Common use of FEASIBILITY REPORT Clause in Contracts

FEASIBILITY REPORT. 13.1 Except as provided in paragraph 13.2, a Feasibility Report will only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will provide copies of the completed Feasibility Report to each of the Parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is not contained in the Feasibility Report. 13.3 Notwithstanding the provisions of paragraph 13.1, if a Party (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will give notice thereof to the Operator and the Operator will call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Parties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will deliver the Feasibility Report to the Operator who will then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposes, and the non-contributing Parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will suffer reduction of their respective Interests pursuant to paragraph 15.3.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.2Section 8.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.1Section 8.1, if a Party party (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.3Section 7.9. Upon the adoption by the Management Committee of the Proponent’s Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.3 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 14.1 Except as provided in paragraph 13.214.2, a Feasibility Report will only be prepared with the approval of: (a) the Management Committee and Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Second Operative Date, or (b) the Management Committee, after the Second Operative Date. After the Second Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their the Parties' Proportionate Shares. 13.2 14.2 The Operator will provide copies of the completed Feasibility Report to each of the Parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is not contained in the Feasibility Report. 13.3 14.3 Notwithstanding the provisions of paragraph 13.114.1, if a Party (the “"Proponent”") is of the view that a Feasibility Report should be prepared, such Party will give notice thereof to the Operator and the Operator will call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Parties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will deliver the Feasibility Report to the Operator who will then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposes, and the non-contributing Parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will suffer reduction of their respective Interests pursuant to paragraph 15.316.3.

FEASIBILITY REPORT. 13.1 8.01 Except as provided in paragraph 13.28.02, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.02 Notwithstanding the provisions of paragraph 13.18.01, if a Party party (the “"Proponent”") is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.11 Upon the adoption by the Management Committee of the Proponent's Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.03 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.28.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.18.1, if a Party party (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% its of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.9. Upon the adoption by the Management Committee of the Proponent’s Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.3 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 14.1 Except as provided in paragraph 13.214.2, a Feasibility Report will only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Exploration Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Sharesto the Parties respective interests in the Property. 13.2 14.2 The Operator will provide copies of the completed Feasibility Report to each of the Parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is not contained in the Feasibility Report. 13.3 14.3 Notwithstanding the provisions of paragraph 13.114.1, if a Party (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will give notice thereof to the Operator and the Operator will call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Parties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will deliver the Feasibility Report to the Operator who will then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposes, and the non-contributing Parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will suffer reduction of their respective Interests pursuant to paragraph 15.315.2.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.28.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.18.1, if a Party party (the “"Proponent”") is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.9. Upon the adoption by the Management Committee of the Proponent's Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.3 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 8.01 Except as provided in paragraph 13.28.02, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.02 Notwithstanding the provisions of paragraph 13.18.01, if a Party party (the “"Proponent”") is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.09. Upon the adoption by the Management Committee of the Proponent's Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.03 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 8.01 Except as provided in paragraph 13.28.02, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.02 Notwithstanding the provisions of paragraph 13.18.01, if a Party party (the “Proponent”"PROPONENT") is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.2Section 8.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties Participants forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.1Section 8.1, if a Party Participant (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will Participant shall give notice thereof to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other PartiesParticipants, at its or their sole cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties Participants may either pay the Proponent an amount equal to 150% of their respective proportionate costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.3Section 7.9. Upon the adoption by the Management Committee of the Proponent’s Feasibility Report, it shall become a Feasibility Report for all purposes hereunder. 8.3 The Participants shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.28.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.18.1, if a Party party (the “"Proponent”") is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof thereafter to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole sale cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s 's Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs Proportionate Costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.37.10. Upon the adoption by the Management Committee of the Proponent's Feasibility Report, it shall became a Feasibility Report for all purposes hereunder. 8.3 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity, with the Feasibility Report is feasible or desirable.

FEASIBILITY REPORT. 13.1 8.1 Except as provided in paragraph 13.2, a Feasibility Report will shall only be prepared with the approval of: (a) the Optionee if it will be funding the Feasibility Report as part of the Expenditure Costs, before the Operative Date, or (b) the Management Committee, after the Operative Date. After the Operative Date, the costs for the Feasibility Report will be shared pro-rata in proportion with their Proportionate Shares. 13.2 The Operator will shall provide copies of the completed Feasibility Report to each of the Parties parties forthwith upon receipt, together with copies of all of the latest technical data and information generated or received by the Operator from any Programs which is the immediately preceding Program and not contained in the Feasibility Report. 13.3 8.2 Notwithstanding the provisions of paragraph 13.1, if a Party party (the “Proponent”) is of the view that a Feasibility Report should be prepared, such Party will party shall give notice thereof thereafter to the Operator and the Operator will shall call a Management Committee meeting to consider the matter. If the Management Committee fails to approve the preparation of the Feasibility Report supported by the Proponent, the Proponent may, either alone or with other Partiesparties, at its or their sole sale cost, prepare a Feasibility Report. If such Feasibility Report indicates that production from the Property would be profitable to the Proponent, the Proponent will shall deliver the Feasibility Report to the Operator who will shall then call a Management Committee meeting to consider the Proponent’s Feasibility Report. If the Management Committee adopts the Feasibility Report it will become a Feasibility Report for all purposesReport, and the non-contributing Parties parties may either pay the Proponent an amount equal to 150% of their respective proportionate costs Proportionate Costs of the preparation of the Feasibility Report, or will shall suffer reduction of their respective Interests pursuant to paragraph 15.3. Upon the adoption by the Management Committee of the Proponent’s Feasibility Report, it shall became a Feasibility Report for all purposes hereunder. 8.3 The parties shall meet at reasonable intervals and times to review the Feasibility Report and discuss whether the establishing and bringing of a Mine into commercial production in conformity, with the Feasibility Report is feasible or desirable.