A gold lease for sale Western Australia listing is usually a mining tenement granted under the state’s Mining Act, not a piece of land. Here is which tenement you are actually buying, what it costs to hold, how to check it on the state’s registers, what a transfer involves, and how Queensland, New South Wales, Victoria, the Northern Territory and Tasmania differ.
Focus Western Australia tenements
Registers MTO ยท TENGRAPH ยท MinView ยท GeoVic
Format Due-diligence guide
Most people searching for a gold lease for sale Western Australia want one of three things: a small prospecting licence to work with a detector, an exploration licence to test a larger area, or a mining lease with a history of production. Each is a different legal right, with its own size limit, term, rent, expenditure condition and transfer rules. The asking price only makes sense once you know which one is on offer and whether it is in good standing.
Try it: WA tenement cost-to-hold check for buyers โ
This rewrites and expands our earlier overview of WA gold leases. It sticks to the practical checks a buyer should make on Western Australia’s official registers, then summarises the systems in the other states and territories, including what to look for in a gold mine for sale in Queensland or a gold lease for sale in NSW. We finish with a checklist and a look at how independent satellite screening can test the ground before you commit. If you are also weighing ground outside Australia, our ten checks before you pay for gold claims apply to any market.
Farmonaut is not a marketplace, broker, agent or lawyer, and we do not list, buy or sell leases, claims or mines. We provide independent satellite-based mineral intelligence on any tenement boundary you send us, as one input to your own due diligence. Confirm tenement details with the relevant state department and get legal advice before you sign.
“Western Australia sold 214 tonnes of gold in 2021โ22, almost 70 per cent of all the gold sold in Australia.”
What a gold lease for sale Western Australia listing actually is
Mining in Western Australia is governed by the Mining Act 1978 and the Mining Regulations 1981. Since 1 July 2025, the tenement system has been run by the Department of Mines, Petroleum and Exploration (DMPE), which took over the resource regulation role of the former Department of Energy, Mines, Industry Regulation and Safety. Older listings may still mention DMIRS or DEMIRS.
The Act has three main tenements used for exploration and mining, and the phrase “gold lease for sale Western Australia” can mean any of them. Start by asking for the tenement number and looking it up.
| Tenement | Size | Term | What it allows |
|---|---|---|---|
| Prospecting licence | Up to 200 ha | 4 years; can apply for a 4-year extension or a retention licence | Small-scale prospecting: sampling, trenches, pits, drilling |
| Exploration licence | Up to 70 blocks (200 in designated exploration areas) | 5 years; can apply for a 5-year extension or a retention licence | Larger-scale exploration |
| Mining lease | No maximum size | 21 years initially, renewable for a further 21 | Mining and commercial production |
For any gold lease for sale Western Australia buyers look at, these figures come from the Environmental Defenders Office’s summary of the WA Mining Act (September 2024 edition) and the department’s page on mining tenure types in Western Australia. You need a mining lease to start commercial production. A prospecting or exploration licence lets you explore, not run a mine.
Prospecting leases for sale in WA are usually licences
Searches for a “prospecting lease for sale Kalgoorlie”, or for prospecting leases for sale in WA generally, usually mean a prospecting licence. The difference is not just a word. A licence is an exploration right with a fixed term and conditions, while a lease is the production-stage title. If a seller calls a prospecting licence a “lease”, ask why, and check what the register says. Plenty of gold leases for sale in WA turn out to be prospecting licences once you look them up, so do that first.
The same applies to ads for gold prospecting leases for sale in WA or prospecting leases for sale in Western Australia more broadly: the register will show a prospecting licence (P-prefixed), an exploration licence (E) or a mining lease (M). Only the last is a gold mining lease for sale in WA in the full sense. When someone offers gold mining leases for sale in Western Australia, ask for the M number, because a genuine gold lease for sale Western Australia buyers can mine on will always have one.
“Claim” is also a loose word here. WA has no mining claim title, so an ad for gold mining claims for sale in Australia usually means a WA tenement, a Queensland mining claim, or a North American listing. Claims in the United States and Canada are different titles with different fees, as our guides to British Columbia gold claims and their holding costs and staking and paying for BLM mining claims explain.
