Wisconsin to get a gold mine?

[<SLV>]

The big joke at the Tomah, WI, chapter of the GPAA is that there is no gold in Wisconsin. Maybe that is true of placer deposits, but they are gearing up to possibly mine some 45 degree veins in Marathon County:

http://www.wausaudailyherald.com/art...81&located=rss

[Ragnarok]

Wait'll the environmentalists get hold of this one.

R.

[<SLV>]

The land owners get a whole $50/year in "royalties" for a 7 year period of exploration. Wow -- that is really generous. In exchange their property is trampled by large trucks and drilling equipment. Sounds like they should have been legally represented in that negotiation process.

[Lugnutzpop]

The land owners get a whole $50/year in "royalties" for a 7 year period of exploration. Wow -- that is really generous. In exchange their property is trampled by large trucks and drilling equipment. Sounds like they should have been legally represented in that negotiation process.

That's not totally accurate.......

"Gerald and Sue Juedes, for example, will receive $50 annually in royalties for seven years during Aquila's exploration phase on their 39 acres along Partridge Road, and the agreement includes an option to purchase the land for more than $300,000 or double the fair market value, according to county records.
Sue Juedes said the agreement with Aquila prevents the couple from discussing its details. But the couple had a similar agreement with Noranda, and Juedes said based on that exploration, she's skeptical of a big payoff from Aquila".

[<SLV>]

That's not totally accurate.......

"Gerald and Sue Juedes, for example, will receive $50 annually in royalties for seven years during Aquila's exploration phase on their 39 acres along Partridge Road, and the agreement includes an option to purchase the land for more than $300,000 or double the fair market value, according to county records.
Sue Juedes said the agreement with Aquila prevents the couple from discussing its details. But the couple had a similar agreement with Noranda, and Juedes said based on that exploration, she's skeptical of a big payoff from Aquila".

Still... what was the estimated value of the gold deposited under their land? $168,000,000. And really? Only $50/year for the inconvenience and destruction of their property?

[Lugnutzpop]

Still... what was the estimated value of the gold deposited under their land? $168,000,000. And really? Only $50/year for the inconvenience and destruction of their property?

I agree, I'd never agree to $50/yr. They want on my property, they're going to pay for it....... "How bad do you want that gold"?

Just pointing out that they stand to gain pretty substantially if the gold is ever extracted.

-L

[Argentium]

Even if the exploration/ mining rights are settled, the WI DNR/treehuggers will never issue a permit. This happened up at Ladysmith, a very promising copper/zinc deposit that got shot down when they wanted to start mining. I don't doubt there is gold up in that area.

[Irons]

Even if the exploration/ mining rights are settled, the WI DNR/treehuggers will never issue a permit. This happened up at Ladysmith, a very promising copper/zinc deposit that got shot down when they wanted to start mining. I don't doubt there is gold up in that area.

There are kimberlite pipes in Michigans UP, lots of them with lots of diamonds. Ix-nay for permits on mining them.

EDIT: Now that I think of it, I think DeBeers bought them all and keeps them from being mined.

[B00B001000]

Perhaps in addition to the $50.00 cash, there might be a percentage figure in the contract for the property owners. I cannot belive anyone would lease land for $ 50.00 knowing fullwell the damage mining and trucking is going to do to your property.

[Ragnarok]

Fifty bucks a YEAR??

I wouldn't take less take a couple ounces of gold (or fiat equivalent) a month.

R.