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

nzJimmyJames said:
finicky said:
Silverbullet08 said:
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?
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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?
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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.
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Hahahahah i laughed so hard at this :lol: :lol:
put me in also as rapidly throwing my oragami cranes (the bird), at any possible theives or threats to our gathering :)
ps.. id give butch some of the good food too, not just the scraps.... there there boy :) hahahaha
 
I'm into it!

I can probably do 5K if we did the research and it looked promising + my parents might throw 10-20K in.

If it was able to produce enough to pay a wage I would probably quit my job and do it for 6 months - for a bit of fun...

Although there is probably quite a bit of equipment we would need like rock crushers and a "gold room" (just a casual $44K) http://www.prospectingsupplies.com.au/products/198-gold-room.aspx

Also - lots more info on this prospectus I found - check it owwwt http://newsstore.fairfax.com.au/app...0&sp=nrm&clsPage=1&docID=GCA01008922VGM&f=pdf
 
I like the use of Bonanza in the following description of the Edmund Mine and adjacent MIN 4611 >

The association of indicators with enriched zones, which are recorded for the Wedderburn Goldfield, supports
prospectivity for "Bonanza" gold occurrences. While very rich, such occurrences are too small a target for drilling to
be effective. For example at Ballarat the old mining practice was to drive along a recognised indicator in search of a
bonanza gold accumulation.
VGM propose to conduct underground exploration and development at the Wedderburn reefs by opening up and
bulk sampling the old workings using existing shaft access. This style of exploration is considered the best chance for
discovering repetitions of potentially bonanza gold accumulations in the range 10 - 2,500 ounces
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Top of page 64 http://newsstore.fairfax.com.au/app...0&sp=nrm&clsPage=1&docID=GCA01008922VGM&f=pdf
 
Actually it appears that that Terry is legit - if he is still around he could be a big help.

In the early to mid 1990s The Christmas Reef Gold Mine was operated by Doug and Ann McGuire as a working mine
for tourists. Ownership passed to the Magpie Syndicate and it was refurbished as a decline to 40 metres. In recent
years prospector Terry Frerk has undertaken modest development on a fortnightly basis together with training for
mining students of the Bendigo Royal Institute of Technology. It is anticipated this work will continue under VGM's
ownership.
Terry Frerk has also refurbished the Edmonds shaft to a depth of 30 meters and has completed 46 metres of driving on
two levels. This working is ready for VGM's proposed bulk sampling and production.
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can't we just issue bonds like that silver company in south america? and with money we get from the bonds we buy the mine.

PS: And if the value of the bonds we issue goes to zero, don't say that we didn't warn you against holding (worthless) paper. :cool:
 
double lolz at Black_Sun and systematic!!

And finally after reading most of the report - it turns out that they had an option to buy the Edmund Mine for $200K if they wanted to - obviously they chose not to and now he wants to sell it.

Christmas and Edmonds Reef Agreement
By agreement dated 21 October 2009, Terrence Frerk (Frerk) has agreed to grant the Company an option to purchase
and a licence to access and utilise Mining Licence 4611 (Vic), Mining Licence 5068 (Vic), and certain plant and
equipment.
The term of the licence commences on 21 October 2009 and expires on the date 12 months following the quotation
of the Company's Shares on the ASX. The Company may terminate the agreement by providing Frerk with one months
written notice in writing. The agreement provides for the Company to pay Frerk weekly licence fees in consideration for the grant of licence. Throughout the duration of the licence term the Company must maintain the plant and
equipment in good repair.
For the duration of the licence term the Company must meet the expenditure, reporting, and other requirements
applicable to the tenements, pay tenement rentals as and when they fall due, rehabilitate any and all environmental
disturbance caused by its exploration and mining activities where required to do so by the law and the terms and
conditions of the tenements The Company will be entitled to exploit any minerals located, targeted, identified or
extracted from, on or below the area the subject of the tenements.
The Company holds an option to purchase the tenements and plant and equipment for $200,000 by providing written
notice to Frerk at any time during the licence term.
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If ya make the TV show "Gold Rush Wedderburn" i buzz to play Dakota Fred...!

107_asshole.jpg
 
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