Private land and the 30-metre rule
Some tenements sit over private land. The EDO summary notes that where the owner and occupier do not consent, a mining tenement over certain private land may only be granted for land more than 30 metres below the natural surface. If a gold lease for sale Western Australia listing overlaps farmland, check how the tenement was granted and what access arrangements exist.
In WA, a mining lease is the only tenement that lets you mine commercially. Many “gold leases for sale” are in fact prospecting licences near historic workings. That can be a sensible buy, as long as the price reflects an exploration-stage right and not a producing mine.
What a WA tenement costs to hold, year by year
$860 a year in rent and $8,000 a year in required spending: that is the floor on a full 200-hectare prospecting licence under the Mining Regulations 1981 (version as at 1 September 2025). Schedule 2 sets rent at $4.30 per hectare for a prospecting licence (minimum $39.70) and $29.30 per hectare for a mining lease. The expenditure conditions are separate: regulation 15 requires at least $40 per hectare on a prospecting licence with a $2,000 minimum, and regulation 31 requires at least $100 per hectare on a mining lease with a $10,000 minimum ($5,000 if the lease is 5 hectares or less).
Exploration licences work in blocks, and their costs climb with age. For a graticular licence, Schedule 2 charges $173 per block a year in years 1 to 3, $310 in years 4 and 5, $424 in years 6 and 7 and $803 from year 8. Regulation 21 adds minimum spending of $1,000 per block in years 1 to 3, $1,500 in years 4 and 5, $2,000 in years 6 and 7 and $3,000 from year 8, with minimums that depend on the number of blocks (for 6 or more blocks: $20,000, $30,000, $50,000 and $70,000). The department publishes the regulations; check the version date on the PDF, because Schedule 2 was replaced in 2025 (SL 2025/90).
Put those rules together and you can estimate what any gold lease for sale Western Australia sellers list will cost you before you make an offer, including any spending shortfall the seller leaves in the current tenement year.
WA tenement cost-to-hold check for buyers
Assumptions: Mining Regulations 1981 (WA) as at 1 September 2025. Rent: prospecting licence $4.30/ha (minimum $39.70), mining lease $29.30/ha, graticular exploration licence per block $173 (years 1 to 3), $310 (4 to 5), $424 (6 to 7), $803 (8 on); a 1-block licence is treated at the per-block rate. Minimum expenditure: prospecting licence $40/ha, minimum $2,000; mining lease $100/ha, minimum $10,000 ($5,000 if 5 ha or less); exploration licence per block $1,000, $1,500, $2,000 and $3,000 by the same year bands, with minimums for 1, 2 to 5 and 6+ blocks. Transfer registration fee $155 per tenement (Schedule 2 item 20(e)). Excludes stamp duty, rates, rehabilitation, exemptions and term limits. Confirm every figure with DMPE before relying on it.
Costs beyond the asking price
The price on a gold lease for sale Western Australia listing is only the first cost. Transfers carry the $155 registration fee and a stamp duty assessment. Holding costs are the rent and the minimum expenditure the tenement’s conditions require. Then there is advice (legal review of the sale agreement and the conditions, and tax advice on the structure) and evidence: satellite screening, a site visit and independent sampling before settlement.
- โ Obligations you inherit: rehabilitation of any disturbance on the ground, and reporting deadlines you must now meet.
- Exemptions cost money too: Schedule 2 charges $494 to apply for a one-year exemption from expenditure conditions on a prospecting licence and $459 on a mining lease, and an exemption is not guaranteed.
Price any listing on three things: remaining term, the conditions you inherit (rent and minimum expenditure), and independent evidence of the geology. A lower price rarely makes up for a short term and heavy expenditure commitments on untested ground.
How to check a WA gold lease on the official registers
Western Australia gives buyers two official online tools. Use both before you negotiate on any gold lease for sale Western Australia sellers advertise.
Mineral Titles Online (MTO)
The department’s Mineral Titles Online system holds details of exploration and mining tenements across the state and is where transactions with the Mineral Titles Division are lodged. Use it to confirm the tenement type and number, the registered holder, the grant and expiry dates, the area, and any registered dealings such as transfers, mortgages or caveats.
TENGRAPH
TENGRAPH is the department’s spatial enquiry and mapping system. It shows where each tenement sits in relation to other land information. Use it to check the boundary against the seller’s map, to see neighbouring tenements and pending applications, and to spot overlaps with reserves or other land that could limit what you can do.
