Chapter 224: Backing Out at the Last Minute, Refusing to Invest in Failure
"What do you mean?" Li Tang thought he had misheard.
Everything had been negotiated clearly. They had already signed a letter of intent outlining the investment amounts and cooperation model. From the way Liu Shanlong had spoken during previous discussions, it was clear he was optimistic about the project—especially the opportunity to work with Li Tang, which he had considered a rare chance.
"After internal deliberation, our Hongda Group has decided to withdraw from this collaboration," Liu Shanlong stated, his tone final. "Our decision has nothing to do with anyone here, nor does it mean the project is bad. The main reason is that we are focusing all our efforts on the lead-zinc mine in Caiyun Province and truly can't spare the bandwidth to also participate in a molybdenum project here."
"I see. No worries, that's understandable," Li Tang replied graciously.
"I believe we'll have better opportunities to work together in the future," Liu added with a polite nod to Li Tang. "I came here today to apologize in person."
His words landed like a bolt from the blue.
The investment agreement they had spent so long negotiating, the one that was set to be finalized today—suddenly fell apart as Hongda Group pulled out at the last moment.
Still, Li Tang wasn't angry.
In his mind, the ones missing out were Hongda. If they walked away now, they were giving up their right to early-stage shares. Should they want to rejoin in the future, the cost would be at least ten times higher.
"I apologize to everyone," Liu said to the room, then turned and left with his team.
The scene stunned everyone—especially Xiao Yongyue and Yu Yong.
What had Liu Shanlong discovered behind the scenes that made him change his mind so suddenly?
Was there something shady about the project they didn't know?
"What's going on?" Xiao asked, puzzled, looking toward Li Tang.
"I have no idea," Li Tang shook his head, just as confused. He felt completely in the dark.
The sudden withdrawal of a major partner disrupted the entire rhythm of the deal. Just moments ago, everyone had been full of confidence. Now, that sense of certainty was starting to fracture.
"Did you and Liu Shanlong have any disagreement recently?" Xiao probed, suspecting perhaps there had been conflict between the two.
"No, not at all," Li Tang replied. "We haven't spoken since the meeting in Yanjing."
"Strange," Xiao muttered, scratching his head. "Ten million isn't even that much for Hongda Group."
"Like he said, they probably can't afford to be distracted right now. After all, the lead-zinc mine in Caiyun is the largest of its kind in the entire country—possibly all of Asia."
Li Tang tried again to defuse any tension. Then he looked around the room and asked, "Now that Hongda Group has withdrawn, I want to ask again—does anyone else want to pull out?"
Everyone looked at one another but no one spoke.
After a long silence, Geng Feiran raised his hand.
"Since Hongda Group has withdrawn, our Tongdu Nonferrous Group is willing to double our investment—putting in twenty million instead of ten. That would give us a 37% stake. Li Tang, everyone—how do you feel about that?"
That would make Tongdu the largest shareholder in the company.
Li Tang didn't even need to think. He immediately shook his head. "No."
"We're offering more capital. We want to invest more. Why won't you let us?" Geng said with a grin.
Li Tang ignored him and motioned to Alice. "Bring out the previously drafted cooperation agreement."
There were two versions—one created before Tongdu joined the partnership, and one after.
"Now that Hongda Group is out, Tongdu Nonferrous can take their place and invest the same ten million. Apart from my company, Li Tang Shengshi Holdings, the other three partners will each invest ten million for a 16.3% stake."
Li Tang's voice was firm—he left no room for negotiation.
From his perspective, Hongda Group's exit wasn't necessarily a bad thing—it could even be good.
He believed the 30 million earmarked for exploration was enough. With one less partner, his own share increased. His gains would be greater.
Alice handed out the finalized agreements to each corporate leader.
"If no one has objections to the terms, please fill in your company name, investment amount, and total equity, and sign at the bottom."
Li Tang wasn't in the mood to waste time. If anyone else wanted to leave, he would simply replace them.
"We brought both our corporate seal and legal representative seal. Tongdu Nonferrous will sign today, for sure!" Geng declared.
Back when Zhongcheng Mining was formed, Tongdu had hesitated and only took a small stake. Later, when Talego was revealed to be a world-class copper-gold mine, the regret was overwhelming.
Now Geng was once again face-to-face with Li Tang, hearing a new pitch.
