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Gold/Mining/Energy : Rock Resources
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To: the Chief who wrote (41)11/9/1997 3:16:00 PM
From: Feline  Read Replies (1) of 1996
 
The compensation package was actually C$166 million but it would be erroneous to suggest that Royal Oak "received" this money. It was part of a politically very complex process that only avoided litigation. I doubt that Geddes would have won anything close to the $166 if it went to court if the settlement wasn't part of a scheme to develope an uneconomic mine (Kemess). Geddes had to prove that they actually had an "interest" in the property and exploration expenditures don't count. They may have tried the "goodwill" argument but the government didn't have to listen to that one either. In law, claims at the exploration stage do not provide the owner with an interest in the claims. The property is still a chattel of the crown until surface rights are either garnted by the crown or purchased by the exploration company from the crown. Geddes had neither.
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