Form 5A: Exploration, Development, and Mine Operating Agreement (1996)
Form 5A is designed for use in both the domestic and international mining industries. Substantive features include:
- Allocation of both pre-execution and post-execution environmental liabilities based on participating interests
- Definition of steps that must occur leading to development, including substantive and procedural requirements for prefeasibility and feasibility studies
- A more comprehensive approach governing transfers of participating interests
- A new approach to post-payout dilution
- Recognition of project financing requirements, including provisions addressing participants’ obligations to securitize development financing
- Segregation of particular areas within the area of interest in order to conduct separate operations
- Expansion of the responsibilities of the managing partner to ensure appropriate discipline in the context of junior and senior mining company relationships
- Expansion of the rights and remedies of non-defaulting participants to include powers of sale and purchase in addition to the typical dilution formulae
Published December 1996 – 171 pages (Word)
Order No. F5A
Published December 1996 – 171 pages (Word)
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