Grizzly1
I haven't seen the report but that sounds correct. Its common practice around the world for governments to require companies to spend minimum amounts on exploration as part of the terms of issue of an exploration licence (either annually or over the term of the licence) to make sure that they are granting exploration licences to companies that are reasonably serious about mining rather than hoarding tenements (although Western Australia seems to be an exception:-))
share price and cash, page-4
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