AND, UNTIL THE financial markets recover, preservation of cash is critical. To achieve this, there are several strategies a company can adopt. The most obvious way to cut costs, while still maintaining tenements in good standing, is to shift the burden of expenditure to a third party by entering into farm-in and/or joint venture agreements. Care must be taken when structuring such agreements to ensure that unnecessary stamp duty costs aren't incurred (particularly in light of the implementation in Western Australia of the new Duties Act [WA] last year).
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