Let's break this down methodically.The exploration licence is...

Let's break this down methodically.

The exploration licence is what has expired.

The exploitation licence is what is being worked on.

Assume the worst case scenario:

• Exploration licence is not renewed
• Exploitation licence is still being worked on
• A different company submits for an exploration / exploitation licence for Haggan

An exploration licence from a different company would not be allowed within the year as discussed above.

The order of precedence in the event of multiple exploitation licence applications is explained here in Chapter 4

https://www.sgu.se/en/mining-inspectorate/legislation/mineral-act-199145/

Ideally, Aura would be holding the exploration permit: "If several persons have applied for a concession for the same area and more than one person may be considered in accordance with Section 2, the applicant holding an exploration permit within the area for any mineral covered by his or her application for a concession shall have precedence."

However, as a fallback, Aura will be preferenced for having previously undertaken the exploration work: "If none of the applicants holds an exploration permit, the applicant who has undertaken appropriate exploration work within the area shall have precedence."

In short, if they get their exploitation application in within the next year, they should be preferenced over any other applicant.