BCFM definition

BCFM means the Project’s base case financial model as and when prepared and approved by the Board and included in the Pre-Feasibility Study and as may be amended in accordance with this Agreement.
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BCFM means the Borrower’s life of mine base case financial model for the Project based as included in the Definitive Feasibility Study, and as further updated as provided for herein, and which details, on a Fiscal Quarter basis: (a) Project physicals including (i) gold tonnes mined; (ii) grade of ore mined; (iii) ore tonnes and grade processed; (iv) metallurgical recoveries and gold produced; (b) Project-level expenses including (i) net working capital; (ii) operating and capital costs (including any estimated contingency amounts); (iii) administration costs; (iv) Taxes payable, government charges and royalties; (c) Project general and administrative expenses; (d) Project setup costs; (e) sustainability for Eskay Creek general and administrative expenses; (f) payments to Indigenous Groups; (g) corporate general and administrative expenses; (h) Project Revenue and cash flows; (i) expenses, including (i) the Stream Agreement; (ii) administration costs; and (iii) Taxes payable; (j) cash flows, including (i) drawdown requirements; (ii) interest and principal repayments; and (k) calculation of the financial covenants set forth in Section 6.13.1.
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BCFM means the Borrower’s life of mine base case financial model, in form and substance satisfactory to the Administrative Agent, based on the Construction Budget, Project Schedule and Mine Plan, to be delivered pursuant to Section 8.2.4, which will detail: (a) Project physicals including (i) gold tonnes mined; (ii) grade of ore mined; (iii) ore tonnes and grade processed; (iv) metallurgical recoveries and gold produced; (b) Project-level expenses including (i) net working capital; (ii) operating and capital costs (including any estimated contingency amounts (but excluding estimated capital cost escalations)); (iii) administration costs; (iv) taxes payable, government charges and royalties; (c) Project cash flows; (d) Borrower-level expenses, including (i) hedge settlements; (ii) administration costs; and (iii) taxes payable; (e) Facility cash flows, including (i) drawdown requirements; and (ii) interest and principal repayments; and (f) calculation of the financial covenants set forth in Section 6.13. The BCFM may be updated from time to time in accordance with Section 6.1.10 or otherwise as permitted in accordance with Section 6.14.20.
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Examples of BCFM in a sentence

  • The statements of opinion or belief, projections and forecasts in the then current Pre-FID Budget, BCFM, Construction Budget and Project Schedule and the assumptions on which they are based and the values given to those assumptions, were arrived at in good faith by the Borrower, after due and careful consideration and enquiry and based on reasonable grounds at the time made, and were fair and reasonable in the circumstances prevailing at the time of preparation.

  • There are no pending or, to the knowledge of the Borrower or the Guarantors, proposed changes to Applicable Laws that would render illegal or materially restrict the development and construction of the Project or the conduct of operations at the Project, each as currently contemplated by the BCFM or the Pre-FID Budget, as applicable.

  • Following the delivery thereof, the Borrower shall update the BCFM on an annual basis to reflect revised projections, including the Mine Plan, recoveries, production forecasts, Capital Expenditures and Operating Costs, and provide the Administrative Agent and the Lenders an updated copy of the BCFM promptly thereafter.

  • To the extent delivered, the then current Pre-FID Budget, BCFM, Construction Budget and Project Schedule delivered to the Administrative Agent from time to time, including as conditions precedent to make each Subsequent Advance in accordance with the terms of this Agreement are true, correct and completed copies which have been prepared in accordance with the requirements of this Agreement.