Gold share percentage for fellow Prospectors

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Gold share percentage for fellow Prospectors

Post  ROCKDOC69 on Mon May 08, 2017 4:51 pm

HI Mob,
Here is the issue:
How much would you share with a property owner to access their property? I was offering 50/50% to get onto some potential properties, but was told it should be around 20%.
This figure was from one of the legends of detecting, who has done heaps of these deals in the past 30 years.

I have been given permission to detect a really good block but will first finalise the % with the property owner first. I want to ensure there are no misunderstandings, as he is related (by marriage) to wife's cousin..

Second visit (after a recon) I intend to take two mates onto this block to smash it, but this will obviously complicate matters.
One mate (we'll call him Reg) has some awesome equipment+experience+Legend, the other (we'll call him Matt) has experience and is a 'Tin A*s*' at walking onto gold and hearing the faintest/deepest of sounds.

So does this seem fair for all?
Guys can only enter property with me (as I am sole point of contact with property owner).
Property owner gets 25%
Any gold we find - we divide the remaining 75% amongst each other?
Any large pieces, the finder has the option of paying out the % and keeping the nugget (at gold price values)?
Thoughts?
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Re: Gold share percentage for fellow Prospectors

Post  Kon61gold on Mon May 08, 2017 5:41 pm

All good & fair there Rockdoc, but only if the land owner accepts the 25% offer. If it were me, I'd first be asking what percentage, the owner of the land would be happy with & haggle it from there.  Mind you, sounds like you have some of the most knowledgeable prospecting crew at hand, to give the land a good thorough going over.  The rest, can be split up between the prospecting parties concerned.  A good Idea would be, to put it all down on paper & have it signed off by all parties concerned, just so it don't lead to a dragged out legal battle, if anything of significance is found.  Shocked Laughing

Cheers Kon. Q11
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Re: Gold share percentage for fellow Prospectors

Post  deutran on Mon May 08, 2017 6:35 pm

Maybe first visit just by yourself and do a quick sweep.I think most owners might prefer low key approach on the first visit.You could then offer to bring some additional experienced prospectors.
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Re: Gold share percentage for fellow Prospectors

Post  Old Hand on Mon May 08, 2017 7:18 pm

50/ 50 is the only way I can get on some properties ,other do just let me on and I keep what I find
 but 50% is better than 0% regards john Very Happy
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Re: Gold share percentage for fellow Prospectors

Post  ROCKDOC69 on Mon May 08, 2017 8:18 pm

Yes good points everyone.
I will offer the 50/50 with just me detecting and hope he takes the 25% with the group.
I will definitely get a contract drawn up, sure the guys wont mind signing it.
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Re: Gold share percentage for fellow Prospectors

Post  Wombat on Mon May 08, 2017 10:23 pm

I have always offered 25% to the property owner. And it seem's OK by them. 25% is at the gold value on the day, and I pay him the very next day. Four of us got onto property with this agreement and we found enough gold to pay for this lease on the property for two months. I also give him my contact details before I start detecting. This makes him feel more conformable with the deal. If I'm thinking of bring on anyone else on, this is also discussed with the property owner before I even start detecting. Then only if the fellow prospector also agrees to the terms and conditions made with the property owner. I have only had one property owner who wanted 50/50. I did not agree with this. But now after thinking about it I may go back and offer him 30/70. I may be willing to go 40/60.
wombat Wink
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Post  bloodgold2 on Fri May 12, 2017 7:26 pm

Hi RD 69, well in the North if I owned a active gold lease that has cost me tens of thousands dollars to own the % for someone to come in and mine it I am on a 15% take of the gold.
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Re: Gold share percentage for fellow Prospectors

Post  adrian ss on Sat May 13, 2017 8:32 am

I guess if the property owner wants some of your gold then he better have a fossickers License /miners right otherwise he has no right to any gold found on his property or anywhere else. If the property owner accepts gold nuggs as payment then he is committing a crime if he does not have the relavent permits.

Hmmmmm. If I am living in the gold fields and buy some gold nuggs and keep them as raw nuggs and a ranger comes round for a cuppa and spots the gold nuggs and asks Is that your gold and I say yes and he says where did ya get them and I says on Ebay and he says Got the receipts and I say Naaah tossed them out ages ago and he says I don't believe ya got em off Ebay show me yer fossickers licence or ya will be fined and yer gold and mining stuff confiscated.
And I said. Pull yer head in ya mug or I'll flatten ya. Very Happy .........Just kidding.....I think  Laughing
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