Chapter 168: We Can't Trip Over the Same Stone Twice
"We're brothers, right? Don't lie to me," Xiao Yongyue said, still skeptical.
"Gongcun Copper-Gold Mine might not be as big as Qinglong, but based on the current results, it's actually very promising. The scale isn't massive, but it's not small either—it's just right for us to keep going," Li Tang said calmly. "In business, you have to find what suits you. A supermine like Qinglong is beyond our reach. Let's not get greedy. Gongcun is definitely a large deposit—possibly a super-large one. I think we ought to seriously consider how to continue tapping this treasure."
"Really?" Xiao's expression started to shift. He was beginning to believe it.
"Captain Damba is up on the mountain with the geology team. When he's back tonight, you should sit down and talk with him," Li Tang said casually. "The data doesn't lie."
"You only just struck ore?"
"We've been hitting ore for months now. Every day brings new discoveries. Piece by piece, it's adding up to a major deposit."
"Why didn't you tell me earlier?"
"You haven't been around the project. It was hard to reach you."
In Tubo Province, sunset came later than in the east. Around 8 p.m., Damba and his team returned to the dormitory compound after a long day on the mountain.
Xiao couldn't even wait for dinner—he immediately pulled Damba aside, too excited to hold back. "Li Tang told me you guys have found a major deposit here. Is it true?"
"We've had really good results so far," Damba said, still dusty from the field but full of enthusiasm. "Copper reserves are at about 500,000 to 600,000 tons. Gold reserves are definitely over 60 tons. We've also identified silver, lead, and zinc as by-products. Those are valuable too."
Xiao scratched his head. He wasn't very familiar with copper-gold deposits. "Compared to Qinglong, how does this deposit measure up?"
"You can't compare the two," Damba shook his head. "Qinglong is globally ranked. Gongcun can't compete with that. But, Boss Xiao, that doesn't mean it's not valuable in its own right."
"So, it's a bit smaller?" Xiao looked disappointed.
"Well, let's put it this way: Qinglong might be worth hundreds of billions. Gongcun's total economic value is probably about one-tenth of that. Based on current market prices, it's conservatively worth 40 to 50 billion yuan," Damba said with a smile.
"Forty to fifty billion?" Xiao's whole body twitched.
He was a hardened businessman from the northwest—he'd seen a lot—but hearing that number still shook him.
He had originally dismissed this project completely.
He had invested two million not in the project, but in Li Tang the person.
He was betting that this young man could help him find the next Qulong or Qinglong—a real treasure.
Back when Li Tang first proposed investing 50 million into Gongcun, Xiao had hesitated.
That much money? Too risky.
The business world is treacherous. Who knew if a smiling "brother" would turn around and sell him out?
So his plan had been to invest a little—test the waters. If it looked like they were getting close to a massive find like Qulong or Qinglong, then he'd invest more.
But early exploration showed poor grades in both copper and gold. Xiao lost interest and set his sights on Qinglong instead.
He never dared consider Qulong—that was Wukuang's territory. Only a fool would try to fight them for it.
But Gongcun?
After a slow start, it was now rising fast—already confirmed as a large-scale deposit.
It was like a story straight out of mythology.
"Forty or fifty billion? And that's just a conservative estimate?" Damba added, smiling. "With daily drilling, we keep finding more. The potential around the ore body is massive."
"I underestimated Li Tang's eye for value," Xiao admitted with a sigh.
"Gongcun has one major advantage over Qinglong," a voice suddenly cut in from behind.
They turned around and saw Li Tang crouched nearby, eating from a large bowl piled with rice and meat. They'd gotten so deep in conversation, they hadn't noticed him squatting there in the fading light.
He swallowed his food and looked up with a grin. "Gongcun may be smaller and worth less than Qinglong, but it has one big strength: it's very easy to mine."
"Easy to mine?" Xiao hadn't thought about that.
