Proven and Probable Reserves definition

Proven and Probable Reserves means the aggregate of the Proven Mineral Reserves and Probable Mineral Reserves of gold, as such terms are defined in and measured in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves Definition Guidelines then applicable for the grade and contained amount of the gold scheduled for extraction, and demonstrated to be mineable at a profit at a stated price.

Proven and Probable Reserves means, at any date, reserves of Gold at the Mine as determined and calculated, in accordance with standards established from time to time by the Joint Ore Reserve Committee of the Australasian Institute of Mining and Metallurgy, the Minerals Counsel of Australia and the Australian Institute of Geoscientists.

Proven and Probable Reserves means, at any time, “Proven Mineral Reserves” and “Probable Mineral Reserves” of gold at the Marigold Project, as determined and calculated in accordance with the standards set forth in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) issued by the Canadian Securities Administrators (including its Companion Policy 43- 101 CP and Form 101F1Technical Report).

Examples of Proven and Probable Reserves in a sentence

• This calculation is based solely on the San Martin mine proven and probable reserves and a percentage of inferred resources in accordance with the Company’s policy of recognizing the value of expected Resources which will be converted to Proven and Probable Reserves, as assessed by management.

• See Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated, and Inferred Resources and Proven and Probable Reserves above.

• This calculation is based solely on the San Martin mine proven and probable reserves and a percentage of inferred resources (excluding San Pedrito) in accordance with the Company’s policy of recognizing the value of expected Resources which will be converted to Proven and Probable Reserves, as assessed by management.

• Future recoverable mine production is determined from Proven and Probable Reserves and Measured, Indicated and Inferred Mineral Resources, net of losses during ore processing and treatment.

• Cash flow estimates of recoverable production are risk-adjusted to reflect relative geological uncertainty, with Proven and Probable Reserves and Measured and Indicated Resources assigned a lower discount rate and Inferred Resources assigned a higher discount rate.

More Definitions of Proven and Probable Reserves

Proven and Probable Reserves means the aggregate of the Proven Mineral Reserves and Probable Mineral Reserves of Product for the Project, as such terms are defined in and measured in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves Definition Guidelines for the grade and contained amount of Product scheduled for extraction, and demonstrated to be mineable at a profit at a stated metal price. "PTE" means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

Proven and Probable Reserves means, at any date, reserves of Gold at ---------------------------- each Principal Mine (limited, in the case of the Xxxxxxx Mine, to the Borrower's pro rata interest therein based on its direct or indirect percentage ownership interest of the Xxxxxxx Mine) as determined and calculated in accordance with standards established from time to time by the SEC and as set forth in the most recent annual report on Form 10-K or quarterly report on Form 10-Q filed by the Borrower with the SEC.

Proven and Probable Reserves means deposit reserves, as determined on an annual basis by the Manager, which are classified as proven reserves or probable reserves according to the Australasian Code for Reporting of Mineral Resources and Ore Reserves prepared by the Australasian IMM Joint Ore Reserves Committee.

Proven and Probable Reserves means (a) initially, 600,000 Ounces, less the amount of Ounces mined and shipped and in respect of which a royalty has been paid in compliance with each Royalty Agreement (provided that nothing in this paragraph (a) shall be construed as a representation by the Borrower that the actual proven and probable reserves as at the date hereof are 600,000 Ounces; and (b) thereafter, the amount of reserve Ounces established pursuant to Clause 2.5 to be the reserves of Ounces at the Mine, determined and calculated as set forth in the Development Plan (or the most recent amendment thereto) (or, to the extent not set forth therein, to the reasonable satisfaction of the Independent Engineer) and in accordance with the standards of Canada's National Instrument NI 43-101 less the amount of Ounces mined and shipped since the effective date of such Development Plan (or, if amended from time to time, since the last such amendment) and in respect of which a royalty has been paid in compliance with each Royalty Agreement.

Proven and Probable Reserves means, at any date, "proven reserves" and "probable reserves" (as such terms are defined in the JORC Code in effect on such date);

Proven and Probable Reserves means the aggregate of the Proven Mineral Reserve and Probable Mineral Reserve for silver, lead and zinc for the Project, as such terms are defined in and measured in accordance with U.S. Securities and Exchange Commission Guide 7.

Proven and Probable Reserves means, at any date, "Proven Mineral Reserves" and "Probable Mineral Reserves" of Gold and Silver at the Kupol Project, as determined and calculated in accordance with the standards set forth in National Instrument 43-101 (NI 43-101) (Standards of Disclosure for Mineral Projects) issued by the Canadian Securities Administrators (including its Companion Policy 43-101 CP and Form 43-101F1 Technical Report; and the terms "Proven Mineral Reserves" and "Probable Mineral Reserves" as used in this definition shall have the meanings provided in such Companion Policy).