Pitfalls of Mining Finance; Investigate Before You Invest

Pitfalls of Mining Finance; Investigate Before You Invest : How Shall I Investigate?

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...more damaging to a mining enterprise, than in other forms of industry. The dividend policy of a company, owning a heavy producing mine, is one of much consequence to the welfare of the enterprise. Many a good proposition has been wrecked by the too lavish, ' and untimely distribution of dividcnds. Experience has shown, that the best policy to be followed in the payment of dividends, is to keep reserves, both of cash and ore, well. ahead. The best handled mines, are those in which development, is kept well ahead of production. The development comprises the opening, and blocking out of ore reserves. Oftentimes several years reserves are opened in this manner. The virtue and advisability of such a system is evident, when it is pointed out that it is not unusual, in big mines, having strong veins, to encounter "faults" or even "barren zones.." The "faulting" of the ore, not infrequently, requires weeks of hard and faithful search to find where it has "jumped." The "barren zone" may require several hundred feet of sinking, before the "pay zone" is again encountered. Then again, there is the possibility of encountering in the vein, what is known as a "horse"--an intrusion of barren rock in the pay mineral. The encountering of heavy flows of water, is another possible contingency, and there are others which might be cited. The management which has reserves blocked out ahead, finds that production need not be suspended. On the contrary, it proceeds, furnishing if necessary, the wherewithal to overcome the encountered obstacle. Dead work to pass the "horse," or find the "faulted" vein, or the installation of pumping machinery, to cope...show more

Product details

  • Paperback | 58 pages
  • 189 x 246 x 3mm | 122g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236982096
  • 9781236982094