- โ Holder matches the seller, or the seller has written authority from the holder.
- โ Status is live: the tenement is granted, not an application, and not near expiry without a renewal in hand.
- Boundary on TENGRAPH matches the workings or targets the seller described.
- โ Caveats and mortgages: the department notes that a caveat blocks registration of a dealing until it is removed or cleared.
Print or save a dated copy of the MTO tenement report and the TENGRAPH map on the day you agree terms, and again just before settlement. If anything changes between the two (a new caveat, a dealing, a change in status) you will know before your money moves.
If you have a tenement number or boundary in hand, you can also get an independent read on the ground while the legal checks run. Draw it on mining.farmonaut.com (Map Your Mining Site), or send the coordinates through our mining query form.
Questions to ask the seller of a gold lease for sale Western Australia
Before you spend on travel or advice, ask the seller of any gold lease for sale Western Australia offers for a short, written file. A serious seller should be able to provide:
- โ Tenement number(s) and a current MTO tenement report.
- A digital boundary (KML/KMZ or shapefile) that matches TENGRAPH.
- Conditions and compliance: the tenement’s conditions and recent expenditure and reporting history (the Form 5 expenditure reports).
- Geology: any sample results with laboratory certificates, drilling logs and past exploration reports.
- โ Encumbrances: mortgages, caveats, royalties, joint-venture or option agreements over the ground.
- Access: how you reach the ground, and any agreements with landholders.
Gaps in this file are not always a problem, but each one is something you will have to fill yourself, at your own cost, before you can value the tenement.
Buying a gold lease for sale Western Australia: transfers and consent
A tenement transfer in WA is a registered dealing. The department’s guidance on mining tenure dealings describes two main types: transfers, which change ownership, and mortgages, which secure a loan against a tenement.
- Check whether Ministerial consent is needed. Under section 64 of the Mining Act, an exploration licence cannot be dealt with in the first year of its term without the Minister’s consent, a rule aimed at stopping “real-estating” of exploration ground. A dealing made without that consent does not transfer a legal or equitable interest. Requests can be lodged online through MTO.
- Lodge the transfer. Transfers use the prescribed form (Form 23 in the department’s guidance, read September 2026) and are lodged through MTO or a Mining Registrar’s office, with the $155 registration fee.
- Deal with stamp duty. The department notes that transfers must be assessed for duty by the state’s revenue office. Build this into your costs.
- Clear caveats first. A caveat on the tenement blocks registration until it is withdrawn or removed.
- Take over the conditions. Once registered, you inherit the tenement’s conditions: rent, minimum expenditure, reporting and any environmental obligations.
Comparing several WA listings fairly
Weighing more than one gold lease for sale Western Australia offers? Compare them on the same basis: tenement type, remaining term, area, conditions, encumbrances, access and independent geological evidence. The cheapest listing is not always the cheapest to hold, and a higher price can be justified by a longer term, cleaner title and better evidence. Run each one through the cost-to-hold check above, and screen every boundary with the same method so the comparison stays honest.
“Paddy Hannan’s find on 14 June 1893 set off the rush that became Kalgoorlie-Boulder and its famous Golden Mile.”
Kalgoorlie, Leonora and the Goldfields: judging a gold mine for sale in Western Australia
Much of the demand behind “gold lease for sale Western Australia” searches is anchored in Goldfields history. Arthur Bayley and William Ford reported their rich discovery at Coolgardie on 17 September 1892. On 14 June 1893, Paddy Hannan and his partners found gold near what is now Mount Charlotte, starting the rush that became Kalgoorlie-Boulder. The State Library of Western Australia describes the resulting goldfield as the Golden Mile.
That history is real, and old workings are genuine evidence that gold was once found nearby. But it has limits. Historic miners generally worked the most accessible ore first, and ground near the famous towns has been prospected since the 1890s. A gold mine for sale in WA that leans on the name Kalgoorlie, Leonora or Coolgardie still needs the same checks as anywhere else: the tenement, its conditions and independent evidence from the ground itself.
Leonora is a good example. The department still runs a Regional Mining Registrar office in Leonora (Rochester Street, per DMPE’s office list, read September 2026), alongside offices such as Kalgoorlie and Karratha. So if you are looking at a gold lease for sale near Leonora, WA, the local registrar can take lodgements, and the same MTO and TENGRAPH checks apply as in Perth.
