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GENERAL31563
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GENERAL31563
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Last modified
8/24/2016 7:54:38 PM
Creation date
11/23/2007 7:02:16 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1983141
IBM Index Class Name
General Documents
Doc Date
2/13/1991
Doc Name
MILLING CONTRACT
Media Type
D
Archive
No
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<br />f. The Mill shall continue milling MI VIDA ore until such time as <br />MI VIDA ore in the bins of the mill or stockpiled for loading into the <br />bins is exhausted and fully processed into concentrated form. <br />g. With the priority notice that milling of MI VIDA ores is to <br />commence, MI VIDA shall deliver to COM, INC. a fully completed <br />milling specification sheet in the form attached as Exhibit B hereto. <br />h. COM, INC. shall manage the milling of MI VIDA ores so as to <br />conform its milling process to the specifications contained in the <br />milling specification sheet within the tolerances generally accepted in <br />.QS <br />the milling industry. 7l ~~ <br />i. COM, INC. shall continuously maintain running logs of its 5~ <br />monitoring of the milling process and MI VIDA shall have such °~`~,,ra"" <br />inspection rights as are further delineated in the Agreement. ``~v .~' <br />Milling Charge ~ ~-W"~ <br />a. The charge for milling services (the "milling charge") shall be ~`j j ' <br />thirty dollars ($30.00) per ton milled (the "base charge") plus the <br />percentage of modified net smelter returns (the "grade surcharge") as <br />defined in Section 6 hereof. <br />b. The base charges shall be payable as follows: <br />(1) Fifteen Dollars ($15.00) per ton shall be payable to <br />COM, INC. by MI VIDA at the time of delivery of priority notice per <br />Section 4.b. that ore is to be delivered to the Mill's coarse ore bins <br />(the "initial payment"). Supplemental initial payments shall be made <br />by MI VIDA to COM, INC. within two (2) worWng days after the <br />delivery of ore additional to that ore scheduled in the priority notice <br />to the coarse ore bins while milling is in progress based on a priority <br />notice estimate of tonnage delivered. COM, INC. shall maintain a log of <br />the initial payments and estimated tonnages and shall notify MI VIDA <br />withtn a reasonable time of any deficiency noted pursuant to <br />subsection b(2) below. <br />(2) The actual weight of ore milled (which shall be the <br />"wet" weight of delivered ore) shall be determined by the cumulative <br />belt scale meter (the "belt scale") currently installed on the conveyor <br />belt between the fine ore bin and the ball mill at the Mill. At no time <br />shall the initial charge paid by MI VIDA be less than the number of <br />tons weighed in on the belt scale plus the number of tons in the <br />4 <br />
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