It felt like déjà vu—almost like fate had given him a second chance.
This time, there would be no hesitation.
If the investment cap hadn't already been set, he would've thrown in even more money—ideally enough to take control. Then Li Tang would just be working for them.
"Sign it, President Yu," Qian Hao whispered to Yu Yong.
"We agreed, so of course we'll sign," Yu smiled, handing the documents to Qian Hao to fill out and stamp with both company seals and his own signature.
Despite the brief hiccup with Hongda Group, the signing ceremony went smoothly.
With the agreements signed and photos taken, the partnership was now official.
There was to be a banquet that evening, but before dinner, Xiao Yongyue couldn't wait—he went straight to find Liu Shanlong.
Liu was packing his bags, preparing to fly back to Yizhou Province.
"Boss Liu!"
Xiao had come to get answers. After all, they were both from Yizhou and had known each other for years.
"Why the sudden withdrawal? Did you catch wind of something?"
Liu motioned for his overseas-returned advisor, Lu Shengwen, to come over.
"Lu, tell Boss Xiao what you think of the Shazhai molybdenum project."
Lu wore glasses and a stylish scarf over his tailored suit. "From my assessment, the likelihood of discovering molybdenum at this site is low. First, I've looked through a lot of reports—so far, Huizhou Province has no large molybdenum deposits. It's simply not known as a molybdenum-rich region."
"Is that true?" Xiao turned to Dengba, who had accompanied the team from Tuyuhun.
Dengba gave a faint nod but said nothing.
"Second," Lu continued, "Li Tang's selected area in Shazhai County does show polymetallic mineralization—silver, lead, zinc, copper, and molybdenum. But we all saw the bureau's internal documents. They applied for funding to explore lead and zinc."
Lu had only been in Huizhou a few days, but he had already thoroughly combed through the technical records. He was clearly serious about his work.
"That tells us the geological bureau has been working in Shazhai for over thirty years—and they themselves don't believe in the molybdenum potential. Otherwise, they would've proposed a molybdenum project, not a lead-zinc one."
"It does make sense," Xiao admitted.
A cold shiver ran down his spine. Was his ten-million-yuan investment about to go up in smoke?
But the agreements had been signed. It was too late to back out now.
Besides, the only reason he'd gotten involved was Li Tang. If anyone else had proposed this project, he would've never joined. He was unfamiliar with Huizhou's mining landscape and wouldn't have taken such a risk.
Entering a region where he had no experience was already a gamble.
Every province and city has its own core business partners. For outside companies, entering these local ecosystems often means facing exclusion and pressure.
"It's just ten million. That's not even a big number for you," Xiao Yongyue said, still trying to make sense of the situation.
"I just don't want to have a failed investment on my record," Liu Shanlong replied bluntly. He clearly cared deeply about his reputation.
A failed investment wasn't just about losing money—it was a blemish on his professional history.
…
Shazhai Molybdenum Industry was officially established, and the funding quickly became available.
For the foreseeable future, the team would have a lot of work to do in Huizhou. Naturally, they needed a proper and presentable office location.
At this time, real estate prices in Huizhou Province's capital were below the national average. Even in the most prosperous commercial areas, office spaces were going for just 2,000 yuan per square meter.
With Li Tang's decisive approval, Alice used funds from Shazhai Molybdenum Industry to purchase an entire office floor—1,000 square meters for 2 million yuan. It even came with basic interior finishing, saving time and cost on renovations.
They also spent heavily on office equipment.
Meanwhile, the 3 million yuan exploration rights transfer fee to the Geological Bureau was swiftly paid.
He Runqi and the technical team had already integrated with the Geological Bureau staff, collaborating on the preparatory work for the molybdenum project.
According to the schedule, they would resume work on the third day of the Lunar New Year and head to Shazhai County to formally launch the exploration.
Li Tang hosted a project meeting at the bureau, solemnly explaining his prospecting strategy. He pointed out a distinct mineralization zone on a geological map that he believed held promise.
While everyone was busy, Li Tang made a trip to his aunt's house to say goodbye.
When his aunt's family heard he was leaving soon, they were shocked. Lin Feiming, in particular, was unhappy.
"You said you'd stick around for a while. At least stay until before New Year's!"
"You've been here for days, and except for the first couple, you haven't even come by for a meal," his aunt added, clearly feeling guilty for not having properly hosted him.
