Common use of GENERAL SURVEY PERIOD Clause in Contracts

GENERAL SURVEY PERIOD. 1. The Company shall commence, as soon as possible and not later than six months after the signing of this Agreement, a General Survey of the Contract Area to determine in what parts of the Contract Area deposits of Minerals are most likely to occur. The "General Survey Period" shall end on that date which shall be 12 (twelve) months after such commencement. The Department, upon request by the Company, will grant an extension of 12 (twelve) months for the General Survey Period for the purpose of completing the activities to be carried out by it during such Period. 2. By the end of the General Survey Period, including the SIPP Period, the Company shall have spent, with respect to the Contract Area, not less than two million United States Dollars (US$ 2,000,000.00) on field expenditure. Such expenditures may include general organizational overhead and administrative expenses directly connected with field activities under this Agreement. 3. If at the expiration of eighteen months from the date of the signing of this Agreement or any time there after, it appears to the Department that the Company has seriously neglected its obligations with respect to minimum expenditures as provided in paragraph 2 of this Article, the Department may require the Company to deliver to the Department a guarantee to a sum which shall not exceed the total outstanding expenditure obligations remaining unfulfilled. Such guarantee in the form of a bond or a Banker's Guarantee may at the end of the three year period commencing on the date of the signing of this Agreement be forfeited to the Government to the extent that the Company shall have failed to fulfill such expenditure obligations. Except to the extent of any such forfeiture, such guarantee shall be released at the end of such three year period. 4. In connection with the Company's obligations under this Article, the Company shall submit to the Department, within two months after the end of the General Survey Period, a report setting forth the items and amounts of expenditure during such Period. The Company shall be prepared to support such report with reasonable documentation of expenditures should the Department so request. 5. The Company may at any time discontinue the General Survey with respect to any part or parts of the Contract Area on the grounds that the continuation of such General Survey is no longer commercially feasible or practical and shall apply in writing to the Department in accordance with paragraph 3 of Article 4 for the relinquishment of such part or parts of the Contract Area. The Contract Area shall thereby be reduced to the area which remains after such relinquishment. 6. If, at any time or times during the General Survey Period, after the Company has discovered deposits of Minerals in any part or parts of the Contract Area and has decided to proceed into the Exploration Period with respect to one or more of such deposits, it shall submit a written notice and explanation to such effect to the Department and shall establish one or more Exploration Areas with respect to such deposit or deposits and begin the Exploration thereof without affecting its rights and obligations under this Agreement in respect of other portions of the Contract Area.

GENERAL SURVEY PERIOD. 1. The Company shall commence, commence as soon as possible and but not later than six months after the signing of this Agreement, a General Survey of the Contract Area to determine in what parts of the Contract Area deposits of Minerals are most likely to occur. The "“General Survey Period" ” shall end on that date which shall be 12 (twelve) months after such commencement. The Department, upon request Company may apply to the Government to have any unexpired portion of the Preliminary Survey Permit (SIPP) period added to the General Survey Period. If approval is given by the Company, will grant an extension Government for addition of 12 the unexpired portion of the SIPP period to the General Survey Period then the sum of the two periods shall be called the “General Survey Period”. The Company shall spend not less than Forty Five United States Dollars (twelveUS$45.00) months per square kilometre on field expenditure for the General Survey Period for of the purpose of completing the activities to be carried out by it initial Contract Area during such Period. 2. By the end of the General Survey Period, Period including the SIPP Period, the Company shall have spent, with respect to the Contract Area, not less than two million United States Dollars (US$ 2,000,000.00) on field expenditureperiod. Such expenditures expenses may include general organizational organisational overhead and administrative expenses directly connected with field activities under this Agreement. 32. If at the expiration of eighteen (18) months from the date of the signing of this Agreement or any time there after, thereafter it appears to the Department Ministry that the Company has seriously neglected its obligations with respect to minimum expenditures as provided in paragraph 2 1 of this Article, the Department Ministry may require the Company to deliver to the Department Ministry a guarantee in the form of a bond or banker’s guarantee to a sum which shall not exceed the total outstanding expenditure obligations remaining unfulfilled. Such guarantee in the form of a bond or a Banker's Guarantee may at the end of the three year period commencing on the date of the signing of this Agreement be forfeited to the Government to the extent that the Company shall may have failed to fulfill such its expenditure obligations. Except to the extent of any such forfeiture, forfeiture as aforesaid such guarantee shall be released at the end of such that three year period. 43. In connection with the Company's ’s obligations under this Article, the Company shall submit to the Department, Ministry within two (2) months after from the end expiration of the General Survey Period, a report setting forth the items and amounts of expenditure during such the General Survey Period. The Company shall be prepared to support such report with reasonable documentation of expenditures should the Department Government so request. 54. The Company may at any time discontinue the General Survey with respect to in any part or parts of the Contract Area on the grounds ground that the continuation of such General Survey is no longer a commercially feasible or practical proposition and shall apply in writing to the Department in accordance Ministry with paragraph 3 due observance of Article 4 paragraph 3 for the relinquishment surrender of its rights and obligations for such part or parts of the Contract Area. The Contract Area shall thereby be reduced to the area which remains after such relinquishmentsurrender. 65. If, If at any time or times during the General Survey Period, after Period the Company has discovered discovers mineral deposits of Minerals in any part or parts of the Contract Area and has decided decides to proceed into with the Exploration Period with respect to one or more of such deposits, thereof it shall submit a written notice request and explanation to such effect to the Department Ministry and shall establish one or more Exploration Areas with respect to put such deposit or deposits and begin into the Exploration thereof succeeding stage without affecting its rights and obligations under this Agreement in respect of other portions of the Contract Areaareas.