Mineral Price Quotation

Mineral Price Quotation. For gold on any particular London Business Day, means the daily afternoon fix (closing price) on the London Bullion Market Association (commonly referred to as the "second London fixing," the "London Closing" the "London fixing p.m.") for gold on that London Business Day, as published by Metals Week, The Wall Street Journal or other publication of comparable reliability; and for any other mineral other than gold on any Comex Business Day, means the price of such mineral quoted at the close of... business on such day by the New York Commodity Exchange. If publication of the Mineral Price Quotation or trading on the London Bullion Market Association or New York Commodity Exchange shall be discontinued, the Payor shall select and utilize a comparable commodity quotation, reasonably acceptable to the Beneficiary, for purposes of calculating the Royalty. The Mineral Price Quotation for gold shall be for a troy ounce of gold of .995 minimum fineness. View More