well in answer to your question of the 30 June voiceover, it doesnt effect the value of the asset ...... yet, although Carbine has lost a documented silica sand resource within its tenement boundary due to this VOLUNTARY surrender and depending on the area granted for the MLA may lose some additional ground if the entire area of the MLA is not granted.
Carbine was obligated under this part of the legislation to surrender 40% of its tenement area by 23 April 2023 but i believe this requirement and the tenement extension are independent events in my experience not one being dependent on the other unless no extension was granted in n which case 100% would be surrendered.
there was 35 blocks to choose 14 from to meet the surrender obligation , why you would choose 14 that have had the exploration budget expensed on to be assessed and documented and form the best part of your tenement going forward . this needs explanation here !!!!!
the object of the surrender requirement is that after 6 years exploration your endeavours should have determined what area in the tenement has the highest probability of producing the best product from your mining operation , which appears to have taken place here , so why wouldn't you surrender blocks outside this area , thats the object of the surrender obligation.
i always wondered why this MLA was so large , it couldn't be because of the proportions granted / ungranted for the adjacent VRX MLA could it ?
there are some difficult questions to be answered in all this , so who's asking the company these questions ?
CRB Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
