Committee Reports > List of Committees > Dáil > 1936 > Select Committee on Mining Rights > Interim and Final Report - Demise of Certain Mining Rights

APPENDIX II.

AGREEMENT FOR A SUB-LEASE MADE BETWEEN MR. M. E. HEISER OF THE ONE PART AND SENATOR COMYN AND DEPUTY BRISCOE OF THE OTHER PART.

12th March, 1935.

R. Briscoe, Esq.,

Balure,

Ballybrack,

County Dublin.

Michael Comyn, Esq., K.C.,

9 Northbrook Road,

Dublin.

Dear Sirs,

Referring to our different conversations, I now submit the following proposal to you as the Lessees of a Lease, dated 1st November, 1934, and made between the Minister for Industry and Commerce, Saorstát Eireann of the one part, the Minister of Finance, Saorstát Eireann of the second part and yourselves of the third part of the mineral rights of part of the townlands of Ballintemple, Coolgarrow and Clonwilliam, County Wicklow, containing 982 acres, 3 roods and 36 perches or thereabouts.

(1) You are, subject to the consent in writing of the Minister of Industry and Commerce being first had and obtained, to grant to Risberget Ltd., of 39a Maddox Street, Hanover Square, London, or its nominee, a sub-lease or licence to work the mineral substances of the lands demised by the above-mentioned Lease for a term of ninety-seven years from the 15th day of March, 1935, at a rent of Ten Pounds per annum and subject to a Royalty of 6¼ per cent. The other terms to be similar to those contained in your Lease so far as same may be applicable to the sub-lease.

(2) You are also at the request and expense of Risberget Ltd., or their nominee or nominees to do all acts which on your part may be necessary for completing the Lease to you of the mines and minerals in the six other townlands in the County of Wicklow included in your application, viz., Kilcarragh West, Rostygah, Monologh, Mongan, Knock-miller, Ballinvalley Lower, approximately 2,000 acres, and the foreshore of Arklow, but it is understood that in case the Minister of Industry and Commerce or the Minister of Finance makes any objection to the granting of said Lease or refuses to grant same you are not to be under any liability to Risberget Ltd., in respect thereof, and in case said Lease is granted you are subject to the consent in writing of the Minister of Industry and Commerce being first had and obtained to grant to Risberget Ltd., a sub-lease of the mines and minerals in said townlands for such term not exceeding the residue of the term in said lease as Risberget Ltd., may require subject to the Dead Rent in said Lease and the Royalty of 6¼ per cent. or 2¼ per cent. over and above the Royalty reserved in said lease whichever shall be the greater and subject to such conditions in said Lease as may be applicable to a sub-lease.

(3)You are also at the request and expense of Risberget Ltd., to do all acts which on your part may be necessary for obtaining a Lease or Leases of the mines and minerals in any other townlands in the County of Wicklow in respect of which you or either of you may have made application for a lease or licence, but it is understood that in case the Minister of Industry or the Minister of Finance shall object or refuse to—— (line missing in original deed) either of you to be under any liability to Risberget Ltd., in respect thereof, and in case such lease or licence is granted you are subject to the consent in writing of the Minister of Industry and Commerce first had and obtained to grant to Risberget Ltd., or their nominees a sub-lease of the mines and minerals in said townlands for such term not exceeding the residue of the term of said lease as Risberget Ltd., may require subject to the Dead Rent in said Lease and the Royalty of 6¼ per cent. or 2¼ per cent. over and above the Royalty reserved in said lease whichever shall be the higher and subject to such conditions in said Lease as shall be applicable to a sub-lease.

(4)I undertake to form a Company to be called the Consolidated Goldfields of Ireland Limited, or some other name, to be substituted therefor with paid up capital of not less than £80,000 with the object of working the mineral substances of the said lands comprised in the said Lease and all other lands in the County Wicklow which may hereafter be acquired by you, under paragraphs 2 and 3 hereof.

(5)You are to be allotted 48,000 five shilling fully paid up shares in such Company in consideration for the granting of the sub-lease and of your obligations under paragraph 2 and 3 hereof.

(6)From and after the 15th March, 1935, I agree to take over the working of the several properties in County Wicklow and to employ within the first two months not less than four men; within the next two months not less than six men and during the last two months not less than eight men and within six months to have the first unit in operation.

(7)As evidence of good faith I agree to hand to you a Guarantee Bond for £500 payable to you at the expiration of six months from 15th March, 1935, conditional upon default in the carrying out of the obligations contained in No. 6.

(8)The Bond referred to in 7 hereof to be a Guarantee Bond of an Insurance Company approved by you and to be completed on or before the 30th day of March next; failure to produce the said Bond to render the above of no effect.

(9)Three signed copies of the Agreement have been left with M. McGrath, Solicitor, 15 Kildare Street, Dublin, on trust whereof two copies are to be handed to me or Risberget Ltd., in exchange for the said Bond and the third copy to be given to you.

Managing Director,

Risberget Ltd.

We accept the above.

(Sd.) MICHAEL COMYN.

(Sd.) ROBERT BRISCOE.

Witness:

(Sd.) MORRIS MacGRATH,