Contract
Certain confidential information contained in this document, marked by [***], has been omitted because Sunshine Silver Mining & Refining Corporation (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed.
July 1st, 2020
MEMORANDUM OF AGREEMENT
OPERACIONES SAN XXXX XX XXXXX S. DE C.V., SELLER and DOWA Metals & Mining Co., Ltd., BUYER, hereby agree to the following 2020 terms and conditions for the sales and purchase of Los Gatos zinc concentrate.
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1. |
Quantity |
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2020 production | ||||
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2. |
TC |
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$[***]/dmt | ||||
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3. |
Scale |
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None | ||||
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4. |
Metal payment |
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Zn : [***] with minimum deduction of [***] units at LME SHG settlement price published in London Metal Bulletin Ag : Deduct [***]/dmt and pay for [***] of the remaining silver content at LBMA silver price published in London Metal Bulletin | ||||
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5. |
Penalty |
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Fe : $[***]/ % over [***] | ||||
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As : $[***]/ 0.1% over [***] | ||||
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F: | ||||
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[***]ppm |
To |
[***]ppm |
US[***]/dmt |
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[***]ppm |
To |
[***]ppm |
US[***]/dmt |
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[***]ppm |
To |
[***]ppm |
US[***]/dmt |
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[***]ppm |
Over |
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US[***]/dmt |
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6. |
Quotational Period |
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Third calendar month following the month of vessel arrival at the discharge port (3MAMA) | ||||
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7. |
Settlement |
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1st provisional payment : [***]% value on 3rd business day after vessel arrival at Akita port
2nd provisional payment : [***]% value on 60th calendar days after vessel arrival at Akita port
Final payment : when all necessary information referenced in Section 12(c) of the Agreement is provided | ||||
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/s/ Xxxxx Xxxxxxx |
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/s/ Xxxxx Xxxx |
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SELLER: OPERACIONES SAN XXXX XX XXXXX S. DE C.V. |
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BUYER: DOWA METALS & MINING CO., LTD. |
