Reserves and Resources Sample Clauses

Reserves and Resources. The information relating to estimates by the Company of the proven and probable reserves and the measured, indicated and inferred resources at the Brisas Project contained in the Time of Sale Information and the Prospectuses has been prepared in all material respects in accordance with NI 43-101. The Company believes that all of the assumptions underlying such reserve and resource estimates are reasonable and appropriate, and, except as disclosed in the Registration Statement, the Time of Sale Information and the Prospectuses, that the projected capital and operating costs, production and operating results relating to its projects and summarized in the Registration Statement, the Time of Sale Information and the Prospectuses are achievable by the Company.
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Reserves and Resources as per UNFC with respect to the threshold value notified by IBM/DMG (Area explored under different level of exploration may be marked on the geological plan and UNFC code for area considered for different categories of reserve/resources estimation may also be marked on geological cross sections)
Sample 1
Reserves and Resources. Reserve estimates have been prepared by Wharf's geological and engineering staff, employing definitions and guidelines established by the United States Geological Survey and the Securities and Exchange Commission, and have been audited by Wattx, Xxifxxx xxx McOuxx Xxxited, an independent geological and engineering consulting firm. Drilling results, geological boundaries, the mine plan, current mining costs and recovery rates have all been considered in calculating reserves. 1999 Reserve calculations for Folex xxx Portland are based on an average gold price of $300 per ounce and a gold recovery of 78.5%, which yields an in-pit cutoff grade of 0.012 opt. The reserve calculations for Trojan and American Eagle are based on $275 pit designs, 70.5% lower contact recovery (78.5% on all other rock types), and on a gold price of $300 per ounce, which yields an in-pit cutoff grade of 0.013 opt. Reserve calculations in 1998 were based on a gold price of $300 per ounce. The extent of mineralization in the Wharf Mine property has not been fully delineated. At December 31, 1999, total permitted reserves in the proven and probable categories were 28.6 million tons at a grade of 0.032 opt for total contained gold of 910,000 ounces. This compares to total permitted reserves in the proven and probable categories of 33.0 million tons at a grade of 0.031 opt for total contained gold of 1,028,000 ounces at December 31, 1998. The decrease in permitted reserves takes into account the mining of 4.2 million tons of ore at 0.032 opt yielding 135,187 contained ounces in 1999. At December 31, 1999, inferred resources included in the current pit design were 2.2 million tons at a grade of 0.029 opt for total contained gold of 62,000 ounces.
Sample 1
Reserves and Resources. In connection with the Issuer’s Initial Public Offering and listing of global depositary receipts on the London Stock Exchange in December 2005, WAI reviewed the Group’s stated B and C1 reserves as at 13 June 2005 which were prepared by the Group using the FSU Classification. Based on this review, XXX prepared the statement set out below, which has been extracted without material adjustment from the ‘‘Technical Report’’, of the Group’s mineable resources which, in WAI’s view, could be upgraded to a higher resource category under the JORC Code if the necessary further exploration was undertaken. In addition, after such exploration, such reserves could be reclassified as ‘‘reserves’’ under the JORC Code if the necessary feasibility studies were undertaken. However, such further exploration and feasibility studies have not yet been undertaken and WAI has not reclassified the Group’s B and C1 reserves as either ‘‘reserves’’ or ‘‘resources’’ under the JORC Code. The Company intends to reclassify its reserves and resources over time under the JORC Code. XXX is expected to be retained to convert the reserves at Aksu, Bestobe and Zholymbet to the JORC Code and this work is to be concluded in 2007. The Technical Report has not been updated since 13 June 2005 and accordingly, does not therefore reflect changes to the Company’s reserves and resources arising from a number of factors including any potential existence of reserves and resources arising from the acquisitions in 2005, the adoption of a new mining plan and gold production since the date of the report. For information on some of the risks associated with ore reserve estimation, see ‘‘Risk Factors—Risks Relating to the Gold Mining Industry—Gold mining companies face many risks related to these operations (including their exploration and development activities) that may affect their cash flows and overall profitability—Ore reserve and resource estimation risks’’. Mine Ore Grade Gold Gold (millions of tonnes) (grams (thousands ofper tonne) kilograms) (millions of ounces) Underground************************************ 10.3 8.26 85.1 2.7 Open Pit *************************************** 29.0 2.06 59.7 1.9 Tailings **************************************** 7.8 0.97 7.6 0.2 Waste Dumps *********************************** 14.8 1.00 14.8 0.5 Total ****************************************** Bestobe 61.9 2.70 167.2 5.4 Underground************************************ 5.7 7.28 41.5 1.3 Open Pit **************************...
