Ann: Trading Halt, page-3

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Leroy82

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01/05/23

14:11

Post #: 67545220
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Originally posted by Clark888: ↑

For those that may have missed the Adelaide newspapers today, the Governor has made a proclamation on the Bird in Hand mine site that would prevent future applications for mineral tenements in the area but would not restrict Terramin's ability to undertake any required rehabilitation activities.

Governor Frances Adamson last Thursday (27 April 2023) proclaimed the Bird in Hand gold deposit following a request from the Malinauskas Government.

It means the Woodside site is now exempt from future mining applications because the sections of the Mining Act 1971 that regulate mineral prospecting, exploration licenses and mining leases no longer apply. See below for a copy of the Proclamation:

Governor proclamations have apparently been used in the past to protect sites such as the Mintabie Town Lease Area in the APY Lands and the Burra Monster Mine Historic Area in the Mid-North.

https://indaily.com.au/news/2023/05/01/bird-in-hand-proclamation-to-permanently-cork-mining/

It will be interesting to see if the above proclamation results in compensation to Terramin.

The other company impacted by this proclamation is Maximus Resources Limited (ASX: MXR).

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

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Thanks for the info mate. The question around compensation is indeed an interesting one.
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Ann: Trading Halt, page-3

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