Common use of Exploration and Development Expenditures Clause in Contracts

Exploration and Development Expenditures. Exploration and Development Expenditures shall mean the Company’s total costs and expenses incurred with respect to examining, exploring, and developing the Ashdown Mine pursuant to the Ashdown Joint Venture Agreement and all matters connected therewith incurred after the date of the Ashdown Joint Venture Agreement and prior to the Commencement of Commercial Production, including, without limitation, costs and expenses incurred with respect to the design and construction of any and all milling facilities, together with costs and expenses relating to geological, geochemical, and geophysical studies, feasibility studies, exploration and development drilling, sampling and assaying, mine design and development, the cost of any mining equipment or machinery purchased prior to the Commencement of Commercial Production, compliance with environmental and regulatory requirements, pre-production stripping, the construction of roads connecting the Ashdown mine to a central road system, and any other similar or related expenses incurred prior to the Commencement of Commercial Production and any attorney’s fees reasonably related to any of the foregoing.