Common use of Inventories and Stockpiles Clause in Contracts

Inventories and Stockpiles. Payer shall include in all monthly statements a description of the quantity and quality of any gold or silver dore that has been retained as inventory for more than ninety (90) days. Recipient shall have thirty (30) calendar days after receipt of the statement to either: (a) elect that the dore be deemed sold, with Gross _Value to -belletermined as. provided. by Sections...1.2_1 (b) for gold and. 1.2.2(b) as... - of such thirtieth (30th) day utilizing the mine weights and assays for such dore and utilizing a reasonable recovery rate for refined metal and reasonable deemed charges for all deductions specified in Section 1.6 above, or (b) elect to wait until such time as the royalty payment otherwise would become payable pursuant to Sections 1.2.1 (b) and 1.2.2(b). The Recipient's failure to respond within such time shall be deemed to be an election to use the methods described in Sections 1.2.1(b) and 1.2.2(b). No royalty payments shall be due regarding stockpiles of other Minerals, concentrates or ores unless and until such Minerals, concentrates or ores are actually sold.

Inventories and Stockpiles. Payer Lessee shall include in all monthly statements a description of the quantity and quality of any gold or silver dore that has been retained as inventory for more than ninety (90) days. Recipient Owner shall have thirty (30) calendar days after receipt of the statement to either: (a) elect that the dore be deemed sold, with Gross _Value to -belletermined as. provided. by Sections...1.2_1 (b) for gold and. be determined as provided in Sections 1.2.1(b), with respect to gold, and 1.2.2(b) as... - Error! Reference source not found., with respect to silver, as of such thirtieth (30th) day utilizing the mine weights and assays for such dore and utilizing a reasonable recovery rate for refined metal and reasonable deemed charges for all deductions specified in Section 1.6 1.81.71.8 above, or (b) elect to wait until such time as the royalty payment Royalties otherwise would become payable pursuant to Sections 1.2.1 (bsections 1.2.1(b) and 1.2.2(b1.2.2 9b). The Recipient's failure of Owner to respond within such time shall be deemed to be an election to use the methods described in Sections 1.2.1(b) and 1.2.2(b). No royalty payments Net Smelter Returns Royalty shall be due regarding with respect to stockpiles of other Minerals, ores or concentrates or ores unless and until such Minerals, ores or concentrates or ores are actually sold.