GENERAL31563 - Laserfiche WebLink

Home Browse Search

1. Term of Contract The term of this contract shall be ten (10) years. which term may be eazlier terminated, extended or modified by the signed written agreement of the parties. 2. The Mill COM, INC. and MI VIDA agree as follows regarding the physical plant of the Mill: a. The Mill is can ently set up to produce both a gravity and a bulk flotation concentrate. The two types of concentrates shall be generally known as the "Concentrates". b. The current capacity of the Mill is fifty (50) tons of ore per day on a 24-hour operational basis, more or less. c. The parties reasonably expect that the Mill can be operated for minimum of twenty (20) days per calendar month, but may be operational for more extended periods, circumstances allowing. d. Both COM, INC. and MI VIDA agree that they fully understand the design, capacity, production flow sheet and operational abilities and disabilities of the Mill as the same existed on October 1. 1990. e. Both parties agree that the Mill is most efficiently operated on a continuous basis at times when ore is available for milling, but that continuous operation, though desirable, is not always possible. f. None of the statements contained in this Section 2 are intended as a warranty or guarantee. The listed statements (a)-(e) are intended to state the underlying factual assumptions agreed upon by the parties in which each has been fully advised, and as to which infonnation neither party is reliant upon the other. 3. MI VIDA Ore MI VIDA may produce certain ores for processing at the Mill (the "ore"). The ore consists of two types, as follows: a. "Dump Ore" shall be defined as ore obtained by sorting and/or hauling ore from existing mine dumps or surface stockpiles. b. "Mine Run Ore" shall be defined as ore obtained from new mining of underground ores or lifting of existing underground stockpiles. MI VIDA is currently prepazed to provide dump ore only. The parties anticipate that MI VIDA will produce mine run ore for 2