Hi All,Found this of interest for us all.It relates to the WA...

Hi All,

Found this of interest for us all.

It relates to the WA Mining Act and how the recent Warden Court determination may put our Lady Ida Project at real risk. Recent examples of where this has occurred is the freshly acquired Mt Gibson project by Capricorn Metals who acquired a significant gold project due to the holder not meeting the requirements of the Mining Act.

This deal was awarded the Diggers n Dealers deal of the year in 2022.




"Use it or lose it. It’s a widely accepted tenet of theresources sector from prospectors to mining giants.

Under the Mines Act 1978, tenementholders must explore the land they hold.

Minimum expenditure obligations aredesigned to ensure tenement holders are genuine in their efforts to exploretheir ground and are not sitting on land in the hope of some future payday, apractice known as land banking or tenement warehousing.

Anyone can lodge a plaint over atenement in the Warden’s Court alleging the holder has not met its minimumexpenditure obligations, and request for it be forfeited if they can provetheir case.

The court makes a recommendation tothe Minister, who then makes a decision.

If the forfeiture is granted, theplaintiff gets first option to apply for the tenement and, if granted, gets anopportunity to work the ground.

It’s a quasi self-regulatory systemthat has generally served the mining sector well."