This has been discussed in depth before about all the issues:
However I wonder if it was more of a flexible investment company.
$5000 to get a claim (could be more)
10 people needed @ $500 investment each.
6 are Investors Only
Perhaps they come down to hand sluice, pan or detect occasionally, no fee charged. If they have family helping they’re charged $10 a week for each person over the age of 10, due to them being able to move more paydirt, this fee goes towards paying the $5000. 30 days limit per year, if they want more time they pay $20 for an extra week.
4 Dedging Investors, they pay an annual fee of $200 (towards investor profit) per worker for the right to dredge and they need to contribute towards paying off the $5000 investment.
Investors Only could hand sluice, pan, detect for $50 per year, This fee goes towards paying off the $5000 investment. (this is for people that want to spend more than 30 days)
The amount of dredgers vs Investors is just a rough estimate.
Annually the profit for each investor would be upwards of $40, greater than 8% return, it’s a good rate.
These figures would change if there were more investors, and less dredgers.
No one would neccessarily get rich off this, however it could be a full time job for the dredger investors. And could expand to more than one claim.
So at the end of the claim licence there is $5000 cash in the bank, each investor has at least $40 profit (including dredgers). People have used the claim for detecting, sluicing, and on their holidays.
Now there is $5000 for renewing the claim or buying/applying for a new claim.
This money can also be used by dredgers to purchase equipment - subject to approval from investors. They’ll need to pay the money back.
Even though the dredgers pay the most, they have distinct advantages, including being investors themselves & gaining that profit on their investment. Also having the cash to move the claim to a new location.
All investors would be known to each other, likely from the forums. Anyone that wants to invest would have to be well known to the group, come down to meet up and hang out. Subject to approval by everyone else.
Investments would need to be made for a minimum of 1 year - they can only be withdrawn once a year - to help keep the company stable. (more like a term investment)
There would need to be a kind of pass system for dredgers to check, and perhaps an online site where people state usage dates & where they are using the claim (to track usage, monitor correct behaviour).
Let me know if you think its good, bad, or any problems?