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ZippoZ
Knomadic



Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
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Purchasing a historic mine
#13431072 - 11/03/10 08:25 PM (13 years, 3 months ago) |
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I recently made the acquaintance of a gentleman that is looking to sell a patented mining claim of about 20 acres in Idaho. the land was granted in the late 1800's from the federal gov't and is surrounded by BLM lands. The price he is asking is phenominal, even if it was just for the land itself.
It is in an area of high historic mining production, with several other mining claims, but was never developed. the adjacent properties clearly show old workings along the vein lines that dead end at the properties boundary. this along with the land patent records indicate that the mineralization did in fact continue into the property.
during the period of time that this property was developed, options for exploration were very limited to physical workings of the land. Deep drilling, geophysical (gravity, seismic, magnetic, and IP) surveys were not invented or accessible to the old miner. The potential for financially workable previously un-known deposits still exist, however are not likely.
furthermore, the property is covered in large pine trees. Logging it out would effectively cover the cost of a significant portion of the purchase price, if not all of it. It would also be able to provide me with enough lumber to construct a log cabin on the property.
Another one of the nice things about patented lands, is that they lie outside of several legal jurisdictions of surrounding counties. You can effectively do ANYTHYING you want on the land as long as it does not effect the surrounding properties.
I'll let yall know if and or how this goes I got my pick-axe on standby (i really do own a pick-axe btw)
-------------------- PEACE
zippoz "in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption" "People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
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Tri High
Whigro


Registered: 05/02/08
Posts: 11,769
Loc: Monaghan, Ireland
Last seen: 11 years, 11 months
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Re: Purchasing a historic mine [Re: ZippoZ]
#13431253 - 11/03/10 09:20 PM (13 years, 3 months ago) |
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How do you have so much dough?
-------------------- you just need money to get laid - starfire_xes
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ZippoZ
Knomadic



Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
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Re: Purchasing a historic mine [Re: Tri High]
#13431324 - 11/03/10 09:41 PM (13 years, 3 months ago) |
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me, im not at all.
I am going back to work in the near future, and this thing is a hell of a deal.
As for how im planning on paying for this, im pretty good with creative finance. I intend to take the property on a lease, with an option to purchase. probably will only take a grand or 2 down, with monthly payments.
-------------------- PEACE
zippoz "in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption" "People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
Edited by ZippoZ (11/03/10 09:49 PM)
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LinnaeusAzul
Stranger
Registered: 11/03/10
Posts: 47
Last seen: 13 years, 3 months
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Re: Purchasing a historic mine [Re: ZippoZ]
#13440332 - 11/05/10 06:53 PM (13 years, 3 months ago) |
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What are the property taxes like?
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ZippoZ
Knomadic



Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
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150/year'ish
ive been working towards this pretty diligently in the last week. I got exact coordinates of the corners of the property, and loaded em into Google Earth. I used that to get a value on the lumber on the property, which is not of any consequential value. I could make a few grand if i Clear cut it, but it would depreciate the value of the land more than it would make me. Who wants barren land anyways.
I did look into the costs of building a log cabin on site. It's pretty doable, I also have an experienced Tree climber and college educated Arborist that is willing to work with me on the cabin for free or cheap A good friend of mine actually.
As for the potential mineral wealth of the property, its a toss up. There is some documented ore there, but it might not be economically extractable. More likely than not, the value would be in me physically extracting some ore from the veins on the property, and selling choice pieces to collectors. kind of like what you see above in the first post. Interestingly enough, whole pieces of gold or silver have more value than their weight.
Also, I have the BLM combing their files for any more historical records on the area i can get anything i want at $.15 cents a page (go federal employees working for me ) So, at this point, I am going to have to see if i can strike a deal with the owner for a Lease with an option to purchase (with good terms )
-------------------- PEACE
zippoz "in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption" "People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
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dwpineal
Psychedelic Artist



Registered: 07/20/06
Posts: 4,667
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Re: Purchasing a historic mine [Re: ZippoZ]
#13453932 - 11/08/10 02:02 PM (13 years, 3 months ago) |
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This is super-awesome! I don't know anything about the financial feasibility of a project like this, but I've done quartz crystal mining for years and that got me interested in mines and mining in general. It is an amazing thing to be the first one to bring a specimen from underground and into the sunshine. Sounds like a neat adventure!!!
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ZippoZ
Knomadic



Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
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Re: Purchasing a historic mine [Re: dwpineal]
#13454163 - 11/08/10 02:57 PM (13 years, 3 months ago) |
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yeah, im still working on this project. its a question of if the owner is going to be willing to lease me the property for a few months (with an option to purchase it at a later date).
im still waiting to hear back.
-------------------- PEACE
zippoz "in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption" "People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
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