I own a 15 acre farm and was approached 2 weeks ago by a coal land company to purchase the right to mine the coal or lease the right to mine.
I dont own the coal rights. I own oil and gas rights on it. I thought that once they owned the coal rights they dont need to purchase or lease the permission from me to mine the coal.
I meet with the guy tomorrow and waswo dering if anyone knew what a going rate per acre in north central West Virginia was worth?
Ok update they offered 21k upfront to sell the subsidence rights to go mine to coal or 125k for the royalty lease if i wait 15 years for them to make it there to mine.
I dont want to deal with all the shady stuff on waiting to go with the royalty and never know if they run into bad top and cant make it there.
Any suggestions on if they would be open to coynter offers and what should i counter with.