Mineral Properties Sample Clauses
The Mineral Properties clause defines the rights and obligations related to the ownership, use, or transfer of mineral resources on a specified property. Typically, this clause outlines which party holds the rights to explore, extract, or profit from minerals such as oil, gas, coal, or precious metals found on the land. It may also specify any limitations, royalties, or regulatory compliance required for mineral extraction. The core function of this clause is to clearly allocate mineral rights and responsibilities, thereby preventing disputes over resource ownership and use.
Mineral Properties. (a) The Purchaser controls or has legal rights to, through mining tenements of various types and descriptions, all of the rights, titles and interests materially necessary or appropriate to authorize and enable it to carry on the mineral exploration and development as currently being undertaken or proposed and has obtained or, upon performance of all conditions precedent, will be able to obtain such rights, titles and interests as may be required to implement its plans on properties which are material to the Purchaser and the Purchaser is not in material default of such rights, titles and interests.
(b) All assessments or other work required to be performed in relation to the material mining claims and the mining rights of the Purchaser, in order to maintain its interest therein, if any, have been performed to date and the Purchaser has complied in all material respects with all applicable Laws in this connection as well as with regard to legal, contractual obligations to third parties in this connection except in respect of mining claims and mining rights that the Purchaser intends to abandon or relinquish and except for any non-compliance which could not either individually or in the aggregate be expected to have a Material Adverse Effect. All Taxes, rentals, fees, expenditures and other payments in respect of the Purchaser’s properties and mineral rights, claims and leases have been paid or incurred. All such mining claims and mining rights are in good standing in all material respects as of the date of this Agreement.
(c) To the Purchaser’s knowledge, there are no expropriations or similar proceedings or any material challenges to title or ownership, actual or threatened, of which the Purchaser has received notice against the Purchaser’s mining claims and the mining rights or any part thereof.
(d) All mineral exploration activities on the properties of the Purchaser have been conducted in all material respects in accordance with good mining and engineering practices and all applicable workers’ compensation and health and safety and workplace laws, regulations and policies have been duly complied with except where the failure to so conduct operations could not reasonably be expected to have a Material Adverse Effect.
(e) The legal opinion of Venutti Professional Corporation dated February 18, 2015 provided pursuant to the Underwriting Agreement dated February 2, 2015 (the “2015 Opinion”) contains an accurate list of the real property (including mining c...
Mineral Properties. Schedule 4.16.1 sets forth a true, correct, and complete list of all patented and unpatented mining claims and real estate interests and the land associated therewith (the “Mineral Properties”) held by the Company or any of its Subsidiaries and identifies which entity holds each such mining claim or real estate interest.
Mineral Properties. Bolañitos Mines Project El Cubo Mines Project Guanaceví Mines Project Terronera Project
Mineral Properties. (i) The Mineral Properties are held by Grandview under valid, subsisting and enforceable documents or recognized and enforceable agreements or instruments that are sufficient to permit the Purchaser to conduct exploration, development and exploitation activities thereon, subject to applicable permitting requirements;
(ii) All Mineral Properties have, to Grandview’s best knowledge, been validly located, staked and recorded in accordance with all applicable laws and are valid and subsisting; and
(iii) The Mineral Properties are in good standing with respect to all filings, fees, rents, Taxes, assessments, work commitments and other similar matters required with respect thereto, and there are no adverse claims or challenges outstanding or, to Grandview’ knowledge, threatened against Grandview’ right, title and interest in and to the Mineral Properties; At Closing, Grandview shall have performed all required work that is required in respect of the claims comprising the Mineral Properties or shall have paid the dollar value of the unperformed required work to the recorder and shall have filed all required reports in relation to the required work, all in accordance with The Mines and Minerals Act (Manitoba) for the period ended December 31, 2010, and required to renew the claims for the period ending December 31, 2010.
