0029): $11,600
Number of common shares outstanding at September 25, 2008: 75,280,710
TABLE OF CONTENTS
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PART I
Cautionary Statement
This Annual Report on Form 10-K contains forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including, "could" "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this Annual Report.
Currency
All currency references in this Annual Report are in US dollars unless otherwise noted.
Introduction
Dana Resources (“Dana”, “we”, “us”) was incorporated in Wyoming on July 21, 2006 as Danapc.com. We have one wholly owned subsidiary, Dana Resources SAC, a Peruvian company, incorporated on September 24, 2008. Formerly, our business was to build and market an educational website on the subject of personal computing. Until recently our activities have been limited to organizational matters and developing our former website, www.danapc.com. On January 28, 2008, we amended our articles of incorporation to change our name to Dana Resources. The change of our name coincided with our decision to abandon our former business activities and to engage in the acquisition, exploration and development of mineral properties. On February 20, 2008, we amended our articles of incorporation to effect a 70-for-1 forward stock split which was paid on February 21, 2008. Our share price changed to reflect the forward split on February 21, 2008. The rights of our shareholders were not changed as a result of the forward split. The new CUSIP number for our common stock is 235845-10-4. Additionally, certain of our shareholders cancelled shares held by them in connection with the forward stock split. The cancelled shares represent all of the 5,640,000 (pre-split) shares that were subject to a Lockup Agreement dated July 31, 2007, as well as 9,642, 847 (pre-split) shares owned by our former officer and director. The total number of cancelled shares is 15,282,847 (pre-split) shares, resulting in 717,153 shares outstanding before the forward stock split and 50,200,710 shares after the forward stock split became effective. Finally, on September 23, 2008 we effected a change in par value from $0 per share to $.001 per share. Both the forward stock split and change in par have been reflected in our financial statements on a retroactive basis since inception.
We have not yet earned any revenues and have had operational losses to date, as well as an accumulated shareholder deficit. As of June 30, 2008, we had incurred net losses since inception in the amount of $20,699,924. We do not expect to generate revenues in the next two years. We may not generate revenues even if our exploration program indicates that mineral deposits may exist on our mineral concessions.
Our common stock became eligible for trading on the FINRA-operated Over-the-Counter Bulletin Board (“OTCBB”) in September 2007. Our common stock is traded under the ticker symbol “DANR.OB”. The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for over-the-counter equity securities. OTCBB securities are traded by a community of market makers that enter quotes and trade through a sophisticated computer network. Information on the OTCBB can be found at www.otcbb.com. We have not paid any dividends on our common stock. We currently intend to retain any earnings for use in our business, and therefore do not anticipate paying cash dividends in the foreseeable future.
1
Our Business
On June 3, 2008, we completed the purchase of 19 patented and unpatented base and precious metal mining properties (the “Properties”) located in the provinces of Chumbivilcas, Recuay, Piura, Huaytara, Pallasca, and Huancabamba, Peru, from SMRL Angelo XXI, a Peruvian corporation. As of September 25, 2008, we have not completed the registration of title to the properties in our name. On September 24, 2008, we incorporated a wholly owned Peruvian subsidiary, Dana Resources SAC, which will be the registered holder of title in the properties. Our title in the properties entitles us to exploit the mineral rights in the properties but does not grant us any surface rights. We will have to successfully negotiate with the holders of surface rights to our properties in order to carry out any plan of exploration.
The purchase of the properties was completed pursuant to the Agreement for the Assignment of Mining Rights (the “Angelo XXI Agreement”) between us and SMRL Angelo XXI entered into on June 3, 2008, which agreement replaced the letter of intent between us and SMRL Angelo XXI entered into on March 8, 2008 as disclosed in our report on Form 8-K filed on March 13, 2008.
The purchase price of the property was 25,000,000 restricted shares of our common stock valued at $1.15 per share for a total value of $28,750,000, based on the closing price of our common stock as quoted on the OTC Bulletin Board on June 3, 2008, which has since been written down to $9,350,000 due to an impairment charge of $19,400,000 for the year ended June 30, 2008. SMRL Angelo XXI is also entitled to receive a net production royalty of 1.5% of the proceeds of minerals mined and sold from the Properties. We are also responsible for all costs associated with transferring and maintaining the title to the Properties, including payment of approximately $23,000 in past due annual maintenance fees.
