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Gold/Mining/Energy : Montello Resources
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To: Famularo who wrote (2662)10/21/1998 10:07:00 PM
From: Jesse  Read Replies (1) of 4256
 
Frank, I believe what you're alluding to is a current claim holder dealing out the property if they don't intend to spend adequate funds themselves, prior to the deadline. They will still hold the lease claims until then (non-metallic mineral), and it does mean that if someone else wants that land before that, they'll have to finagle a deal w/ the holder. Until then the claim sits in their kitty.

Now we get into the grey area, as in the AB Gov't has decided to allow claims that come free to go to the highest bidder (again, which is why ACA etc would want to keep mum & make the lands look unappealing until that time has past!). If a co. wants to get the claim before it goes free from the current holder, they will have to make a deal with the holder and spend the necessary amount before the deadline. Any land that is not sufficiently spent-on (as in, so much per acre), will expire as per contracts. I doubt any company would prematurely "turn-in" their rights.

Hope this helps! ... ?
-j
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