In 1933, the United States issued several patents regarding mining claims in Montana. In 1951, sucessors-in-interest to the mining claims obtain a quiet title decree as to those claims. They subsequently convey their interests to J. Heils Lumber Co. with an express reservation of "all minerals and ores of whatsoever nature lying within said lands, including coal, oron, gas and oil." Libby Placer acquires 75% of the reserved mineral interest while Noranda acquires 25% of the mineral interest. In 1989, Champion, a successor to J. Heils Lumber and Noranda execute an agreement whereby Noranda is granting an option to purchase the real property less the mineral interest previously severed. Shortly thereafter, Noranda files an eminent domain action seeking to purchase all of the interests it does not own in the patented lands purusant to Mont. Code Ann. § 70-30-102(5). The court awards Libby Placer $20,000 as full compensation for its mineral interest. In 1993, Champion conveys the land in question to Noranda with an exception for "the minerals and ores." In 1996, Libby Placer files a "Notice of Reversionary Interest" with Lincoln County relating to the same property interest. In August 2002, Noranda issues a news release saying that it was going to abandon its project in Montana that included a portion of the lands involved in this litigation. Libby Placer than brings this action seeking a declaratory judgment that the 75% mineral interest condemned by Noranda reverts to it by virtue of Mont. Code Ann. § 70-30-321(3).
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