Indicative Minimum Expenditure for Exploration Licences: Year One $10,000 plus $ 150 per block Year Two $10,000 plus $ 250 per block 3 Explanatory notes for expenditure reports The intention of expenditure reporting is to capture and monitor mineral exploration costs directly attributable to the acquisition of reportable geoscientific data. An applicant for an exploration licence must include the proposed expenditure for and years’ one two in the application. An existing title holder must submit an Expenditure Report showing expenditure for the completed reporting period and a nominated minimum expenditure amount for the upcoming reporting period. Any variation to a proposed minimum expenditure must be title’s approved by the department prior to the commencement of the operational year. The Expenditure Report is to be submitted using Approved Form 17. An Expenditure Report is required with an Annual Report or a Final Report. An Expenditure Report is not required with a Partial Relinquishment Report. A title ceased through surrender or expiry requires a Final Expenditure Report covering the period from the last Expenditure Report to the ceased date. A description of work undertaken is required for each admissible expenditure category quantifying the work done (eg number of stations, samples, drill holes etc.) and the total amount spent in each category. Details of requirements for submission of the form, including formats and lodgement details are provided in Guideline 7 - Reporting on Mineral Titles. 4 Admissible expenditure categories Following is a list of admissible expenditure categories for mineral title activities. Geological activities and prospecting Geochemical activities Geophysical and remote sensing activities Drilling Bulk sampling and earth works Rehabilitation Pre-feasibility including metallurgical and environmental Office studies Land access Overheads (a maximum of 15% of the total of all other admissible expenditures) Preliminary exploration Expenditure relating to data acquisition can only be claimed if the data is supplied to the department in the format advised in Guideline 7 - Guidelines for Reporting on Mineral Titles and the right to redistribute the data is clearly stated in the annual or Final Report. If an admissible expenditure category is not relevant to the reporting period activities, insert “not in the appropriate section of Approved Form 17. applicable” A description of accepted activities for each admissible expenditure category appears below.
Indicative Minimum Expenditure for Exploration Licences: Year One $10,000 plus $ 150 per block Year Two $10,000 plus $ 250 per block 3 Explanatory notes for expenditure reports The intention of expenditure reporting is to capture and monitor mineral exploration costs directly attributable to the acquisition of reportable geoscientific data. An applicant for an exploration licence must include the proposed expenditure for years’ one and two in the application. An existing title holder must submit an Expenditure Report showing expenditure for the completed reporting period and a nominated minimum expenditure amount for the upcoming reporting period. Any variation to a title’s proposed minimum expenditure must be approved by the department prior to the commencement of the operational year. The Expenditure Report is to be submitted using Approved Form 17. An Expenditure Report is required with an Annual Report or a Final Report. An Expenditure Report is not required with a Partial Relinquishment Report. A title ceased through surrender or expiry requires a Final Expenditure Report covering the period from the last Expenditure Report to the ceased date. A description of work undertaken is required for each admissible expenditure category quantifying the work done (eg number of stations, samples, drill holes etc.) and the total amount spent in each category. Details of requirements for submission of the form, including formats and lodgement details are provided in Guideline 7 - Reporting on Mineral Titles. 4 Admissible expenditure categories Following is a list of admissible expenditure categories for mineral title activities. Geological activities and prospecting Geochemical activities Geophysical and remote sensing activities Drilling Bulk sampling and earth works Rehabilitation Pre-feasibility including metallurgical and environmental Office studies Land access Overheads (a maximum of 15% of the total of all other admissible expenditures) Preliminary exploration Expenditure relating to data acquisition can only be claimed if the data is supplied to the department in the format advised in Guideline 7 - Guidelines for Reporting on Mineral Titles and the right to redistribute the data is clearly stated in the annual or Final Report. If an admissible expenditure category is not relevant to the reporting period activities, insert “not applicable” in the appropriate section of Approved Form 17. A description of accepted activities for each admissible expenditure category appears below.
guideline-6-minimum-and-admissible-expenditure.docx