For WA it works this way (NT probably similar):
For exploration licences you get 5 years. Year 3 requires 50% reduction, Year 4 another 50% reduction before relinquishment after year 5. - Unless you convert to a Prospecting or Mining Licence, but you need to have a resource.
Im not sure on the reason for dropping the tenements, but I can assure you that annual minimum expenditure is related to size, and TAM has (had) a huge landholding.
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For WA it works this way (NT probably similar): For exploration...
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3 | 159335 | 0.028 |
2 | 400000 | 0.027 |
2 | 350000 | 0.026 |
2 | 320000 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 51750 | 1 |
0.032 | 143646 | 1 |
0.034 | 1099915 | 2 |
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