Average Gold Price means, for any calendar month, the average daily P.M. price fixing for gold by the London Bullion Association as reported in The Wall Street Journal or any other agreed upon successor publication for the applicable calendar month.
Average Gold Price means the average LBMA Gold Price (afternoon fix) as published by the LBMA on its website (or should that quotation cease, another similar quotation acceptable to the Parties, acting reasonably) calculated by summing such quoted prices reported for each day and dividing the sum by the number of days for which such prices were reported.
Average Gold Price means the average “London Bullion Market Association (LBMA) P.M. USD Gold Fix” as published by the LBMA on its website (or should that quotation cease, then means the average spot price as published by COMEX on the CME Group website or should that quotation cease, another similar quotation acceptable to the Parties, acting reasonably) calculated by summing such quoted prices reported for each day (or the average of all such prices reported for each such day, if more than one) and dividing the sum by the number of days for which such prices were reported;
Examples of Average Gold Price in a sentence
The Gross Value shall be determined by multiplying Gold Production during the month by the Monthly Average Gold Price.
The key assumption used in the valuation of the derivative is the estimate of the future Average Gold Price.
The estimate of the future Average Gold Price was determined using a forward curve on future gold prices as published by the CME Group.
If the Average Gold Price is less than USD 720/oz, there will be no additional contingent payment.
At the time of payment of the royalty, Payor shall accompany such payment with a statement which shows in detail the quantities and grades of refined gold, silver or other metals or dore, concentrates or ores produced and sold or deemed sold by Payor in the preceding month; the Monthly Average Gold Price and Monthly Average Silver Price, as applicable; costs and other deductions, and other pertinent information in detail to explain the calculation of the payment with respect to such month.
More Definitions of Average Gold Price
Average Gold Price means the average LBMA (PM) Gold Price as quoted by ICE Benchmark Administration, or in the absence of the LBMA (PM) Gold Price, such other spot gold market benchmark agreed between Seller and Buyer, determined over a period of 90 days immediately preceding the day the Sulphides Decision to Proceed is made or occurs;
Average Gold Price means, with respect to any fiscal quarter, the average of the London P.M. Gold Price Fixes, if any, for each day during such fiscal quarter.
Average Gold Price shall equal $15.00;
Average Gold Price during any period means the result obtained by dividing the sum of the Spot Price of Gold on each day during that period by the number of days that prices were posted during that period;
Average Gold Price means the average gold price received by Freegold per kilogram of Gold from the sale by Rand Refinery, on behalf of Freegold, of Gold in a Relevant Month;
Average Gold Price means, for any Payment Period, the average LBMA Gold Price in U.S. dollars quoted by the London Bullion Market Association for the immediately prior calendar month, as reported by the London Bullion Market Association, or if not so reported, the simple average of the per ounce daily LBMA Gold Price in U.S. dollars as quoted by the London Bullion Market Association; provided that if for any reason, the London Bullion Market Association is no longer in operation or the price of gold is not confirmed, acknowledged or quoted by the London Bullion Market Association, such price shall be determined by reference to the price of gold on another commercial exchange mutually acceptable to the Parties (acting reasonably);
Average Gold Price means, for any calendar month, the average daily P.M. price fixing for gold by the London Bullion Association as reported in The Wall Street Journal or any other agreed upon successor publication for the applicable calendar month. “Bouroum Lands” means all of the land included in the Bouroum Permit, being approximately 11.7 square kilometers, which land is more particularly described in Schedule A attached hereto. “Bouroum Permit” means Decree No. 2005-342/PRES/PM/MCE/MFB issued by the Government of the Republic of Burkina Faso on June 21, 2005, a copy of which is attached hereto as Schedule A. “Government” means the Government of the Republic of Burkina Faso, including, without limitation, the executive, legislative and judicial branches thereof, including, without limitation, the Ministry for Energy and Mines. “Somita’s Account” means Somita’s metals account at Citibank NA in London, England, or such other metals account as Somita may hereafter establish. “Interests” means the Tail Royalty Equivalent and the Milling Fee Equivalent, collectively. “Lands” means the Bouroum Lands and the Taparko Lands. “Milling Fee Equivalent” has the meaning set forth in Section 2.2. “Month” means a calendar month. “Tail Royalty Equivalent” has the meaning set forth in Section 2.1. “Taparko – Bouroum Project” means development and exploitation of the Taparko Lands and the Bouroum Lands for production of gold and associated precious metals, including construction of a mine, support facilities and the Taparko Processing Facility. Execution Version