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2007-06-21_REVISION - M1982020
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2007-06-21_REVISION - M1982020
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Entry Properties
Last modified
6/16/2021 2:16:04 PM
Creation date
11/21/2007 11:28:53 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1982020
IBM Index Class Name
Revision
Doc Date
6/21/2007
Doc Name
Lease Agreement
From
Elmo Nossaman
To
DRMS
Type & Sequence
SO1
Media Type
D
Archive
No
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MILLING AGREEMENT <br />This Milling Agreement ("Agreement"), effective as of the 1st Day <br />of June,2007 is between Elmo Nossaman, doing business as <br />Sooner Lucky Strike Mine, Ltd.("SLSM"), Six Mile <br />Road, Gunnison, Co. and Rhino Mining, LLC. a Wyoming Limited Liability <br />Company ("RM") whose address is P.O. Box 424, 338 Eaton AVE, <br />Cripple Creek, Colorado 80813. SLSM hereby exclusively Leases its <br />property ("Property"), including building and equipment,: to RM for its <br />milling of ore. <br />RM and SLSM agree to allow RM to Lease the Lucky Strike Mill located <br />in Gunnison County, Colorado to mill gold ore that w 11 be hauled in <br />from the Little Hope Mine in Cripple Creek, Colorado: <br />NOW, THEREFORE, in consideration of TEX DOLLARS ($10.00) paid to <br />SLSM, the receipt and sufficiency of which are acknowledged by SLSM, <br />a further in consideration of the Lease to be paid, and the mutual <br />covenants and conditions contained in this Agreement, the parties agree as <br />follows: <br />1. TERM <br />The term of the agreement is one year. The agreement begins as of the <br />date RN• certifies that it is receiving ore from its source of ore, <br />but no later than July 1,2007. RM reserves the right to operate <br />the mill around the clock, seven (7) days a week. RM also reserves <br />the right to unilaterally extend the term of this lease by an <br />additional year, under the same terms and conditions outlined herein. <br />Futher extensions will require the written agreement of both parties. <br />II. LEASE <br />SLSM, exclusively Leases the Property to RM, together with all <br />appurtenances incident to the Property and all improvements and <br />personal property on the Property (the "Lease"). <br />III. LEASE PAYMENTS <br />In consideration of the mutual promises set forth herein, RM covenants <br />to pay SLSM a rate of $15.00 per dry ton or $10,000.00 a month <br />(whichever is greater) for the ore milled in the Mill. This <br />payment will be made on the last business day of the month <br />following the month in which the ore was milled. For example, <br />payment for ore milled in April will be due on the last. business day <br />of May. Tonnage will be calculated by measurment of the "tailings <br />discharge rate" and the dry solids by weight contained in the tailings <br />discharge using a pulp density bucket and scale. <br />
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