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Not sure my post below is correct and covers Paterson - as I download the M2 document and could not find Greatland in the search.
https://www.ga.gov.au/about/projects/resources/paterson this page gives results of geolical studies done in paterson.
Anyway off to watch football.
This South Australia Govt link explains exploration licenses - when I have used this in the past found it hard t use
https://energymining.sa.gov.au/minerals/exploration/exploration_licensing
All the data is readily available on SARIG - this is MG33 document link https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/wci/Record;jsessionid=403FF5BCEF9B4E767F55D6604DC1A431
These are some of the new aims in the Jan 21 changes (everything is extremely complex)
Greater turnover of exploration licence areas through a 50% compulsory area reduction after 12
years and a maximum term of 18 years,
- Increased security of tenure through longer licence terms and decoupling of expenditure
commitment regulation from the licence renewal process,
- Increased focus on timely and genuine engagement between explorers, landholders and other
stakeholders throughout the exploration process,
- New expenditure commitment policy that features a low starting rate, scaling up to a mature
rate reflective of diligent on-going exploration,
- New policy on expenditure commitment noncompliance to work in conjunction with the lower
commitment rates to ensure that where the commitment is not being consistently met,
tenements will be strictly reduced and can ultimately be cancelled,
- Increased focus on new data acquisition/on-ground exploration work (minimum 60% of EL
expenditure) after the initial 2 years of a licence,
- New Amalgamated Expenditure Arrangement (AEA) policy that eliminates regular mandatory
AEA area reductions (due to mandatory reductions now required for every EL under the
amended Act), excludes ELs with active advanced prospects and has an increased focus on
spatial distribution of expenditure across the AEA area,
- New EL division and amalgamation processes to facilitate commercial dealings,
- New Retention Status on ELs to provide expenditure and area reduction relief if access approvals
are unable to be obtained or for ELs with uneconomic resources,
- Modernised mining register to provide greater transparency of information and greater
accommodation of, and protections for sophisticated commercial dealings,
- Forfeiture provisions expanded to include exploration licences as an additional means of
ensuring EL holder accountability
WelshFalcon.
It is all interesting stuff. Turn over in tenements means a company with money and an exploration background has great potential. Also lose a lot of money having lots of tenements and find no minerals.
Good to understand this so you can see how exploration companies come and go. Good knowledge for any investor.
Red, I focus on the other side of the equation.
How long is it before the other explorers in the area need to shed some assets. You know, the ones without a working mine and income.
There will always be a turnover in tenements, we just need to be ready to pounce (as our team seem perfectly well capable of).
I think Paddy posted something several months ago but I cant find it. It seems like a legal mine field to me. I believe that each tenement has to reach a particular stage before a certain date. If they don't hit the targets they have to re-apply of move on.
The article linked by dillon raises lots of questions. How much money do we have to spend on each tenement each year to keep the license? What is the total outgoing to keep each tenement.
Sadly, like most legislation it's not simple, and the questions you pose cannot be answered simply as there are numerous possibilities for each of your points. Good luck!
Thanks Dillion. A start, still need to learn more.
There may be three stages in the development of a mine:
Exploration. The exploration licence/permit generally gives the holder a conditional right of access to land to carry out exploration activities and sampling for a specified range of minerals. The exploration licence also gives conditional access to the land for supporting activities, but does not give any mining rights.
Commonly throughout the States and Territory's legislation, exploration permits and licences require the holder to carry out specified works to a particular value each year and are subject to periodic (often yearly) area reductions.
Retention/mineral development licence. The purpose of the retention title is to allow the holder to undertake an evaluation of potential mining activities (such as an evaluation of the economic development of a particular mineral) or to postpone development until it is commercially viable. The majority of States and Territories have some form of retention title.
Mining lease. If a holder of an exploration (or retention licence) discovers commercially viable minerals, they can apply for a mining lease. A mining lease generally allows the holder to extract specified minerals and to sell or otherwise dispose of them.
Hoping for a briefer tome, maybe a paragraph TT.
In terms of Western Australia this should all be covered under the 'Mining Act 1978', specifically Part IV, which covers 'Mining Tenements'. TT
You can download it here:
https://www.legislation.wa.gov.au/legislation/statutes.nsf/main_mrtitle_604_homepage.html
https://uk.practicallaw.thomsonreuters.com/8-576-7530?transitionType=Default&contextData=(sc.Default)&firstPage=true
This is interesting although I haven't had chance to fully read it. Might be worth a look if the link works.
Trying to get a better understanding the legal stuff around tenement and licenses. You get a tenement for a set period, depending on jurisdiction. After a set time you can lose your rights? What do you have to do to now keep that license so you can mine. What are the rules that allow an explorer keep the license so they can now mine. Looking at the Tasmanian prospects can we sell a license and make money. Will it expire unless we perform some specific task.