When gold metal is produced: gold-bearing material delivered to refinery within 3 months
31 When gold metal is produced: gold-bearing material delivered to refinery within 3 months
This regulation applies if gold-bearing material (other than material to which regulation 33 applies) is delivered to a refinery within the 3‑month refining period for the material.
Gold metal is taken to have been produced from the gold‑bearing material when the material is delivered to the refinery.
The amount of gold metal taken to have been produced from the gold-bearing material is —
the amount of gold metal produced from the material as verified by the refiner that produced the gold metal; or
if the amount of gold metal has not been verified by the refiner that produced it before the end of the period in which the royalty for the gold metal is required to be paid under regulation 10(2)(b) — the estimated amount decided by the Commissioner under regulation 34 in relation to the material.
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