Net Smelter Returns definition
Net Smelter Returns means the gross proceeds received by the Purchaser in any year from the sale of Product from the mining operation on the Property, less successively:
(i) the cost of transportation of such Product to a smelter or other place of treatment, and
(ii) smelter and treatment charges;
Net Smelter Returns has the meaning set out in Schedule “B”;
Net Smelter Returns means the actual proceeds received by the Optionee from a smelter or other place of sale or treatment with respect to all ore removed by the Optionee from the Property as evidenced by its returns or settlement sheets after deducting from the said proceeds all freight or other transportation costs from the shipping point to the smelter or other place of sale or treatment but without any other deduction whatsoever.
Examples of Net Smelter Returns in a sentence
Notwithstanding anything else in this Section 5(c), at no time may the Royalty percentage share of Allowable Deductions exceed the amount of credits/payments that would otherwise be due and payable pursuant to the Royalty such that Net Smelter Returns are less than zero.
Notwithstanding the use of the Monthly Average Gold Price and Monthly Average Silver Price in the calculation of Net Smelter Returns, the Parties agree that receipt of in-kind credits by the Payee in compliance with this Section 5 shall constitute payment of the Royalty, notwithstanding any difference between the spot prices for gold and silver on the date of credit and the Monthly Average Gold Price and Monthly Average Silver Price, respectively, applicable to the Precious Metals credited.
More Definitions of Net Smelter Returns
Net Smelter Returns means the Gross Proceeds less Allowable Deductions.
Net Smelter Returns means the net proceeds actually paid to the Optionee from the sale by the Optionee of minerals mined and removed from the Property, after deduction of the following:
Net Smelter Returns means the net smelter returns from the production of Minerals from the Property as calculated and determined in accordance with Exhibit 1 attached to and part of Exhibit B attached to and part of the conveyance to be executed and delivered in accordance with Section 5.5.
Net Smelter Returns means the actual proceeds received from any mint, smelter or other purchaser for the sale of bullion, concentrates or ores produced from the Property and sold, after deducting from such proceeds the following charges to the extent that they are not deducted by the purchaser in computing payment:
Net Smelter Returns means the gross value of ores or concentrates shipped to a smelter or other processor (as reported on the smelter settlement sheet) less the following expenses actually incurred and borne by Lessee:
Net Smelter Returns means the proceeds received by BCEI from any smelter or other purchaser from the sale of any ores, concentrates or minerals produced from the Claim after deducting from such proceeds the following charges only to the extent that they are not deducted by the smelter or other purchaser in computing the proceeds:
(i) the cost of transportation of the ores, concentrates or minerals from the Claim to such smelter or other purchaser, including related transport;
(ii) smelting and refining charges including penalties; and ================================================================================
(iii) marketing costs.
Net Smelter Returns means the actual proceeds received by the Optionee from a smelter or other place of sale or treatment in respect of all ore removed by the Optionee from the Claims as evidenced by its returns or settlement sheets after deducting from the said proceeds all freight or other transportation costs from the Claims, to the smelter or other place of sale or treatment, but without any other deduction whatsoever. Net Smelter Returns due and payable to the Optionors hereunder shall be paid within sixty days after receipt of the said actual proceeds by the Optionee. Within ninety days after the end of each fiscal year during which any ore was shipped from the Claims the records relating to the calculation of Net Smelter Returns during that fiscal year shall be delivered to the Optionors, upon written request, who shall have sixty days after receipt of such statements to question their accuracy and failing such question, the statements shall be deemed correct. The Optionors or their representative duly appointed in writing shall have the right at all reasonable times upon written request to inspect such books and financial records of the Optionee as are relevant to the determination of Net Smelter Returns and at his own expense to make copies thereof.