Net Smelter Return Royalty definition

Net Smelter Return Royalty means the royalty granted by this Schedule B.

Net Smelter Return Royalty has the meaning set out in Schedule “B” annexed hereto and forming a part hereof;

Net Smelter Return Royalty means a defined percentage of the gross revenue from a resource extraction operation, less a proportionate share of transportation, insurance, and processing costs.

Examples of Net Smelter Return Royalty in a sentence

• On October 18, 2006, the Company and the property vendor entered into a termination and sale agreement whereby the option agreement was cancelled and the Company purchased an undivided 100% interest in the property for a one-time payment of $5,000 subject only to an underlying 2.0% Net Smelter Return Royalty, of which the Company may buy back one half for $500,000.

• If either party becomes diluted to a 10% interest, that interest will be converted into a 2% Net Smelter Return Royalty.

• The property is subject to a 2% Net Smelter Return Royalty of which Callinex may purchase half for $1,000,000.

• In addition, a third party has a 2% Net Smelter Return Royalty on production from the Company’s Agi Dagi project.

• The Royalty Holder, upon written notice, shall have the right to have an independent firm of certified public accountants audit the records that relate to the calculation of the Net Smelter Return Royalty within two (2) months after receipt of a payment under Section 2.3.2. hereof.

More Definitions of Net Smelter Return Royalty

Net Smelter Return Royalty means a royalty payment made by a producer of metals, usually to a previous property owner or Governmental authority, based on the value of gross metal production from the property, less deduction of certain limited costs including smelting, refining, transportation and insurance costs.

Net Smelter Return Royalty means a royalty based on the gross proceeds received from the sale of minerals less the cost of smelting, refining, freight and other related costs.

Net Smelter Return Royalty shall have the meaning as set forth in Schedule B.

Net Smelter Return Royalty or “NSR” means the gross revenues as a payment realized from the disposition of product after deduction of limited deductions, such as cost incurred for sampling and assaying, transportation, insurance, treatment penalties, taxes on product or its disposition. A net smelter return is a share of the net revenues generated from the sale of metal produced by a mine;

Net Smelter Return Royalty means a royalty that may be payable to APM and/or a third party, as the case may be, each calendar quarter from the date that APM or the third party as the case may be becomes eligible to receive it, namely a royalty of 2% (two percent) of gross revenues received by Al Xxxxxx Mining from the sale of end products produced from mining activities over that part of the Exploration Area as specified in the BFS, (including but not limited to ore, concentrate and metal and mineral products of any kind derived from ore), after deduction of all of the following:

Net Smelter Return Royalty means the maximum three percent (3.0%) net smelter return royalty in favour of Xxxxxxx provided in the royalty agreement attached as Schedule C;

Net Smelter Return Royalty means the net smelter return royalty as defined in Schedule IV attached hereto.