In accordance with the agreement 23,000,000 and 2,000,000 of the shares payable in respect of the purchase price were issued respectively to Elmer Moses Rosales Castillo (Elmer Rosales), the Chairman of our Board of Directors, and SMRL Virgen De Las Nieves IV, a Peruvian corporation. The agreement restricts any sale or transfer of the shares until May 16, 2010. Additionally, pursuant to the agreement, we have appointed Mr. Rosales as Chairman of our Board of Directors and as general manager of our Peruvian subsidiary, Dana Resources SAC. We have also agreed to pay to Mr. Rosales or his appointee $10,000 per month for his director and managerial services commencing in September, 2008. Any amounts paid to Mr. Rosales in respect of fees for services will be deductible from any net production royalties payable to SMRL Angelo XXI.
Mr. Rosales is the president of both SMRL Angelo XXI and SMRL Virgen De Las Nieves IV. To our knowledge, Mr. Rosales has sole voting and dispositive control with regard to securities held by SMRL Virgen De Las Nieves IV. The issuance of the 25,000,000 shares brings our total issued and outstanding common stock to 75,280,710 and gives Mr. Rosales dispositive and voting control of approximately 33% of our issued and outstanding capital stock.
Prior to the appointment of Mr. Rosales as Chairman of our Board of Directors on September 3, 2008, there was no material relationship between us or our affiliates and SMRL Angelo XXI, other than in respect of the material definitive agreement entered into.
As a result of our acquisition of the Properties, we are no longer a shell company as defined in Rule 12b-2 of the Exchange Act.
2
Plan of Operation
We have not completed a plan of operation and have not anticipated the cost of exploring our mineral properties. We intend to complete a plan of operation once we have completed the title registration of our mineral properties. There is no assurance that we will be able to accurately anticipate the cost of exploring our mineral properties or obtain the financing necessary to complete any plan of exploration. This could prevent us from achieving revenues.
Our plan of operation will include a budget for a planned exploration program. However, there is no assurance that our actual costs will not exceed the budgeted costs. Factors that could cause actual costs to exceed budgeted costs include unanticipated costs of securing surface rights to the properties, increased prices due to competition for personnel and supplies, unanticipated problems in completing the exploration program and delays experienced in completing the exploration program. Increases in exploration costs could result in us not being able to carry out our exploration program without additional financing. There is no assurance that we would be able to obtain additional financing in this event. This could prevent us from achieving revenues.
Markets and Competition
We are a mineral resource exploration company. We compete with other mineral resource exploration companies for financing and for the acquisition of new mineral properties. Many of the mineral resource exploration companies with whom we compete have greater financial and technical resources than those available to us. Accordingly, these competitors may be able to spend greater amounts on acquisitions of mineral properties of merit, on exploration of their mineral properties and on development of their mineral properties. In addition, they may be able to afford more geological expertise in the targeting and exploration of mineral properties. This competition could result in competitors having mineral properties of greater quality and interest to prospective investors who may finance additional exploration and development. This competition could adversely impact on our ability to achieve the financing necessary for us to conduct further exploration of our mineral properties.
We will also compete with other mineral exploration companies for financing from a limited number of investors that are prepared to make investments in mineral exploration companies. The presence of competing mineral exploration companies may impact on our ability to raise additional capital in order to fund our exploration programs if investors are of the view that investments in competitors are more attractive based on the merit of the mineral properties under investigation and the price of the investment offered to investors.
We will also compete with other mineral companies for available resources, including, but not limited to, professional geologists, camp staff, helicopter or float planes, mineral exploration supplies and drill rigs.
3
Government Regulations
General
Any operations at our mineral concessions will be subject to various laws and regulations in Peru which govern prospecting, development, mining, production, exports, taxes, labor standards, occupational health, waste disposal, protection of the environment, mine safety, hazardous substances and other matters. We will be required to obtain those licenses, permits or other authorizations currently required to conduct exploration and other programs. There are no current orders or directions relating to us or our mineral concessions with respect to the foregoing laws and regulations. If we commence operations on our concessions, it is reasonable to expect that compliance with various regulations will increase our costs. Such compliance may include feasibility studies on the surface impact of our proposed operations, costs associated with minimizing surface impact, water treatment and protection, reclamation activities, including rehabilitation of various sites, on-going efforts at alleviating the mining impact on wildlife and permits or bonds as may be required to ensure our compliance with applicable regulations. It is possible that the costs and delays associated with such compliance could become so prohibitive that we may decide to not proceed with exploration, development, or mining operations on any of our mineral properties. We are not presently aware of any specific material environmental constraints affecting our properties that would preclude the economic development or operation of property in Peru.
