Commencement of Commercial Production. Commencement of Commercial Production shall occur upon the completion of all major construction and development work, including but not limited to, conversion of the pilot mill to a full-scale milling facility, receipt of all necessary production and operating permits from local, state and federal regulatory agencies and the beginning of reasonably satisfactory operation of mine and mill facilities in the course of substantial mining operations resulting in the production and sale of marketable concentrates, other than for metallurgical testing and trial marketing purposes, as evidenced by a resolution of the Company as manager and operator of the Ashdown Mine pursuant to the Ashdown Joint Venture Agreement.
Commencement of Commercial Production. Within thirty (30) days after the Date of Commencement of Commercial Production, the Contractor shall notify the Secretary, Director and Regional Director of such commencement.
Commencement of Commercial Production. If a retention period applies, the exploitation phase shall commence once is made the declaration of Commercial Discovery.
Commencement of Commercial Production. Commercial Operations The Company will promptly notify the Exchange the commencement of commercial/production or the commencement of commercial operations of any unit/division where revenue from the unit/division for a full year of production or operations is estimated to be not less than ten per cent of the revenues of the Company for the year. (4) Developments with respect to pricing/realisation arising out of change in the regulatory framework. The Company will promptly inform the Exchange of the developments with respect to pricing of or in realisation on its goods or services (which are subject to price or distribution control/restriction by the Government or other statutory authorities, whether by way of quota, fixed rate of return, or otherwise) arising out of modification or change in Government’s or other authority’s policies provided the change can reasonable be expected to have a material impact on its present or future operations or its profitability.
(5) Litigation/dispute with a material impact The Company will promptly after the event inform the Exchange of the developments with respect to any dispute in conciliation proceedings, litigation, assessment, adjudication or arbitration to which it is a party or the outcome of which can reasonably be expected to have a material impact on its present or future operations or its profitability or financials.
(6) Revision in Ratings The Company will promptly notify the Exchange, the details of any rating or revision in rating assigned to any debt or equity instrument of the Company or to any fixed deposit programme or to any scheme or proposal of the Company involving mobilisation of funds whether in India or abroad provided the rating so Page 20 of 62 assigned has been quoted, referred to, reported, relied upon or otherwise used by or on behalf of the Company.
(7) Any other information having bearing on the operation/performance of the company as well as price sensitive information, which includes but not restricted to; i) Issue of any class of securities.ii) Acquisition, merger, de-merger, amalgamation, restructuring, scheme of arrangement, spin off or selling divisions of the company, etc.
Commencement of Commercial Production
