The
Geomineral
Corporation
company currently in inactive status. Geo-Mineral
Exploration Company
was originally formed in the mid 60's as a partnership
by persons
interested in gold and silver prospects to acquire
or stake properties for
development and sale. Several promising properties
were located and held
for this purpose, the Bodie lands were purchased
just before 1970.
Company files hold extensive historical as well as
developmental and
exploration data on these and other claims evaluated
in the Okanogan area
of Eastern Washington. Converted to a corporation
in the early 70's, the
company released all interests in all other properties
and concentrated
on the Bodie land claims.
The company became inactive (regarding income) following
acquisition of
controlling shares by the Hanson Family (70% of outstanding).
There are
five additional individual shareholders left from
the original investors,
three from estate transfers. The corporation was
converted to Sub
Chapter S form last year, has small debt to the family
for recent payment
of property taxes, is harvesting a small unit of
timber to off set.
Shares of Crown Resources are held in treasury.
The Bodie property is comprised entirely of Patented
claims. A county
road, following the outline of Toroda Creek, all
year trout stream,
crosses the lower 1/4 of the property for perfect
access together with
all utilities rarely found near mineral or recreation
properties. Timber
resources are substantial and long term neighbors
friendly in classic
rural terms.