B.C. land sale draws $835,492 in September

B.C.’s September land sale drew $835,492 in bonus bids this week.

The government sold 2,782 hectares on Sept. 18 at an average price of $299.78.

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Elk Run Resources Ltd. picked up a 2,228-hectare drilling licence for $607,419.64, or $272.63 per hectare. Storm Resources Ltd. picked up a 559-hectare lease for $228,072.50, or $408 per hectare.

Year-to-date, the government has attracted $60.51 million in bonus bids on 58,330 hectares at an average price of $1,037.30. That compares to $169.18 million over the same stretch of 2017 for 64,050 hectares at an average price of $2,641.30.

The September sale capped off a weak third quarter in which the province took in just $1.06 million in bonus bids on an average price of $259.40. That compares to $15.82 million ($328.16/ha) in the first quarter and $43.63 million ($7,220/ha) in the second quarter.

There are three sales left in B.C. this year.

The next sale is scheduled for Oct. 10.

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