Mineral & Land Services Team Recovers Millions in Revenue
For mineral owners, having access to comprehensive, professional mineral management comes with plenty of benefits, from accurate appraisals and expert consulting services to the confidence that comes from full visibility of your mineral interests.
Mineral management can also be the difference between having access to millions of dollars’ worth of revenue – and having it tied up in suspense.
Such was the case recently, when the First International Bank & Trust (FIBT) Mineral & Land Services recovered $6.5 million in suspended revenue for a client – the largest single sum of suspended money our team has ever worked to release.
That major fund recovery did not happen overnight; it was the result of months of advocacy on behalf of our client’s mineral interests, and it highlights the value that comes from working closely with a team like ours.
–
About one year ago, a member of the FIBT Mineral Management team noticed that his client received a smaller payment than expected. This began a months-long process involving emails, phone calls, letters, and in-person meetings to get to the bottom of why our client’s royalty payment was being held in suspense.
Revenue can be held in suspense for a number of reasons, including title issues, missing ownership information, legal disputes, or regulatory holds. Comprehensive mineral management like that provided by FIBT can play a major role in untangling the web of documents, agreements, and regulations to ensure that money reaches the rightful parties.
That’s exactly what FIBT did in this case. After several months of meetings to clarify the situation, we were able to resolve the issue, and our client received the $6.5 million they were owed.
–
Not every example of suspended revenue will be as sizeable as this one – but when it comes to ensuring our clients receive the royalties they are owed, any amount of money is significant. The expert management, appraisal, and consulting services that FIBT provides allow our clients to maximize the value of their mineral rights – and we’re proud to advocate for our clients in this way.
To learn more about the Mineral & Land Services team, we encourage you to call us at (833) 842-2924 or email info@mineraltracker.com. You can also visit our website to become more familiar with the suite of services we provide, including our proprietary MineralTracker software.