When they merged all cells into one package they should have equilized the SOW ( work credits )across the claim group, and that should have moved the good till date forward.
That's not how it works. When claims are amalgamated the date for renewal is re-set at the earliest date of all the claims. That means if you have even one claim a year or two earlier, they all get set to that early date.
In the case of CXM the bulk of the claims were good until 2019 but they also amalgamated about 4 claims that renewed on the April 2016 date and so that's the date they used for the amalgamated claims. The instructions are very clear about this so there is no excuse for them not knowing about it.
The work credits have to be applied prior to amalgamation or they lose them after amalgamation. I believe the work credits were applied extending the deadline until 2019. They then blundered by amalgamating with the claims that weren't extended and losing that advantage. Really sloppy.
The claims that used to be owned by CXM are now staked by other people. The best claims are taken by the two Yukon men. The VP for exploration at CXM (Poloni) has also staked some claims presumably to preserve them although he hasn't transferred them back to CXM as of yet.
The Yukon claims were themselves amalgamated yesterday but they still remain registered to those men.
Carmax is going to have to say something tomorrow regardless of where they are in the negotiations.
From the information circular regarding amalgamation:
-
the expiry date of the new cell claim created by the amalgamation is the earliest of the expiry dates of the amalgamated claims:
Example: Claim “A” has an expiry date of April 8, 2007.
Claim “B” has an expiry date of July 1, 2009.
Claim “C” has an expiry date of September 14, 2012.
The amalgamated Claim “D” will have an expiry date of April 8, 2007.