Booking Note
QUANTITY AND QUALITY
5000 wet metric tons +/-10% in Seller‟s option expected to assay approximately as follows:
Element Assay CIQ Rejection Level

Cu %
22 - 30

Pb %
< 6 6

Zn %
5 – 10

Au g/t
0.5 - 2

Ag g/t
300 - 600

S %
28 - 33

As %
0.2 - 0.5 0.5

Bi ppm
100 - 300

Fe %
25 – 30

Co ppm
<25

Cd ppm
300 - 500 500

Sb %
0.1 - 0.3

Sn ppm
<50

Hg ppm
10 - 15 100

Se ppm
< 20

Te ppm
< 100

F ppm
200 - 600 1,000

Cl ppm
200 - 500

Al %
0.1 – 0.2

Ca %
0.1 – 0.2

Mg %
0.2 - 1

Si %
0.5 - 2

Mn ppm
< 200

SHIPMENT
The copper concentrate shall be shipped in.
Shipment is scheduled for, subject to suitable vessel availability.
If a fully workable letter of credit is not received by Seller‟s bank as specified in “Payment” below Seller
shall have the right but not the obligation to delay or suspend performance of any of its obligations under
the contract and/or terminate the contract. Any losses arising out of Buyer‟s failure to open a workable
letter of credit in time shall be for Buyer‟s account.

DELIVERY
CIF, China, as per Incoterms 2000.
PRICE
The price per dry metric ton of concentrate shall be the sum of the payments less the deductions specified
below:

Copper
% of the final copper content of the concentrate, subject to a minimum deduction of units, at the official
London Metal Exchange cash settlement quotation for Grade „A‟ Copper, as published in the Metal
Bulletin in US$ and averaged over the quotational period.

Silver
2
Deduct grams per dry metric ton of the concentrate and pay for % of the balance of the final silver
content of the concentrate at the official LBMA spot quotation for silver, as published in the Metal
Bulletin in US$ and averaged over the quotational period.

Gold
Deduct grams per dry metric ton of the concentrate and pay for % of the balance of the final gold content
of the concentrate at the mean of the official LBMA AM/PM quotation for gold, as published in the Metal
Bulletin in US$ and averaged over the quotational period.

Deductions
Treatment Charge
US$ flat per dry metric ton of the concentrate delivered CIF, China.
Refining Charges
Copper: US$ per payable pound of copper.
Silver: US$ per payable ounce of silver.
Gold: US$ per payable ounce of gold.
QUOTATIONAL PERIOD

The Seller has the option to price basis QP month.
PAYMENT
Letter of Credit
Payment shall be made by Buyer in US$ under a fully workable irrevocable letter of credit, to be opened
by a bank and in a form fully acceptable to Seller covering 100% (one hundred percent) of the cargo
value based on Seller‟s pro forma invoice value and allowing a tolerance of +/- 10% (plus/minus ten
percent) in both quantity and/or amount.

The letter of credit must be opened latest by.
Provisional Payment
90% (ninety percent) of the provisional invoice value of the concentrate, based on the bill of lading wet
weight, provisional moisture, provisional assays and the metal quotations applicable on the bill of lading
date, shall be paid against the presentation of the following documents:

1. 3/3 original „clean on board‟ Charter Party bills of lading, made out to order, blank endorsed and
marked freight payable as per Charter Party;
2. Seller's provisional invoice;
3. Provisional weight and moisture certificate;
4. Provisional assay certificate;
5. Insurance certificate

Final Payment
3
Final payment shall be made under the letter of credit against presentation of Seller‟s final invoice.
GENERAL PROVISIONS
This booking note and the contract shall be governed by and construed in accordance with English law.
All other terms and conditions shall be.
Buyer and Seller acknowledge and agree that this booking note constitutes a valid and binding agreement
between the parties.

Accepted: