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LRMA News 12 August 2008
SECURITY BOND SCHEME TO START


The LRMA security bond scheme will start on Monday 25 August 2008. It has taken a while to get all the bits and pieces together but it is finally here.

The bond scheme will allow responsible members to join the LRMA scheme and lodge the one security bond for mineral claims and Opal Prospecting Licenses and roll their bond over onto new titles. Members can also lodge a bond on behalf of their nominees. The nominees must be financial members of the LRMA. If the nominee is a company all Directors of that company must also be financial members of the LRMA.

Once members lodge their security bond with the LRMA the titleholders can apply to the Department to have their original bond refunded.

Everything else involved in mining, registering claims, cancelling claims, inspecting claims to ensure that the rehabilitation has been done to the current standard, remains the same. Before registering a title with the Department members who are in the scheme will need to come to the LRMA office for a signed and dated form to prove they are a current member of the scheme.

Following is an outline of the agreement between the LRMA and the miner. In the agreement the miner in control of operations or the mine operator is referred to as the bonded miner and those names under his control are referred to as nominees.

The scheme only applies to a mineral claim for underground mining, an opal prospecting licence or a 2ha prospecting claim (not to open cuts or residential claims). No one on the Departments increased bond list is eligible to be in the scheme.

The bonded miner must lodge a bond for a minimum of two mineral claims and they shall be responsible for complying with the rehabilitation conditions imposed by their title and for their nominees titles.

Should a bonded miner or his nominee not rehabilitate their title to the satisfaction of the Department or if they are placed on the increased bond list, they will forfeit the entire bond lodged with the LRMA (irrespective of the amount of bond lodged) and neither the bonded miner nor the nominee will be eligible to rejoin the scheme for three years.

Once the title is rehabilitated and approved by the Department anything that happens afterwards is not the responsibility of the LRMA. If further rehabilitation works are directed by the Department then it is the responsibility of the bonded miner or the nominee.

Unless otherwise directed in writing the LRMA will retain the bond on termination of a title and apply it to any new title.

The LRMA may recover any costs of rehabilitation costs of any works they carry out above the amount of the bond they hold.

The bonded miner may withdraw from the scheme at any time and the bond will be refunded once they lodge a bond with the Department for any titles they may hold.

The bonded miner and his nominee authorise the Department to provide the LRMA information concerning titles they hold or have held whilst they are in the scheme.

The LRMA may invest the bond in an interest bearing account and keep the interest. The LRMA reserves the right to charge an administration fee (although there is no plan to do this at present).

The LRMA reserves the right to increase the bond provided that the increase does not exceed what is charged by the Department.

And the most important part—the bond will be $250 per mineral claim and $350 for an OPL or 2ha prospecting claim. A minimum of $500 must be lodged with the LRMA.

This Scheme will save members quite a bit of money and be a lot more convenient. It also allows the miner to lodge the one bond for all the titles they control.

Obviously it is essential that all members in the scheme rehabilitate their titles to the Departments standard as the LRMA is guaranteeing their performance and if the miner defaults the LRMA will have to pay to rehabilitate the title. If a number of miners default then this will put the scheme at risk and force the bonds up, which will defeat the purpose of the scheme. The LRMA has lodged a bulk security bond with the Department to cover the titles in the scheme.

Members are welcome to come to the office and collect a copy of the agreement at any time.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Maxine O'Brien
Secretary/Manager
Lightning Ridge Miners' Association Ltd
PO Box 177, Lightning Ridge NSW 2834
Ph: 02 6829 0427, Fax: 02 6829 0830
Mob: 0427 920 474
Email: lrma@lightningridge.net.au


13 August 2008 12:15pm
LRMA News 6 August 2008
WARDEN’S HEARING INTO COMPENSATION ASSESSMENT FOR MUTTABUN

The Chief Mining Warden held a directions hearing into Mr Slack-Smiths application for an assessment of compensation at the Lightning Ridge courthouse on 5 August 2008.

The Warden directed that the LRMA and claimholders represented by Lindsay Moore file any reports by 12 August 2008 and that the applicant Mr Slack-Smith file any documents by 22 September 2008. The Warden will hold a review on 18 September to ascertain that the deadlines will be met and to hear arguments as to what subpoenaed documents will be admissible.

The hearing is set down for 30th September and 1st October 2008. The Warden advised he would be hearing expert evidence concurrently which is a relatively new technique. Apparently the expert witnesses confer before the court and prepare a brief report on the points they agree on and the points they disagree on. They are then sworn in together and are asked questions together. This should save a lot of time.

The LRMA is still accepting donations from claimholder for the fighting fund to cover the legal and expert witness costs.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Maxine O'Brien
Secretary/Manager
Lightning Ridge Miners' Association Ltd
PO Box 177, Lightning Ridge NSW 2834
Ph: 02 6829 0427, Fax: 02 6829 0830
Mob: 0427 920 474
Email: lrma@lightningridge.net.au

6 August 2008 04:37pm