Common use of Mining Rights Clause in Contracts

Mining Rights. Except as disclosed in the Specified Disclosure, the Mining Rights of the Corporation and the Material Entities are in good standing, are valid and enforceable, are free and clear of any material liens or charges and, other than as set out in the Pricing Disclosure Package and the Prospectuses, no material royalty is payable in respect of any of them. Except as set out in the Pricing Disclosure Package and the Prospectuses, no property rights other than the Mining Rights are necessary for the conduct of the Corporation’s or the Material Entities’ business as now conducted or proposed to be conducted in the Pricing Disclosure Package and the Prospectuses; and except as set out in the Pricing Disclosure Package and the Prospectuses there are no material restrictions on the ability of the Corporation or the Material Entities to use, transfer or otherwise exploit any such rights. The Corporation and the Material Entities are the holders of the Mining Rights necessary to carry on the activities of the Corporation and the Material Entities. The Mining Rights held by the Corporation and the Material Entities cover the areas required by them for such purposes, except as disclosed in the Specified Disclosure;