Massachusetts Sale of Lode Mine with Royalties Applied to Purchase Price

• Category: Oil Gas and Minerals
• State: Multi-State
• Control #: US-1341021BG
• Format: Word; Rich Text

Description

Lode mining is also called hard rock mining. Originally, all gold is deposited in a lode or vein filled with mineral in the rock, such as the gold-rich veins discovered in Cow Mountain. A royalty is a percentage of gross or net profit or a fixed amount per sale to which a party is entitled which is agreed upon in a contract between the parties.