I'm not sure what the lease number in question is but the law states that annual expenditure must be made on a tenement to ensure compliance & prevent the warden from taking it off you.
All RIO has had to do, legally, in the past 16 years is spend around $40/hectare, fill in the Form 5 expenditure report & no breach will have occurred. For a 1000ha tenement that could be as easy as having the fieldies camp up there for a few days & prorata-ing a bit of the corporate overheads & there's your $40k for the year without doing any real work.
It is common practice in prospecting circles to plaint a leaseholder & have them prove expenditure over a contested tenement. If they cannot prove that they are doing anything then the plaintiff wins the tenement. Happens all the time.
Hardrock.
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1.9¢ |
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Mkt cap ! $8.764M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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2.0¢ | 200000 | 2 |
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3 | 305000 | 0.018 |
4 | 378116 | 0.017 |
2 | 158000 | 0.016 |
2 | 300000 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.020 | 200000 | 2 |
0.021 | 45000 | 1 |
0.022 | 177681 | 3 |
0.023 | 140000 | 2 |
0.024 | 815465 | 2 |
Last trade - 11.52am 23/07/2025 (20 minute delay) ? |
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