Commercial Production

Commercial Production. The mining, extraction, processing and recovery for sale of Minerals from the Property, excluding the taking of Minerals from the Property for the purpose of bulk sampling or determining the amenability of the Minerals to beneficiation processes or mining.

Commercial Production. The commercial-scale operation of any part of the Property as a Mine by, or on behalf of, the Purchaser, but does not include processing of ore carried out in a pilot plant or processing ore for other testing purposes. Commercial Production shall be deemed to have commenced on the day immediately following the first 90 consecutive days during which Minerals have been produced by, or on behalf of, the Purchaser and processed at an average daily rate of not less than 75% of the rated capacity of... the production and processing facilities which is forecast by the bankable feasibility study upon which the decision to proceed to Commercial Production decision was taken View More