Seeking Financial Partner[s] ?

[Simon1]

*chuckles* Would that be a certain black bird you are referring to - I wonder ...

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E X A C T L Y what I was thinking Loke ! Mal speaks the truth and has experience too. Good catch Loke and hats off to Mal and acquaintances

 

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[coazon de oro]

I guess you could say I have been around long enough to know X never marks the spot

Howdy DJ,

The main reason that X does not mark the spot on most treasures, and lost mines is due to the change of magnetic declination. Most treasures use compass points as direction, but over the years the magnetic declination changes, this will make one miss the X. Just look up the historical magnetic declination for that area, and for the year the treasure was hidden.

Homar

 

[coazon de oro]

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E X A C T L Y what I was thinking Loke ! Mal speaks the truth and has experience too. Good catch Loke and hats off to Mal and acquaintances

His partners put a gag order on his beak, I guess he was cawing too much.

 

[Oroblanco]

Ok resident experts, I'll keep this short, how does one go about finding a financial partner? There are many wacko's out there and lets face it, I just might be one of them.
Go easy, Any advice would be greatly appreciated.
Thank you in advance
DJ

I would suggest to advertise in the International Mining Journal and perhaps also the treasure magazines like Western and Eastern Treasures, Lost Treasure etc, looking for investors. As for the actual contract, the first thing would be a signed non-disclosure agreement before you disclose any kind of details. Then all you really need is a grubstake contract - the investor(s) put up the financing, you do the finding and recovery, they get half of the proceeds. Some states have a legal requirement for a grubstake agreement that has a time limit which is a good idea, I think Colorado requires a one year period from the date of signing, others might be slightly different. It is not common today but was once very common practice to have grubstake partners financing the search for minerals.

I have had grubstake partners in the past and never had any issues, but would recommend that you should be 100% honest with your grubstake partner right up front - if you have a prison record or had a bankruptcy etc just tell them up front. If that drives away your partner don't fret over it, most people are adult enough to know that everyone makes some mistakes in life. If you lie about even little things, it will raise suspicions about you in the big things and you could end up very sorry you ever entered into any partnership at all. If you can possibly find and recover your treasure without any partners involved it is the very best way, because partnerships rarely ever work out, most end up as enemies. So think hard about it before you put everything on the line for a prospective partner, because things can go very badly and very fast, you need to have NO doubts about your partners before you commit.

Good luck in your quest amigo, I hope you find the treasures that you seek.

Oroblanco

 

[South Sea mariner]

I would suggest to advertise in the International Mining Journal and perhaps also the treasure magazines like Western and Eastern Treasures, Lost Treasure etc, looking for investors. As for the actual contract, the first thing would be a signed non-disclosure agreement before you disclose any kind of details. Then all you really need is a grubstake contract - the investor(s) put up the financing, you do the finding and recovery, they get half of the proceeds. Some states have a legal requirement for a grubstake agreement that has a time limit which is a good idea, I think Colorado requires a one year period from the date of signing, others might be slightly different. It is not common today but was once very common practice to have grubstake partners financing the search for minerals.

I have had grubstake partners in the past and never had any issues, but would recommend that you should be 100% honest with your grubstake partner right up front - if you have a prison record or had a bankruptcy etc just tell them up front. If that drives away your partner don't fret over it, most people are adult enough to know that everyone makes some mistakes in life. If you lie about even little things, it will raise suspicions about you in the big things and you could end up very sorry you ever entered into any partnership at all. If you can possibly find and recover your treasure without any partners involved it is the very best way, because partnerships rarely ever work out, most end up as enemies. So think hard about it before you put everything on the line for a prospective partner, because things can go very badly and very fast, you need to have NO doubts about your partners before you commit.

Good luck in your quest amigo, I hope you find the treasures that you seek.

Oroblanco

Hola amigo

Some interesting points. Its easy see how people group together have apposing view and tear a project apart. History is full of those failures. I think for any partnership to work you must have clear objective on how what where and agreed method of achieving those goals.

Mal

 

[Mackaydon]

DJ

If you are 'hunting' for a financial partner and other mission requirements, you need 'ammunition'--in the form of distributable information that I will describe; but first:


As South Seas mariner' mentioned in #4 above, you should have a Business Plan (with an Elevator Pitch-- Executive Summary) available for qualified potential business partners.


Depending on the nature of your mission, you will need to cover--to some degree--the following topics in the Business Plan:
1. Capital requirements; including a budget for the duration of your project.
2. Supportive research
3. Equipment required
4. Personnel ( and requirements for each position--including a lawyer; well qualified in the field of interest)
5. Permits and Agreements
6. Target and its anticipated value
7. Distribution of The Pie: Being quick to tell your partners there is only 100% available to include all parties.


If I were not (eventually) presented with all this information, I would politely decline the opportunity to particiipate.


Don...just my personal opinion