Mining Reserves definition

Mining Reserves means, as of any date of determination, the proven and probable recoverable ounces of gold ore, as stated in the most recent NI 43-101 and accepted by the Independent Engineer, which are forecast to be recovered from, and produced over the life of, the Project.
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Mining Reserves means for any date, the proven and probable number of Ounces of Gold which remain to be recovered from, and produced at, the Mine as of such date.
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Mining Reserves has the meaning set forth in the recitals hereto.
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Examples of Mining Reserves in a sentence

  • The proven and probable open pit reserve estimate for the three pits on the project is as follows:Meadowbank Gold Project Open Pit Mining Reserves (Proven and Probable)** During 2004 the Company completed a two-phase exploration program at the Meadowbank property.

  • The design of the processing facilities described in the “Amended NI43-101 Independent Technical Mining Reserves Estimate and Feasibility Study on the Buckreef Gold Mine Project Tanzania East Africa” is reproduced in this section of this update.

  • Any sales, recording, transfer, use or other similar Taxes or fees imposed as a result of the transfer of the Mining Reserves to OLC, or the sale of the OLC Interests to CLECO and SWEPCO or the Purchased Assets to DHLC pursuant to this Agreement shall be borne by the applicable Purchaser or Purchasers.

  • The Mineral Resource at El Pilar exceeds the Mining Reserve scheduled for mining in the El Pilar Feasibility Study and additional Mineral Resources and Mining Reserves may be available at El Pilar subject to appropriate programs of drilling and confirmation.IMC performed a trade-off study of owner operation of the mining equipment versus contract mining.

  • Promptly and in any event within twenty (20) days of any material change to the estimated Mining Reserves, and no less frequently than annually, deliver to the Administrative Agent, the Technical Agent and each Lender an updated Mining Reserves estimate.

  • Except for Taxes referred to in Section 6.6, (i) Sellers have timely paid, or will timely pay, all Taxes that include or relate to the Mining Reserves or the Purchased Assets that will have been required to be paid on or prior to the Closing Date, and (ii) Sellers have made, or will prior to Closing make, adequate provision to pay when due all Taxes that include or relate to the Mining Reserves or the Purchased Assets after the Closing Date pursuant to Section 6.7.

  • Suncor does not disclose its mining reserves on a net basis as it is continuing to discuss the terms of its option to transition to the Province of Alberta’s generic bitumen-based royalty regime in 2009 and accordingly the net mining reserves calculation cannot be estimated (see Required U.S. Oil and Gas and Mining Disclosure – Proved and Probable Oil Sands Mining Reserves).

  • All Technical Information solely and directly pertaining to the Land and/or the Mining Reserves which (i) is in Seller’s possession, and (ii) Seller is able to readily locate after reasonable effort, it being agreed that, due to the antiquated nature of such data, Seller’s ability to locate Technical Information may be limited.

  • Each Purchaser shall provide copies of all relevant sales tax exemption certificates with respect to the Mining Reserves or the Purchased Assets to Sellers at the Closing.

  • YTD 2009 Mine Life Mine Production Mining Reserves Variance % Mine Production Mining Reserves Variance % Pit Pay Caro (Dec08 BM) Tonnage (t) 1,952,820 1,868,908 4% 18,860,525 17,440,824 8% Grade (g Au/t) 1.23 1.07 15% 1.45 1.48 -2% Ounces diff.


More Definitions of Mining Reserves

Mining Reserves has the meaning ascribed to such term in Section 2.01(d) of this Agreement.
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Related to Mining Reserves

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Proved Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves”, (b) “Developed Non-Producing Reserves” or (c) “Undeveloped Reserves”.

  • Required Reserves at any time means the product of (x) the Net Pool Balance and (y) the greater of (I) 13.00% and (II) the sum of (a) the Yield Reserve Ratio, plus (b) the Servicing Fee Reserve Ratio, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

  • Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Mineral Reserve means the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allowances for losses that may occur when the material is mined.

  • Oil and Gas Properties means (a) Hydrocarbon Interests; (b) the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; (c) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (d) all operating agreements, contracts and other agreements, including production sharing contracts and agreements, which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; (e) all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (f) all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (g) all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment, rental equipment or other personal Property which may be on such premises for the purpose of drilling a well or for other similar temporary uses) and including any and all oil xxxxx, gas xxxxx, injection xxxxx or other xxxxx, buildings, structures, fuel separators, liquid extraction plants, plant compressors, pumps, pumping units, field gathering systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters, apparatus, equipment, appliances, tools, implements, cables, wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing.

  • Oil and gas means petroleum, natural gas and other related hydrocarbons or minerals or any of them and all other substances produced or extracted in association therewith.

  • Proven Mineral Reserve means the economically mineable part of a Measured Mineral Resource. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.

  • Gas well means a well producing gas or natural gas from a common source of gas supply as determined by the commission.

  • Proved Developed Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves” or (b) “Developed Non-Producing Reserves.”

  • Proved Developed Non-Producing Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and “Developed Non-Producing Reserves.”

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Oil and Gas Hedging Contracts means any oil and gas purchase or hedging agreement, and other agreement or arrangement, in each case, that is designed to provide protection against price fluctuations of oil, gas or other commodities.

  • Probable Reserves under SEC Industry Guide 7 means reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.