Claim partnership question/advice

[mellowyellow]

Hey all, thanks for reading!

Well I have been looking for a claim over a year and been playing around with LR2000 with TimC.
My first and only time to the N Yuba river, I fell in love with that area. Downieville is such a COOL town!

I soon started to realize that almost the entire N yuba river is claimed! Sucks. Then a month ago I was approached by a friend of a friend. He wants to sell his part of the claim partnership. It's 3 people partnered on the claim. I know for a fact these are good people.

Details-- it's on the N Yuba river just a few miles from downieville. The claim was originally owned by Major Downie of downieville , LOL , kinda cool eh! The guy wants to sell his part of the claim because he owns several claims in that area already and he's fairly old and just can't work em all. Here's the prob..... It would cost me $5K to buy in. This is what he paid on his part. I know this is NOT a scam. These are people I know. Wow that a lot of cash.

Is is worth it?? Without dredging it would take Me a long time to get $5k worth in gold, lol . I also live in SoCal so it's a fairly long trip. I would prob try and get to the claim 4-6 times a year or so, maybe a bit more. I would be high banking, sluicing and sniping. The claim is 40 acres btw.

Thanks for any feedback or opinions fellas!

 

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[Lanny in AB]

If you're buying a portion (1/3) of a claim, does that mean that the other two can always vote against what you wish to do? It might pay to find out how things are decided: ie, can you do what you want when you want with your portion? As others have said, sometimes going in to a claim split can cost you your friends, and sometimes it turns out to be a great experience. Ask all the questions you can think of before paying any money; for instance, can you sell your portion any time you wish, or do you have to have their approval? Do you split the annual expenses equally? Can you invite who you want to visit? Etc.

All the best,

Lanny

 

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[mellowyellow]

Mellow

What about East Bay Prospectors, they have claims in Downieville, North Yuba, I believe Hurthawk on this forum is a member of that chapter.

Photo Gallery - Eastbay Gold Prospecting & Treasure Hunting Club

Thanks for the link! Gonna check it out for sure. Interesting.

 

[mellowyellow]

If you're buying a portion (1/3) of a claim, does that mean that the other two can always vote against what you wish to do? It might pay to find out how things are decided: ie, can you do what you want when you want with your portion. As others have said, sometimes going in to a claim split can cost you your friends, and some times it turns out to be a great experience. Ask all the questions you can think of before paying any money; for instance, can you sell your portion any time you wish, or do you have to have their approval? Do you split the annual expenses equally? Can you invite who you want to visit? Etc.

All the best,

Lanny

Yeah, there's a lot involved when there's 3 people. A lot of the fine details were told to me, but there's still some unanswered questions for sure. But I'm not gonna buy it so no biggy. Decided no. Number one reason is cash! Thanks again for all the feedback guys!!!

Mellow

 

[mellowyellow]

For you browsers, Major Downie, with his party discovered very rich diggins at the confluence early in the Gold Rush, of the NF Yuba river and the Downie
river. One location was known as the "tin cup" diggin's. Said a miner could get a pound of gold per day with just a knife and a tin cup.
Also Jeff and Dot Coffey spent a wonderful time mining here in the true story "Bacon and Beans from a Goldpan" a must read.

Thanks and cool story!!!

 

[mellowyellow]

Mellow. Your talks with Tim surely showed you the possibilities open to you. 5k for a portion of a claim may be worth it to some. Thousands paid millions for the chance during The Rush. Very few made it. The choice is yours alone. A club membership, with the chance to hit the pay streak, may be a better bet. Choose wisely Grasshopper. TTC

Yo TC, I know but it got confusing on LR an I don't want to bug Tim over and over again. The area in lookin is part of a conservation. It was very confusing trying to locate open land. I'm
Gonna have to call him a few more times. I'm not giving up on locating a claim in Mojave/randsburg area. I already have a ton Of club member ships. Next time I go out going to do some ground pounding and hit a new area.


Thanks again TC

 

[Fullpan]

Good idea, Oak - Comstock Gold Prospectors have claims there too.(Reno) And they have several members from Cal.

 

[Oakview2]

Don't get me wrong, I would love to see him get a claim, but the three way thing is bothersome, and with so few visits, it seems like a lot of dollars

 

[TerryC]

Yo TC, I know but it got confusing on LR an I don't want to bug Tim over and over again. The area in lookin is part of a conservation. It was very confusing trying to locate open land. I'm
Gonna have to call him a few more times. I'm not giving up on locating a claim in Mojave/randsburg area. I already have a ton Of club member ships. Next time I go out going to do some ground pounding and hit a new area.


Thanks again TC

Tim lives by himself. He knows the LR2000 as well as those that put it together. He can meld the LR and Google Earth to do things probably not thought of by the BLM. Tim THRIVES on the calls made to him asking for his advice. He also has terminal cancer so get that info NOW, while he is able to! I assure you, he enjoys the calls. TTC

 

[mellowyellow]

Ok TC, I will call him for sure this week. It saddens me deeply to hear about his health. I knew he was sick but not that. I have watched most of my family pass away from cancer. My prayers to you , Tim an the whole family. God bless

 

[MadMarshall]

Good idea, Oak - Comstock Gold Prospectors have claims there too.(Reno) And they have several members from Cal.

