BLM will reject your fractional interest application if:

(a) You do not meet the qualifications in §3509.45 of this part;

(b) You would have an interest in the total Federal and non-Federal mineral estate of less than 50% once the fractional interest prospecting permit or lease is issued, unless we determine it would be in the best interests of the government to issue the permit or lease; or

(c) We determine that it is not in the public interest to grant the lease.