RE: The proof is in the pudding...2 Aug 2022 21:54
Tand,
Your analogy is an interesting one.
So you brought a property with a massive mortgage. OK but as long as the value of the asset is greater than the mortgage you should be fine. (Your italian family friends mortgage terms are poor I understand)
You then say you discovered biblical wealth in the sub strata. And now you can't see a way to finance the excavations, nor have the tools to do so.
May I suggest you take your title deeds alongside, Professor Scott Ryders estimation on new land value to a commercial bank.
It may indeed require a revolver to rid yourself of the "Italian " loan. But it can be done if the asset is great, they will even lend enough for equipment hire.
But they may dispute your claim to own right down/through to the other side of the planet.
Why do I know this, because I live on the opposite side and I have claim to everything below, to the centre point.
Good Luck