Common use of ASSAYING Clause in Contracts

ASSAYING. Assays shall be made independently by each party and in the event of greater difference in assay exchange than contractually agreed, an umpire assay shall be made by an umpire laboratory rotating lab for each quota, which shall be one of the following, except for the silica to be exchanged by general composite, but in any event not later than 45 (forty‑five) calendar days after the assay samples are sealed and sent to the respective parties. Such date shall be calculated starting after the sealing date of the last composite sample of the monthly quota. In the event that assays have not been exchanged by the 45th (forty-fifth) day after samples were sealed and sent to the respective parties, then the party which is ready to exchange assays shall notify the other party by fax or email that it is ready to exchange assays. If the other party does not respond within 15 (fifteen) calendar days then the assay results of the party which was ready to exchange its assay results shall be final and binding, save for fraud or manifest error. Should the difference between the results of both parties be not more than: Zinc 0.5% Silver 30 g/dmt Gold 0.5 g/dmt Fluorine 50 ppm Chlorine 10 ppm CONTRATON 103-16CMX-012-0-P (LA) 6 Classified as: PRIVATE AND CONFIDENTIAL ▇▇. ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇ OFICINA 2102, COL ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇.▇., ▇.▇. ▇▇▇▇▇ TEL ▇▇▇▇▇▇▇▇ FAX ▇▇▇▇▇▇▇▇ SiO2 0.5% Cadmium 0.1% Then the exact mean of the two results shall be taken as the agreed assay for the purpose of final accounting In the event of greater difference in assay exchange than contractually agreed, an umpire assay shall be made by an umpire laboratory to be mutually agreed between Buyer and Seller, which shall be one of the following: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Grange Prescot Road St. Helens Merseyside WA10 3BQ England Caddick Road Knowsley Business Park Merseyside L34 9HP England Mineral Services ▇▇▇▇▇▇▇▇▇ ▇▇ /▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇ /▇▇▇▇ ▇▇ Spijkenisse The Netherlands Should the umpire assay fall between the results of the two parties, then the arithmetical mean of the umpire assay and the assay of the party whose results are nearer to the umpire’s shall be taken as the agreed assay. Should the umpire assay fall outside the exchanged results, the middle of the 3 (three) results shall be final. If the umpire results coincides with either of the two parties or is the exact mean of the exchanged result, the umpire assay shall be final. CONTRATON 103-16CMX-012-0-P (LA) 7 Classified as: PRIVATE AND CONFIDENTIAL ▇▇. ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇ OFICINA 2102, COL ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇.▇., ▇.▇. ▇▇▇▇▇ TEL ▇▇▇▇▇▇▇▇ FAX ▇▇▇▇▇▇▇▇ The cost of the umpire assay shall be borne by the party whose result is farthest from the umpire result. The cost of the umpire assay shall be borne equally by both parties when the umpire assay is the exact mean of the exchanged results. The silver and gold assay shall be determined adjusted for cupel and absorption and slag loss.

ASSAYING. Assays shall be made independently by each party and the results of such assays shall exchanged on a lot­ by-lot basis for all payable and penalty elements on a mutually agreed date in the event of greater difference in assay exchange than contractually agreed, an umpire umpired assay shall be made by an umpire laboratory rotating lab for each quota, which shall be one of the following, except for the silica to be exchanged by general composite, but in any event not later than 45 forty-five (forty‑five45) calendar days after the assay samples are sealed and sent to the respective parties. Such date shall be calculated starting after the sealing date of the last composite sample of the monthly quota. In the event of greater difference in assay exchange than contractually agreed, an umpire assay shall be made by an umpire laboratory rotating lab for each quota. In the event that assays have not been exchanged by the 45th (forty-fifth) day after samples were sealed and sent to the respective parties, then the party which is ready to exchange assays shall notify the other party by fax or email that it is ready to exchange assays. If the other party does not respond within 15 (fifteen) calendar days then the assay results of the party which was ready to exchange its assay results shall be final and binding, save for fraud or manifest error. Should the difference between the results of both parties be not more than: Zinc 0.5% Silver 30 g/dmt Gold 0.5 g/dmt Fluorine 50 ppm Chlorine 10 ppm CONTRATON 103303-16CMX-01216CMX-011-0-P (LA) 6 Classified as: PRIVATE AND CONFIDENTIAL ▇▇. ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇ OFICINA 2102, COL COL. ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇.▇., ▇.▇. ▇▇▇▇▇ TEL ▇▇▇▇▇▇▇▇ FAX ▇▇▇▇▇▇▇▇ SiO2 Should the difference between the results of both parties be not more than: Copper 0.5% Cadmium 0.1Silver 100 g/dmt Gold 1.5 g/dmt Lead: 0.3 % Zinc: 0.3 % Arsenic: 0.1 % Antimony: 0.1 % Then the exact mean of the two results shall be taken as the agreed assay for the purpose of final accounting In the event of greater difference in assay exchange than contractually agreed, an umpire assay shall be made by an umpire laboratory to be mutually agreed between Buyer and Seller, which shall be one of the following: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Grange Prescot Road St. Helens Merseyside WA10 3BQ England Caddick Road Knowsley Business Park Merseyside L34 9HP England Mineral Services ▇▇▇▇▇▇▇▇▇ ▇▇ /▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇ /▇▇▇▇ ▇▇ Spijkenisse The Netherlands CONTRATON 303-16CMX-011-0-P (LA) 7 Classified as: PRIVATE AND CONFIDENTIAL ▇▇. ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇ OFICINA 2102, COL. ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇.▇., ▇.▇. ▇▇▇▇▇ TEL ▇▇▇▇▇▇▇▇ FAX ▇▇▇▇▇▇▇▇ Should the umpire assay fall between the results of the two parties, then the arithmetical mean of the umpire assay and the assay of the party whose results are nearer to the umpire’s shall be taken as the agreed assay. Should the umpire assay fall outside the exchanged results, the middle of the 3 (three) results shall be final. If the umpire results coincides with either of the two parties or is the exact mean of the exchanged result, the umpire assay shall be final. CONTRATON 103-16CMX-012-0-P (LA) 7 Classified as: PRIVATE AND CONFIDENTIAL ▇▇. ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇ OFICINA 2102, COL ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇.▇., ▇.▇. ▇▇▇▇▇ TEL ▇▇▇▇▇▇▇▇ FAX ▇▇▇▇▇▇▇▇ The cost of the umpire assay shall be borne by the party whose result is farthest from the umpire result. The cost of the umpire assay shall be borne equally by both parties when the umpire assay is the exact mean of the exchanged results. The silver and gold assay shall be determined adjusted for cupel and absorption and slag loss.