159 episodes. Do you have any pointed numbers?
Jonathan asked with a puzzled face.
“Are we going to go bankrupt on purpose?”
“You said before, that if you go bankrupt, you’ll be contacted by Rao Tinto.”
“No, what are you going to do with Lao Tinto?
“We need to check. Whether that’s their intention or not.”
It’s still just a heart attack.
You need to make sure you do that first before you can move on to the next level.
“Okay. The bill is due in a week, so let’s try to reject it once.”
“But there is a mining development site in Ilka, right?”
“yes.”
“How many reserves are there?”
Even if profitability is low right now, technology is bound to advance.
If the reserves are large, they have future value.
“As a result of the investigation, it was reported that about 250,000 ounces and 500,000 ounces during the drilling process were reported.”
250,000 ounces is about 7 tons, or about 400 billion won.
If half a million ounces of fried pops are true, they are worth roughly 800 billion won.
“How many mines?”
“It is a single mine. There is a place called Gruyer in Ilka, and it is the result of investigating there.”
“Around Gruyer?”
“I heard that the project was going to be explored, but since the project has collapsed, I’m probably going to close it all here.”
“If I overturned the project in Lao Tinto, did I give up my mine development rights?”
“I heard that it hasn’t been decided yet.”
Well, I just stopped the project, so I probably didn’t make a decision until then.
“Can I visit once?”
“Where? Maybe a mine?”
So where are you?
***
Jonathan immediately started the field office.
There’s no need to drag this huge motorhome, it’s just the Jeep we’ve been riding in, but it’s not polite to your partner or anything.
“This is the Gruyer mine.”
Jonathan showed me every nook and cranny of the mine.
And I conducted a due diligence by comparing the field and exploration data.
“Is the first drilling depth 300 meters?”
“you’re right.”
“In the data, it appears as a hydrothermal deposit, so why did you drill up to 300 meters?”
A tidal water deposit is a mine formed at low temperature and low pressure.
Therefore, the depth of the mine is also low.
“Since it’s a mineral deposit, it’s only sold for 300 meters.”
“The first car only saw elegance?”
“Yeah, the products of the hydrothermal deposits are generally of low quality, so we checked that first.”
Since the deposit is low-temperature and low-pressure, it is bound to contain a lot of impurities.
It is no wonder that dignity is an important factor in determining economic feasibility.
“The 2nd and 3rd rounds don’t seem to exceed 400 meters, but you didn’t even sample what’s underneath?”
“The geological investigation team said that the depth of the deposit would not be deeper because sand and mud were mixed from the inside of 100 meters. On the other hand, the width of the ore vein was wider than that of ordinary hydrothermal deposits, so we conducted the investigation in the direction of expanding the scope of drilling.”
“The geological condition is not typical.”
“So I heard that the exploration took a long time.”
For such a thing, the project halt is too fast.
This is definitely weird.
“I want to see some other places besides Gruyer.”
Jonathan took me and Jackie and showed them to Rao Tinto’s planned expedition site.
I thought it would be spread all over Ilka, but it was concentrated in a place relatively close to Gruyer.
like a crowd.
‘Isn’t this only about 250,000 or 500,000 ounces?’
Rao Tinto only saw the tip of the iceberg.
600 meters below.
The size of the veins I saw, including Gruyere alone, was ten times the size of 500,000 ounces.
‘This is not as good as Kalgoorlie, Australia’s largest gold burial site.’
Jackie told me that the Kalgoorlie mine was about 5.6 million ounces.
There may be more gold veins that have not yet been discovered, but that’s about the extent of the revealed scale.
The gold veins here are also planned to be explored with Gruyer, but as I looked around, I couldn’t tell how much more gold was hidden.
The prediction of geologists that there would be many natural resources buried was correct.
‘I wish I had given up the right to develop along with the suspension of the project…’
To what extent do they know the value of this place?
***
“Is there something?”
As soon as I entered the temporary dormitory provided by Denver, Jackie asked.
“What?”
“You have the same expression as when you discovered the open-pit mine at Louis Hill.”
“Haha, is that so?”
You can’t hide it, you can’t hide it
I saw that great gold with my own two eyes, and my heart couldn’t stop beating.
“So what do you think?”
“Existing exploration data did not recognize the true nature of this land. 600 meters below it, there is a rock layer, not sand, and there seems to be an enormous amount of gold veins.”
“Is the sand hiding the gold?”
“Yeah, Rao Tinto saw only a single gold coin that fell to the floor with the treasure trove right in front of him.”
Jackie pursed her lips as she organized her thoughts.
“What do you think?”
“I’m thinking about how to get development rights from Rao Tinto.”
“Hahaha, it’s reassuring. Jackie worries about that too.”
“Someone spent $100 million to make Denver the second-largest shareholder. Ho-ho.”
I laughed out loud at her kindness.
If it was someone else, it would have made me tired, like it would be burdensome or if it’s okay if I’m not an official employee of All Mining.
Maybe it’s because I know my intentions, but I can’t be that comfortable.
I narrowed my brow and asked playfully at her, who was worried.
“As the second largest shareholder of Denver, how about all-mining, as a business partner?”
“It’s a global mining company of the future. It’s the best partner from the point of view of a partner. But you know it’s still not enough to deal with Lao Tinto, right?”
“sure.”
Lao Tinto, a giant company with a market cap approaching 100 trillion won.
There are countless mines all over the world, and there are no untreated minerals.
