That is good advice. I get similar questions and I always tell new guys to start by joining a club. Too many get caught up in the romance of buying their own claim. Learn how to find gold first, learn if you really like it or not. Then, after a few years when you have some skills, if you want to think about claims, you wont be such an unskilled greenhorn and you will be able to decide if its worth while. Never buy a claim based only on the seller's words. Test it for yourself and see for yourself what gold it has. If you dont have the skills to test it for yourself, you should not buy a claim.
I remember when I first started I didn't even check out you tube. I just jumped right in. It took me literally 3yrs to find my first spec of gold. Now I'm finding a 1/2 gram or so per week. But I had to ask about 10 billion questions. As far as finding that land or your own place to go prospecting I use my land matters. I find its a great place and easy to use tool to find open areas to go prospect.
WELL SAID Rod!!!! This was much needed. I see so many people on RU-vid selling claims that I know there is not enough gold in the area to come close to paying off the price. Hopefully this keeps some newbies from throwing away their money. Like you said.......a club is the best way for a newbie to learn/find friends/see if they even like it, and get acquainted with this "hobby"
Most historic mines like this one are somewhat documented and any numbers are always questionable, however the vast majority of claims and mines don't have any record of production 🍻😎⛏️
You're right about permission before prospecting just keep in mind that anyone is free to walk, camp, video, etc on any unpatented claim as it's public land. The claim owner only has the exclusive right to extract minerals, nothing more.
Three things 1. An other great video. 2. You might want to name a few of the clubs for the tenderfoots to check out. 3. A follow up video about patented claims. There is one key piece of information I just recently found out about that I now strongly would dissuade anyone even remotely thinking about filing for a patented claim. If for any reason once a patent clam is filed it is rejected the claim under patent is removed from the government roles for mineral extraction for good. Kingdonke Monster hunter out.
1994 congress passed law that placed a Moratorium on processing patented mining claims. The only way to do it now is an act of Congress which only the deepest pockets have been able to do. The only company I know of was Resolution copper in Arizona who slipped in a law to allow them to swap private land they owned with National Forrest service land they passed it Trump signed the bill now they have a Patented Mining claim. They are going to wreck Oak Flats cave in the surface going to look awful. This is why the patented claims that are out there cost so much.
Professional I was thinking about buying a mining claim…. but you’re right might as well just join a club or something.. to see if I like it if I stick with it more than three months actually doing it and once a month.. yeah I’ll buy one in about six months
Well Gary Morgan here I have few questions I have started a claim service were I hunt claim location were the buyer is interested in mining. Do you think 1500.00 is enough money for the service because I spend this amount when I go to the claim area's compared to having ground that you can see I think it is hard for people to get around the better service of guaranteed gold ground bearing gold on blm lease
I've shared my opinion on this before and I certainly can't advise you on how to run your service. Keep reading, it's long. Buyers should use the risk assessment model with a $1,000.00 cap when purchasing unpatented mining claims because it aligns with the relatively low cost of filing a mining claim for the seller, which amounts to just a few hundred dollars. This cap provides a reasonable balance for both buyers and sellers in the transaction. Buyers can limit their financial exposure and mitigate risks, while sellers can still find willing buyers at a price point that reflects the speculative nature of mining claims. It strikes a fair compromise in a market where uncertainty is high, and it ensures that buyers don't overcommit their resources to an uncertain venture. Buyers of unpatented mining claims seek to minimize their financial risk when investing in these properties due to the inherent uncertainty in mining operations. Using a risk assessment model that caps the purchase price at $1,000.00 can be advantageous for several reasons: Uncertainty in Mining Returns: Mining ventures come with significant uncertainties, such as resource quality, extraction costs, and market fluctuations. Buyers cannot guarantee a return on their investment, making it crucial to limit their initial financial exposure. Risk Mitigation: By setting a maximum purchase price of $1,000.00, buyers can mitigate their potential losses in case the mining claim does not yield profitable results. This financial constraint helps protect their investment. Low-Cost Entry: A $1,000.00 limit provides a relatively low-cost entry into the mining industry. This enables individuals or small-scale investors to participate in mining activities without risking significant capital. Speculative Nature: All mining claims are speculative in nature, making it challenging to assess their true value. Setting a low purchase price limit ensures that buyers do not overpay for an uncertain asset. Opportunity for Upside: Capping the purchase price allows buyers to limit their potential losses while leaving room for unexpected positive outcomes. If a claim turns out to be highly profitable, they can benefit from the upside without a substantial initial investment. In summary, using a risk assessment model to limit the purchase price of unpatented mining claims to $1,000.00 is a strategy I think is smart for buyers to protect themselves from potential losses in a highly uncertain industry, while also offering the opportunity for positive outcomes without overextending financially.
How 'bout recovering silver (or other) from tailings of an old mine that is now too small to be operated economically in most likely scenarios? Are technology providers bringing down the costs enough that projects in the 7-figure range (single millions of dollars "market value") will be able commence operations where the goal is to efficiently recover something less than 100k ozt silver per year? Maybe this is not the fun part of mining, but was just wondering about the recent impact of technology on this part of the chain from prospecting to refining. Thanks & all the best, G.M. o/
Great question. The cost of fuel, labor, etc would factor deeply into any analysis on potential profitability. Technology is becoming increasingly inexpensive in many aspects, but newer technology tends to iterate in versioning that reduces cost over extended time periods. In short, if such a technology was available it would require a great deal of analysis before investment.
@@NuggetHeads Hey, thanks very much for your thoughts! I was looking at companies like EnviroGold & Glencore Technologies that are involved in these sorts of processes. One hopes that the tech could be scaled down & help out the little guy too. Maybe a decent little crew with low costs & a sensible workflow could do okay in some cases, if not today, then maybe the next time they 10x the money again! ;)
Totally agree, it would be great to see tech available to everyone at an attractive and affordable price. Till then we'll just have to do it the old fashioned way lol
Something you didn't go over was if you buy a Patented mining claim which you own the land your also responsible for cleanup of any toxic substance that is there from a past operation, or any future operation. Un-patented the Government is responsible this is why it's so difficult to bring in heavy equipment, explosives, buildings, and all that stuff they generally won't approve all that unless you have deep pockets to get a plant of operation approved.
Thank you for this video. I'm retired and thinking the same. Clubs, are you able to rank club's good to bad? If so try all club's I'm located Alabama. Thank you.
There are so many different clubs both on a national and local level it would be impossible for me to give a fair assessment. That said the GPAA is by far the largest and most well known of all the national level clubs.
That's true if you find something that isn't claimed up most BLM, and NF property where mines used to be are all claimed up now since gold went over $1000 an oz. They list them so fools will buy them at 10x-100x profit. I have seen some forsale on real estate websites where they make it seem you will own the property it's out right fraud.
