CIO doesn't firmly hold the tenement. They let the renewal lapse with no action someone claimed it and now they are contesting it.
So long as CIO can demonstrate some activity related to the tenement, we should retain it as the law is set up to return tenements to existing owners where possible. However there is a 'use it or lose it' aspect to consider also.
My gut feeling is we'll keep it but it's pretty touch and go.
Gold Asset, page-29
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