Frankell, as you know Kaiser just released a Tracker commenting on EVR's need to spend so much by certain times to earn in to their NCS jv's:
"Everest has made all the necessary property payments for Burnt River (230,000 acres) and Panny River (185,000 acres), but must spend $460,000 on Burnt River by Aug 1/99 to earn 25%, $277,500 on Panny River by Dec 1/98, and a further $462,500 by Dec 1/99 to earn 50%..."
This as an example, along with other such JV earn-in deals, fit into tighter time frames. But in terms of the actual claims stakings, the following applies.
Most of the land in Alberta was applied for in early to mid-1997 but the permits weren't issued until the February to April 1998 period. This means that the first assessment period extends into April 2000 for most packages. - Add three months grace to prepare the assessment reports and you are in mid-2000; then add another couple of months for the residual (i.e., unworked) portions to be put back into the free land classification. This realistically means that no meaningful blocks of land will appear for re-staking before the 4th quarter of 2000.
Until then, I think almost all claims in the area are held.
This can in part explain Ashton's tight-lipped, restraining stance for the now...
Just FYI!
regards,
-j
:>
MEO website:
montello.com |