The two primary entities in Peru that regulate and supervise mining companies are the Ministry of Energy and Mines and the National Institute of Concessions and Mining Cadastre. The Ministry of Energy and Mines oversees regulatory compliance for safety, environmental protection, job-related health, contractors, and mining development matters. In addition to the Ministry of Energy and Mines’ own officers, private companies specifically registered with the Ministry of Energy and Mines are also entitled to supervise such compliance. The National Institute of Concessions and Mining Cadastre grants mining concessions entitling the concession holder the right to explore and exploit the zone where such concessions are located. Concession holders are required to explain how operations will comply with Peruvian environmental regulations by filing an Environmental Impact Assessment.
Other Peruvian governmental and regulatory bodies involved with mining companies include the:
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• |
National Institute of Natural Resources, which manages protected natural areas and issues an advisory opinion on every concession holder’s Environmental Impact Assessment, to the extent that planned operations will alter natural landscape; |
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• |
General Bureau of Environmental Health of the Ministry of Health, which manages waste discharge into the environment and related issues, particularly those that may affect public health; |
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• |
Ministry of Internal Affairs, which approves the acquisition, transport and usage of explosives for mining companies; |
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• |
National Institute of Culture, which certifies the absence of archaeological remains on exploration sites, as typically required for the Environmental Impact Assessment; |
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• |
General Bureau of Harbor Masters’ Offices and Coastguards, which enforces sanctions if rivers or navigable lakes located within Peru’s national borders are contaminated for whatever reason; and |
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Supervisory Board for Investment in Energy, which monitors compliance with conservation laws in regard to utility issues. |
In conjunction with the Peruvian central government, regional governments manage natural resources and improve the quality of the environment on a sustained basis. In addition, municipalities grant licenses for municipal, business, and residential construction.
Environmental laws:
The Peruvian Ministry of Energy and Mines establishes an environmental protection policy and sets maximum allowable levels for effluents, signs environmental administrative stability agreements, oversees the impact of mining operations and imposes administrative sanctions.
Pursuant to Supreme Decree 38-98-EM approved on November 30, 1998, concession holders are required to obtain an environmental permit from the Directorate for Environmental Affairs in order to carry out exploration and development activities. Mining companies are responsible for the control of emissions, discharges of effluent and disposal of all by-products resulting from their operations, and for the control of substances that may impose any hazard, either due to excessive concentrations or prolonged exposure. An exploration permit is only required in respect of surface hole drilling, and is not required for underground drilling. There is no guarantee that we will obtain the appropriate environmental permits in order to carry out any exploration.
Pursuant to Supreme Decrees 016-93-EM and 046-2001-EM, an environmental impact assessment must be approved by the Ministry of Energy and Mines before mining operations commence.
4
Impact of Environmental Non-Compliance
Non-compliance with Peruvian environmental laws or regulations can result in the imposition of administrative sanctions, such as fines, closure orders, or the lapse of mining concessions.
Failing to comply with Environmental Impact Assessment obligations or tax regulations may result in criminal and civil action against the Company and its representatives.
Mine Closure Law
If we commence mining operations in the future, we may become subject to the Mine Closure Law, which provides that existing mining operations must submit a mine closure plan for certification to the Peruvian Ministry of Energy and Mines within a 6-month period, after the Mine Closure Law comes into effect.
Workers’ Participation
Under Peruvian law, every company that generates income and has more than twenty workers on its payroll is obligated to permit its workers to share in its profits. For mining companies, the percentage of this profit-sharing benefit is 8% of pre-tax income. Cooperatives, self-managed companies, civil partnerships and companies that do not have more than twenty workers are exempt from this profit-sharing obligation. Both permanent and contract workers must be taken into account for purposes of these laws; the only legal requirement is that such workers must be registered on a company’s payroll. The profit-sharing amount made available to each worker is limited to 18 times the worker’s monthly salary, based upon their salary at the close of the previous tax year.
Peruvian Bankruptcy Laws
Pursuant to Peruvian law, bankruptcy proceedings are heard by the Commission of Bankruptcy Proceedings, part of the Peruvian National Institute for the Defense of Free Competition and the Protection of Intellectual Property, a non-judicial government agency with exclusive jurisdiction in the administration of bankruptcy proceedings. Peruvian bankruptcy law regulates two major types of bankruptcy proceedings: (i) ordinary bankruptcy proceedings, which can be initiated only by a creditor; and (ii) preventive bankruptcy proceedings, which can be initiated only by a debtor.
In ordinary bankruptcy proceedings, the Commission of Bankruptcy may declare the debtor insolvent, triggering an injunction against the continuance of any action against the debtor or the debtor’s property. After the Commission of Bankruptcy has evaluated and classified all outstanding debts, a committee of creditors is appointed. The creditors’ committee will propose a plan to either reorganize the debtor, including a schedule for the repayment of its debts, or to dissolve the debtor and appoint a liquidator. Any plan
proposed by the creditors’ committee must be approved by creditors holding at least two-thirds of the acknowledged debts.
