"6. In regard to the mining issue, Axiom say the tender process under the Act (the Mines and Minerals Act) and the Mines and Minerals Regulations ('the Regulations") was never engaged and even if it was the Director of Mines ("the Director") was obliged to refuse the application from SMM. With regard to the first point, Axiom argues there was no area specified in the tender notice nor had the Minister published a notice in the Gazette detailing the specified area. Axiom contends SMM already held three or more prospecting licences and the Act requires the Director to refuse further applications if the applicant holds that many licences and has not applied, in respect of them, for a mining lease or commenced mining . This is the provision against "land banking". etc, etc.
AVQ Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
