MINING OF GOLD AND MINERAL SPECIMENS Sample Clauses

MINING OF GOLD AND MINERAL SPECIMENS. In the event WG identifies unique gold or other mineral specimens during mining, it shall take reasonable measures to accommodate the collection of such specimens by MGE or its representatives, provided that such activity does not delay, or otherwise interfere with WG's exploration or mining operations. WG shall determine, in its sole discretion, whether and in what manner gold and other mineral specimen collection activities are allowable, based upon its exploration and mining plans. Within 30 days after MGE removes any gold or other mineral specimens from the Property, MGE shall deliver to WG, as payment, such specimens amounting to 50% of the total market value of the removed specimens. Any specimen removed by MGE shall be valued based upon a mutually accepted method. If MGE and WG are unable to agree on a mutually accepted valuation, the value of such specimens shall be independently determined by a committee of two third-party appraisers, with MGE and WG each selecting one appraiser. WG shall not be responsible for any Royalties on any gold specimens collected by MGE or its representatives. MGE shall be solely liable for any royalty obligation arising under the Underlying Agreements or any state, federal or local law, relating to the collection of gold specimens by MGE or its representatives.
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MINING OF GOLD AND MINERAL SPECIMENS. In the event WG identifies unique gold or other mineral specimens during mining, it shall take reasonable measures to accommodate the collection of such specimens by MGE-IW or its representatives, provided that such activity does not delay, or otherwise interfere with WG's exploration or mining operations. WG shall determine, in its sole discretion, whether and in what manner gold and other mineral specimen collection activities are allowable, based upon its exploration and mining plans. Within 30 days after MGE-IW removes any gold or other mineral specimens from the Property, MGE-IW shall deliver to WG, as payment, such specimens amounting to 50% of the total market value of the removed specimens. Any specimen removed by MGE-IW shall be valued based upon a mutually accepted method. If MGE-IW and WG are unable to agree on a mutually accepted valuation, the value of such specimens shall be independently determined by a committee of two third-party appraisers, with MGE-IW and WG each selecting one appraiser. WG shall not be responsible for any Royalties on any gold specimens collected by MGE-IW or its representatives. MGE-IW shall be solely liable for any royalty obligation arising under the Underlying Agreements or any state, federal or local law, relating to the collection of gold specimens by MGE-IW or its representatives.
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Related to MINING OF GOLD AND MINERAL SPECIMENS

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