Sample 1
Reserves and Resources. (a) The Borrower shall ensure that it maintains (i) sufficient reported measured and indicated resources (in accordance with Ontario Securities Commission instrument NI 43-101) in a minimum amount (such amount, the Minimum Resources Undertaking) equal to [redacted for commercially sensitive information]; and (ii) [redacted for commercially sensitive information]. (b) The Borrower shall provide a certificate calculating the measured, indicated and inferred resources to the Lender within forty-five (45) days after the end of each fiscal quarter of each fiscal year based on internal calculations and technical report in accordance with NI 43-101 report on an annual basis in order to demonstrate compliance with subparagraph (i) above, and in respect of subparagraph (ii) above, shall satisfy the same with the delivery of the mine plan upon which each Annual Budget is based.
Sample 1
Reserves and Resources. Reserve and resource estimates have been prepared by Goldcorp's geological and engineering staff, employing definitions consistent with the recommendations published by the 1996 Canadian Institute of Mining and Metallurgy Ad Hoc Committee on Resources/Reserve Classification. The reserve study was performed at year-end of 1999 to reflect drilling results available at mid-December 1999. The reserves and resources have been audited by Wattx, Xxifxxx xxx McOuxx Xxxited, an independent geological and engineering consulting firm. All drilling results, geological boundaries, the mining plan and historical and expected future mining costs have been considered in calculating reserves employing the following procedures and parameters: - An independent laboratory assayed the split drill core using primarily fire assay. Metallic assay was used for samples with visible gold. - High grade assays have been reduced using the historical 2-5-10 cutting procedure. The 2-5-10 rule involves reducing assays greater than 10 ounces of gold per ton to 10 ounces, samples grading between 5 and 10 opt are reduced to 5 opt, and samples grading between 2 and 5 opt are reduced to 2 opt. The 2-5-10 cutting procedure was applied on normalized 2-foot samples. - Mineralized zones were interpreted on sections and level plans to ensure the continuity of each ore shoot. Ore intersections were calculated at a minimum horizontal width of 4 feet. The reserves were estimated using polygon techniques on vertical longitudinals. - Dilution is added as 1 foot of waste material at zero grade on each side of the zones. Average dilution is estimated at 20%. - The reserves were estimated at a gold price of $300 per ounce and a cut-off grade of 0.20 ounces of gold per ton. The extent of mineralization in the Red Lake property has not been fully delineated.
Sample 1
Reserves and Resources. Estimated mineral reserves and estimated mineral resources relating to the Project are at least as stated in (i) the most recently filed technical report prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects with respect to the Project or (ii) the most recently publicly stated reserves and resources with respect to the Project as publicly disclosed by Inmet.
Sample 1
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Reserves and Resources. The information relating to estimates by the Company of the proven and probable reserves at the Hycroft Project contained in the Time of Sale Information and the Prospectuses and the and the measured, indicated and inferred resources at the Hycroft Project contained in the Canadian Prospectus has been prepared in all material respects in accordance with NI 43-101. The Company believes that all of the material assumptions underlying such reserve and resource estimates are reasonable and appropriate, and, except as disclosed in the Time of Sale Information and the Prospectuses, that the projected capital and operating costs, production and operating results relating to its projects and summarized in the Registration Statement, the Time of Sale Information and the Prospectuses are achievable by the Company. Estimates of reserves as described in the Registration Statement, the Prospectuses and the Time of Sale Information comply in all material respects with the applicable requirements of Regulation S-K and Industry Guide 7 under the Securities Act. The information set forth in the Registration Statement, the Time of Sale Information and the Prospectuses relating to mineral reserves required to be disclosed therein pursuant to the Securities Act and the rules and regulations thereunder has been prepared by the Company in accordance with methods generally applied in the mining industry and conforms, in all material respects, to the requirements of the Securities Act and the Securities Act Regulations.
Sample 1

