Annual Reports and Records. By May 15 of each Contract Year, the Operator shall furnish to each of the Members a detailed report on the activities of the Company during that Contract Year, reporting the results of all Operations, including but not limited to copies of all geologic maps, drill hole analysis data, assay reports, and the Operator's recommended long-term and short-term plans. Within three months after the end of each Contract Year, the Operator shall furnish to each of the Members an annual Company financial statement, which shall include statements of income, changes in financial position, and balance sheets for the Contract Year then ended and any additional information that the Members may reasonably require.
Annual Reports and Records. Within ninety (90) days after the end of each Contract Year, the Manager shall furnish to each of the Parties: (a) a detailed report on the activities of the Joint Venture during that Contract Year, reporting the results of all Operations; and (b) an annual Joint Venture financial statement, which shall include statements of income, cash flow and balance sheets prepared in conformity with generally accepted accounting principles (consistently applied) for the Contract Year then ended and any additional information that the Parties may reasonably require.
Annual Reports and Records