Do you have any information regarding the KEN BENNETT claim. I beleive it is one of comstocks gold prospecting claims the only one in california that I know of.

 

[Fullpan]

MM - Ken Bennett - location: NF of the MF of the American River, near Forest Hill, Ca. Sorry,I'm not a club joiner, so I don't know details. This is from their
website -Steven Clark, Vice Pres. and Claims Report:
[email protected]
Tel: (775) - 575 - 9244
Remembered I'd seen it someplace on Google Earth with claim map overlays. It shows 2 claims - approx. 4.3 air miles ENE from
Michigan Bluff. 2nd one - 5.6 ENE. Use this only as a clue as my info is outdated and prooven to be wrong.

 

[Reed Lukens]

Yea, I've been to the Ken Bennett but Comstock has many good claims and this one is 4wd with posi access with a low 1st gear only. So Major Downie had this claim? in other words it's been worked pretty hard for the last 160 years & you're talking about a 40 acre claim that they say is worth $15,000.00. Hmmm, well yea mine is worth that much and more TO ME because of the location, access, availability to get motor homes and trailers into plus gold & spring fed. So does this claim have all that? A place with clean spring water or do you have to filter the river water? Why would you want your wife to have to stay in town? Is there no camping on the claim? You don't put in a toilet for her? Check out some of my series that we shoot on my claim & then ask yourself if the Downie claim is really worth it because there are a whole lot of claims on the North Yuba that have been cleaned out for a long time. If it doesn't have drive in camping access maybe $5000.00 for the entire claim is more in order if it still has gold. You need permission to go there and check it out for yourself before doing anything. North Fork claims "WERE" worth a lot of money back when we could dredge but now the beauty and access to the river of the claim is all there is to sell. Personally, I would plan ahead, get reservations at one of the campgrounds in the area and then mine at the open locations provided there for the usual camping fees unless you plan on living there all summer. $5000.00/ $15,000.00 right now being that dredging isn't legal just doesn't make me want to jump on it at all. Then to top it off, if you don't know your partners, that lessons the deal even more. Is there room for all of you, your partners, & all of the families there to camp together and park with no hassle? If not, then absolutely "NO"
The Golden Vacation - YouTube

 

[mellowyellow]

Yea, I've been to the Ken Bennett but Comstock has many good claims and this one is 4wd with posi access with a low 1st gear only. So Major Downie had this claim? in other words it's been worked pretty hard for the last 160 years & you're talking about a 40 acre claim that they say is worth $15,000.00. Hmmm, well yea mine is worth that much and more TO ME because of the location, access, availability to get motor homes and trailers into plus gold & spring fed. So does this claim have all that? A place with clean spring water or do you have to filter the river water? Why would you want your wife to have to stay in town? Is there no camping on the claim? You don't put in a toilet for her? Check out some of my series that we shoot on my claim & then ask yourself if the Downie claim is really worth it because there are a whole lot of claims on the North Yuba that have been cleaned out for a long time. If it doesn't have drive in camping access maybe $5000.00 for the entire claim is more in order if it still has gold. You need permission to go there and check it out for yourself before doing anything. North Fork claims "WERE" worth a lot of money back when we could dredge but now the beauty and access to the river of the claim is all there is to sell. Personally, I would plan ahead, get reservations at one of the campgrounds in the area and then mine at the open locations provided there for the usual camping fees unless you plan on living there all summer. $5000.00/ $15,000.00 right now being that dredging isn't legal just doesn't make me want to jump on it at all. Then to top it off, if you don't know your partners, that lessons the deal even more. Is there room for all of you, your partners, & all of the families there to camp together and park with no hassle? If not, then absolutely "NO"
The Golden Vacation - YouTube

Hey reed, thanks for your feedback. Yup, I am going to pass on it. Too far and way $$$.

Yes it's prob been worked hard just as the entire n yuba has. The access is not to bad, just a walk down to the river, lol. About 60 feet from where I park. There are a ton of camping /RV spots for me to park but my wife doesn't like my tent trailer, lol. She's not much of a camper. She is more of a hotel girl. Least she's honest! Haha.

The guy who wants to sell his part to me was a successful Hollywood stunt man. He's a straight up guy that offered to go to the n Yuba with me to physically see and look at the claim prior to purchase. Nice gesture. I didn't take him up on it due to the fact I never really had the $$. Plus I had a chance to see it when I worked "beans bar" claim near it. Pat Keene let me work one of his claims there for free. Another nice gesture!

One of the partners btw is pat Keene. Another guy is a fireman. I know pat well, and trust him. To be honest, pat actually advised me NOT to buy in this claim and just continue to work his claims there when I go. I just wanted part of my own so I don't have to ask or bug him every time I go up there.

After so much good feedback and thought, and being not in the best place financially, I am going to NOT buy in . I will just go there and work free areas and Pats claims if he continues to let me.

Thanks for the video link, gonna watch now.