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Lessor will be paid a haulage and usage royalty on all ore mined and milled by Energy <br /> Fuels from the Utah State Lease Section 16, Township 25 North, Range 26 East (hereinafter <br /> referred to as the "Utah Lease") to the extent such ores are removed through or across the <br /> Subject Properties. The haulage and usage royalty will be of the gross value of <br /> U308 and V205 recovered at the mill from the Utah Lease on U30g values up to <br /> Dollar's IM per pound and on V205 values up to ollars ( ) per pound. Such <br /> haulage and usage royalty shall be on the U308 gross value above Seventy- <br /> Five Dollars(IIW per pound and on the V205 gross value above Twenty Dollars per <br /> pound. <br /> If after this Agreement expires or terminates, Energy Fuels is exploring, mining or <br /> developing properties adjoining any of the Subject Properties, and as long as the royalties <br /> described in this Paragraph 6 are paid to Lessor, Energy Fuels may use the Subject Properties <br /> and any roads, shafts or haulage ways thereon or thereunder for ingress and egress reasonably <br /> necessary to explore, develop or mine such adjoining properties. This provision for ingress and <br /> egress to and from such adjoining properties shall survive the expiration or termination of this <br /> Agreement. After said expiration or termination, Energy Fuels shall not have any rights with <br /> regard to the Subject Properties except for the rights of ingress and egress to and from adjoining <br /> properties. <br /> 7. Mariner of Work. Energy Fuels agrees to conduct all of its operations hereunder <br /> in a careful and miner-like manner and in compliance with all applicable laws and regulations of <br /> the United States and the States of Colorado and Utah. <br /> 8. Advance Royalties.Upon the execution of this Agreement, Energy Fuels will pay <br /> to Lessor the sum of ), of which <br /> ) has been paid upon the execution of the Option to Lease the Subject <br /> Properties.The balance of the will be paid as follows: <br /> a. by the delivery to Lessor <br /> capital stock of Energy Fuels' parent company Energy Fuels Inc. equal to such payment as <br /> determined by the average of closing values of the stock on the Toronto Stock Exchange for the <br /> five (5)trading days prior to September 1,2006, (the execution date of the Option Agreement), <br /> with the balance of the advance royalty of � ) <br /> 4 <br />