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Gold Mine for Sale, but It Will Cost You $43 Million
With the price of gold at more than £1,000 per ounce, it would seem like the perfect time to invest in a gold mine. An estate agency in Arizona is selling one, complete with 117 acres of land. It's thought the gold mine could contain as much as £107 million worth of gold, but of course it could be a lot less.
The mine originally opened back in 1874, but wasn't fully mined due to an economic downturn in the 1890s. Over the years a number of businessmen have been interested in purchasing the land, but it's never been mined commercially. The mine is being sold through Sotheby's, and apparently there are at least 30,000 tonnes of gold ore beneath the surface of the land. However this would only guarantee the new owner an income of around $12 million, which is significantly less than the asking price, but some figures suggest there could be as much as 380,000 tonnes of gold ore, meaning the gold would be worth $170 million. This sounds like a much better return, but obviously it's not exactly a picnic getting gold out, especially as the tunnels are known to be infested with rattlesnakes.
The property is set in a fairly exclusive area of Arizona as it’s near to 6 Jack Nicklaus golf courses, and a number of luxurious homes. Estate agents are suggesting there could be a number of uses for the land after the mine has been depleted. These include using it for underground storage, or even underground housing. Alternatively the money could be spent on something a lot less risky, as there are probably more people who have lost fortunes looking for gold than made them.