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Wednesday, November 23, 2005

Govt warns exploration company over licence.

Govt warns exploration company over licence. 23/11/2005. ABC News Online

A Tasmanian minerals company is confident it will retain its exploration licence after receiving a warning from the state Government.

Great South Land Minerals was granted the licence more than a year ago to look for hydrocarbon deposits in central Tasmania.

It was issued on condition the company meet a minimum of 80 per cent of its exploration commitment on a year-by-year basis.

Company director Clive Burre, says Great South Land Minerals will be spending $4 million in early 2006.

"In that will give us sufficient targets to bring in a drill rig later in 2006 and that will mean we'll be spending a lot more than required by the Government," he said.

The company says a business merger has been one of the reasons for the delay.

1 Comments:

At 9:06 PM, November 24, 2005, Blogger randomwalker said...

there's a typo here --- it should be Clive Burrett -- he was for many years a lecturer in geology at TAsUni

 

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