Edmonds Gold Mine lease for sale $148,000 - SS Group Buy?!

Hey guys,

I came across a gold mine lease for sale on eBay and thought you might be interested... Perhaps if there was enough interest we could group buy it and co-own it? I would put in $1,000 to have a stake in it and get to go mine it for a week or so every now and then but I have no idea if it's worth it (or have any experience mining - and it looks like a deep hole!).

Anyway, just an idea - thoughts?


This is the info on the listing:

Selling as I am over 70 years old and unwell

Mine name is The Edmonds, lease number 5068, lease size 5 hectares

Historically produced 56 ounces from 56 tonnes

Located in Wedderburn, Vic around 230km from Melbourne

Main reef producing 4, 7 and 11 grams per tonne

All mine plans and approvals are in place and up to date

What you get:

The lease, access to water supply, miners hut, 10 tonne tipper truck, 2x Lightening Ridge hoists, compressor and head frame with winch.

 

he must have got sick recently as 2 months a go he bought himself a ski boat!

 

we could start a TV show called "Gold Mine biggest loser", and we work some fatties day & night for months on end, to make us rich. The winner will get a 5 gram bar of pure 9 carat gold. Then we'll start season 2...

 

Hahaah I saw this on eBay half a week ago and was gonna post it lol..
I think he asking too much tho
148,000 / 56 = $2,643 per oz... Bit over spot hey?

 

Don't forget to add the cost of your labour into that ounce rate...

 

Ah ha! Busted!! Hmm I would say that it's a friends account though - not many old timers are rockin eBay accounts

Black_Sun... I like where you're going with this... "5 gram bar of pure 9 carat gold" :lol: I'm in !

 

I keep telling people, I'm just big boned; on a unrelated story, can't wait for work to finish so I can go to the pub!!!

 

Yeah - that's right - and he's probably got all the easy stuff........ or HAS he?

We could set up a camp on the land and all go real crazy with gold fever and get really angry because we aren't getting any gold and sell it as a TV show called "Gold Fever" or something of the like > http://dsc.discovery.com/tv/gold-rush-alaska/

 

but there has to be some "diet" or "weight loss" or "cooking competition" in there somewhere.. or it just won't make it on TV!

 

He's a bit sparing in the description, but pretty sure that he's referenced there the best tonnage mined at mine not the only tonnage.

Plus there're all the other 'assets', which again require more description. On the face of it, it doesn't look so bad at all. You get a job on a producing gold mine, 12 leased acres to work and live on, a hut, water supply, and a truck with other mining equipment. So you get a home job and trade tools all in one, plus I'd start a big vegie garden on the unused part of the 12 acres and have plenty of water for it - so you get food too.

You'd need to get him to prove somehow what his income from it has been. Then again he could be selling it as the known reefs are basically played out. Someone independent to assess the mining reserves. Wonder what it costs to upkeep a mining lease?

What am I saying? This is insane. Only a miner would be a candidate for this, and what miner would buy a mine on ebay?

 

Righto group buy it, and divide up say ten acres into mutch smaller surface lots and sublet annually to detectorist type prospectors..( residule income ) Mean time we continue underground. Sounds good to me.

 

The old guy couldn't have gotten that far down!!
I say we get some massive earth moving equipment, call a shot firer
And blast this baby open!!! The worlds next biggest nugget here I come!!
BID BID BID!!!! Lol

 

My Mine Rules!!
Celebrity dig off!!!
Australians got mallet!!! And shovel
The Spade!!!
Oww the list goes on

 

Australia's Next Top Miner
Who Digs Wins
Grand Mine Designs
The Mole Hole

haha :lol:

 

Finicky - I like where you're going with this..... You can be the brains behind the operation, logistics and project management kinda stuff, keep people from going crazy with Gold Fever with your cool calm and analytical attitude.... yeah that's you, you can play that part.

As for me, I'll play the over eager, highly optimistic young lad who gives up everything to have a shot at striking it rich and living the Australian dream. Along the way I will have some heated arguments with people and then learn valuable lessons from them.

mmm.....shiney you can be the surly dry witted jerk kinda guy that people love to hate, teaching me lessons about life and somehow knowing where the Gold will be. You will be friends with Finicky but it will take an initial sizing up and Finicky will need to make some smart calls for him to earn your respect.

Butch, You can be the camp dog that everyone likes to pat and feed their scraps to after a hard days mining and you can lick their dusty face to give them the affection they otherwise lack in a predominantly man based camp. As for butches owner, he can be the guy that gets on with everyone, the guy everyone loves, who is patient and has time to kill, knowing that eventually we will strike it rich - you will have a good discussion with me about patience and respecting my elders after mmmm....shiney and I have a blow up where I throw something at the ground really hard.

Silver Bullet - you can be the funny guy, making everyone laugh when they are tired and also telling crazy and unbelievable stories that will help pass the time. You will also have a brief foray into the art of oragami but get over it when your hands get too rough from so much shoveling.

Black Sun and Skipau - you guys will develop a friendship through your ability to organise the camp site into some sort of order, while developing your skills at bush cooking and living off the vegie patch you plant. You will also get a slight case of Henny Penny syndrome when other miners steal some of your crop and insist on developing some kind of barter system. This works well and becomes the crucial structure the gang need to feel equality and continue to reap the rewards of their labor.

Naphthalene Man and Ozboy - you guys are our mechanics and explosive experts (with me in training) - if anything breaks down you can fix it with some wire and unnecessary amounts of oil on your hands, shirts and face - one of you is also an ex-bikie - I'm not sure which one.

There - pretty sure I've written everyone into the script....

Sweet, million dollar reality tv show - done.

NEXT!

 

Well come on lets get this show on the road.

 

ok.... $1,000

$147 to go.....

haha

But seriously - it's looks like it's being sold off from an ASX listed mining company Celamin Holdings (CNL) that is being acquired
> Sounds like it might be ok if they were keen on it:

Company Info
http://www.mysharetrading.com/celamin-holdings-cnl.htm

Acquisition notice
http://www.celaminnl.com.au/pdfs/2012-03-13-09263801278075.pdf

The plot thickens....

 

If there was a Bobcat in that deal i would be in for 10k on a group buy
Returns as per investment percentage
Land use multiple


REDBACK

 

If it were open cut I'd be down for design work