First Amendment to Amended and Restated Golden Eagle Earn-in Agreement between Echo Bay Mines Ltd. and Hecla Mining Company
Contract Categories:
Business Finance
›
Modification Agreements
Summary
Echo Bay Mines Ltd. and Hecla Mining Company have amended their existing Golden Eagle Earn-in Agreement. The amendment extends the deadline for Echo Bay to provide a feasibility study to Hecla until December 31, 2004, and updates the list of properties included and excluded from the agreement. All other terms of the original agreement remain unchanged. This amendment clarifies the parties' obligations and the specific properties involved in their joint mining venture.
EX-10.6(C) 8 hecla024510_ex10-6c.txt AMENDED AND RESTATED GOLDEN EAGLE EARN-IN AGRMT Exhibit 10.6(c) FIRST AMENDMENT TO THE AMENDED AND RESTATED GOLDEN EAGLE EARN-IN AGREEMENT This First Amendment ("First Amendment") to the Amended and Restated Golden Eagle Earn-in Agreement ("Earn-in Agreement") is entered into and effective this 5th day of September, 2002, by and between Echo Bay Mines Ltd. ("Echo Bay"), a Delaware corporation, and Hecla Mining Company ("Hecla"), a Delaware corporation. RECITALS WHEREAS, Santa Fe Pacific Gold Corporation ("SFPG") and Hecla entered into the Earn-in Agreement and the Golden Eagle Operating Agreement ("Operating Agreement") both dated and effective September 6, 1996, whereby SFPG acquired an undivided 75% interest in the Joint Properties (as described therein) and the right to receive conveyance of an undivided 75% interest in Hecla's Properties (as described therein); and WHEREAS, on May 5, 1997, SFPG became a wholly owned subsidiary of Newmont Gold Company ("Newmont"). SFPG subsequently merged into Newmont on December 29, 1999; and WHEREAS, on July 7, 2000, Newmont, as successor to SFPG, assigned all of its rights, titles and interests under the Earn-in Agreement and the Operating Agreement to Echo Bay; and WHEREAS, Echo Bay and Hecla desire to amend certain portions of the Earn-in Agreement; NOW THEREFORE, in consideration of the mutual benefits to be derived by the parties hereto from this First Amendment, Echo Bay and Hecla agree to amend the Earn-in Agreement as follows: AGREEMENT 1. Section 5.1 - Initial Payment and Contributions; Earn-in Expenditures; Feasibility Study. The second sentence of paragraph (c) shall be deleted and replaced with the following: Echo Bay (as successor to SFPG) must provide the Feasibility Study to Hecla, if at all, on or before December 31, 2004, subject to Echo Bay's right to withdraw under Section 10.2. First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 1 of 2 2. Exhibit A, Part 1 - Properties to be Contributed by Hecla ("Hecla's Properties"), shall be amended to exclude the properties as listed in Exhibit A to this First Amendment, entitled "Properties to be Excluded from Earn-in Agreement," attached hereto and by this reference made a part hereof. The remaining properties subject to the Earn-in Agreement as amended herein are set forth in Exhibit B, Parts I and II to this First Amendment, entitled "Hecla Properties Subject to Earn-in Agreement," "Leases, Permits & Easements" and "Joint Properties," attached hereto and by this reference made a part hereof. 3. Other Provisions. All other provisions of the Earn-in Agreement shall remain in full force and be binding upon the parties hereto. IN WITNESS WHEREOF, the parties hereto have signed and accepted the terms and conditions of this First Amendment to the Earn-in Agreement as of the date first hereinabove written. HECLA MINING COMPANY ECHO BAY MINES LTD. By: By: -------------------------------- -------------------------------- Name: Name: ------------------------------ ------------------------------ Title: Title: ----------------------------- ----------------------------- First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 2 of 2 ------------------------------------------------ EXHIBIT A - ATTACHED TO THE FIRST AMENDMENT OF THE AMENDED AND RESTATED GOLDEN EAGLE EARN- IN AGREEMENT DATED SEPTEMBER ___, 2002 ------------------------------------------------ EXHIBIT A PROPERTIES TO BE EXCLUDED FROM EARN-IN AGREEMENT REPUBLIC PATENTED CLAIMS
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 1 of 7 EXHIBIT A - REPUBLIC PATENTED CLAIMS (CONTINUED)
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 2 of 7 EXHIBIT A - REPUBLIC PATENTED CLAIMS (CONTINUED)
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 3 of 7 EXHIBIT A - REPUBLIC FEE LAND
EXHIBIT A - GOLD MOUNTAIN RANCHES
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 4 of 7 EXHIBIT A - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 5 of 7 EXHIBIT A - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 6 of 7 EXHIBIT A - UNPATENTED MINING CLAIMS
Exhibit A to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 7 of 7 --------------------------------------------- EXHIBIT B - ATTACHED TO THE FIRST AMENDMENT OF THE AMENDED AND RESTATED GOLDEN EAGLE EARN-IN AGREEMENT DATED SEPTEMBER ___, 2002 --------------------------------------------- EXHIBIT B - PART I HECLA PROPERTIES SUBJECT TO EARN-IN AGREEMENT REPUBLIC PATENTED CLAIMS
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 1 of 15 EXHIBIT B - REPUBLIC PATENTED CLAIMS (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 2 of 15 EXHIBIT B - REPUBLIC PATENTED CLAIMS (CONTINUED)
EXHIBIT B - REPUBLIC FEE LAND
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 3 of 15 EXHIBIT B - REPUBLIC FEE LAND (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 4 of 15 EXHIBIT B - REPUBLIC FEE LAND (CONTINUED)
GOLD MOUNTAIN RANCHES
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 5 of 15 EXHIBIT B - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 6 of 15 EXHIBIT B - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 7 of 15 EXHIBIT B - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 8 of 15 EXHIBIT B - GOLD MOUNTAIN RANCHES (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 9 of 15 UNPATENTED MINING CLAIMS
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 10 of 15 EXHIBIT B - UNPATENTED MINING CLAIMS (CONTINUED)
Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 11 of 15 EXHIBIT B - PART II LEASES, PERMITS & EASEMENTS Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 12 of 15 EXHIBIT B - PART II (CONTINUED) LEASES, PERMITS & EASEMENTS Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 13 of 15 EXHIBIT B - PART II JOINT PROPERTIES Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 14 of 15 EXHIBIT B - PART II (CONTINUED) JOINT PROPERTIES Exhibit B to First Amendment to Amended & Restated Earn-in Agreement Echo Bay and Hecla Page 15 of 15