If the Government was at fault allowing the State Agreement of Rhodes Ridge to lapse, how much $$$ has RIO already spent on exploration? IMO the Government could be up for a massive Sovereign Risk element in respect to compensation back to RIO!
This Government document refers specifically to Mining of Reserves (Conservation; National Parks; and Class "A" reserves).
"Hon SIMON O’BRIEN: What is meant by the reference to “sovereign risk issue”?"
Take a read of PDF page 25 (session 1 - page 8). The sovereign risk issue applies to any granted Exploration Licence. For example, the government is happy to grant you the EL for exploration, you can spend millions of dollars on exploration then at the end of the day, the Government doesn't grant you a Mining Lease! The Government is then liable for a compensation payment!
I'm sure the same will apply to Rhodes Ridge, the Government will have to pay RIO massive compensation! if (and I damn hope) CAZ is granted rights to Rhodes Ridge.
CAZ Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
