CFR 0.00% 0.6¢ cluff resources pacific nl

for eddie -royalties/private land

  1. 1,978 Posts.

    Under the NSW Mining Act -Section 188 -2&3 the owner of private lands is not entitled to commence any prospecting or mining operation on any part of those lands for a mineral owned by him if that part of those lands is subject to a pending application for an authority. Effectively if you have an EL application as CFR have then Packer cannot just claim rights to the rubies.

    Under Section 96 if you are mining a mineral not reserved to the Crown you still pay the royalty but they reimburse you all but one eighth -so if you are correct that rubies were not reserved -then they won't have much royalty problems.

    In some States the farmer has the right of veto - in NSW you have to negotiate a compensation agreement as you have to in all States - but I don't think the present Mining Act in NSW gives them an absolute veto -unless it has been amended. But they can be damn difficult and with Packer you would not have much option other than to reach agreement !!
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