158 episodes. The first bankruptcy is to be paid.
The Denver field office looked like a campervan.
No, it was a motor home.
Residential sized camping trailer.
Once upon a time on TV, I saw Hollywood actor Will Smith’s campervan and it was similar.
The difference is that it is an office, not a private residence.
Inside the trailer, ten employees were working in their respective positions.
“Sir, I’m here with you.”
Jennifer led me and Jackie to Jonathan and brought coffee.
“Jackie, how much is this?”
“How you doing?”
“Even an empty horse doesn’t say you’re doing well. Didn’t Professor Coober come here?”
“I told you that you were here, but I didn’t come here under any specific instructions.”
“That’s right. But is this friend your boyfriend?”
Why don’t everyone who sees ask if they’re lovers?
“My name is Edward Jean. This is how I came to meet you through the introduction of Professor Coober.”
“Introduction? I’m sorry for this, but our company is not in a position to hire right now.”
It seems to have been thought of as job hunting.
Uh huh, if you’re going to introduce yourself, I’ll give you a hint in advance.
“You seem to have misunderstood, but I didn’t come here because of my job search.”
I handed him my business card.
“CEO of All Mining? Whoops, this is a big disrespect.”
“it’s okay.”
“Professor, do you have any gold mines?”
“no.”
Jonathan’s expression quickly turned pale at my answer.
“Then why did you come to see me?”
“I’ve heard from Professor Coober. There’s a lot of financial pressure right now.”
“Yeah, but it is.”
“Are you thinking of selling the company?”
He changed his gloomy expression to an unpleasant one and looked at Jackie.
“Jackie, what were you thinking when you came here with this person? A sale?”
“Mister, talk to Edward a little more. There’s no way I didn’t tell you about you beforehand.”
At Jackie’s words, Jonathan looked straight at me and refused.
“I have no intention of selling it.”
“As Jackie said. So, is there any way to overcome this crisis?”
“I don’t know why I should tell him that.”
“Don’t get me wrong, I’m not trying to get you to sell. I’m not going to buy Denver if you change your mind later, as long as you’ve already declined.”
“Then why are you asking?”
“Because we are in a similar situation.”
“What do you mean?”
“Have you not heard of all-mining?”
“I don’t know. I’ve only been in the field for over half a year, so it’s dark in industry information.”
You’ve been in the backcountry since before you founded All Mining.
“Do you know about Jencock Brostacking?”
“I don’t think there’s anyone in Australia who doesn’t know Jencock.”
“We’re developing an iron ore mine in Pilbara with that Jencock, Louis Hill.”
“Oh, I’ve heard of Louis Hill. Rumors circulated that it was the world’s largest iron ore deposit, but your company was developing it.”
“Have you heard any other rumors regarding that development?”
“Well, I’ve heard that Forescue Metal complained. I think they said they touched their rice bowls.”
“That’s right. And they’re doing all kinds of work behind the scenes without being dissatisfied. But then I found out that Forrescue Metal came out like that because Rao Tinto encouraged it.”
“……!”
“Do you understand what I mean by a similar situation now?”
“Is Rao Tinto really behind the scenes?”
“I know it’s not just Lao Tinto, but Barre and DHP Billion as well, but only Lao Tinto has been confirmed. Professor Coober said that it is highly likely that the Duke of Lao Tinto is also in your company’s difficult situation. How about it?”
Perhaps because he felt a sense of unity, Jonathan’s expression was very relaxed.
“Their dukes are certain.”
“Then can we hear the specific situation and the boss’s countermeasures? Wouldn’t it be nice if we could help each other?”
“Yes, it was two years ago when we signed our first contract with Rao Tinto.”
Global mining company Rao Tinto’s gold mine development contract.
It was an order for the overall setting of the site, from basic mining and transport equipment to the design of the tunnel.
However, as the development progressed, a survey result came out that the reserves were much larger than the exploration report, and Lao Tinto added a special contract to the contract on condition of 5% of mining revenue, and Jonathan prepared the corresponding equipment order and supplies, but suddenly Lao Tinto The problem was that the side withdrew the development plan.
The reason was that the profitability of gold was low in a situation where the price of gold might turn downward at any time.
“Didn’t you do an economic review?”
“Of course I did, because I checked the report and consulted Professor Coober.”
Jackie clapped his palms in response to his words.
“Uncle, isn’t it Ilka?”
“Yeah, did you see that too?”
“Yes, because the professor showed me. The area has been a place of interest among geologists since ancient times.”
“Jackie, do you think this place is famous?”
Jackie nodded at my question.
“From here, about 600 km northeast of Kalgoorli, you will find a desert. Although Kalgoorli is barren, it is called a desert because it is a barren wasteland that is not enough to say that it is barren.
“I’ve been thinking like that for a long time, but why did I only review the development now?”
“Because the geological structure is a sandy area, it is difficult to explore, and I thought it was difficult to mine with the technology at the time.”
“Is it possible now?”
Jonathan said that it is possible with their own technology, but after testing it, the cost increased due to the harsher environment than expected.
