Third party evaluation definition
Third party evaluation means a detailed evaluation, conducted by a third party engineering firm selected by Strathmore and agree to by AUC, that calculates the weight in lbs. of Measured, Indicated and/or Inferred Mineral Resources consisting of U3O8 based on a cut-off grade of 0.025% on the Property based upon the information and results from previous exploration and development work conducted on the Property, including the results from the work funded by AUC and conducted on the Property after the Effective Date.
Third party evaluation means an evaluation of a method or system including, but not limited to, a release detection system or tank integrity assessment method that is conducted by an independent organization. The evaluation includes certification that the method evaluated will operate as designed and includes information about any limitations of the method. As used in this definition, "independent" means that the organization that conducted the evaluation may not be owned, controlled by or associated with any client, industry organization or any other institution with a financial interest in the method or system evaluated.
Third party evaluation means evaluation in which the entity conducting project entrusts an external third-party organization with all the evaluation processes.