• Gold and Silver Mining Company For Sale/JV
• Company has $32 Million in receivables
• Company Sale: $20 million cash and a 25% royalty of earnings until $40 million has been paid to the sellers. All assets including $32 Million in receivables and claims will be transferred at close to new owner.
• JV Offer: $10 million and new JV owner gets $16 Million in receivables at close. 50% interest in receivables, mining assets, and earnings. Owner's will sign an option to sell rest of the 50% ownership at close with a number to be determined later
• Land: 61 lode mining claims and 34 placer mining claims
SUMMARY CLAIM DESCRIPTION:
Asset #27 Mt. Boy (Eureka)
Asset #27 located near Eureka Nevada and bordered on 3 sides by Ruby Hill Barrick Gold operations consists of 10 lode mining claims with historical mining assay information and 3 placer mining claims aka Asset #21 where 65,000 tons of stockpiled ore is located which has been certified as to tonnage and grade when stockpiled by a qualified individual. The lode mining claims are estimated to have 7,200,000 tons of ore in the top 100 feet and contain an estimated 767,700 oz of gold and 111,839,400 oz of silver which if valued at today’s prices is $2.782 billion.
Asset #26 Reveille
Asset #26 – Reveille is located 70 miles east of Tonopah and consists of 54 claims which includes 51 lode mining claims and 3 placer mining claims where 150,000 tons of stockpiled ore is located which has been certified as to tonnage and grade by a qualified individual.
The 54 mining claims are estimated to have 11,470,000 tons of ore in the top 100 feet and contain an estimated 65,400 oz of gold and 179,873,500 oz of silver which if valued at today’s prices is $3.154 billion.
A production plan to bring this asset into production includes a plan for open pit mining of 500,000 tons per year and heap leaching to recover a net return per year of an estimated $44,500,000 per year net earnings.
The Goldfield Basin property is located 50+ miles south of Tonopah and consists of 31 placer mining claims adjacent to confirmed drilling results showing the placer material goes down over 50 feet and gets richer in the deeper 20 to 30 foot zones. The adjoining claims showed an average gold content of 0.29 ounces per ton and 2.04 ounces per ton of silver. We have sampled and analyzed in the top 3 feet and confirmed the ore contains .025 ounces of gold per ton and 1.5 ounces of silver per ton. This is the most accessible and ready to go for large scale production of the 3 properties. Projections indicate that a 1,000 tons per day 10/1 concentrate operation will produce a net of $48 million per year.
FOR SALE OFFER AND JV DEAL STRUCTURE:
$32 Million in Receivables
The company has stockpiled ore going into production projected to net approximately $7 million over the next 2 years and a $25 million portion of a note receivable to come in as cash flow over the next 36 months. (Click Information below for Receivables)
Company is willing to sell the $32 million of receivables and their mining assets for $20 million cash and a $40 million royalty to be paid back at the rate of 25% of earnings until the $40 million has been paid to the seller.
Joint Venture 50% Offer
Would sell a 50% interest in receivables and mining assets for $10 million cash and 50% of earnings. This means that the buyer will keep $16 million of the receivables and pay seller the $10 million now and then share on a 50/50 basis going forward from earnings.
Joint Venture Buyer Option to buy remaining 50% in the future
Option to buy out the remaining 50% can be negotiated at a later time. As the production continues to grow and expand, the price to buyout the remaining 50% would increase. Expected to be received over the next 36 months.
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