Overview - What's New

Exploration Licences for these parcels include new terms and conditions, for example:

• A lower minimum work expenditure bid, reduced from $1,000,000 to $500,000.
• By posting $50,000 upfront, the work deposit is deferred to the end of the third year.
• A 150% credit on allowable expenditures approved in the first three years.
• Deep water parcels allotted an extra year in Period 1 to account for the challenges of exploring in deeper waters.