Their know-how and technology are at a level that cannot be measured as much as their size, and above all, their personal connections and networks were spread all over the world and the business world.
“As soon as Edward makes contact, the Rao Tinto reps will find out about All Mining. And they’ll find out about Louis Hill.”
“I would.”
“From their point of view, there is a high probability of rejecting an offer to take over the mine.”
“What if I make an offer more than what I can get from the gold mine?”
According to the economic report alone, the present value of the mine is 800 billion won.
Even if the future value is roughly 1 trillion won, it doesn’t matter.
The true store value is overflowing even if you pay all the money.
“More than a profit? How far are you going to make an offer? You don’t intend to use the reserves as a basis, are you?”
Did it come in and out of me?
“Hmm, well, it’s worth it anyway…”
“No!”
“……”
“What do you do with a pearl necklace around the neck of a blind pig? A gold mine isn’t worth 10 billion dollars, it’s not even 100 billion dollars.”
So how do you take over the mine development rights for less money?
Is there any other way other than money?
“Are there any sharp numbers?”
“I’ll go and meet you for a while.”
“What are you going to do?”
“You have to convince you to deceive Lao Tinto.”
What are you talking about?
***
Denver’s first bankruptcy.
It went bankrupt because it failed to block $30 million of the $50 million bill that was urgently needed.
And as if waiting, I had a meeting with Jonathan Denver at Lao Tinto.
Again, their goal is to acquire Denver.
Jonathan’s offer was a whopping $500 million, nearly twice the value of Denver’s assets.
“Aren’t you sick?”
At Jackie’s words, Jonathan snorted.
“What’s the big deal with that 500 million dollars. How did this man grow up, do you think he’ll pass it on to the money?”
“Won’t you raise the acquisition amount from there?”
“The first offer was $400 million, and the offer was $500 million because it was the Maginot Line, so I probably won’t raise it any more.”
“In the first bankruptcy, stop all assets such as real estate, equipment, and inventory owned by Denver by mortgage.”
“Don’t do that.”
“The second bankruptcy is in two weeks. That’s not only for Denver, but for your personal assets as well, so Lao Tinto will contact you again.”
“You’re probably thinking about drowning.”
Jonathan leaned back on the sofa and let out a long sigh.
“It’s just passing the shell, but it’s a pity.
At that, Jackie smiled faintly.
“Your name will be well worth it.”
“No matter how much I get, my heart can’t be satisfied. You know I was persuaded by your words that I could give them a shot, right?”
“Okay. Just trust me and Edward.”
***
Denver’s second bankruptcy.
With the $100 million bill due, Jonathan could not do anything about it.
Two days after knowing that, Rao Tinto visited the field office again.
“Mr. Denver, why don’t you just hand over your stake without being stubborn?”
Daniel, the head of Lao Tinto’s western branch, held out the contract and asked the doctor.
“Who caused this to happen? You don’t even know that it’s all your masterpieces?”
“It’s a masterpiece? What kind of disgrace? We gave your company a response to the increased production of the Gruyere project, and Mr. Denver didn’t review and make a decision himself? I don’t understand how that works.”
“Then is it normal to stop mining development so suddenly?”
“As I said, the geological condition of Gruyere was worse than expected, and because of that, the profitability was lowered. Your company also informed us that the cost would increase to meet the conditions. Where would you like to do something like that?”
Daniel pulled out an initial contract between Rao Tinto and Denver, and pointed out one part.
“Do you see? Project suspension varies depending on internal and external environments, and the decision is made based on economic feasibility, work safety, and sustainability, which A and B mutually agreed upon.”
“You know! I’m the one who took the stamp, so you don’t know?”
“Then you can’t deny that the Gruyere mine is not economical, has a high risk of collapsing due to its geological characteristics, and its sustainability is low because there are no additional deposits found besides Gruyere?”
“Wait, even with the first two, there won’t be more deposits without further exploration? Are you talking about that?”
“I explored Denver while I was away here. The result is just what it says.”
“I haven’t been to Kalgoorlie in less than a month!”
Jonathan banged on the table indignantly.
But Daniel raised the corners of his mouth and continued.
“Whether it’s a month or a day, we’ve explored and we’ve done our duty, while Denver is picking up pockets from Kalgoorlie.”
Jonathan trembled as he hit the table.
“So we’re going to stop the project and take care of our debt?”
“We’re just doing what the contract says, we’re just making an offer to take over because the boss seems to be in a pitiful situation.”
“I said before that the takeover is impossible. Let’s make one thing clear. Are you really stopping the project? Is the decision not going to be overturned?”
“I thought you would say that, so I brought it here as an official document.”
One official document and a large corporate seal.
Jonathan accepted it and called somewhere.
“Oh, sir. The project has been completely suspended. Yes, yes. There will be no overturns. Yes, it is. I’m sorry, but what can I do? Yes. Yes. Huh… Prepare for blasting.”
Daniel’s eyes widened at the word balpa.
“Balpara… Are you going to destroy the tunnel now?”
“Look at this handsome contract here. It states that Denver has all the rights to design, manufacture, and manage the tunnel.”
“No, why do you break down what you made difficult?”
“The project is over, so what are you going to do with it? You just bury it.”
Jonathan continued speaking in despair.
“I’m going to bury my life with Denver, too, so you, head of the branch, stop talking bullshit and go home.”
“Are you asking? What does that mean?”
At Daniel’s question, Jonathan exclaimed in an annoyed tone.
“Oh, I’m going to beat them all! I’m going to file for bankruptcy, so I know!”