Reserve Tail Ratio definition
Reserve Tail Ratio means for any calculation date, the quotient obtained by dividing (a) all of the Borrower’s remaining Proved Reserves as of such calculation date by (b) all of the Borrower’s Proved Reserves as of the date of this Agreement.
Reserve Tail Ratio means the ratio expressed as a percentage of:
Reserve Tail Ratio means, as of any particular date, the ratio expressed as a percentage of (A) the then current forecasted production from the Project of the aggregate of ounces of gold and silver through the remainder of the Life of Mine as set forth in the Base Case Financial Model divided by (B) the total forecasted production for the aggregate of ounces of gold and silver from the Project for the Life of Mine as set forth in the Initial Base Case Financial Model. For the purposes of this definition, production of Product shall be calculated in the manner set forth in the Base Case Financial Model utilizing the Proven and Probable Reserves verified and accepted by the Independent Technical Consultant."
Examples of Reserve Tail Ratio in a sentence
The Borrower shall at all times maintain the Reserve Tail Ratio so that it is greater than (i) 35% on the date on which the Total Commitment Amount has been permanently reduced to zero pursuant to Section 2.3, and (ii) 20% on the Maturity Date.
More Definitions of Reserve Tail Ratio
Reserve Tail Ratio means as of any date of determination, the ratio of (a) the then-current forecasted production of gold from the Project from the scheduled Maturity Date through the remainder of the life of the mine as set forth in the Base Case Financial Model to (b) the gold originally forecasted to be produced from the Project for the life of the mine in the initial Base Case Financial Model utilizing the proven and probable reserves based on the assumed metals price used by the Borrower in its reserves calculations for the most recent ended Fiscal Year and verified and accepted by the Independent Technical Consultant.
Reserve Tail Ratio means, as of any particular date, the ratio expressed as a percentage of (i) the then current forecasted consolidated production of ounces of contained gold from the Proven and Probable Reserves from the Maturity Date through the remainder of the Life of Mine as set forth in the Base Case Financial Model divided by (ii) the remaining Proven and Probable Reserves for contained gold forecast to be produced from the Projects for the Life of Mine as set forth in the Base Case Financial Model. For the purposes of this definition, production of gold shall be calculated in the manner set forth in the Base Case Financial Model utilizing the Proven and Probable Reserves verified and accepted by the Independent Engineer.
Reserve Tail Ratio. Percentage of Reserves projected to remain in the ground when the Facility is repaid, to the Reserves in the ground at the date of first drawdown. The Reserve Statement prepared by the Borrower and confirmed by the Independent Technical Consultant relating to the mining operations is to be in a form and substance satisfactory to the Lenders, showing a number of tons of ore and metal grades as proven and probable reserves as defined under Nl 43-101 or as agreed by the Lenders. The Development Plan shall be reconciled to this reserve statement.
Reserve Tail Ratio means, as of any date of determination, the ratio of the forecasted production of gold from the Project over the remainder of the life of the mine as set forth in the BCFM over the gold originally forecasted to be produced from the Project over the life of the mine in the Initial BCFM.
Reserve Tail Ratio means, on any date of determination and expressed as a percentage, the ratio of (a) projected payable silver equivalents contained in ore reserves projected to exist on the Maturity Date to (b) total payable silver equivalents contained in life of mine ore reserves as of the date of determination as described in then-effective Long-Term Plan.
Reserve Tail Ratio means at any Calculation Date, the ratio (expressed as a percentage) of A:B where:
Reserve Tail Ratio means, as of any particular date, the ratio expressed as a percentage of (a) the then current forecasted consolidated production of ounces of contained gold from the Proven and Probable Reserves for the Timmins/Thunder Creek Mine Complex and the ▇▇▇▇ Creek Complex from the Maturity Date through the remainder of the Life of Mine as set forth in the Base Case Financial Model divided by (b) the remaining Proven and Probable Reserves for contained gold forecast to be produced from the relevant Projects for the Life of Mine as set forth in the Base Case Financial Model. For the purposes of this definition, production of gold shall be calculated in the manner set forth in the Base Case Financial Model utilizing the Proven and Probable Reserves for the Timmins/Thunder Creek Mine Complex and the ▇▇▇▇ Creek Complex verified and accepted by the Independent Engineer.