Laserfiche WebLink
1 <br />' The subtraction of 15 tons as provided for at 6(c) and 6(d) above <br />shall not be made for any smelter shipment lot at the end of a run of a <br />milling lot when the ores in the mill circuit have been fully processed <br />' and the circuit flushed as provided herein. <br />e. The grade surcharge percentage shall be assessed and paid <br />' based upon the average feed grade as determined at (c) above, as <br />follows: <br />' Percentage of Modified Average Ore Grade in <br />Net Smelter Returns Gold Equivalent <br />to COM. INC. Ounces <br />' 10% .20 or less <br /> 9% > .20 to .40 <br />' 8% > .40 to .60 <br />7°h > .60 to .80 <br /> 6% > .80 to .99 <br /> 5% > 1.0 or more <br />' Grade shall be determined to the second decimal place by <br /> rounding .005 or higher up, and .0049 or lower down. <br /> <br /> f. For the purposes of this Agreement, the components (c) and <br /> (d) used in the formula provided at subsection (d) shall be as follows: <br />' <br /> c =presumed cost of milling = $30 <br /> d =presumed cost of m;n;ng - $10 for Dump Ore; and <br />' $150 for Mine Run Ore <br /> g. Any savings accruing to either party by performing mining or <br /> milling at lesser costs shall accrue to them. Any burden to either <br />' party of experiencing greater costs of mining or milling shall accrue to <br />' them alone, the parties having agreed to the presumed costs con- <br />h <br />A <br />t <br /> is <br />greemen <br />. <br />tained in t <br /> h. Unless otherwise agreed by the parties in writing, the <br />' presumed cost of mining and the presumed cost of milling shall be as <br /> provided in subsection 6(fl for the term hereof. <br />' i. The grade surcharge shall be paid within ten (10) days after <br /> receipt of the final smelter settlement. <br />' 7. Access to Tailings Pond and Certain Water Rights <br />J a. MI v1DA is the record owner of certain lands, water vessels <br /> and water storage rights as listed on Exhibit C hereto. MI VIDA has <br /> stored certain of its water in the mines listed on Exhibit C hereto. <br />y <br />