Diesel. The price for diesel used by CONTRACTOR used to set the base price per tonne of ore is US$0.52 (Fifty two cents ▇.▇.▇▇.) per liter. CONTRACTOR is therefore liable for paying the cost of diesel up to US$0.52 per liter, and it CLIENT is liable for paying the cost of diesel in excess of US$0.52 per liter. With the intention of maintaining the price of $0.52 per liter, CLIENT shall supply CONTRACTOR of its own, as of the fifth month of operations, all necessary Diesel to fulfill the production programs. Diesel shall be supplied at Site during the lifetime of this Agreement, and the Diesel factor in the escalating formula (this formula is described herein below) shall remain steady and CONTRACTOR shall be obliged to deduct 0.52 USD per liter out of the corresponding invoicing.
Appears in 2 contracts
Sources: Project Agreement (Timmins Gold Corp.), Project Agreement (Timmins Gold Acquisition Corp.)