Doc,
Allow me to add....as I'm sure we both know the issues you outlined cover only a small amount of the planning for just A CHANCE of a successful project. Equally important is "How is the pie going to be divided?" When I sit down with a representative of 'one piece of the pie', I ask him if he think his contribution (of whatever) will be greater to the success of the project than another aspect of the project thereby justifying a greater piece of the pie? I then draw a pie and ask:
How should 100% of the pie be divided between these contributors?
The financier, the researcher, the lawyer (who gets the permits and handles all legal matters/risks), the guy with the equipment (and his crew), the government, the conservator and appraiser (if needed) and the actual finder/discoverer of the target. If each of these aspects is required, how is (say) 60% to one entity justified? Then, if the venture is successful, how is the 'net' going to be divided (What is the pre-established process?). How will the pile of goodies be divided? Who has the first, second, etc. pick?
I'll stop there..........
Best of the New Year to you all; may our treasure hunting dreams become our reality in 2015.
Don.....
PS: Ecominer, thanks for bringing up the subject.
Allow me to add....as I'm sure we both know the issues you outlined cover only a small amount of the planning for just A CHANCE of a successful project. Equally important is "How is the pie going to be divided?" When I sit down with a representative of 'one piece of the pie', I ask him if he think his contribution (of whatever) will be greater to the success of the project than another aspect of the project thereby justifying a greater piece of the pie? I then draw a pie and ask:
How should 100% of the pie be divided between these contributors?
The financier, the researcher, the lawyer (who gets the permits and handles all legal matters/risks), the guy with the equipment (and his crew), the government, the conservator and appraiser (if needed) and the actual finder/discoverer of the target. If each of these aspects is required, how is (say) 60% to one entity justified? Then, if the venture is successful, how is the 'net' going to be divided (What is the pre-established process?). How will the pile of goodies be divided? Who has the first, second, etc. pick?
I'll stop there..........
Best of the New Year to you all; may our treasure hunting dreams become our reality in 2015.
Don.....
PS: Ecominer, thanks for bringing up the subject.