- Old workings on the tenement: useful clues to structure and past grades, but also potential safety and rehabilitation issues.
- Past exploration reports: ask the seller for them, and check the department’s public geoscience records.
- โ Detector patches: a history of nugget finds on the surface does not show what lies below.
Australian gold leases for sale outside WA: Queensland, NSW, Victoria, NT and Tasmania
Each state and territory has its own law, titles and register. The buyer’s questions stay the same everywhere (what exactly is the title, is it in good standing, can it be transferred, what is under it) but the answers come from different offices. That applies whether you are after Australian gold mining leases for sale in the eastern states or a gold mine for sale in Western Australia.
Mining leases for sale in QLD, and the small mining claim
Queensland’s small-scale title is the mining claim. The state says a mining claim allows small-scale mining such as prospecting and hand-mining. A standard claim is 1 hectare, and a prescribed mining claim can be 20 hectares. Claims can run for up to 10 years and are renewable, and a person can hold no more than 2 at a time. They can cover any mineral except coal and uranium, but you cannot use machinery unless the claim has been granted as a prescribed mining claim, which applies to corundum, gemstones and other precious stones.
That is why Rubyvale mining claims for sale attract interest: Rubyvale, Sapphire and Anakie sit in the Central Queensland sapphire gemfields, and prescribed claims there are geared to corundum. For larger gold ground, and for most mining leases for sale in QLD, the titles are an exploration permit for minerals (EPM) (up to 5 years, renewable, and up to 100 sub-blocks) or a mining lease. The state has offered zero rent on EPMs from 1 September 2023 to 31 August 2028, while existing invoices remain payable. A gold mine for sale in QLD should therefore be checked for which of these titles it actually holds. Most gold claims for sale in QLD are the 1-hectare hand-mining kind, so a claim is a prospecting toehold rather than a mine.
A gold mine for sale in QLD: Charters Towers and the northern fields
What sells in the north is history. Queensland Places records that gold was found near Towers Hill in January 1872, that 12 ore-processing mills were working in the district by the end of 1878, and that output reached 217,000 ounces in 1892, double the 1888 figure. The same source notes an exodus to the Palmer River goldfields between Cairns and Cooktown in the 1870s. Gold mines for sale in North Queensland often trade on those names. Treat them as you would Kalgoorlie ground: old shafts and mill sites prove gold was there once, not that it is left, and the title is usually a mining lease or EPM. The checks are the same ones you would run on a gold lease for sale Western Australia sellers advertise.
“Queensland’s standard mining claim is just one hectare, and no machinery is allowed unless it is a prescribed claim.”
New South Wales
Under the Mining Act 1992, NSW titles are the exploration licence, the assessment lease and the mining lease. A mining lease needs development consent under planning legislation and proof of a mineable resource. Titles can be searched on MinView, which replaced Common Ground, and on the Mining Titles Register. Before an exploration licence holder can go onto land, a written land access arrangement with the landholder is required. So a gold lease for sale in NSW, or a gold claim for sale NSW listing, should come with its land access position explained.
Watch the title codes. The NSW title-types page lists a Gold Lease (GL) as a legacy title: GLs are no longer granted, though some remain active. The same list has no prospecting lease. So a gold prospecting lease for sale in NSW, or any prospecting lease for sale in NSW, is either an exploration licence (including the Exploration (Prospecting) Licence code) described loosely, or an old GL. A gold mining lease for sale in NSW today should show as an ML or CML on the Mining Titles Register.
Old gold mines for sale in NSW need one more check. The state’s Legacy Mines Program defines a legacy mine as an abandoned site that once held a mining title, has no party responsible for rehabilitation and carries high environmental or safety risk. If a gold mine for sale in NSW sits on or near such a site, ask the department about its status before you price it.
Victoria
Victoria’s minerals are governed by the Mineral Resources (Sustainable Development) Act 1990, administered by Resources Victoria. Titles include exploration, retention, mining and prospecting licences, and documents are held on the Victorian Mining Register, with summary information available through the GeoVic mapping tool. Victorian gold leases for sale and small gold mines for sale in Victoria should be checked on GeoVic first.
