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• 3.1.3 Project Activies <br />On January 13, 1992, BLM approval was received to pay a minimum royalty in <br />lieu of production on the three non-operating leases. On June 29, 1992 results of <br />the belt scale/truck scale calibration were submitted to the BLM. An adjustment in <br />inventory was made based on the results. A Sodium Unit Agreement for WRNM's <br />four sodium leases was approved by the BLM on December 29, 1992. <br />A Joint Venture agreement was signed on November 19, 1992 between NaTec <br />Minerals, Inc. and North American Chemical Co. to form White River Nahcolite <br />Minerals, Ltd. Liability Co. All permits, ROW's and leases were transferred to <br />WRNM. Sodium lease transfers were effective as of November 1, 1992. <br />• 3.1.4 1992 Production Summary <br />Production <br /> Beginning to Storage Ending <br />Month Inventorv Dome Adjust Sales Inventorv <br />NATEC <br />January 400 0 280 120 <br />February 120 1,013 373 761 <br />March 761 1,816 707 1,870 <br />April 1,870 1,896 1,990 1, 776 <br />May 1,776 1,751 2,400 1,127 <br />June 1,127 1,706 463' 2,032 1,264 <br />July 1,264 3,021 1,258 3,027 <br />August 3,027 0 807 2.220 <br />September 2,220 323 1,950 594 <br />October 594 2,692 2,339 947 <br />November 947 1,834 19'• 2,800 0"' <br /> <br />7 <br />