South Dakota Sale of Lode Mine with Royalties Applied to Purchase Price
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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.
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