There are no gold claims in Victoria in the Queensland sense. According to Resources Victoria’s prospecting licence guidelines, a prospecting licence covers no more than 5 hectares and runs for a maximum of 7 years, and it cannot be renewed. A miner’s right lets a person prospect on Crown land where access is allowed, or on private land with consent, but it is a personal permit, not a title you can sell. So gold claims for sale in Victoria, Australia are usually prospecting licences, and the remaining years on a non-renewable 7-year term matter a great deal.
Northern Territory and Tasmania
In the Northern Territory, an exploration licence under the Mineral Titles Act gives the exclusive right to explore within the title area, and mineral leases authorise mining. In Tasmania, Mineral Resources Tasmania grants exploration licences for an initial five years, with mining leases for extraction. For gold leases for sale in the Northern Territory or gold mines for sale in Tasmania, check the relevant government title system for holder, status and conditions.
| State / territory | Main titles | Where to check | Buyer watch-point |
|---|---|---|---|
| Western Australia | Prospecting licence, exploration licence, mining lease | MTO, TENGRAPH | First-year consent for exploration licences; duty; caveats; expenditure shortfall |
| Queensland | Mining claim, EPM, mining lease | State tenure systems (MyMinesOnline) | Claim size and machinery limits; 2-claim cap |
| New South Wales | Exploration licence, assessment lease, mining lease | MinView, Mining Titles Register | Land access arrangement; development consent |
| Victoria | Exploration, retention, mining, prospecting licences | Victorian Mining Register, GeoVic | Planning approval needed before mining |
| Northern Territory | Exploration licence, mineral lease | NT mineral titles system | Check conditions and status |
| Tasmania | Exploration licence, mining lease | Mineral Resources Tasmania | Initial 5-year exploration term |
Checklist before you buy a gold mine for sale in Australia
A gold lease for sale Western Australia listing and a small gold claim for sale in Queensland need the same order of work, and it keeps costs down. The early steps are free or cheap and remove most weak listings.
- Get the tenement number and look it up on the state register yourself.
- Confirm holder, status and expiry, and whether the title is granted or still an application.
- Check dealings: mortgages, caveats, pending transfers, and any consent the transfer will need.
- Map the boundary on the state’s spatial system and compare it with the seller’s map.
- Read the conditions: rent, minimum expenditure, reporting and rehabilitation duties you will inherit.
- Check land access: private land, native title processes, reserves and neighbours.
- Screen the geology independently with public geoscience and satellite analysis of the boundary.
- Visit and sample with your own chain of custody and an accredited laboratory.
- Get legal and tax advice on the transfer, duty and structure before you sign.
Treating an abandoned mine for sale in WA or elsewhere in Australia as a bargain because the price is low is a common mistake. Old shafts, waste dumps and tailings can bring safety risks and rehabilitation obligations. Ask what the tenement conditions require, and get advice on liabilities before you buy an old mine site.
WA’s own numbers show the scale. The department’s Abandoned Mines Program says thousands of abandoned mine features (shafts, costeans, pit voids and waste rock landforms) still exist across the state, recorded in its Abandoned Mines Inventory. Before you treat an abandoned mine for sale in Australia as a bargain, look the site up in that inventory in WA or the Legacy Mines Program in NSW, and ask who carries the rehabilitation duty. The same question applies to any gold mining lease for sale in Australia with old workings: a cheap gold lease for sale Western Australia sellers call “abandoned” may just mean the holder stopped spending.
Reading the seller’s geology claims
Geology is the hardest part of a gold lease for sale Western Australia listing to verify from a desk. If a listing quotes tonnes and grades, ask for the report behind them. ASX-listed companies report under the JORC Code, which requires that any Exploration Target be stated as ranges of tonnes and grade with a cautionary statement that it is conceptual and that exploration is insufficient to estimate a Mineral Resource. Private sales rarely come with a JORC report. That is normal, but a single precise tonnage on untested ground should make you ask where it came from.
Where satellite screening fits for Australian tenements
Satellite analysis cannot confirm who holds a tenement, but it gives you an independent read on the ground before you travel or commit. Our satellite-based mineral detection analyses multispectral and hyperspectral imagery of the tenement boundary. Minerals and alteration zones reflect light in their own spectral signatures, and we use them to flag likely mineralised target zones, alteration halos and structures such as faults and fractures. On a gold lease for sale Western Australia buyers are weighing, that shows where on the tenement the evidence is strongest, which matters when you have $40 a hectare to spend every year and want it spent in the right place.
