My partner had the contacts and it wasn’t long before we had an agreement in place and the company had a geologist on site. I recall a time when he was getting the lay of the land, so to speak, and he broke off a rock sample and inspected it with his magnifier.

Knowing how and when to deduct the cost and expenses of the vehicles used in the prospecting or mining operation can have significant tax implications.

The settlement did not grant an immediate approval for the project, but it did begin to clear the way for the company to apply for federal permits—a path the Obama administration previously had thwarted.

Let’s take a look at these important property aspects individually, because they all affect the value of a property and how much mining companies might or might not be interested acquiring it.