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Everyone who knows anything at all about mining knows that "owning a mine" (any kind) says nothing whatsoever about the wealth of the owner. It's quite common t
by Turing_Machine 3y ago
Everyone who knows anything at all about mining knows that "owning a mine" (any kind) says nothing whatsoever about the wealth of the owner. It's quite common to put more money into the ground than you ever get back out.
I've known several gold mine owners over the years. To be blunt: none of them had a pot to piss in. Some of them made enough to get by, but that's it. Others had to subsidize their mines by working in town part of the year.
- sharts 3y agoTakes money to buy mines. Whether that was a good/bad investment isn’t the point.
- Turing_Machine 3y agoNot much. In the U.S. you can just file a claim. There are processing fees, etc., but those aren't that much. Or you can buy one that someone else has claimed and not have to do all the paperwork. Ten gold mining claims for sale, right here. All filed and proved up. US$12k each. https://hopemining.com/claims/six-mile-claims/ https://hopemining.com/claims/six-mile-claims/ There are hundreds of others. Perhaps things are different in South Africa, but I seriously doubt it.