Definition of Positive Feasibility Study


Positive Feasibility Study means a Feasibility Study which contains an unqualified recommendation that a Production Decision be made.

Examples of Positive Feasibility Study in a sentence

ATW may require that the decision on whether development of a mine is warranted in accordance with the Positive Feasibility Study shall be deferred for up to 12 months after the Positive Feasibility Study has been obtained.
Prior to the Commercial Production Date, AuEx shall prepare and deliver to Newmont a notice that includes: (i) a Positive Feasibility Study, as defined in Exhibit C hereto covering the portion of the Property on which AuEx intends to commence production, (ii) all factual data relating to the Newmont Property and Area of Interest not previously provided to Newmont, and (iii) a detailed summary of all Expenditures made by AuEx through the date of completion of the Positive Feasibility Study.
Positive Feasibility Study means a detailed report recommending the development of a mine, or the drilling of production wells in the case of liquid or gaseous hydrocarbons, within the Property, for being economically viable and profitable to exploit the relevant deposit or deposits according to the parameters established in such study, contemplating the maximum prospective development and operation as is reasonable and economically viable according to the data available at the time such study is prepared.
Following completion of a Positive Feasibility Study, Columbus shall elect (a) to form a joint venture with Piedmont in accordance with Section 3 below, in which case Columbus shall fund 30% of all additional expenditures, or (b) to receive an overriding perpetual royalty on production from the Property equal to two percent (2%) of net smelter returns.
The term Positive Feasibility Study (also known as a bankable feasibility study) means a detailed report prepared or verified by an independent firm of consultants demonstrating the feasibility of placing the Property into commercial production.