I looked at Dept of Mines this morning on the Wesfarmers tenement M77/1080 which is the Earl Grey Lithium deposit and noticed the following;
Forfeiture 720036 Initiated :22/11/2024 for non-compliance with royalty provisions
RECORDED :10:54:15 25 November 2024
Notice Issued :Regulation 50 Notice sent 22/11/2024 for non-compliance with royalty provisions pursuant to Sec 82(1)(a).
Compliance Date : 06/01/2025
Effectively the Mines Dept has issued a forfeiture notice against the tenement for not paying State royalties i think !!
Wesfarmers also have a gold reserve/resource in these tenements which i understand all minerals belong to the State but mining companies rent/lease and pay royalties which assist in Western Australian Government development projects.
So IMO Wesfarmers isnt developing the gold which is in the best interests of the State and tax payers !
WES Price at posting:
$72.23 Sentiment: None Disclosure: Not Held
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