Gold in Nicaragua
(Sheridan, Wyoming USA)
I've looked into the book further and did some research on about how much gold my grandfather produced at his mine. It was somewhere around $15,000 - $20,000 a day.
I was wondering if this might be an accurate enough number to be worth investing in for a larger company that is already down there.
I've also searched through a couple of attorneys that specialize in the mineral fields and wondered if you think that's the right way to go about it (Garcia Bodan is the one I looked into)
Or, if you could get me through directly to one of the companies down there to deal directly with them to assay the property and to see if it's worthy of investment.
Stan's response: Here is what I would do Andrew...
This is a sort of a family secret you have. I would try to keep it a secret as long as possible. If you send a stranger into this "secret" area to check it out for you, they could end up claiming it for themselves before you can.
I would first try to investigate Nicaragua's Department of Energy and Mines "mineral concession list" to see if your grandfather's exact site is currently under concession by someone or not. I have no idea how Nicaragua works, but Ecuador's concession list is on the internet for anyone in the world to see.
If the area is already under concession, the deal is most likely off. If there is no concession, or if you can't find out, I would make a trip to Nicaragua and visit the government mining department, in person, to see if the area is already taken or not.
If the area is not under concession, I would travel to the site and test it for myself. I would try to relocate your grandfather's workings.
If you can find the site and prove that it is as rich as you think, I would immediately file a concession before leaving the country. You may need to raise some seed capital if you can't afford this yourself.
Once you have proof of the viability of the project and a legal concession, then you can approach mining companies about a joint venture or an outright sale.
If it were me, I would raise venture capital to prove up the property (geological studies, drilling, etc.) before selling or joint venturing.
If you can find your grandfather's site and confirm there are no current concessions on it, then I could help you further.