Related to Reserves and Resources

  • Mineral Reserves and Resources The most recent estimated, proven and probable mineral reserves and the estimated measured, indicated and inferred mineral resources of Yamana disclosed in Yamana Documents have been prepared and disclosed in all material respects in accordance with all applicable Laws. There has been no material reduction (other than as a result of operations in the ordinary course of business) in the aggregate amount of estimated mineral reserves and estimated mineral resources of Yamana on a consolidated basis from the amounts disclosed publicly by Yamana.

  • PROJECT FINANCIAL RESOURCES i) Local In-kind Contributions $0 ii) Local Public Revenues $200,000 iii) Local Private Revenues iv) Other Public Revenues: $0 - ODOT/FHWA $0 - OEPA $0 - OWDA $0 - CDBG $0 - Other $0 v) OPWC Funds: - Loan Assistance $0

  • Financial Resources The Adviser has the financial resources available to it necessary for the performance of its services and obligations contemplated in the Pricing Disclosure Package, the Prospectus, and under this Agreement, the Investment Management Agreement and the Administration Agreement.

  • Engineer Resources The Engineer shall furnish and maintain quarters for the performance of all services, in addition to providing adequate and sufficient personnel and equipment to perform the services required under the contract. The Engineer certifies that it presently has adequate qualified personnel in its employment for performance of the services required under this contract, or it will be able to obtain such personnel from sources other than the State.

  • Electric Storage Resources Developer interconnecting an electric storage resource shall establish an operating range in Appendix C of its LGIA that specifies a minimum state of charge and a maximum state of charge between which the electric storage resource will be required to provide primary frequency response consistent with the conditions set forth in Articles 9.5.5, 9.5.5.1, 9.5.5.2, and 9.5.5.3 of this Agreement. Appendix C shall specify whether the operating range is static or dynamic, and shall consider (1) the expected magnitude of frequency deviations in the interconnection; (2) the expected duration that system frequency will remain outside of the deadband parameter in the interconnection; (3) the expected incidence of frequency deviations outside of the deadband parameter in the interconnection; (4) the physical capabilities of the electric storage resource; (5) operational limitations of the electric storage resources due to manufacturer specification; and (6) any other relevant factors agreed to by the NYISO, Connecting Transmission Owner, and Developer. If the operating range is dynamic, then Appendix C must establish how frequently the operating range will be reevaluated and the factors that may be considered during its reevaluation. Developer’s electric storage resource is required to provide timely and sustained primary frequency response consistent with Article 9.5.5.2 of this Agreement when it is online and dispatched to inject electricity to the New York State Transmission System and/or receive electricity from the New York State Transmission System. This excludes circumstances when the electric storage resource is not dispatched to inject electricity to the New York State Transmission System and/or dispatched to receive electricity from the New York State Transmission System. If Developer’s electric storage resource is charging at the time of a frequency deviation outside of its deadband parameter, it is to increase (for over-frequency deviations) or decrease (for under-frequency deviations) the rate at which it is charging in accordance with its droop parameter. Developer’s electric storage resource is not required to change from charging to discharging, or vice versa, unless the response necessitated by the droop and deadband settings requires it to do so and it is technically capable of making such a transition.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and fully described and incorporated herein by this reference.

  • Tax Accounting Services (1) Maintain accounting records for the investment portfolio of the Fund to support the tax reporting required for “regulated investment companies” under the Internal Revenue Code of 1986, as amended (the “Code”). (2) Maintain tax lot detail for the Fund’s investment portfolio. (3) Calculate taxable gain/loss on security sales using the tax lot relief method designated by the Trust. (4) Provide the necessary financial information to calculate the taxable components of income and capital gains distributions to support tax reporting to the shareholders.

  • Additional Accounting Services Ultimus shall also perform the following additional accounting services for each Portfolio: (i) Provide monthly (or as frequently as may reasonably be requested by the Trust or a Portfolio's investment adviser) a set of financial statements for each Portfolio as described below, upon request of the Trust: Statement of Assets and Liabilities Statement of Operations Statement of Changes in Net Assets Security Purchases and Sales Journals Portfolio Holdings Reports (ii) Provide accounting information for the following: (A) federal and state income tax returns and federal excise tax returns; (B) the Trust's semi-annual reports with the SEC on Form N-SAR; (C) the Trust's annual, semi-annual and quarterly (if any) shareholder reports; (D) registration statements on Form N-1A and other filings relating to the registration of shares; (E) Ultimus' monitoring of the Trust's status as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended; (F) annual audit by the Trust's auditors; and (G) examinations performed by the SEC.

