Marathon has its exploration assets listed as a non current asset valued at $15.9M in the 2011 Annual Report.
As this is an exploration project only, and it has not proceeded to a mining lease, I think it would be fair to assume that the most Marathon would be compensated for would be the carrying value of its exploration asset plus costs.
The state government may be challenged in the High Court, but even if Marathon wins the right to further exploration, they are a long way off from mining.
Consider Marathon lucky in my opinion if they get $15.9M for free from the government
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