Gold Ore definition
Examples of Gold Ore in a sentence
Contract Gold Processor shall ensure industry standard security, controls, procedures, and accounting systems are utilized so that the Pre-Recycled Gold Ore is secured and accounted for at all times.
Gold-Ore Owner agrees it will at a minimum conduct its own independent testing and measurement of the Pre-Recycled Gold Ore including representative samples of gold concentration and digital surveys for size/volume during its 30-Day Due Diligence Period (“Required Due Diligence”).
The Physical Ounces of Gold Purchased are to be processed and refined from Gold-Ore Owner’s Pre-Recycled Gold Ore holdings and delivered in four (4) installments at 6, 12, 18 and 24-months from the Effective Date of this Gold-Ore Purchase Agreement (“Gold Deliveries”).
For example, if the Gold Spot Price at delivery declined to $1,500/oz., then Pre- Recycled Gold Ore held in Trust would be drawn down and refined to supply an additional .2667 oz.
Gold-Ore Owner and its employees, agents and contractors shall be granted reasonable access to each physical mine premises comprising the Property to independently inspect, test, and monitor removal and recycling operations for the Pre-Recycled Gold Ore.
Ore Owner and Trust shall each pay for its own independent Gold Valuation, where the results of each Gold Valuation shall be averaged together to determine the amount of Default Pre-Recycled Gold Ore Seizure.
An advantage of the Trust’s self-contained structure is the ease, speed, and certainty with which the gold contained in the Pre-Recycled Gold Ore can be independently underwritten.
Contract Gold Processor shall recycle the Pre-Recycled Gold Ore to Certified 99.99% Pure Gold including testing, measurement, initial valuation, formal appraisal, removal, transportation, processing, refining, and delivery.
The average independently valued concentration of Certified 99.99% Pure Gold per ton of Pre-Recycled Gold Ore comprising the Property, including any additions thereto, shall be no less than 0.10 oz.
The Pre-Recycled Gold Ore will be refined to independently certified 99.99% (.9999) pure gold 10 g., 1 oz., 10 oz., 1 kg., 100 oz., and 400 oz.