Definition of Net Smelter Returns. During the term of this Lease, Lessee shall pay to Lessor, as a land owner's Production Royalty, a percentage of the Net Smelter Returns (as defined below) from the sale of any Valuable Minerals, Ore, and Product mined and sold from the Property. "Net Smelter Returns" are defined as the gross revenues actually received by Lessee from the sales of any Valuable Minerals extracted and produced from the Property less the following charges:
Definition of Net Smelter Returns. For the purposes of this Agreement, the term "Net Smelter Returns" shall mean the net proceeds actually paid to the Optionee from the sale by the Optionee of minerals mined and removed from the Property, after deduction of the following:
Definition of Net Smelter Returns. During the term of this Agreement, Lessee shall pay to Lessor, as a land owner's Production Royalty, a percentage of the Net Smelter Returns (as defined below) from the sale of any Valuable Minerals, Ore, and Product mined and sold from the Property. "Net Smelter Returns" are defined as the gross revenues actually received by the Lessee from the sales of any Valuable Minerals extracted and produced from the Property less the following charges:
1. All costs to Lessee of weighing, sampling, determining moisture content and packaging such material and of loading and transporting it to the point of sale, including insurance and in-transit security costs.
2. All smelter costs and all charges and penalties imposed by the smelter, refinery, or purchaser.
3. Marketing costs and commissions.
4. Not withstanding the foregoing, for purposes of determining the royalty payable to Lessor on any gold and/or silver produced from the Property, the price attributed to such gold and/or silver shall be the price per ounce of gold and/or silver on which the royalty is to be paid (as the case may be) as quoted on the London Metals Exchange at the PM fix on the day prior to the date of final settlement from the smelter, refinery or other buyer of the gold and/or silver on which the royalty is to be paid (the "Quoted Price"). For purposes of determining the gross revenues, in the event the Lessee elects not to sell any portion of the gold and/or silver mined from the Property, but instead elects to have the final product of any such gold and/or silver credited to be held for its account with any smelter, refiner, or broker, such gold and/or silver shall be deemed to have been sold at the Quoted Price on the day such gold and/or silver is actually credited to or placed in Lessee's account. The percentage for this Production Royalty shall be four per cent (4%).
5. Lessor shall be paid the Production Royalty quarterly by certified check by the Lessee.
Definition of Net Smelter Returns. Miranda or Golden Aria, as the case may be, shall pay to Miranda or Golden Aria, as the case may be, a non-Participating Net Smelter Return royalty of one (1.0%) percent of the Net Smelter Returns of Products produced from the Properties under the circumstances provided in Section 6.3(c) of this Agreement. For purposes herein, Net Smelter Returns shall be defined to mean the entire proceeds received from a smelter, reduction works, refinery or other purchaser from the sale of products produced from the Property, less:
a. The amount of sales, use, gross receipts, severance, net proceeds of mine, ad valorem taxes applicable under state, federal, or local law and any other tax or governmental levy or fee relating to production of precious metals or other products from the Property or the value thereof. The Royalty Payor and the Royalty Recipient shall be obligated to pay any taxes assessed and imposed upon their respective shares of the Net Smelter Returns.
b. All charges and costs for transportation of products to the place of sale, whether transported by Payor or a third party, but limited to the cost of transportation or doré metal or concentrates from the mine site to a smelter or refinery.
c. All charges, costs, deductions and penalties for refining and smelting only.
Definition of Net Smelter Returns. Net Smelter Returns" are defined as the Gross Revenues received (as defined below) by the Payor from the sales of any ores, mineral resources or mineral products ("Products") extracted and produced from the Property, less (i) all costs to the Payor of weighing, sampling, determining moisture content and packaging such material and of loading and transporting it to the point of sale, including insurance and in-transit security costs; (ii) all smelter costs and all charges and penalties imposed by the smelter, refinery or purchaser; and (iii) ad valorem taxes, severance taxes and governmental royalties and any other taxes, charges or assessments as are imposed upon the production except for applicable income taxes. Gross Revenues shall be defined as the greater of: - the actual gross revenues received by the Payor from the sales of the Products, or - gross revenues from the sales of the Products based on the price attributed to the Products so sold shall the the price per ounce/ pound/tonne of Product as quoted on the London P.M. fix, the relevant London Metal Exchange official statement quotation, or, if necessary, such other internationally recognized exchange, averaged over the calendar quarter prior to the date of final settlement from the smelter, refinery or other buyer of the Products on which the Royalty is to be paid (the "Quoted Price"). For the purposes of calculating Net Smelter Returns in the event the Payor elects not to sell any portion of any Products extracted and produced from the porphyry portion of the Property but instead elects to have any such Products credited to or held for its account with any smelter, refiner or broker, such Products shall be deemed to have been sold at the Quoted Price on the day such Products are actually credited to or placed in the Payor's account.
Definition of Net Smelter Returns. During the term of this Agreement, Maneki shall pay to Ammetco, as a landowner’s Production Royalty, a percentage of the Net Smelter Returns (as defined below) from the sale of any Valuable Minerals, Ore, and Product mined and sold from the Property. “Net Smelter Returns” are defined as the gross revenues actually received by Maneki from the sales of any Valuable Minerals extracted and produced from the Property less the following charges:
1. All costs to Maneki of weighing, sampling, determining moisture content and packaging such material and of loading and transporting it to the point of sale, including insurance and in-transit security costs. 2. All smelter costs and all charges and penalties imposed by the smelter, refinery, or purchaser.
3. Marketing costs and commissions.
Definition of Net Smelter Returns. The term ‘net smelter returns’ shall mean the gross value of all ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet), less the following expenses actually incurred and borne by PMC:
Definition of Net Smelter Returns. “Net Smelter Returns” are defined as the Gross Revenues received (as defined below) by the Payor from the sales of any ores, mineral resources or mineral products (“Products”) extracted and produced from the Property; after deducting the following:
(a) all smelting and refining costs, sampling, assaying and treatment charges and penalties including but not limited to metal losses, penalties for impurities and charges for refining, selling and handling by the smelter, refinery or other purchaser (including price participation charges by smelters and/or refiners); and
(b) costs of handling, transporting, securing and insuring such material from the Claims or from a concentrator, whether situated on or off the Claims, to a smelter, refinery or other place of treatment, and in the case of gold or silver concentrates, security costs; and
(c) ad valorem taxes and taxes based upon sales or production, but not income taxes; and
(d) marketing costs, including sales commissions, incurred in selling ore mined from the Claims and from concentrate, doré, metal and products derived from ore mined from the Claims. Gross Revenues shall be defined as the actual gross revenues received by the Payor from the sales of the Products, unless the Quoted Price (as defined below) applies, in which case Gross Revenues shall be determined as follows: gross revenues from the sales of the Products based on the price attributed to the Products so sold shall be the price per ounce / pound / tonne of Product as quoted on the London precious metals fix averaged over the quarter prior to the date of final settlement from the smelter, refinery or other buyer of the Products on which the Royalty is to be paid (the “Quoted Price”). For the purposes of calculating Net Smelter Returns in the event the Payor elects not to sell any portion of any metal extracted and produced from the Property, but instead elects to have the final product of any such metals credited to or held for its account with any smelter, refiner or broker, such metals shall be deemed to have been sold at the Quoted Price on the day such metals are actually credited to or placed in the Payor’s account. With respect to any metals other than precious metals extracted and produced from the Property, the price attributed to such other metals shall be calculated based on the relevant London Metal Exchange official settlement quotation (or other generally accepted quotation) averaged over the quarter prior to the date of final settl...
Definition of Net Smelter Returns
