Refined Metals Other Than Gold Sample Clauses

Refined Metals Other Than Gold. If MSX causes silver or other refined metals other than refined gold to be produced from Minerals mined from the Properties, the Royalty shall be paid on the refined metal produced, as herein provided, and the Gross Proceeds shall be determined by multiplying Refined Metal Production during the calendar month by the Monthly Average Refined Metal Price for that month. As used herein, "Refined Metal Production" shall mean the quantity of Refined Metal out-turned during the calendar month to MSX's pool account by an independent third-party refinery from Minerals produced from the Properties, on either a provisional or final settlement basis. As used herein, "Monthly Average Refined Metal Price" shall mean the average New York Refined Metal Price as published by Metals Week, calculated by dividing the sum of all such prices reported for the calendar month by the number of days for which such prices were reported.
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Related to Refined Metals Other Than Gold

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