theoretical - $100,000 spend

[Hurg]

Hey

If you had $100,000 given to you on the proviso that it only be used to look for gold or other rich minerals, how would you spend it?

I'm thinking a second hand backhoe might be a good start with a lease somewhere, but I'm interested in hearing what other people's ideas would be on this forum.

 

[gcause]

I'd by a gold mining claim on acreage with a creek with known gold values from drilling and crushing reports and go to work on it. I would peg off the claims I wanted and set up a small mining operation. Then I'd setup a side business to help pay for the mining operations expenses. I would setup on site caravans and camping spots and charge folks $20 per day to go prospecting to their hearts content. Well at least I can dream

 

[Captain Zero]

Put the whole lot on Golden Jewel in the 5th race at Flemington race track

Captn.

 

[dwt]

i certainly would look at Alluvial instead of hard rock, the costs behind hard rock can get extreme, alluvial can see some old cheap machinery put to good use, for example for between 18-25k you can get your hands on a dozer with a front end loader bucket on the front of it, combined with a set of healthy rippers you can move some serious dirt and still load a large wash plant and cart away the tailings, all with the one machine. throw in a 20-25k wash plant, 30k for licence and lease fees and the last 20k for running costs you would be on your way.

 

[gcause]

Sounds like a plan dwt, when do we start

 

[dwt]

Sounds like a plan dwt, when do we start

Hmmmmmmmmmm i was only looking at a D6 traxcavator yesterday for 22k, started nicely after 6 months of sitting idle

 

[BrisJoe]

I would get a sizable lease as mentioned with proven drill records.
The I would spend 40k that I have already priced for a trammel/sluice setup/double jig separator/shaker table from China
And either said drott with ripper or a backhoe to get started and then upgrade to larger excavator/loader once profit starts to run from the mine

 

[Wally69]

I would fund 4 years on the road with a GPX and walbanker, with my track record I could not g'tee a return on equity invested, but the experience would be priceless. :lol:

Please send the 100k ASAP

 

[TenOunce Tone]

Talk to GM about a partnership deal..

OR

Lease w accomodation. Satellite internet and phone service so i can upload photos of my experience on the forum. Excavator. Mobile Wash plant. Dozer to dig/rip load and pull the wash plant. PI and detector with various coils. Diesel generator. Diesel mech/hydraulic repair training..

Dont think i would have much change

Something nice for the GLW (Good Lady Wife) so i get a leave pass
OR
I think I would talk to DD and Gcause first and form some kind of small scale prospecting and tourism venture on both sides of Oz

 

[Mr Boring]

with 100k? provided i had the leases (which I do) It would be big and yellow, Dont underestimate hard rock mining, Most payable alluvial is anything over 0.5gpt, A good drill intercept near surface, say 5m@50gpt.. now thats money. as far as processing, 10 thousand tons of that and ANY mining company will talk. It doesn't have to be 50gpt, I'm negotiating(for over 1 year now :| ) A JV with a large mining company over a [email protected] with intercepts of 14.6gpt from one metre (was previously drilled before i got the block). The block cost me $800 originally. 100k worth of wise tenement investments would probably pay off as well

 

[GOLD Billyen]

Now this is a thread...

100k...I think everyone is right about buying some land in a gold bearing area with a creek.

<However, I'm a big fan of common sense (which isn't so common I hear)
The people that own the land now...wouldn't they have tested the land/creek? If there was any good tests...they would have did it?>

Then get the backhowe and a good size Trommel (aka Gold Rush) and get to it. You'll need to set up water recycling for the dry months.
All i'd want is 50 ozs a year. to pay for fuel and food. I'd live like a pig in poop and I'd be happy.

 

[silver]

Nah Gold billyen , sometimes people just don't know or care about anything other than black and white life in front of them, and they come and go unawares of the fortunes that lay beneath their feet. Oblivious earth dwellers.

 

[Goldtarget]

I'm split down the middle...I like the thoughts of hard rock and tourism. I think opening up a lease to the public would be the key to seeing my hearts desires sated. You wanna come for the week, sure no worries mate its x amount for the day (no ridiculous amounts) cheaper by the week and keep what you find kind of deal while i pushed down towards the reef. About a 1 km distance from some land i brought had an assay in the mid 80s that returned a 50gpt result at 10m and average of 13 gpt for 20m sample. The surrounding test holes where fairly disappointing but my first hand alluvial pursuits have been encouraging in the general vicinity so I'm pretty sure everyone would get a good go. I'm not in it for wealth, just enjoyment, be a nice thing to do what you enjoy with others because well you could. I reckon the 100k would be more than enough to see it through. But the reality is its back to work in the morning I

 

[Goldpick]

A new 4WD, offroad caravan, a couple of decent gold and coin detectors would satisfy me - sell up the house, and just cruise around enjoying life.

 

[HeadsUp]

I would get a sizable lease as mentioned with proven drill records.
The I would spend 40k that I have already priced for a trammel/sluice setup/double jig separator/shaker table from China
And either said drott with ripper or a backhoe to get started and then upgrade to larger excavator/loader once profit starts to run from the mine

better a backhoe i think so you can do exploration slit trenches for sampling

 

[BrisJoe]

I could see wal using the money to setup "walbanker prospecting supplies" and put the walbanker into production hehe

 

[Hurg]

Only $6,250? Surely there would be something wrong with it?

http://www.gumtree.com.au/s-ad/berkeley-vale/heavy-farming-agriculture-equipment/backhoe/1045744782

If you could pick up something like that for that price that ran okay then I imagine you'd be laughing. Most of the backhoes I've seen second hand run for around $25,000-$30,000

 

[Wally69]

No roll over protection, plus add $0 to $100k to your maintenance budget. 8.(

Looks can be deceiving though, it may be owned by a mechanical wiz who doesn't care for appearances and be the buy of the century. Or could have been used to shovel cow shit 50m from a dairy for its whole life. It is worth getting a full history and having an experienced plant mechanic check over any plant purchase.

 

[HeadsUp]

yup

without ROPS its an invitation for a workcover fine

you might get approved ROPS for under $ 1000 ( roll over protection bars )

and a hydraulics and transmission checkup is a must or else you could have purchased some expensive scrap metal

but you can get lucky sometimes . happened to me once back in '52

 

[axeman]

A new 4WD, offroad caravan, a couple of decent gold and coin detectors would satisfy me - sell up the house, and just cruise around enjoying life.

I'd do the same Goldpick. A decent 4x4 that I could possibly work on if it breaks down (would love an okka), small offroad van, a GPX 5000, wallbanker ect. Rent the house out then off on a prospecting trip around oz.
Mick