Net Smelter Royalty means that Net Smelter Royalty as defined in Schedule “B” attached hereto (“NSR”);
Net Smelter Royalty. (NSR) means a royalty payment based on the value of gross metal production from the property, less deduction of certain limited costs including smelting and refining, as defined by contract.
Net Smelter Royalty means the percentage of Net Smelter Return from time to time payable to the Optionor after Commencement of Commercial Production from the sale of Minerals.
Examples of Net Smelter Royalty in a sentence
The property is subject to a 2% Net Smelter Royalty (“NSR”), unless otherwise noted.
Basin will retain a 2% Net Smelter Royalty (“NSR”) on the Properties, 1% of which can be purchased by the Company for $1,000,000.
Under the terms of the agreement, Nevada Canyon made a US$1,000 payment on signing, will make annual payments of US$2,000 and will grant a 2% Net Smelter Royalty (“NSR”) on future production from the Lazy 1-3 claims comprising the Ashby property.
The Company paid USD$ 100,000 ($125,480) for the mineral claims, by way of a promissory note to the vendor and a Net Smelter Royalty (“NSR”) of 2.5%.
The vendors will retain a 2% Net Smelter Royalty, 50% of which can be purchased for $1,000,000.
More Definitions of Net Smelter Royalty
Net Smelter Royalty means that net smelter royalty as defined in Section 0 hereof;
Net Smelter Royalty as specifically defined below applies to the Commercial Production of all Minerals excluding diamonds and industrial minerals. “Gross Production Royalty” as specifically defined below applies to the Commercial Production of diamond and industrial minerals only.
Net Smelter Royalty means:
(a) in the case of gold or silver processed by a refinery, an amount equal to the number of ounces credited to the a party or parties by the refinery on the Final Settlement Date (as defined below), multiplied by the price per ounce as given in the London P.M./London Metal Exchange (LME) fixing (for gold) and the Handy and Xxxxxx base price (for silver) as published in The Wall Street Journal for the first business day following the Final Settlement Date (which amount shall be deemed to have been received by the party or parties), less Allowable Deductions, which term is defined below;
(b) in all other cases, the amount received by a party or the parties from any mill, smelter, refinery, reduction works, mint, or other purchaser in payment for Product mined from a Project Area and sold, less Allowable Deductions. In the event such Product is being shipped to a mill, smelter or other treatment facility owned and/or operated by a party, the net smelter returns as defined herein on which royalties are calculated shall be no less favourable to the other party or parties than if such Product had been shipped to the nearest competitive custom mill or smelter which would accept said Product.
Net Smelter Royalty shall have the meaning set out in Schedule C;
Net Smelter Royalty or "NSR" 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 Royalty means the existing 2% net smelter royalty on the Property evidenced by the NSR Agreement.
Net Smelter Royalty has the meaning set forth in Schedule "B".