Pre-Feasibility Study Program and Budgets Clause Samples
Pre-Feasibility Study Program and Budgets. (a) When a Member has the good faith and reasonable belief that economically viable Mining Operations may be possible on the Properties, the Member may propose that a Pre-Feasibility Study Program and Budget, or a Program and Budget that includes Pre-Feasibility Studies, be prepared. Such proposal shall (i) be made in writing to the other Member and (ii) reference the data upon which the proposing Member bases its opinion. The proposing Member shall call a special meeting of the Management Committee pursuant to Section 8.3. If the proposal is adopted by the Management Committee, the Manager shall prepare or have prepared a Pre-Feasibility Study Program and Budget as approved by the Management Committee and shall submit the same to the Management Committee within ninety (90) days following adoption of the proposal.
(b) The Management Committee may determine to have the Pre-Feasibility Study prepared by the Manager, by Feasibility Contractors, or by both, or prepared by the Manager and audited by Feasibility Contractors. A Pre-Feasibility Study Program shall include the work necessary to prepare and complete the Pre-Feasibility Study approved in the proposal adopted by the Management Committee, which may include some or all of the following:
(1) analyses of various alternatives for mining, processing and beneficiation of Products;
(2) analyses of alternative mining, processing and production rates;
(3) analyses of alternative sites for facilities (such as water supply facilities, transport facilities, reagent storage facilities, offices, shops, warehouses, stock yards, explosives storage facilities, handling facilities, housing, processing facilities and public facilities);
(4) analyses of alternatives for waste handling, treatment and disposal (including but not limited to a description of any alternative methods of disposal and locations of proposed disposal site(s));
(5) estimates of recoverable proven and probable reserves of Products and related substances, considering, among other things, composition thereof, impurities, grade, technical and economic constraints on production and recovery, processing, losses, and mining rates commensurate with such reserves;
(6) analyses of environmental impacts of each alternative, including but not limited to an analysis of permitting, Environmental Liabilities, other Environmental Law implications; and estimated costs of Environmental Compliance;
(7) conduct of appropriate metallurgical tests to determine the effici...
Pre-Feasibility Study Program and Budgets. (a) At such time as either Participant is of the good faith and reasonable opinion that economically viable Mining Operations may be possible on the Properties, the Participant may propose to the Management Committee that a Pre-Feasibility Study Program and Budget, or a Program and Budget that includes Pre-Feasibility Studies, be prepared. Such proposal shall be made in writing to the other Participant, shall reference the data upon which the proposing Participant bases its opinion, and shall call a meeting of the Management Committee pursuant to SECTION 7.
Pre-Feasibility Study Program and Budgets. 1. At such time as either Participant is of the good faith and reasonable opinion that economically viable Mining Operations may be possible on the Properties, the Participant may propose to the Management Committee that a Pre-Feasibility Study Program and Budget, or a Program and Budget that includes Pre-Feasibility Studies, be prepared. Such proposal shall be made in writing to the other Participant, shall reference the data upon which the proposing Participant bases its opinion, and shall call a meeting of the Management Committee pursuant to Section 7.3. If such proposal is adopted by the Management Committee, the Manager shall prepare or have prepared a Pre-Feasibility Study Program and Budget as approved by the Management Committee and shall submit the same to the Management Committee within 60 days following adoption of the proposal.
2. Pre-Feasibility Studies may be conducted by the Manager, Feasibility Contractors, or both, or may be conducted by the Manager and audited by Feasibility Contractors, as the Management Committee determines. A Pre-Feasibility Study Program shall include the work necessary to prepare and complete the Pre-Feasibility Study approved in the proposal adopted by the Management Committee, which may include some or all of the following:
Pre-Feasibility Study Program and Budgets. (a) At such time as either Participant is of the good faith and reasonable opinion that economically viable Mining Operations may be possible on the Property, the Participant may present a written proposal to the Management Committee that a Pre-Feasibility Study Program and Budget, or a Program and Budget that includes Pre-Feasibility Studies, be prepared. Such proposal shall include a general description of the proposed Development and Mining alternatives, the number and type of Pre-Feasibility Studies proposed to be conducted, a statement from the Participant that it believes economically viable Mining Operations on the Property may be possible, and a detailed summary of the data upon which the proposing Participant bases its belief. The proposal shall be accompanied by a written notice of the date and time of a meeting of the Management Committee to consider the proposal to be held not less than 20 days after the submission of the proposal. If the Management Committee adopts a proposal, the Operator shall prepare and submit to the Management Committee, within 60 days after the adoption of the proposal, a proposed Program and Budget including the Pre-Feasibility Studies consistent with the adopted proposal, including any modifications to the proposal approved by the Management Committee.
(b) The Program for the Pre-Feasibility Studies prepared by the Operator under Section 9.6(a) shall provide for the following for the various alternatives in the approved proposal: (i) analyses of the various alternatives for mining, processing and beneficiation of Products;