"Just stay a few more days," his uncle chimed in.
Li Tang appreciated their warmth, but work obligations in Yanjing were piling up. He had to leave.
In truth, the New Year wasn't far off, and he wanted to use the brief downtime to better prepare for the next year's work.
"Our company has a project here, so I'll definitely be back often," he assured them.
He had already booked an afternoon flight. Before heading out, he asked Lin Feiming,
"Cousin, once your leg heals, do you have any plans?"
"Plans?" Feiming scratched his head. "Honestly, no idea. I don't know how to do anything besides drive."
"Still thinking about driving?"
His aunt's heart clenched as soon as she heard that.
"Driving those ore trucks on the mine roads—accidents happen all the time! I don't want you doing that anymore!"
"What else can I do if I don't haul ore?"
"I pushed you to study back then, but you were so stubborn. Now look—no education, and you're stuck driving just like your dad. I worry every day!"
"I make decent money. Not all those college grads earn more than I do!" Feiming protested, then turned to Li Tang. "I don't mean you—just saying driving isn't that bad."
"No more trucks," Aunt Li said firmly. "I'll ask Sister Wang at our bureau to help find you something stable here in the provincial capital. Something easier, closer to home. No more worrying if you're gone for weeks on some mining road."
After the accident, she was adamant. She had been having nightmares about it for days.
"What kind of job can I even do in the city with no diploma?" Feiming asked, visibly discouraged.
"If nothing else, buy a small car and do some ride-hailing," his uncle suggested.
The whole family started arguing—clearly, this was a familiar dynamic, whether Li Tang was there or not.
Li Tang had come precisely to help Feiming figure things out.
"Our company has a long-term project here. We'll need at least one or two drivers—mainly to drive off-road vehicles to and from work sites."
He glanced cautiously at his aunt, knowing she didn't want her son driving again.
"If Cousin is willing, he can join our team once his leg heals."
"Driving nice cars?" Feiming's eyes lit up. "Like chauffeur jobs for the bosses?"
"Something like that," Li Tang nodded.
"Our mine director has his own driver. That guy walks around like a VIP. People give him gifts just to get on his good side."
Feiming was visibly impressed.
"I like the sound of this job. Can I really take it?"
"Of course. It's my call." Li Tang added, "Though the salary won't be as high as hauling ore trucks."
"A steady job? I'll take it!" Feiming snapped.
"Back when I was hauling, it looked like I made a lot—several hundred a day. But repairs drained my wallet. A single tire cost over a thousand. If I blew two in a month, it was like working for free."
"You'll be going to field sites?" his aunt asked.
"Sometimes, yes. We'll go to Shazhai for site work, but we stick to paved roads. It's much safer than driving up a mountain."
"Out there all year long?"
"No. We send staff when needed and bring them back afterward. You'll be out maybe half the year. Long drives, though—several hours at a time."
As the project matured, company executives would regularly visit the field, and they'd need a dedicated driver.
"I'm in!" Feiming said excitedly. "A job like this usually goes to someone with connections. Finally, something good comes my way—I'm not passing it up!"
"Great. I'll register you with the company. Once you're recovered, you can start."
Li Tang left him with the office address and phone number.
Then his cousin's wife chimed in timidly, "I've been home for years taking care of our kid. He's starting school next year, and I'd like to find work again. Is your company hiring women?"
"What kind of experience do you have?" Li Tang asked.
"I used to work retail and did a short stint at a textile factory. Other than that, just some odd jobs." Her voice was quiet—clearly she didn't think highly of her qualifications.
Li Tang hesitated. Most of his companies were technical in nature and required educated staff.
But for family, he was willing to be flexible.
"Can you read and write?" he asked—his lowest bar.
"Yes, I even went to high school, but I didn't finish."
"Good enough," Li Tang said, patting his chest.
"After the holiday, report to Shazhai Molybdenum. We'll have you organize files, manage the lights and doors, that kind of support work."
"Really?" She was overjoyed.
"Absolutely."
"You're helping us so much… What if your boss gets mad?" Feiming asked.
Li Tang laughed. "Don't worry. The boss can't fire me."
By now, everything in Huizhou was running smoothly. The entire setup had taken nearly a month.
Formal fieldwork wouldn't begin until after the New Year.
Li Tang returned to Yanjing with He Runqi, Alice, and the team—back to the Yunding Building.
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