Percentage and Calculation. Subject to applicable credits and adjustments, Lessee, in accordance with its usual practice, shall pay to Lessor a production royalty (the “Production Royalty”) equal to the applicable percentage of Net Value as defined, calculated and paid as set forth in Exhibit B, attached hereto and by this reference made a part hereof. Said percentages shall be as follows: Gold Price Royalty Percentage $275 or less per ounce 2.5% $275.01 to $ 375 per ounce 3.0% $375.01 to $ 475 per ounce 4.0% $475.01 or greater 5.0%
Appears in 3 contracts
Samples: Mining Lease (Miranda Gold Corp), Mining Lease (Miranda Gold Corp), Mining Lease (Miranda Gold Corp)
Percentage and Calculation. Subject to applicable credits and adjustments, Lessee, in accordance with its usual practice, shall pay to Lessor a production royalty (the “"Production Royalty”") equal to the applicable percentage of Net Value as defined, calculated and paid as set forth in Exhibit B, attached hereto and by this reference made a part hereof. Said percentages shall be as follows: Gold Price Royalty Percentage $275 or less per ounce 2.5% $275.01 to $ $375 per ounce 3.0% $375.01 to $ $475 per ounce 4.0% $475.01 or greater 5.0%
Appears in 2 contracts
Samples: Mining Lease, Mining Lease (Golden Aria Corp.)
Percentage and Calculation. Subject to applicable credits and adjustments, Lessee, in accordance with its usual practice, shall pay to Lessor a production royalty (the “"Production Royalty”") equal to the applicable percentage of Net Value as defined, calculated and paid as set forth in Exhibit B, attached hereto and by this reference made a part hereof. Said percentages shall be as follows: Gold Price Royalty Percentage $275 or less per ounce 2.5% $275.01 to $ 375 per ounce 3.0% $375.01 to $ 475 per ounce 4.0% $475.01 or greater 5.0%
Appears in 1 contract
Samples: Mining Lease (Miranda Gold Corp)
