Development Feasibility Study definition

Development Feasibility Study means a study prepared by an international engineering firm within the standard practices of the international mining industry in accordance with Good Mining Practice, which contains a detailed examination of the feasibility of bringing a deposit of Minerals in the License Area into commercial production by the establishment of a mine, and which includes a review of all relevant issues related thereto, a statement of the ore reserves, a description of the nature and scale of the proposed operation, an estimate of the construction and production costs and a timetable for construction, and which is in form and substance appropriate for presentation to a bank or other financial institution from which financing may potentially be sought for the Project.
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Examples of Development Feasibility Study in a sentence

  • The Management Committee may at any time, upon receipt of a proposal from the General Director authorize preparation of the Development Feasibility Study and make provisions in respect thereof in the relevant Annual Program and Budget.

  • Promptly after completion of the final Development Feasibility Study approved by the Management Committee, the General Director shall, based on and consistently with, such Development Feasibility Study, prepare a Development Program and Budget and the First Development Annual Program and Budget.

  • Notwithstanding the foregoing, the Project Company and/or Pan American shall coordinate the Development Feasibility Study for the Project during the Initial Production Period and thereafter.

  • Promptly after completion of the Development Feasibility Study the General Director shall, based on and consistently with, such Development Feasibility Study, prepare Development Program and Budget and the First Development Annual Program and Budget.

  • The so prepared Development Feasibility Study, Development Program and Budget and the First Development Annual Program and Budget, which may include work plans and budgets for exploration and delineation of additional resources in the License Area, together shall constitute the “Development Documentation”.

  • The Management Committee may authorize additional work plans and budgets for exploration and delineation of additional resources in the License Area it determines is necessary to prepare the final Development Feasibility Study.

  • VNC's contribution of 49% of all joint venture expenditures up to a maximum of two million dollars ($2,000,000.00), shall maintain VNC's 49% interest in the joint venture until completion of the Development Feasibility Study.

  • The so prepared Development Feasibility Study, Development Program and Budget and the First Development Annual Program and Budget together shall constitute the “Development Documentation”.

  • During the Initial Production Period and thereafter, all development and feasibility efforts and operation activities relating in any way to the Project (except for the operation of the Pilot Project), including, without limitation, coordination and conduct of the Development Feasibility Study, shall be carried out by Pan American and/or the Project Company.

  • For purposes of calculating the parties' participating interests in the joint venture and for calculation of dilution after completion of a Development Feasibility Study, VNC's basis in the joint venture shall be the greater of (1) VNC's actual contributions; or (2) 49% of the actual total expenditures made by the joint venture (both parties) until completion of the Development Feasibility Study.