- Input: the tenement boundary as coordinates, KML/KMZ or a polygon, plus the target mineral.
- Turnaround: 5โ20 business days depending on area size and mineral complexity.
- ๐ Deliverables: high-potential zones, prospectivity heatmaps, estimated location and depth ranges, geological interpretation and georeferenced GIS files. Premium+ adds TargetMaxโข drilling intelligence and interactive 3D subsurface models.
- Cost and time: satellite screening can lower early-exploration costs by up to 80โ85% and shorten timelines from months to days compared with starting on the ground.
- โ Limitation: results are exploration targets, not a JORC resource, and they do not replace title checks or sampling.
Satellite screening involves no ground disturbance. On farmland, pastoral leases or culturally significant country, you can learn a lot about a tenement before any vehicle, trench or drill pad goes in, and then focus field work where it matters.
We have scanned 100,000+ hectares for 20+ mineral types across 25+ countries, including Australia. See the satellite-driven 3D mineral prospectivity mapping sample for typical output, and our mining cadastre portal guide by country for licence registers in other countries.
Weighing a gold lease for sale Western Australia? Test the ground first.
Send us the tenement boundary. We’ll return ranked target zones and geological interpretation so you can weigh the asking price against independent evidence.
Frequently asked questions
What does “gold lease for sale Western Australia” usually mean?
It is usually a tenement under the Mining Act 1978: a prospecting licence, an exploration licence or a mining lease. Only a mining lease allows commercial production. Ask for the tenement number and check its type, holder and expiry on Mineral Titles Online.
What does it cost to hold gold leases for sale in Western Australia?
Under the Mining Regulations 1981 as at 1 September 2025, a prospecting licence carries rent of $4.30 per hectare and minimum spending of $40 per hectare ($2,000 minimum) each year. A mining lease carries $29.30 per hectare in rent and $100 per hectare in spending ($10,000 minimum). Check the current version of the regulations before you budget.
Is a gold lease for sale in Western Australia a good investment?
That depends on the tenement’s type, remaining term, conditions and geology, and on your own circumstances. We can’t answer it for you, and this guide is not investment advice. What you can do is check each listing against the official registers and independent evidence before deciding.
Can I transfer a WA exploration licence in its first year?
Only with the Minister’s consent. Section 64 of the Mining Act restricts dealings in an exploration licence during the first year of its term, and a dealing without consent does not pass an interest. Requests can be lodged online through MTO.
How big are gold claims for sale in QLD?
A standard Queensland mining claim is 1 hectare, and a prescribed mining claim can be 20 hectares. A person can hold up to 2 claims at a time, and machinery is only allowed on prescribed claims, which are for corundum, gemstones and other precious stones.
Where can I search a gold lease for sale in NSW or Victoria?
NSW exploration and mining titles are on MinView and the Mining Titles Register. In Victoria, summary information from the Victorian Mining Register is available through GeoVic. Both are free to view.
Does Farmonaut have Australian gold mining leases for sale?
No. We do not list, buy, sell or broker leases, claims or mines, and we don’t offer a gold mine for sale in Australia or anywhere else. We provide satellite-based mineral intelligence on any tenement boundary you send us, so you can evaluate a gold lease for sale anywhere in Australia with independent evidence.
Reviewed September 2026 against the Mining Regulations 1981 (WA) as at 1 September 2025, DMPE’s pages on tenure types, dealings, Mineral Titles Online and TENGRAPH, the EDO’s guide to mining law in WA, the State Library of WA, Queensland’s mining claim and EPM pages, NSW title types, the Victorian Mining Register and Resources Victoria’s prospecting licence guidelines, NSW’s Legacy Mines Program, DMPE’s Abandoned Mines Program and office list, Queensland Places and the JORC Code.
Tenement types, terms, rents and procedures here come from the Western Australian Government and the Department of Mines, Petroleum and Exploration, the WA Mining Regulations, the Environmental Defenders Office’s summary of the WA Mining Act, and the Queensland, New South Wales, Victorian, Northern Territory and Tasmanian governments. Rents and fees are revised by regulation, and department names change, so confirm details with the relevant authority and get legal advice before you buy. Satellite results are exploration targets, not Mineral Resources. This guide is general information, not legal or investment advice.

