the bat cave, page-27

Asteroider, I know there was a post last week about this but it's hardly a "recent find" as the information about the expiry date has been in the public domain all along.

It is even mentioned in KEY's prospectus on pages 68 & 69.

An Italian Permit is granted for a period of 6 years and may be extended for two further periods of 3 years each. Upon the expiration of an Italian Permit’s initial period, the Italian Permit area has to be reduced by 25% and, upon the expiration of the first renewed period, by a further 25%. Should the Permit area be less than 30,000 hectares, these reductions shall not apply.

An Italian Permit may be extended beyond 12 years if further time is required to complete the work obligations (and the delays have not been due to inactivity, carelessness or incapacity of the entity granted the Italian Permit). Such further extension is limited to one period of one year. In case of expiration, waiver or loss of the Italian Permit, the holder will be entitled to apply for a new Italian Permit over the same zone only after the expiry four years after the termination of the original Italian Permit.

The table on page 69 shows the grant date of the Borsano block as 26/11/03.