Almaden definition

Almaden means Almaden Minerals Ltd., a company incorporated under the laws of the Province of British Columbia;
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Almaden means Almaden Minerals Ltd. a British Columbia corporation that is an Optionor and party to this Agreement.
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Almaden or the “Borrower”; TSX: AMM; NYSE American: AAU) has entered into a secured gold loan agreement (“Gold Loan”) with Almadex Minerals Ltd. (“Almadex” or the “Lender”; TSX.V: DEX) pursuant to which Almadex has agreed to loan up to 1,597 ounces of gold to Almaden. The approximate value of this gold is US$2 million. Under the terms of the Gold Loan, Xxxxxxx will be entitled to draw-down the gold in minimum 400 oz tranches. At any given time, the amount of gold ounces drawn multiplied by the London Bullion Market Association (“LBMA”) AM gold price in U.S. dollars, plus any accrued interest or unpaid fees, shall constitute the Loan Value. The maturity date for the Gold Loan is March 31, 2024, and can be extended by two years at the discretion of the Borrower (the “Term”). Repayment of the Loan Value shall be made either through delivery of that amount of gold drawn, or through the issuance of shares of the Borrower (“Shares”), according to the Lender’s preference. Mandatory prepayment shall be required in the event that the Borrower’s Ixtaca gold-silver project located in Puebla State, Mexico (the “Ixtaca Project”) enters into commercial production during the Term, requiring the Borrower to deliver 100 gold ounces per month to the Lender. In addition, the Borrower has the right to pre-pay the Loan Value at any time without penalty, in either gold or Shares as chosen by the Lender, and the Lender has the right to convert the Loan Value into Shares at any time during the Term. The interest rate of the Gold Loan is 10% of the Loan Value per annum, paid in arrears. Interest payments can either be accrued to the Loan Value, or paid by the Borrower in cash or gold. A standby fee of 1% per annum shall apply to any undrawn amount on the Gold Loan. In addition, Xxxxxxx has agreed to issue Almadex 500,000 transferable share purchase warrants (“Warrants”), with an exercise price of CAD$1.50 per Share and expiry date of May 14, 2024 as an arrangement fee. Security for the loan is certain equipment related to the Rock Creek Mill (see Almaden press release of October 19, 2015), which is not required for the Ixtaca Project. The Gold Loan includes industry standard provisions in the event of default, material breach and change of control. The Toronto Stock Exchange (the “TSX”) has conditionally approved the listing of the common shares issuable upon exercise of the Warrants, and the Shares issuable pursuant to the Gold Loan. The listing is subject to Xxxxxxx fulfilling all of th...
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Examples of Almaden in a sentence

  • Freegold holds a 100% lease interest in the Almaden gold project in Idaho.

  • I have reviewed the interim financial report and interim MD&A (together, the “interim filings”), of Almaden Minerals Ltd.

  • Almaden owns a 50% interest in this company which holds title in trust for a mineral property.

  • Almaden employs a maximum sample length of 2 to 3m in unmineralized lithologies, and a maximum sample length of 1m in mineralized lithologies.

  • The Company now owns a 100% interest in the Almaden Property, subject to underlying lease agreements.

  • Non-Reportable Funds that are held direct with the Fund Company do not need to be reported.

  • Since that time, Almaden has had agreements to develop the property with three separate parties, all of whom relinquished all rights to the property and none of whom conducted work on the Ixtaca zone.

  • I have reviewed the AIF, if any, annual financial statements and annual MD&A, including, for greater certainty, all documents and information that are incorporated by reference in the AIF (together, the “annual filings”) of Almaden Minerals Ltd.

  • In addition to the in-house QAQC measures employed by Almaden, Kris Raffle, P.Geo.

  • In consideration, Goldgroup paid to Almaden cash consideration of US$2.5 million and issued 7 million of its common shares.


More Definitions of Almaden

Almaden means Almaden Minerals Ltd.;
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Almaden means Almaden Minerals Ltd, a company duly formed and existing under the laws of the Canada and a Party to this LOI;
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Related to Almaden

  • Pioneer or the "Company" means Pioneer Natural Resources Company and its subsidiaries.

  • Bay means parking bay;

  • SADC means the Southern African Development Community;

  • Salmon means Pacific Salmon of the species Oncorhynchus nerka including sockeye; Oncorhynchus kisutch including coho; Oncorhynchus gorbuscha including pink; Oncorhynchus keta including chum; and Oncorhynchus tshawytcha including chinook; anadromous whitefish and cisco (Coregonidae spp.); and anadromous Arctic char (Salvelinus alpinus).

  • Forest means an area of land defined by the minimum values for area size, tree crown cover or an equivalent stocking level, and potential tree height at maturity at the place of growth of the trees as specified for each Member State in Annex II. It includes areas with trees, including groups of growing, young, natural trees, or plantations that have yet to reach the minimum values for tree crown cover or an equivalent stocking level or minimum tree height as specified in Annex II, including any area that normally forms part of the forest area but on which there are temporarily no trees as a result of human intervention, such as harvesting, or as a result of natural causes, but which area can be expected to revert to forest;

  • Heritage means Heritage Bancorp Ltd.

  • Spring means a source of water where an aquifer comes in contact with the ground surface.

  • Foothill means Foothill Capital Corporation, a California corporation.

  • CREST means the system for the paperless settlement of trades and the holding of uncertificated securities operated by EUI in accordance with the Uncertificated Regulations, as amended from time to time.

  • ST means Sales Tax

  • Phoenix has the meaning assigned to it in the introductory paragraph hereof.