Publisher's Synopsis
Excerpt from Practical Mining: A Field Manual for Mining Engineers; With Hints to Investors in Mining Properties
The percentage which is realized from an investment is governed to some extent by the nature of the security. If it is such as is not liable to much ?uctuation, it is sought for permanent investment, even at a low rate of interest. Generally we may say: The profit to be expected from any investment should be commensurate with the risk taken. People who are glad to realize 5 per cent on real estate will expect to realize 25 to 30 per cent, and often more than this amount, on a mining venture, as it is called; and it must be admitted that it is not too much for a purchaser of min ing-stock to expect under existing condi tions: but the intelligent operator, not in mining stock but in mines, will be satisfied with less. Naturally, a mining investment should be expected to pay a much higher rate of interest than real estate or railway securities, because it is less permanent.
The chief cause of the uncertainty in min ing ventures, however, is the fact that the most of those offered to the public are not expected to be productive for any length of time, if at all. To get an accu rate idea of the mining industry would require severe study and time, so that the majority of operators prefer to pay for obtaining the necessary knowledge, and success or failure is chie?y due to the value of this purchase. The following pages are written at the request of friends, with the purpose of pointing out as brie?y as possible the nature of the knowledge to be sought, and by exposing some of the sources, to limit the frequency of error.
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