Buying a gold mine

Posted: 10/11/2021 6:48:44 PM EDT

I see a lot for sale online.

What’s the scoop on such?

Unpatented 20 claims via quit deed. On BLM land.
Has buildings on it. The one in AZ I’m looking at does.

Posted: 10/11/2021 7:21:56 PM EDT

[#1]

Only thing I hear frequently mentioned is environmental cleanup. Lots of mining uses some extreme stuff. As with any business venture they probably just weren't producing so they got shut down.

Posted: 10/11/2021 7:35:06 PM EDT

[#2]

There are plenty of mines out there with visible gold and no economic path forward. Know why you're buying. You want a hardrock shelter for doomsday? Gonna get rich? Or is it an artisanal mine that perhaps will break even after equipment costs and expenses but is a fun hobby?

Posted: 10/11/2021 8:39:10 PM EDT

[#3]

Unpatented?

Quitclaim deed?

Yeah, um no.

They’re selling you whatever rights they may have in the claim, but they’re not guaranteeing they actually have any rights in the claim.

Posted: 10/12/2021 8:14:09 AM EDT

[#4]

I don’t care if it produces.
I can keep a pile of dirt and constantly be sifting at my own pace. Profit isn’t the drive in my gold business.
Appear to be working. Goal.

It’s a rock shelter. And cheap land to stand on.

Posted: 10/12/2021 7:34:50 PM EDT

[#5]

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[ARCHIVED THREAD] - Buying a gold mine

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