| Show THE profitable SIDE OF MINING like all other occupations and pursuits mining has two sides in the ledger account two sets of figures are kept one of which shows profits and the other losses in many instances the loss account is by far the largest lar gestand and for the reason that the management of mining enterprises seem to overlook the real object of the work he has in hand the real object of course is to make profits for the owner and stockholders and yet some managers seem to labor under the impression that the companies they are work ng for were organized solely for the purpose of giving them positions and to provide means for the employment of an army of men for the installation of extensive equipment eq ua ament no matter whether applicable or not to existing conditions it is not good and profitable mining to uncover a body of payable ore and then to leave it untouched for a number of years it is not good mining economy to work at one point for a period and then to switch to some other locality before the first work has been pushed to a satisfactory conclusion and expected conditions demonstrated or proved to be without foundation it is not good mining to begin mill equipment before ore has been demonstrated in sufficient quantity ty to guarantee mill operations for one or two years at least and it is poor mining to put in charge of development men who are in no wise qualified for the position and above all it is not good mining to begin mine development before a well formulated plan has been adopted for mining in all of its different phases the profitable side of mining has its inception in the board of directors if this lacks in mining experience in an actual knowledge of mining affairs the future of the enterprise can be safely predicted for it is likely to prove a failure even if ample capital is at hand for carrying on of mining operations if however the company is possessed of a property of real intrinsic value if the president and directors have had mining experience and the management is honest and of good ability the chances are that the company will begin the payment of divi bends within a reasonable period say within five or six years with these requisites to start with and if a well conceived and intelligent plan of operation is faithfully carried out there is every reason to believe that within due time the company will wil I 1 stand high in in mining circles and that investors will have full confidence in the ultimate outcome of the enterprise the profitable side of mining is in a class by itself it can never be established by slipshod slip shod methods by haphazard work or by the infusion of hot air or gold brick methods into company operations |
