Chasing a little info on Prospecting leases

First topic message reminder :

Hi all

Just wondering if someone out there can clarify a couple of questions regarding prospecting leases. Nearly pegged some ground but not sure after reading the pamphlets from Mines dept with regards to the following

1. What is involved with the $5k security, do you have to put up the 5k like a bond or what. The pamphlet only stated must be done within 28 days of submitting your application
2. If you have a PL are you required to pay shire rates as this was on the sample cost report that needed to submit each year.

Thanks in advance for your replies. Ian

The MRF will not effect most small operators. It is only applicable if your rehabilitation costs are estimated to be more then $50k.
For small scalers you just report your disturbance and that's it, no bill. It's pretty easy to keep track of all your tenements and report online now, great system I reckon.