During reorganization, the creditors’ committee assumes the powers and authority ordinarily exercised by the debtor’s board of directors, its officers and shareholders. A creditor holding in excess of two-thirds of the debtor’s acknowledged debts is in effect empowered to manage the affairs of the debtor, pay its debts, appoint new directors and officers and enter into agreements, among other things.
5
Peruvian Civil Process
Under Peruvian law, civil claims seeking money damages are decided by a First Instance Judge. The First Instance Judge may grant provisional remedies, including preliminary injunctions which are enforceable before the filing of a claim. Injunctions and decisions of First Instance Judges are subject to review, upon appeal, by a three member panel of the Judicial District Superior Court.
Appeal from the Judicial District Superior Court is permitted, in extraordinary circumstances, to the Supreme Court of The Republic of Peru, based on misinterpretation or non-application of the law by the lower courts or a violation of the due process.
Research and Development Expenditures
We have not spent any amounts on research and development activities since our inception.
Employees and Consultants
As of September 25, 2008, we have no part time or full time employees. Len De Melt, our director and President works part time as an independent contractor and works in the areas of business development and management. He currently contributes approximately 30 hours a week to Dana Resources. Elmer Rosales, the Chairman of our Board of Directors, also works part time as an independent contractor in the areas of business development and management, and currently contributes approximately 30 hours a week to Dana Resources. We plan to engage independent contractors in the areas of accounting, geological, legal, consulting, marketing, accounting, bookkeeping and other services.
Subsidiaries
As of September 25, 2008, we have one wholly owned subsidiary, Dana Resources SAC, a Peruvian company incorporated on September 24, 2008. We intend to transfer title to our newly acquired Peruvian mineral concessions to Dana Resources SAC.
Intellectual Property
We have not filed for any protection of our trademark for Dana Resources. We own the copyright of all of the contents of our website, www.danaresources.com.
Not Applicable.
Item 1B. Unresolved Staff Comments
None.
6
Mineral Properties
On June 3, 2008, we completed the purchase of 19 patented and unpatented base and precious metal mining properties located in the provinces of Chumbivilcas, Recuay, Piura, Huaytara, Pallasca, and Huancabamba, Peru, from SMRL Angelo XXI, a Peruvian corporation. The properties are listed in the following tables and described below. Maps of the area and comprehensive information regarding prior exploration of the properties are unavailable at this time.
Glossary:
|
Term |
Definition |
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Andes |
the world's longest exposed mountain range. They lie as a continuous chain of highland along the western coast of South America extending over seven countries: Argentina, Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela. |
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Andesitic (Andesite) |
pertaining to or containing andesite, an extrusive mineral composed dominantly of iron and magnesium. |
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Argillic |
pertaining to clay or clay minerals |
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Basalt |
a common form of extrusive volcanic rock, rich in iron and magnesium. |
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Biotite |
a common term for a silicate containing iron and magnesium. |
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Breccia |
A coarse-grained rock, composed of angular broken rock fragments held together by a mineral cement or in a fine-grained matrix; it differs from conglomerate in that the fragments have sharp edges and unworn corners. Breccia may originate as a result of the accumulation of rock fragments from cliffs or slopes, explosive igneous processes, collapse of rock material, or faulting. |
|
Calipuy Group |
a range of volcanic mountains |
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Cretaceous |
a geological period reaching from the end of the Jurassic Period (145.5 to 4 million years ago) to the beginning of the Paleocene Period (65.5 to 0.3 million years ago) |
|
Cu Au |
an alloy of copper and gold |
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Dacitic (Dacite) |
pertaining to dacite, a mineral with the same general composition as andesite, but containing more quartz. The intrusive equivalent of andesite. |
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Diolite |
a group of plutonic rocks intermediate in composition between acidic and basic, sometimes containing a small amount of quartz. |
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Extrusive |
A body of igneous rock that has crystallized from a molten magma below the surface |
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Eocene |
A geological period that extends between 55 and 34 million years ago. |
|
Epithermal Deposit |
a hydrothermal mineral deposit formed within about 1 km of the Earth's surface and in the temperature range of 50 to 200 degrees C, occurring mainly as veins. |
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Feldspar |
any of a common group of rock forming minerals making up as much as 60% of the earths crust |
|
Goethite |
a form of iron oxide also known as bog iron that is soft, spongy and porous, formed in bogs, marshes and swamps and having a yellow-ochre color. It is a source of iron and yellow ochre pigment. |
|
Granite |
a commonly occurring variety of intrusive igneous rock. |
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Granodiorite |
an intrusive igneous rock similar to granite and formed by an intrusion of quartz rich magma |
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Ground Scintillation |
a method of uranium prospecting that employs a scintillation counter, a specialized instrument for detecting the presence of radioactive minerals. |
