Qld buying a lease

[BrisJoe]

Well I've spoken about it for a while now, but now I am.finally in a position to buy an existing mining lease.
Does anybody done this before? Or could offer advice?
The lease has another 10yrs on it and is hard rock gold with historical data from the old times of the output from the mine.

 

[snafu]

G'day BrisJoe,

There is a fair bit of paperwork involved here in Qld with transferring tenancy from one party to another. I guess the trap for unwary players is mainly the matter of any outstanding royalties & duties that might apply to the seller.

I am not 100% sure that the buyer could be held accountable for any outstanding debts to a Govt agency, but to ensure any future hassles in the transaction it is best to check in with the Dept of Natural Resources & Mines before handing over any hard earned cash. I have heard of a few horror stories here around Sapphire in regards to buyers inheriting some massive debts because they have been a bit slack when it comes to due diligence in transferring tenancy.

Hope it all goes smoothly for you.

Jeff

 

[TenOunce Tone]

Joe. Talk to your local mines office about it. Is the hardrock subterainian? If so it may require special training and maybe look at gettin an explosives licence. May save you some coin on rock breaker bits..
There are a few blokes on here that have recently done this and may be able to mentor you in this process.

Good luck mate

Tone

 

[gcause]

Sounds exciting, best of luck with it Joe

 

[Mr Boring]

Are you only interested in Qld BrisJoe? WA is cheap and hot at the moment, I just got my latest block for under $500, 47Ha, 14,000 grams mined above 11m and drill intersections of up to [email protected] from 27m still sitting in situ. Companies are dropping "non essential assets" including prime gold mining centers