Final Assay definition

Final Assay means the final determination of the concentration of metals found in the Filter Cake as determined in accordance with Section 12 hereof and on which a final accounting of the return of metals by JM to SMC and the payment of treatment, refining and assaying charges by SMC to JM shall be based.
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Final Assay means, in respect of a Lot, an assay of type and quantity of Minerals, including Produced Platinum and Produced Base Metals, carried out for the purposes of final invoicing and payment further to the relevant Offtake Agreement, such assay to be carried out in accordance with Clause ‎2.9.
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Final Assay means, with respect to a specific Lot, the final settlement figures expressed as the amount of xxxx ounces per Short Ton of each Platinum Group Metal, determined in accordance with Section 8.3.
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Examples of Final Assay in a sentence

  • In the event that the umpire assay is exactly between the assay of the two Parties, the umpire assay shall be taken as the Final Assay.

  • Should the umpire assay fall outside the exchanged results, the assay of the Party which is nearer to the umpire assay shall be taken as the Final Assay.

  • Typically, Torio’s Field Assay slightly underestimates the amount of gold actually in the load, and thus, in the 6 years that Torio has conducted buy/sell operations, they have never paid the miners more than what the Final Assay determined to be in the load in terms of weight and purity of the gold.

  • The Actual total purchase price shall be calculated based on each refined kilo at Ninety Nine point Nine Hundred Ninety Five percent (99.995%) purity being paid at a discount of one percent (1.%) in United States Dollars to the LBMA Second Fixing on the day of the Buyer’s Refinery Final Assay Report.

  • Commodity : Unrefined Gold DORE BARS (Au) Quantity : Minimum signed in contract per month, on revolving basis is 50kgs initially to be reviewed upwards Shipment cycle : 30 days shipment (cycle repeats) Form : Metal Bars Form Purity : Ninety one point sixty six Percent (91.66%) Minimum More info : Purity calibrated 99.95 based on Buyer’s Refinery Final Assay.

  • Petersen and Rajan (1995) describe that initial asymmetric information creates adverse selection and moral hazard problems in which banks charge high rates initially and reduce rates in later periods after borrower types have been revealed.

  • By Order and Opinion dated June 30, 2004, the Court granted NYMEX Exchange’s motion and dismissed all of the antitrust counterclaims asserted against NYMEX Exchange.

  • Typically, Torio’s Field Assay slightly underestimates the amount of gold actually in the load, and thus, in the 6 years that Torio has conducted arbitrage operations, they have never paid the miners more than what the Final Assay determined to be in the load in terms of weight and purity of the gold.

  • The Parties shall agree to accept the result of each Final Assay Test as confirmed by the RefineryWho will issue an Assay Test Report Certificates.

  • Final payment shall be made against presentation of the following documents: Final Assay Report issued by the Buyer’s Refinery.


More Definitions of Final Assay

Final Assay means, with respect to a specific Lot, the final settlement figures expressed as the amount of xxxx ounces per Short Ton of each Platinum Group Metal, determined in accordance with Section 8.3. Exhibit 10.61 Annex B Portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. The omissions have been indicated by “[**Redacted**]”, and the omitted text has been filed separately with the Securities and Exchange Commission.
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Final Assay means the determination of the concentrations of metals in the PGM Concentrate on which the return of metals by Union Miniere to SMC will be based under this Agreement.
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Related to Final Assay

  • Acceptance Testing mean the tests, reviews and other activities that are performed by or on behalf of Agency to determine whether the Deliverables meet the Acceptance Criteria or otherwise satisfy the Agency, as determined by the Agency in its sole discretion.

  • Final Acceptance means final written acceptance of all the Work by the Commissioner, a copy of which shall be sent to the Contractor.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Final Acceptance Date means, in respect of any Offer, the final date for acceptance of such Offer which, if such Offer is extended prior to becoming unconditional, shall be the final date for acceptance of the extended Offer (but, if such Offer is or becomes unconditional, disregarding any additional or further period during which such Offer is open for acceptance);

  • Commercial Discovery means a Discovery of Petroleum reserves which has been declared as a Commercial Discovery in accordance with the provisions of Article 10 and/or Article 21.

  • Acceptance Tests means those tests performed during the Performance Period which are intended to determine compliance of Equipment and Software with the specifications and all other Attachments incorporated herein by reference and to determine the reliability of the Equipment.

  • Acceptance Test is a test of the Features executed by the Customer to prepare the acceptance.

  • Gasification means the substoichiometric oxidation or steam reformation of a substance to produce a gaseous mixture containing two or more of the following: (i) oxides of carbon; (ii) methane; and (iii) hydrogen;

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected.  Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Nuclear installation means any installation of such class or description as may be prescribed by regulations made by the relevant Secretary of State from time to time by statutory instrument, being an installation designed or adapted for: