Gold Equivalent Ounces definition
Gold Equivalent Ounces means, (i) the number of ounces of gold produced during a specific period (for purposes of this definition the “Milestone Period”), plus (ii) the number of ounces of silver produced during the Milestone Period expressed in additional ounces of gold (for the purposes of this definition, the “Gold Equivalent”). The Gold Equivalent shall be equal to the number of ounces of silver produced under (ii) above, divided by the quotient of (x) the average Gold Market Price for the trading days during the Milestone Period, and (y) the average Silver Market Price for the trading days during the Milestone Period.
Gold Equivalent Ounces means, for any particular Fiscal Year in respect of any Subject Producing Asset, the gold ounces plus the gold equivalent of non-gold ounces (with non-gold ounces converted to gold ounces based on the rolling five year average spot price per ounce at the time of such conversion calculation) produced from such Subject Producing Asset.
Gold Equivalent Ounces means (i) the number of ounces of Gold produced during a specific period (for the purposes of this definition, the “Milestone Period”), plus (ii) the number of ounces of Silver produced during the Milestone Period expressed in additional ounces of Gold (for the purposes of this definition, the “Gold Equivalent”). The Gold Equivalent shall be equal to the number of ounces of Silver produced under (ii) above, divided by the quotient of (x) the average price of Gold during the Milestone Period, and (y) the average price of Silver during the Milestone Period. Average Gold and Silver prices shall be determined by reference to the average daily settlement prices of these metals on the London Bullion Market Association, PM Fix (Bloomberg: GoldLNPM and SLVRLN Indexes, respectively). By way of example, if during the Milestone Period, 600 ounces of Gold and 60,000 ounces of Silver are produced and the average prices of Gold and Silver are $1,500 and $25, respectively, the number of Gold Equivalent Ounces shall be 1,600, calculated as follows: = 600 + [60,000 / (1,500 / 25)] = 1,600
Examples of Gold Equivalent Ounces in a sentence
At such time that Seller has delivered a cumulative total of 28,000 Gold Equivalent Ounces to Purchaser, Purchaser shall execute and deliver to Seller a full release of the Security Documents.
More Definitions of Gold Equivalent Ounces
Gold Equivalent Ounces means (i) the number of ounces of Gold plus (ii) the number of ounces of Silver expressed in its Gold Equivalent (as calculated below). “GOLD EQUIVALENT” shall be equal to the number of ounces of Silver under clause 4(b)(ii) above divided by the quotient of (x) the average price of Gold during the month, and (y) the average price of Silver during the month. Average Gold and Silver prices shall be determined by reference to the average daily settlement prices of these metals on the London Bullion Market Association, PM Fix (Bloomberg: GoldLNPM and SLVRLN Indexes, respectively). “PAYABLE GOLD EQUIVALENT OUNCES” means the number of saleable Gold Equivalent Ounces after losses due to metallurgical processing and smelter and/or refining deductions. The Performance Bonus shall be payable by Santa Fe at the end of the month immediately following satisfaction of either Performance Standard 1 or Performance Standard 2.