Check out this very exciting opportunity someone posted on an angel investor website for an offshore Nome, Bering Sea Gold, mining operation:
Looking for investors in up and coming JR Mining company with claims in Nome Alaska, can see more details on Discovery Channels hit TV show “Bering Sea Gold”. Great returns, project potential is in the Billions. Can anyone help out? Seeking investors for Gold Mining Operation in the Bering Sea, off the coast of Nome, Alaska. My company is 1 of 30 that control the gold rights, where there is est. 10 Million ounces of reserves off shore. Finished up the sampling, and raising the money for our first heavy lift mining vessel. We know for a fact we can run 40-80 ounces a day, we will give all of our investors the collateral in the equipment, and 70% of the gold until payout, then 50% for the life of the mine and equipment. This vessel can produce enough gold per season to pay partners a 50% return on their investment for the next 20-30 years. Nome Alaska is home of the most successful gold rush in american history, and the price of gold finally met with the technology needed to extract the reserves offshore as low as 350 per ounce. This is a very unique position, and very low risk with the exit strategies we have already put together. Message me for details. #Gold Mining #Precious Metals #Joint Venture #PrivatePlacement #Gold #Commodities #AngelInvestment
Now here are some of the things wrong with this ad:
His estimate of gold reserves offshore is high, and that is before the BIMA pulled it’s 45,000 ozt out, and the fleet of suction and excavator dredges have worked the area over for 20 years. The high grade stuff is almost all gone.
Now there is a large amount of medium grade gold offshore Nome, but the larger an operation the weaker the grade is that you can count on. This is because the smaller a rig, say a 8″ to 10″ diver operated suction dredge, will follow the narrow trails of gold much better and not waste time on the weaker stuff. For large operation, like the one I run, it’s not economical to skip over that weak ground, the cost determining grade and moving is too high. The grade we run is much lower, but the overall gold amount is higher.
I have dredged on the leases this company owns. Prior to the 2011 lease sale most of these new leases were held under lease from the 1999 lease sale or previous. The specific ones held by this company, I did not find enough gold on to keep my interest enough to bid very much on them. There are vast areas of leased and claimed ground around Nome that are very weak. Yes, there is gold everywhere, but a commercial operation needs to produce paying quantities. And counting on gold going to $10000 per ounce is not a sound business strategy.
It’s basic math that 70% of a small number is a small number. I’ve mentioned West Budreau’s operation in a few of my posts. Over $2,000,000 spent and over 2 seasons with large crews and they still have gotten less gold in total than I’ve done in a month with an 8″ I built for $60,000. As with anything, INVESTOR BEWARE!!!
The size of vessel and scale of operation that would be able to produce their 40 to 80 ounces per day estimate on their ground would be larger than the BIMA, and would cost a great deal more than $350 per ozt to operate.
So this is the third year of a “sampling operation” that is surprising. They don’t even have their second dredge in the water this year and I don’t think their main dredge has worked even 30 days yet this year. Their crew has never indicated that they were on a sampling mission. Last year they spent a large amount of what little dredging time they actually did on a lease owned by someone else.
People can always contact me for the inside scoop and background info on potential Nome deals. If you are someone with a large amount of money and interested more in having a great adventure than you are in reaping a large return on investment, I can also help you out with that, and help you avoid the bad schemes out there.
-Andrew C. Lee
PO Box1370, Nome, AK, 99762