'
'The price they ask for it has really nothing at all to do with the value
of the mine. They do not know the value of it. They are not working it,
even now, so as to bring out all there is in it. They are mining for
mica, and, as I told you, the mineral which they are throwing away is
very much more valuable than all the mica they can get out of the mine.
If it were worked rightly, the mica would pay all expenses, as well as a
good dividend on fifty thousand pounds, while the other mineral would pay
a large dividend on one hundred and fifty thousand pounds, or even two
hundred thousand pounds.'
'I see. And you feel positive that there is enough of this mineral to
hold out for some time?'
'Oh, I am positive of that. There is a whole mountain of it.'
'And do you get the mountain as well as the mine?'
'We get three hundred acres of it, and I think there would be no
difficulty in buying the rest.'
'Well, that would seem to be a good speculation, and I am sure I hope you
will succeed in forming your company. How much money are you prepared to
spend in floating the mine?'
'I have practically nothing at all. My asset, as it were, is the option I
have on the mine.'
'Then, how are you going to pay the preliminary fees, the advertising in
the newspapers, the cost of counsel, and all that? These expenses will
amount to something very heavy in the formation of a company. Of course
you know that.'
'Well, you see, I think that perhaps we can get two or three men to go
into this and form our company quietly, without having any of those heavy
expenses which are necessary in the forming of some companies.
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