  • Interim Operations of the Company Except (i) as required by Law, (ii) as consented to in writing by Parent (which consent shall not be unreasonably withheld, delayed or conditioned), (iii) contemplated by this Agreement or (iv) as set forth in Section 6.1 of the Company Disclosure Schedule, from the date of this Agreement to the Effective Time the Company shall, and shall cause each of its Subsidiaries to, conduct its business only in the usual, regular and ordinary course consistent with past practice and use all reasonable efforts to preserve intact its current business organization, keep available the services of its current officers and employees and preserve its present relationships with customers, suppliers, licensors, licensees, distributors, Governmental Entities and others having business dealings with them to the end that its goodwill and ongoing business shall be unimpaired at the Effective Time. In addition, and without limiting the generality of the foregoing, except (w) as required by Law, (x) as consented to in writing by Parent (which consent shall not be unreasonably withheld, delayed or conditioned), (y) expressly permitted pursuant to this Agreement or (z) as set forth in Section 6.1 of the Company Disclosure Schedule, from the date of this Agreement to the Effective Time, the Company shall not, and shall not permit any of its Subsidiaries to, do any of the following: (a) except for Shares to be issued or delivered pursuant to the exercise of Options or Warrants, the settlement of RSUs or the lapsing of forfeiture restrictions of Restricted Stock Awards, each outstanding on the date hereof or the issuance of the shares of capital stock of any Subsidiary to the Company, issue, deliver, sell, dispose of, pledge or otherwise encumber, or authorize or propose the issuance, delivery, sale, disposition or pledge or other encumbrance of (i) any shares of its capital stock of any class or any other ownership interest, or any securities or rights convertible into, exchangeable for, or evidencing the right to subscribe for any shares of its capital stock or any other ownership interest, or any rights, warrants, options, calls, commitments or any other agreements of any character to purchase or acquire any shares of its capital stock or any other ownership interest or any securities or rights convertible into, exchangeable for, or evidencing the right to subscribe for, any shares of its capital stock or any other ownership interest (including “phantom” rights and stock appreciation rights), or (ii) any other securities of the Company and its Subsidiaries in respect of, in lieu of, or in substitution for, Shares outstanding on the date hereof; (b) redeem, purchase or otherwise acquire, or propose to redeem, purchase or otherwise acquire, any outstanding Shares, Options, Warrants or other securities of the Company or any of its Subsidiaries; provided, however, that the Company may (i) withhold Shares to satisfy Tax obligations with respect to Options, Restricted Stock Awards and RSUs granted prior to the date hereof pursuant to the Equity Plans or the Assumed Subsidiary Equity Plans and (ii) acquire Shares in connection with the surrender of Shares by holders of Options or Warrants in order to pay the exercise price of the Options or Warrants; (c) grant any Options, Restricted Stock Awards, RSUs or other equity-based awards or grant any options to purchase Shares under the Company’s 2007 Employee Stock Purchase Plan; (d) split, combine, subdivide or reclassify any Shares or declare, set aside for payment or pay any dividend in respect of any Shares or otherwise make any payments or distributions to stockholders of the Company or of any of its Subsidiaries that is not wholly owned (directly or indirectly) by Company in their capacity as such; (e) adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization of the Company or any of its Subsidiaries, other than the Merger; (f) acquire (i) by purchase, merger or otherwise, any business or equity interest of any Person or (ii) any asset or assets, except for purchases of components, raw materials or supplies in the ordinary course of business consistent with past practice or as permitted under Section 6.1(m); (g) sell, lease, license, mortgage, sell and leaseback or otherwise encumber or dispose of any of its properties or other assets or any interests therein, except for sales of inventory and used equipment in the ordinary course of business consistent with past practice; (h) incur any indebtedness for borrowed money in addition to that incurred as of the date of this Agreement or guarantee any such indebtedness or make any loans, advances or capital contributions to, or investments in, any other Person, other than to the Company and its wholly owned Subsidiaries, and other than to employees in respect of travel or other related expenses in the ordinary course of business consistent with past practice; (i) except as required by Law or except as required by the terms of a Benefit Plan in effect as of the date of this Agreement, (i) enter into an employment agreement with any Person or grant to any Person any right to severance, retention, change in control or termination compensation or benefits, or increase any Person’s rights thereto, (ii) grant any current or former director, officer or employee of the Company or any of its Subsidiaries, any increase in compensation other than, with respect to Persons who are not directors or officers and do not report directly to the Company’s President and Chief Operating Officer, ordinary course annual increases consistent with past practice, (iii) enter into, adopt, amend or terminate any collective bargaining agreement or employee benefit plan, program, policy, arrangement or agreement, or (iv) terminate the employment of or hire any Person whose annual compensation exceeded or is reasonably expected to exceed $100,000; (j) except as required by any Benefit Plan in accordance with its terms as of the date