Mineral Properties. Section 4.16.1 of the Company Disclosure Schedule sets forth a true, correct, and complete list of all patented mining claims ("Patented Claims"), unpatented mining claims ("Unpatented Claims"), unpatented millsites ("Millsites") and tunnel sites ("Tunnel Sites;" together with the Patented Claims, the Unpatented Claims and the Millsites, collectively, the "Mineral Properties") held by the Company or any of its Subsidiaries and identifies which entity holds each such claim or site.
Mineral Properties. The Company is in the process of exploring its mineral properties and has not yet determined whether these properties contain mineral resources that are economically recoverable. Mineral exploration and development costs are capitalized on an individual prospect basis until such time as an economic ore body is defined or the prospect is abandoned. Costs for a producing prospect are amortized on a unit-of-production method based on the estimated life of the ore reserves, while costs for the prospects abandoned are written off. The recoverability of the amounts capitalized for the undeveloped mineral properties is dependent upon the determination of economically recoverable ore reserves, confirmation of the Company's interest in the underlying mineral claims, the ability to farm out its resource properties, the ability to obtain the necessary financing to complete their development and future profitable production or proceeds from the disposition thereof. Title to mineral properties involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyance history characteristic of many mineral properties. The Company has investigated title to all of its mineral properties and, to the best of its knowledge, title to all of its properties are in good standing. The Company does not accrue the estimated costs of maintaining its mineral interest in good standing.
Mineral Properties. Tiller and Subco have no material property, assets mineral tenures, claims or leases other than as set out in Section 4.19 of the Tiller Disclosure Schedule (the “Tiller Properties”). As of the date of this Agreement:
(a) the Tiller Properties are in good standing and Tiller has not been notified by any applicable government authority or optioner of a Tiller Property that any rights to the Tiller Property will be terminated or extinguished;
(b) Tiller and Subco are in compliance with, all licences, permits, certificates, orders, grants and other authorizations of or from any Government Authority necessary to conduct its business as currently conducted, in accordance with applicable Laws;
(c) the Tiller Properties have been properly located and recorded in compliance with applicable Laws and comprise valid and subsisting mineral claims or equivalent rights;
(d) except as disclosed in Section 4.19 of the Tiller Disclosure Schedule, there are no earn-in rights, rights of first refusal, royalty rights or similar provisions, which would materially affect the Tiller Properties;
(e) there are no restrictions on the ability of Tiller or Subco to use, transfer or exploit the Tiller Properties except pursuant to applicable Laws in the normal course; and
(f) all work required to be performed on the Tiller Properties has been performed and all taxes, rentals, fees, expenditures and other payments in respect thereof have been paid or incurred and all filings in respect thereof have been made.
Mineral Properties. (a) Section 5.10(a) of the Romarco Disclosure Schedule lists each parcel of real property currently owned or leased by, or subject to a claim or other property, proprietary or contractual interest or right in favor of, Romarco and the Romarco Subsidiaries (the "Romarco Properties"). Romarco has provided a copy of Romarco and the Romarco Subsidiaries' title documents or other agreements or instruments in respect of the ore bodies and minerals located in the Romarco Properties ("Romarco Title Documents")
Mineral Properties. The Mineral Properties are defined as the property held under the license issued by the Territorial Agency for the Management of Mineral Resources for the Chita Region of the Russian Federation, numbered CHIT01747 BE. The subsurface mineral area is located in two properties under this license that are located 50 kilometers southeast of Amazar Settlement, mogocha Area Administration, Chita in the Kadara River Basin. The rights consist of a 47% undivided interest above described license to the Mineral Properties.
Mineral Properties. The Company holds mineral properties in the Western U.S. and in Saskatchewan as follows: MINERAL PROPERTIES CLAIMS APPROX. ACRES COLORADO PLATEAU (1) 1,132 40,625 WYOMING 152 4,147 ARIZONA STRIP 170 3,400 OTHER U.S. 18 360 CANADA (2) 23 33,504