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7.1¢ canyon resources limited

Yes sirhcdobo, that would be exactly how I would interpret it as...

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23

07/03/22

18:25

Post #: 60040119
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Originally posted by sirhcdobo: ↑

the permits (including the current ones we have) say that they are non renewable, but my reading of that is that the conditions of the permits are non renewable, so if we dont meet the conditions then the exploration permit lapses and we (most likely) wont be considered to renew them and they will (most likely) be handed to other operators. I believe this is to stop companies just land banking these tenements for the future and not doing any work to actually develop them. i believe that if we carry out our end of the exploration permit (which in this case is carry out some infill and add to the resource estimation) then we can reapply for another exploration permit (as i believe that even with the infill drilling the tenement would still not be in a position to apply for a ML) and the ministry will apply new conditions of what we have to achieve.

That is my understanding however i could be completely wrong

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Yes sirhcdobo, that would be exactly how I would interpret it as well.

Do the work and you get to keep the lease.

DYOR & GLTA

CAY Price at posting: 8.6¢ Sentiment: Buy Disclosure: Held
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