of this Agreement, take any action to fund or in any other way secure the payment of compensation and benefits under any Benefit Plan, take any action to accelerate the vesting or payment of any compensation or benefits under any Benefit Plan or materially change any assumption used to calculate funding obligations with respect to any Benefit Plan or change the manner in which contributions to any Benefit Plan are made or the basis on which such contributions are determined; (k) change any of the accounting methods used by the Company or its Subsidiaries unless required by GAAP or applicable Law; (l) amend the Company’s certificate of incorporation or the Company’s bylaws or other comparable charter or organizational documents of any Subsidiary of the Company, except as may be required by applicable Law and except for immaterial amendments under the charter or organizational documents of any Subsidiary of the Company; (m) authorize or make any commitment with respect to, any capital expenditure or other expenditures (including in respect of research and development), other than those which, individually, are less than or equal to $200,000 or, in the aggregate, are less than or equal to $1,000,000; (n) (i) pay, discharge, settle or satisfy any claims, liabilities, obligations or litigation (absolute, accrued, asserted or unasserted, contingent or otherwise), other than the payment, discharge, settlement or satisfaction in the ordinary course of business consistent with past practice or in accordance with their terms, of liabilities reserved against in the most recent Financial Statements of the Company included in the Filed SEC Documents (for amounts not in excess of such reserves) or incurred since the date of such Financial Statements in the ordinary course of business consistent with past practice, (ii) cancel any indebtedness, (iii) waive or assign any claims or rights of substantial value, (iv) waive any benefits of, or agree to modify in any respect, or, subject to the terms hereof, fail to enforce, or consent to any matter with respect to which consent is required under, any standstill or similar contract to which the Company or any of its Subsidiaries is a party or (v) waive any material benefits of, or agree to modify in any material respect, or, subject to the terms hereof, fail to enforce in any material respect, or consent to any matter with respect to which consent is required under, any material confidentiality or similar contract to which the Company or any of its Subsidiaries is a party; (o) waive the benefits of, or agree to modify in any material manner, any material confidentiality agreement or any standstill or similar agreement to which the Company or any of its Subsidiaries is a party; (p) except as required by applicable Tax Law, prepare or file any Tax Return inconsistent with past practice or, on any such Tax Return, take any position, make any election, or adopt any method that is inconsistent with positions taken, elections made or methods used in preparing or filing similar Tax Returns in prior periods; (q) sell, transfer or license to any person or modify any rights (i) to any material Company Intellectual Property Rights, except in the ordinary course of business consistent with past practice, or (ii) to distribute, license or co-promote any product of the Company or any of its Subsidiaries (including products under development and products licensed by the Company or any of its Subsidiaries); (r) enter into any material joint venture or partnership; (s) engage in any transactions, agreements, arrangements or understandings with any Affiliate or other Person that would be required to be disclosed under Item 404 of Regulation S-K under the Securities Act; (t) otherwise manage its working capital in a manner other than in the ordinary course of business consistent with past practice; (u) (i) enter into, amend, renew, modify or consent to the termination of (other than a termination in accordance with its terms) any Material Company Contract over $250,000 or Contract over $250,000 that would be a Material Company Contract if in effect on the date of this Agreement or (ii) amend, waive, modify, fail to enforce or consent to the termination of (other than a termination in accordance with it terms) its material rights thereunder; (v) create any Subsidiary; or (w) enter into any contract, agreement, commitment or arrangement to do any of the foregoing.

  • Title and Responsibilities During the Term of Employment, the Executive shall be employed as the Executive Vice President and Chief Legal Officer. In carrying out his duties under this Agreement, the Executive shall report directly to the President and/or Chief Executive Officer of the Company. During the Term of Employment, the Executive shall devote full time and attention to the business and affairs of the Company and shall use his best efforts, skills and abilities to promote the interests of the Company Group. Anything herein to the contrary notwithstanding, the Executive shall not be precluded from engaging in charitable and community affairs and managing his personal investments, to the extent such activities do not materially interfere with the Executive’s duties and obligations under this Agreement, it being expressly understood and agreed that, to the extent any such activities have been conducted by the Executive prior to the date of this Agreement and disclosed to the Board in writing prior to the date of this Agreement, the continued conduct of such activities (or, in lieu thereof, activities similar in nature and scope thereto) after the date of this Agreement shall be deemed not to interfere with the Executive’s duties and obligations to the Company under this Agreement. The Executive may serve as a member of the board of directors of other corporations, subject to the approval of a majority of the Board, which approval shall not be unreasonably withheld or delayed.

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