EXPLORATION PROGRAMS. 7.1 The Operator shall prepare draft Programs for consideration by the Management Committee. Unless otherwise agreed to by a Special Majority, each Program shall cover a calendar year. The draft Program shall contain a statement in reasonable detail of the proposed Mining Operations, estimates of all Exploration Costs to be incurred and an estimate of the time when they will be incurred, and shall be delivered to each Participant by no later than 60 days prior to the period to which the draft Program relates. Each draft Program shall be accompanied by such reports and data as are reasonably necessary for each party to evaluate and assess the results from the Program for the then current year and, to the extent not previously delivered, from earlier Programs.
Appears in 3 contracts
Samples: Mining Option Agreement (Coastal Pacific Mining Corp), An Agreement (Pana-Minerales S.A.), Mining Option Agreement (Amador Gold Corp)
EXPLORATION PROGRAMS. 7.1 4.01 The Operator shall prepare draft Programs for consideration by the Management CommitteeOptionee. Unless otherwise agreed to by a Special Majoritythe Optionee, each Program shall cover a calendar year. The draft Program shall contain a statement in reasonable detail of the proposed Mining Operations, estimates of all Exploration Costs to be incurred and an estimate of the time when they will be incurred, and shall be delivered to each Participant the Optionee by no later than 60 days prior to the period March 1st of each year to which the draft Program relates. Each draft Program shall be accompanied by such reports and data as are reasonably necessary for each party the Optionee to evaluate and assess the results from the Program for the then current year and, to the extent not previously delivered, from earlier Programs.
Appears in 3 contracts
Samples: Mining Option Agreement (Coastal Pacific Mining Corp), Mining Option Agreement (Coastal Pacific Mining Corp), An Agreement (Pana-Minerales S.A.)
EXPLORATION PROGRAMS. 7.1 4.01 The Operator shall prepare draft Programs for consideration by the Management CommitteeOptionee. Unless otherwise agreed to by a Special Majoritythe Optionee, each Program shall cover a calendar year. The draft Program shall contain a statement in reasonable detail of the proposed Mining Operations, estimates of all Exploration Costs to be incurred and an estimate of the time when they will be incurred, and shall be delivered to each Participant the Optionee by no later than 60 days prior to the period May 1st of each year to which the draft Program relates. Each draft Program shall be accompanied by such reports and data as are reasonably necessary for each party the Optionee to evaluate and assess the results from the Program for the then current year and, to the extent not previously delivered, from earlier Programs.
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