McKibben v. Mohawk Oil Co., Ltd.

OPINION

BURKE, Chief Justice.

Plaintiffs Harley McKibben, Adolph Vet-ter, and Roudolph Vetter are the owners of the Christina mining claim located near Fairbanks. On December 2,1977, plaintiffs entered into a mining lease agreement with Joseph Taylor and Paul Rice, giving Taylor and Rice the right to mine the land in a workmanlike manner until March 15, 1978. The lease also provided that the plaintiffs would receive forty-five percent of the value of all ores and minerals mined and extracted from the claims after deducting smelting and refining costs. Taylor and Rice would bear the entire costs…