It is also reflected in the review of profitability, and it is said that he contributed to the collapse of the project.
“I think it’s true that various conditions are bad, but how are you sure that Rao Tinto did the duke?”
“For now, I can’t believe that the reserves are higher than initially expected.”
“If you extract data during the drilling process, it may increase.”
“I made the data without drilling ten times. If the field miners had accidentally overheard the word of the expedition team and didn’t inform them, they would have almost never realized that the data was a rip off.”
“The field miner is from Denver, so it would be difficult to present as a witness. Is there anything else?”
“The timing is also questionable. We overturned the project after receiving the equipment we ordered, customizing it, designing and securing related materials. It is very rare for a plan to be canceled before the second test phase.”
What is rare is that there are.
Moreover, doubting the timing may be a heart attack, but it cannot be used as a physical evidence.
“It’s ambiguous.”
“There is one more thing.”
“What?”
“I thought it would be difficult to reverse Rao Tinto’s decision, so we moved the field office from Ilka to Kalgoorli. There are many gold mining companies in Kalgoorli. .”
“Is it because of Lao Tinto?”
“Otherwise, there would be no contact. We looked at the site, and everyone was so busy that they couldn’t produce any more. At the very least, we’d need a transport vehicle such as an ultra truck, so the lack of contact doesn’t explain anything else.”
Hearing Jonathan’s explanation, it seemed so.
The price of gold is skyrocketing enough to make money by moving even one more gold ore to the smelter, but even if there is an empty truck in front of you, you don’t use it?
This wasn’t Rao Tinto’s eyes, but he could guess that there was some pressure.
“But why is Lao Tinto doing this?”
Jonathan let out a long sigh at the poignant question.
“It looks like they’re targeting our company.”
“……?”
“There was once an offer about five years ago. When I asked if I would like to sell it, I rejected it with a single blow, but it is clear that I have not given up yet.”
“You’re going to come back and try it again? Even using a dirty method?”
“Rao Tinto is a company that has grown in size through mergers and acquisitions and has been filled with technology and manpower in that way. And as the CEO knows, the mining industry is a short period of time if ten years is short, so there is nothing strange.”
Still, I feel stubborn.
It may be proof that Denver’s technological prowess is that great, or it may show Rao Tinto’s narrowness of not forgetting even the slightest resentment.
“Now? Wasn’t there a takeover offer from Lao Tinto?”
“Not at all. I think it’s probably only me at the first bankruptcy level before I can contact you.”
“Then the only solution is to find another customer?”
“Other than that, there is no other sharp way. We have to turn the equipment we have prepared.”
“It is said that it is an exclusive equipment other than transport equipment. It costs money to remodel it for general purpose again.”
“…Whew.”
Did you hit the bone too much?
Jonathan’s face turned earthy.
“We’ll support you.”
“Mr. Jean, thank you for your words, but as I said before, Denver is not for sale.”
“I’m not asking you to sell.”
“I will also refrain from investing in equity. I have seen many companies that have taken away their management rights in this way.”
Isn’t this a full wall window?
“If you wish, why not include a clause stating that you will not be involved in management?”
“I’m sorry. I do not want you to comment further, as I have a firm commitment to the stake.”
oh, it’s boring
What good is it if the company goes bankrupt and your stake becomes scraps of tissue paper?
“Edward, your family was ruined because of it when you were young. So please understand.”
Jackie told me that Jonathan’s father had been in business and took the company entirely in a hostile M&A.
Because of that, the whole family sat down on the street and he went through all sorts of hardships until he became self-made, so he said he would never sell his stake.
“Then how did you and Jackie’s father do business?”
Jonathan opened his mouth with difficulty.
“Charlie was the one I followed for years to sign myself. He was worth it and he only joined me after giving him a stake.”
If you like it, you can give it a share.
What’s so emotional?
“That share is the share that Jackie inherited. So, is the boss saying that he will not be involved in management again?”
“That’s right.”
Even if you give, you just don’t give.
I’m stubborn
“Then what about this? Instead of investing in All Mining, please increase Jackie’s stake.”
“Are you two lovers?”
“It’s not like that, Jackie is like a family when it comes to all-mining, so if her stake is high, we can trust you and work with you.”
“Are you together?”
“Lao Tinto, even if you step down this time, you don’t know when you’ll show your teeth again. Think carefully, we have Jencock together and we also have a P&B group.”
“How much do you want to increase your stake?”
“How much was all the debt before that?”
The owner of the stake is Jackie, who is no different than his nephew.
And the background that there are two giant companies behind All Mining.
For Jonathan, it must be an offer that is difficult to refuse.
“It’s about $150 million. Of that, an urgent bill is roughly $50 million.”
“Then I’ll give you 100 million dollars, so please raise Jackie’s stake to 49%.”
“What about the management provisions?”
“If you get rid of it, we’ll help you with the remaining $50 million.”
“Then I’ll put out the urgent complaints first. Once I understand your company to some extent, I’ll make a decision on the rest of the proposal.”
“You do that. But…”
I smiled and continued.
“The first bankruptcy is to be paid.”