Focus Minerals recently settled 102 applications for forfeiture against the company’s tenements. The settlement deed required Focus to make a $400,000 cash payment to the applicants and transfer 13 of its tenements to the applicants. Decisions like this have underscored the importance of the tenement holder’s expenditure obligations. It cannot be emphasised too strongly: it is vital to correctly resource and record in detail every aspect of expenditure functions, from compilation to calculation as well as reporting. Failure to do so could lead to forfeiture of the tenements.
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