The Government of Saskatchewan’s Subsurface Mineral Crown Disposition Public Offering raised $169,878 in revenue on Monday. This is the first subsurface mineral offering of the 2020-21 fiscal year.
There were 81 subsurface mineral permit blocks posted, totalling 141,640.79 hectares. Of the 81 blocks posted, 16 received bonus bids and consisted of 51,917.96 hectares.
Sun Valley Land Ltd picked up nine permit blocks totalling 36,769.377 hectares for $101,300, Deep Earth Energy Production Corporation purchased three permi blocks totalling 3,462.289 hectares for $55,000, and Prairie Lithium Corporation bought four permit blocks totalling 11,686.294 hectares for $13,578.
The highest bid received was $30,000 from Sun Valley Land Ltd.
The subsurface mineral public offering uses a competitive bidding system to issue subsurface mineral dispositions that grant the holder the exploration and development rights for potash and natural mineral salts more than 60 metres below the ground.
As the demand for lithium is increasing, the province has seen a significant interest in Saskatchewan’s lithium potential.
The next scheduled for a subsurface mineral public offering in Saskatchewan is December 14th.
