The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1913-08-23
Little Money For Buying Prospects

Any amount of money is in bank in various commercial CEN
tes awaiting investment in mining enterprises This might be
cheerful news but for the fact that this coin of the realm is likely to
stay under lock and key for a long time to come; or most Of it, and
for the reason that the owners of this wealth want to let 1T out OF
hook under one condition only, and this is for the purchase of big
and promising mines. In order to expedite this investment the
capitalisic holders of the money in question have had many ex-
perts out in the hills examining mining properties which have been
placed upon the bargin counter. Thousands upon thousands have
been expended in examining properties claimed to be just what the
investor wanted, and hundreds upon hundreds of mines have been
visited and inspected; and all to no purpose for, as a general rule,
a big and producing mine, if at all attractive, is not for sale, unless
at a fabulous price; and, if offered at a figure supposed to be reason
able, it is found to be worth much less than represented. And so
the months and years roll by, and it is only at rare intervals that
the sale of a really big and producing mine is recorded. And the
money stays in the vaults, and is likely to remain there until the
really big and productive mines n exhausted Then, and possibly
not until then, the thousands of promising aud meritorious prospects
will receive the recognition they deserve.
1t used to be that good prospects were in active demand. Such
is not the case now, however, and it must be a rare and rich find
that will be able to cause any excitement in mining circles at the
present time. And yet tt to the prospects of to-day that we must
look for the big and producing mines of tomorrow. The good
prospect, as a matter of fact, should be more attractive than an old
producer, and for the reason that its assets are intact and have not
been dissipated by production If it has a million or more in ore
within its environments, practically untouched OF undiminished, 1t
certainly is worth more than a proposition that was once in posses
sion of a million or more, but from whose resources possibly half a
million has been taken during the process of mine development and
operation. And yet the tendency of the times is to buy developed
mines and ignore the prospects; a peculiar phase OF this condition
being t0at. IN MAKING AnauStlF Admlndtl VI mlhos dhcduy TO-
veloped, the expense incurred would, in many instances, develop a.
prospect, which could be bought at a nominal figure, into a pro-
Queer fully as valuable as the one under inspection, and which is
held at a figure a thousand times greater than that at which the
prospect could be purchased.
1t is a pity that investing capital is not paying more attention
to valuable and meritorious prospects, prospects which are gener
ally held by needy claim-holders who can develop them only in a
~spasmodic manner, and who may hold them for many years before
they can be listed as even occasional producers. The hills are full
of propositions of this kind which need only a small amount of
money. comparatively, and a few hundred feet of intelligent and
systematic development, in order that they may take rank as regular
producers and regular dividend-payers The claim owner, after
years of toll and hardships, may eventually develop his prospects
into a bonanza mine. Why should he sell it then? He is on easy
street and al take out his velvet" as well as could the capitalist
who is ont after just such propositions but who is not willing to pay
the price.
1t is the development of the prospect, and not the sale of pro-
ducing mines, that means prosperity to this western country, and
we may look for more activity in mining when capital realizes the
fact that, after all, more money can be made in the acquisition and
development of the prospect than in the purchase and operation of
a big and producing mine-Salt Lake Mining Review.