Mineral Properties Sample Clauses
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. Bolañitos Mines Project El Cubo Mines Project Guanaceví Mines Project Terronera Project
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. (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. 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. (i) Except for the Valentine Lake Property and the Other Mineral Properties, Mountain Lake and Spinco do not own or hold any other direct or indirect interest of any kind in any other mineral property.
(ii) No Person has any agreement, option, right of first refusal or right, title or interest or right capable of becoming an agreement, option, right of first refusal or right, title or interest, in or to the Valentine Lake Property or the Other Mineral Properties, except as set out in Subsection 3.1(v)(ii) of the Mountain Lake Disclosure Letter.
(iii) Mountain Lake has all necessary corporate power to own the Valentine Lake Property and the Other Mineral Properties and is in compliance with all applicable Laws, registrations, permits, consents and qualifications to which the Valentine Lake Property and the Other Mineral Properties are subject.
(iv) All taxes, local improvements, assessment rates, utilities and any and all other payments to or assessments of any Governmental Entity having jurisdiction in respect of the Valentine Lake Property and the Other Mineral Properties have been paid by Mountain Lake in respect of the Valentine Lake Property and the Other Mineral Properties.
(v) Except as set out in Subsection 3.1(v)(v) of the Mountain Lake Disclosure Letter, neither the Valentine Lake Property or the Other Mineral Properties nor any minerals or product derived from the Valentine Lake Property or the Other Mineral Properties are subject to or bound by any royalty or royalty interest, whether registered or unregistered, and neither Mountain Lake nor Spinco has granted any royalty interest in or affecting the foregoing.
(vi) There is no action, suit, order, work order, petition, prosecution or other similar proceeding of which process initiating the same has been served on Mountain Lake or Spinco or threatened against Mountain Lake or Spinco and affecting the Valentine Lake Property or the Other Mineral Properties at Law or in equity or before or by any Governmental Entity.
(vii) Neither Mountain Lake nor Spinco has received notice of any breach of any applicable Law in respect of its conduct on the Valentine Lake Property or the Other Mineral Properties which could have a Material Adverse Effect on the Valentine Lake Property or the Other Mineral Properties or the right, title and/or interest of Mountain Lake therein and thereto.
Mineral Properties. Marathon Gold and its Subsidiaries own those interests, rights and obligations with respect to material mineral properties and other material assets as are in all material respects described in Marathon Gold's Annual Information Form for the year ended December 31, 2011 and as otherwise publicly disclosed by Marathon Gold. With respect to any material mineral properties which Marathon Gold or any of its Subsidiaries owns or controls or in which it has an interest, except as publicly disclosed by Marathon Gold: (i) Marathon Gold and its Subsidiaries hold title to all such properties and interests free and clear of any Encumbrance, royalty or other right; (ii) there is no action, suit, order, work order or other similar proceeding of which process initiating the same has been served on Marathon Gold or any of Marathon Gold's Subsidiaries or that is currently pending before or by any Government Entity which could have a Material Adverse Effect on Marathon Gold; and (iii) neither Marathon Gold nor any of its Subsidiaries has received any notice of breach of any applicable Law in respect of its conduct or Marathon Gold's material mineral properties which could have a Material Adverse Effect on Marathon Gold.
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