Chapter 136: A Heart Attack? (Please Subscribe)
"We spent over 100 million to acquire it."
When Chen Jinhe spoke about this, he couldn't hide his pride. "Being able to secure the Jinyindong Gold Mine will massively boost Zise Mining's gold reserves."
"That's a gold deposit with extremely high mining value," Li Tang sincerely admired Chen Jinhe's boldness and swift, decisive action.
When he strikes, he doesn't miss—and he makes it count.
Given the current state of the domestic mining industry, to pull out over 100 million yuan in cash for a gold mine acquisition is nothing short of courageous.
"We're confident that with our gold mining expertise and management, we can turn Jinyindong into a money-printing machine!"
Chen Jinhe laughed like a happy old farmer gazing at a golden rice field. His eyes sparkled with confidence. "The bank provided most of it in the form of low-interest loans. Huge thanks to the support from above!"
"Chairman Chen, that's impressive. Truly admirable."
Li Tang couldn't help but raise his thumb in praise.
"If you have time, come to the Jinyindong Gold Mine and help us out. Give the team some technical guidance on mining and refining."
"Jinyindong doesn't need my help. That place really is a mountain of gold and silver!"
"Well, I'll take that as a blessing," Chen Jinhe chuckled, but didn't push the issue. He shifted the conversation: "Of course, the biggest achievement for us this year has to be the Qinglong Copper Mine project!"
Li Tang grinned.
"The Qinglong Copper Mine is without a doubt the greatest mineral discovery in the history of China's non-ferrous metals industry!"
Chen didn't feel he was exaggerating. "This mine will revolutionize our entire sector! It's China's first super copper deposit. Once it enters production, it could completely break our reliance on foreign copper producers. This mine isn't just about business—it's of national importance!"
"Judging by what we've found so far, it's indeed extraordinary," Li Tang nodded in agreement about its economic and strategic value.
However, he wasn't entirely on board with the notion that Qinglong could eliminate China's dependence on foreign copper.
With China's rapid economic growth, its copper demand was skyrocketing. The current reliance on foreign imports, already at 50%, was projected to rise to 80% in the coming years.
Qinglong Copper Mine alone wouldn't be enough to fill that void.
"Li Tang, without your proposal and feasibility study, there would be no Qinglong Copper Mine.
No one—not any company or team—would have invested in such a remote, icy, 5,000-meter-high plateau."
Chen was clearly emotional. He poured Li Tang another cup of tea. "You are a remarkable person!"
"Please, I'm not worthy of such praise." Li Tang waved his hand modestly.
"Every technician from Team 101 deserves to be remembered in mining history."
"Chairman Chen… is there something you'd like to ask of me?"
Li Tang listened carefully as Chen kept heaping praise on him. Rather than feeling flattered, he became a little suspicious.
"Uh…" Chen was momentarily caught off guard, then smiled. "Our company is planning to go public on the Hong Kong Main Board in the next few years. Yesterday, I spoke with Li Feiqun, Director of Investment Banking at Jiangda Securities.
I mentioned Jinyindong and Qinglong to her. She suggested we contact the media and publicly announce these discoveries."
"Publicizing exploration results—how does that help with going public?"
Li Tang was unfamiliar with the world of capital markets.
"Our IPO application will likely pass once we make some improvements.
But how much money we can raise depends on how much confidence the stock market has in us," Chen explained.
"Publishing exploration results boosts investor confidence?"
"Capital markets need a compelling story."
Chen's words carried a subtle meaning.
"A good story?"
Li Tang had read similar theories online before. People sometimes referred to it as having a beautiful PowerPoint.
Still, being directly involved in such tactics felt a bit foreign to him.
"Think about it. Foreign exploration companies often publish drill results right after hitting ore. Their stock price immediately jumps.
They then use that momentum to raise more exploration funds."
Chen described his plan with ease. "By announcing our discoveries, we can energize the market and project strength to shareholders and institutions."
"Ah, I see," Li Tang said, only half-understanding.
"These ideas all came from Director Li Feiqun."
"So... what does this have to do with me?" Li Tang asked, puzzled.
"I want you to be the one to announce the discovery of Qinglong Copper Mine to the media.
You already have a stellar reputation from Qulong. This announcement would definitely draw nationwide attention—and possibly shake the global copper market!"
Chen had full confidence in the market impact of Qinglong's results. "If we want Zise to grow globally, we need to start building our public image."
"I don't want to be in the spotlight."
Li Tang declined firmly. "No offense, Chairman Chen, but when I see a camera, my first instinct is to hide. I'm a technical guy. I'm not good at speaking, and definitely not good at dealing with reporters' tricky questions."
"You're highly respected in China's mining industry," Chen said with a tinge of disappointment.
"If you were the one to announce Qinglong's results, the effect would be much greater."
"The results speak for themselves. Like you said, Qinglong is a historic discovery.
It doesn't matter who announces it—it will make waves either way."
"You're right about that," Chen admitted.
He thought about it and decided not to force the issue. "Forget it. I assumed, since you're young, you'd enjoy the spotlight.
But if you won't speak, at least come to the press conference tomorrow."
"Sure," Li Tang nodded. He had no problem being in the audience.
"By the way, you called me earlier. Was there something you wanted to discuss?"
They had gotten so caught up in conversation that Chen had nearly forgotten.
Li Tang pulled a folder from his backpack and handed it over. "According to our agreement, every time a milestone is achieved at Qinglong, rewards are to be settled based on updated reserve figures."
Chen slapped his thigh. "If you hadn't reminded me, I'd have thought you were one of our own people by now!"
He grabbed the document and started flipping through it.
Back when they signed the deal, Li Tang had created Zhenguan Exploration Tech Co., allowing them to work together company-to-company.
A few days ago, while Team 101 was still compiling data, Li Tang had gotten the reserve numbers from his father and prepared all the required paperwork.
"You prepared this yourself?" Chen glanced through it and found the materials quite thorough.
"Yes, I made it myself. I'm still learning. If there's anything missing, please point it out."
"Looks good."
Chen focused on the data summary. He muttered, "With 14 million tons of reserves, per our agreement, anything over five million is rewarded at 2 yuan per ton.
That comes out to... 18 million yuan…"
As he read the final figure, his jaw dropped slightly. He couldn't speak.
That much?
He looked at Li Tang, then back at the report.
It wasn't rocket science. A quick calculation: 14 million minus 5 million is 9 million. Multiply that by 2 yuan per ton, and you get 18 million yuan.
He sat there in stunned silence, mentally kicking himself.
Back when they negotiated the agreement, Li Tang had first proposed 1 yuan per ton from the first ton.
Chen countered: he'd only pay 2 yuan per ton after passing 5 million tons.
Looking at it now, if he had just accepted Li Tang's original offer, he'd only be paying 14 million instead of 18.
Still a huge amount, but less painful.
And the reserves were still growing. The larger the number, the more they'd owe in bonuses.
No matter how you looked at it, Zise Mining had gotten the worse end of the deal.
Damn!
Why had he been so clever for his own good?
He had thought he'd found a brilliant way to save money.
But now it was clear—he'd outsmarted himself.
He'd just dug a hole and shoved Zise Mining right into it.
Chen Jinhe was overcome with regret and heartbreak. He clenched his fists, resisting the urge to slap his own thigh.
Still, he managed to keep a straight face and not let his emotions show too obviously.
But Li Tang noticed the purplish hue creeping across his face and asked with concern,
"Chairman Chen, are you having a heart attack?"
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