Exploration, Development and Taxes
May 2007 by Scott HarnFurther demonstrating the importance of seeking professional assistance and advice are the tax rules governing the expenses of a mining company. The tax treatment of mine exploration and mine development costs is confusing, complex and often overlooked or ignored—except by the ever-vigilant Internal Revenue Service.
One hundred and seven years ago the world’s first electric-powered bucket line dredge started to work in Montana. This summer, Montana likely saw its first solar-powered Denver Gold Saver put to work.
How many of you remember hearing or reading the phrase, “only a small percentage of the earth’s recoverable gold has been found?” This more aptly applies to large mining corporations having the means to develop and run large...
The names attached to these areas came about from many sources. Many are easy to see why the name was given while others had a more contrasting note to them.
• Biden’s incoming administration has green agenda
• Habitat definition finalized
Goldville, Alabama, (pop. 61) is located in hilly and forested country at an elevation of 1,018 feet, in the Piedmont physiographic province. It is near the northern boundary of Tallapoosa County.
Within a very few minutes, I had my first nice sounding target. It turned out to be a nice earring-size gold piece that was about a half a gram.
Welcome back to our mining claim. In part one we located our claim, sunk our shaft, and stored some ore in the ore bin. Now we must decide how we are going to extract the gold. We briefly discussed setting up a lab in a 40-foot semi-trailer at the mine site, so let’s decide what we are going to need in the lab.
The Bawl Mill • Ask the Experts—Where can I find plans for a home-built suction dredge? • Ask The Experts—Can you help explain the ratings in Melman On Gold & Silver? • Recovering Values from Black Sands • Typhoon Exploration—Junior Mining Company Moves Forward in Quebec • Kalgoorlie, Australia—Born of Gold • Colorado Court Rules on Cyanide Ban • Selling Your Gold—Where To Start • The Business of Mines—Consider Your Tax Deductions Now • US v. Donald Eno—IBLA Rules in Favor of Miner • Miners Clean Washington Rivers and Streams • Melman on Gold & Silver • Mining Stock Quotes, Mineral & Metal Prices • Looking Back