Not sure if this is what he means, but I seem to recall that a company needs to keep a tenement in "good standing", which means a specific amount of exploration etc each year.
I don't think FAS has a put a hole in anything apart from shareholders pockets for years now.
Therefore very likely they will have to hand back the leases to Mines and Energy?
Spoke to Kev for 30 minutes, page-20
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