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Gummite |
a yellow amorphous mineral composed of uranium minerals, oxides, silicates, hydrates and hydrous oxides of uranium, derived from the alteration of uraninite. It is named for its gum-like consistency. |
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Hematite |
a form of iron oxide appearing in thin tablets or flakes with a metallic steel-gray and reddish-ochre streaked appearance. |
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Hornblende |
a common dark colored non-metallic rock |
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Hydrothermal |
of or pertaining to hot water or magmatic origin. |
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Illite |
a general term for a group of three-layer clays. |
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Intrusive |
a body of igneous rock that has crystallized from a molten magma below the surface. |
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Igneous |
a body of rock that has crystallized from a molten magma. |
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Ignimbrites |
rocks formed by the widespread deposition and consolidation of ash flows. |
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Iron Oxide |
a common compound of iron and oxygen; e.g., rust. |
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Jurassic |
A geological period spanning from 145.5 to 4 million years ago. |
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Kaolinite |
a soft white oxide of aluminum formed by hydrothermal alteration of aluminum particles. |
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Lapilli |
rocks produced by explosive or aerial ejection of ash, fragments and glassy material from volcanic vents that may be either essential, accessory, or accidental in origin, of a size range that has been variously defined within the limits of 2 mm and 64 mm. The fragments may be either solidified or still viscous when they land (though some classifications restrict the term to the former) |
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Magmatic |
of, pertaining to, or derived from naturally occurring magma (molten rock generated within the Earth) |
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Magnetite |
an igneous rock having high iron content and appearing in iron ore formations. |
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Monzonite |
a common igneous intrusive rock. Quartz is a minor component (less than 10%) or is absent. Quartz monzonite contains more than 10% quartz. |
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Oligocene |
a geological period that extends between 34 million to 23 million years ago. |
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Phenocryst |
a term for large crystals or mineral grains floating in the groundmass of a porphyry. |
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Paleozoic |
a geological period spanning from roughly 542 million years ago to roughly 251 million years ago |
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Phyllitic (Phyllite) |
pertaining to phyllite, a general term for minerals with a layered crystal structure. |
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Plagioclastic (Plagioclase) |
pertaining to a plagioclase, any of a group of minerals within the feldspar family containing sodium and calcium feldspars. |
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Plutonic (Pluton) |
pertaining to a pluton, a body of medium to coarse grained igneous rock that formed beneath the surface by crystallization of a magma |
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Porphyric (Porphyry) |
pertaining to porphyry, an igneous rock of any composition that contains conspicuous phenocrysts in a fine-grained groundmass. |
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Pyroclastic |
produced by explosive or aerial ejection of ash, fragments, and glassy material from a volcanic vent. Applied to the rocks and rock layers as well as to the textures so formed. |
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Pyritic (Pyrite) |
pertaining to pyrite, a bronze to yellow colored mineral containing high quantities of sulfur, commonly known as fool’s gold or iron sulfide. |
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Quartz |
any hard gold or silver ore, as distinguished from gravel or earth. |
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Quaternary |
a geological period extending between 2 to 3 million years ago to the present. |
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Rhyolitic (Rhyolite) |
pertaining to rhyolite, a commonly occurring variety of extrusive igneous rock. |
|
Sediment |
any particulate matter that can be transported by fluid flow and which eventually is deposited as a layer of solid particles on the bed or bottom of a body of water or other liquid. |
|
Sericite |
a white, fine-grained mineral occurring as an alteration product of aluminum minerals, having a silky luster |
|
Silica/Silicate |
any of numerous insoluble often complex metal salts that contain silicon and oxygen and constitute the largest class of minerals. They are used in building materials such as cement, bricks and glass. |
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Silicification |
the introduction of, or replacement by, silica, generally resulting in the formation of fine-grained quartz, or opal, which may fill pores and replace existing minerals. |
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Tertiary |
a geological period that extends approximately 65 million to 1.8 million years ago. |
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Tectonic Pit |
a pit created by the shifting plates that form the earth’s crust |
|
Tonalitic (Tonalite) |
pertaining to tonalite, an igneous, plutonic rock generally containing more than 20% quartz. |
|
Tuff |
a type of rock formed from volcanic ash ejected from vents during a volcanic eruption and forming on mountain walls. |
7
Collota Project