Bering Sea Gold Expert looking for partners

[AK_Au_Diver]

Bering Sea Gold Expert looking for partners

As many of you know, I have dredged offshore Nome for 8 years, I have designed and built many successful dredges including The Edge from season II and the green ice hut Zeke used on Season III. I ran my own operations with 6" and 8" dredges for six years and for the last two seasons I have been a partner in (by far) the most successful diver-less suction dredge in Nome, which will be operating its 11th season in Nome this summer. While I will continue to work on this operation for the 2014 season, I am contemplating putting together my own, much larger, operation for 2015.

Based on very sound production estimates, sampling, and extensive experience, my design should produce each season between 5x and 10x the amount of gold the CR does, as reported on the show.

I am one of a handful of people in the world with the level of experience in offshore Nome gold mining, diver-less mining technical knowledge, engineering technical skills, and access to good ground to be able to put together a successful operation without the years of R&D and disappointment that other attempts have gone through. While I have the design and construction plan very well developed, I have only started investigating how to fund this project.

I estimate this project will need about $3.5M (includes 15% contingency) by September 2014 to be feasible to be complete, in Nome, and fully operational by the end of June 2015, for a full season. (Operations of this size typically do not start mining until June 21st, due to icebergs; but can stay operating through the end of October, sometimes later)

Ideally I would find up to 12 partners that would each bring at least $250K to the project to raise the $3M more I need, but I know that is not likely. If anyone has some ideas, experience, or interest send me a PM. I know there are all sorts of securities laws I have to be careful about.

In these early stages, I'm not looking for workers at this time.

 

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[Jason in Enid]

Incorporate and sell shares?

 

[specksandflecks]

Sounds ambitious. How much do you charge for an internship?

 

[golden sluice]

Ak au miner, I agree with mr. Jason and incorperate or even get a sponsor... cough cough Keene eng. cough. Lol cough cough gold hog cough... or even Garrett. Just a thought. I would be in my friend if I knew anything about the diving side of things.

Surfing and swimming, yes. Under sea dregding, nope.

 

[AK_Au_Diver]

Incorporate and sell shares?

That is most likely what I would need to do. It's much more legally complicated to do. And unfortunately other operations that have gone the shares route have been attempted by completely inexperienced, new-to-mining, greenhorns and that may have soured the investor pool.

 

[golden sluice]

True, however you are the best of both worlds... one side, the experienced ocean miner. And the other you can research the heck out of it on the internet. money backers in dubai are always looking to deversify.

 

[specksandflecks]

Have you considered who you might approach with this offer? There might be more efficient ways to get what you need.

Suffice to say all parties with 250k might not be equal, this is of course assuming the majority of your planned expenditures do not involve logistics and operating costs and this might not be the case, Obviously I don't know.

What I mean by more efficient is that by approaching certain companies or individuals that already have material (non liquid) assets, you could reduce counter party risk while at the same time offer increased ROI to your potential investor/partners.

Just throwing something out there.

I don't have 250k for your project, but I might be willing to bring along a pulse induction ROV

 

[jog]

Todd Hoffman may be looking for a place to go

 

[AK_Au_Diver]

Todd Hoffman may be looking for a place to go

If Tod Hoffman were to be involved, I would need $10M more, just so I would put up with him.

 

[Merc]

Todd Hoffman may be looking for a place to go

You would need to double that or triple it for the stuff he would break. From what I have seen he does not know how to do anything right. Who in the World in their right mind would take off to go home and leave a Million dollar operation for his crew to set up? Then demand they get so much gold? Then you would have to deal with a film crew which would delay you. Not worth it!

Maybe he had to go home to get the 100 ounces for that D10 he let Parker have? Maybe Jack had to come home for some medical reason? Who knows, they did not tell why or maybe he was just so home sick he could not stand being away from Momma that long? I started to put that a different way but we have Kids on here...

Its all drama, drama and more drama on all of those shows. Like a weekly soap!

My kids like to watch it. I will say Parker seems to be doing a great job, if the crew would leave him alone and let him do what his GrandPa taught him.

Good luck finding understanding partners. Most of the people that invest that kind of money expect timely returns.

Jerry

 

[Peyton Manning]

first I LOVE Parker's grandpa ( ok, not like love love, more of a man crush)
B. you estimate 5-10 times the pomranke's take. estimated profit?
3. where would you dredge? do you have leases?

 

[Peyton Manning]

and does your last name start with an M? followed by a eisterheim?

 

[jog]

If Tod Hoffman were to be involved, I would need $10M more, just so I would put up with him.

 

[AK_Au_Diver]

and does your last name start with an M? followed by a eisterheim?

Nope. If you've read enough of my posts, you've seen links to my (mostly neglected) blog with my name.

I have pictures of one of my cleanups with me holding more Bering Sea gold than Scott has ever mined; and it wasn't even an unusually large cleanup.

Andrew

 

[AK_Au_Diver]

first I LOVE Parker's grandpa ( ok, not like love love, more of a man crush)
B. you estimate 5-10 times the pomranke's take. estimated profit?
3. where would you dredge? do you have leases?

If production is 2000ozt/yr the net profit after all expenses would be about $450K, for 3000ozt the net would be around $1.1M; with gold at $1200/ozt.

I have access to over 2400 acres of deeper water leases.

 

[Ordell]

I have a question. We've seen a few backhoe diggers like the Christine Rose and Au Grabber, but why not a cable crane with the dual scoop bucket like this model?



The CR and others are limited by the reach of the arm, but those cables would give you the chance to go into 20-30-40 feet of water, way out past the riff raff.

 

[AK_Au_Diver]

but why not a cable crane with the dual scoop bucket like this model?

That has been tried recently, not very successfully, I think they got either 30 or 75ozt for the season. There was problems with pinching rocks, with grabbing too much "underburden" let's call it, with aiming grabs, and with slow cycle times. Plus the rocking issues of having too small of a platform, but that could have been solved with a jackoff rig. There are very few places where going deeper into the seafloor gets enough gold to be worth it. The CR is working in one of the few places, the deeper areas were mostly targeted by the Bima. But even the Bima operation stopped the bucket line and tried the Tamrod crawler and found it to be more cost effective but still not profitable.