Question: niick a geologist wants in due course to set up...
Niick, a geologist, wants in due course to set up a mining company in Bendigo with the proposed name, Extrapolation Resources. He wants to provide mining services to the company via a service agreement. There is a mining lease he is keen to secure immediately for and on behalf of the would be company, Extrapolation Resources, from a financially distressed vendor, A Plus Prospectus Pty Ltd.
Identify the legal issues relevant to the immediate purchase of the mining lease from A Plus Prospecting Pty Ltd.
Outline what is involved in setting up Extrapolation Resources, and of the proposed service agreement.