"The project site is right over that mountain—just a short drive from the county. Power supply is easier to handle. There's a natural stream running through the project area—plenty of water. And there's a paved highway straight to the provincial capital. Building the mine, transporting equipment, hauling ore—none of it will require massive infrastructure costs. That saves a huge chunk of money."
Li Tang held his bowl in one hand and spoke calmly. "Most importantly, the ore body is shallow and very thick. Based on my calculations, once we start mining, the stripping ratio could be as low as 1:2."
The stripping ratio is key to calculating mining cost. A ratio of 1:1 means removing one ton of waste rock for every ton of ore.
The higher the ratio, the higher the cost.
"Isn't it a little early to talk about mining?" Xiao was still grounded in reality.
"If we don't plan ahead, we'll be caught unprepared," Li Tang replied. He stood up. In the dim evening light, his eyes shone with quiet conviction. "I believe that as the economy continues to grow, demand for resources will explode. Prices for copper and gold will rise fast. Our mining license will become exponentially more valuable."
"You really believe in this mine that much?" Xiao looked at him seriously.
"Absolutely," Li Tang said. "If I didn't, I wouldn't have risked everything I own to stake this claim."
He crouched down again and resumed eating.
Xiao sat beside him, rubbing his stubbled chin, deep in thought.
"I'll let you two talk." Damba sensed they needed some privacy and walked away.
By the time Li Tang finished his meal, Xiao had made up his mind.
"You called me here because of funding, didn't you?" he said at last.
Li Tang placed the empty bowl on the ground, clapped his hands, and didn't hide anything. "The project needs more capital. If you're interested, you can review the financial records. Geological Team Six has the payment logs."
"No need. If I'm investing in you, I trust you. Business is about trust," Xiao said with his usual bravado. "So tell me—what's the plan for the next phase? How much more money do we need?"
"To fully define Gongcun's reserves, we need at least another 50 million. That's a number I've already calculated carefully."
Li Tang didn't beat around the bush. "You're a shareholder. You have the right to know how we're planning to raise the funds."
Though Li Tang held 90% of the company, he still respected Xiao's role as a partner. That's just how he did things.
"How are you raising the money?" Xiao asked.
"You have first refusal. If you want to increase your investment, it's your choice."
Li Tang didn't pressure him. "If not, I'll start talking to Wukuang Group and Zise Mining again. We've got the results now—no one will laugh us out of the room. I could also approach other gold companies in China. Someone will be interested."
"With the current market, you think it's possible to raise 50 million?" Xiao asked.
His own potash business was steady—unaffected by the mining slump—but he knew most mining companies were tightening belts.
Finding 50 million wouldn't be easy. Only state-owned enterprises had that kind of muscle.
"Not easy," Li Tang admitted. "Gold has been stuck at low prices for years. Most mines are unprofitable—especially in China. Copper is no better. Low grades, high costs—it's a struggle. The whole industry's down. Confidence is low. No one wants to drop 50 million just like that."
"Then how do you expect to convince anyone?"
"There are people out there—people with vision—who can see that China's demand for resources is growing fast."
Li Tang believed that sharp minds would already have noticed this shift. "Prices haven't caught up yet, but they will. Right now, it's just inertia—years of low expectations. But the market will catch up soon. Prices will rise."
"You think copper and gold will spike soon?" Xiao was stunned by his certainty.
"I'm sure of it," Li Tang nodded. "Keep an eye on this year's iron ore negotiations. If I'm not wrong, China's steel industry will finally have a seat at the table."
"You know what? I actually want to see if your predictions are right," Xiao said.
He wasn't as confident in the mining market as Li Tang, but it wouldn't take long to see who was right.
And their talk wasn't just theory—it had real-world stakes.
"So what's your valuation for Gongcun Gold Company?" he asked.
"Two hundred million," Li Tang replied without hesitation. "If we sit on the license until next year—or the year after—prices will rise and the license will be worth more. But I don't want to wait."
"Two hundred million…" Xiao glanced at him. The young man was so full of confidence it was almost scary. "If I invest 50 million now, I only get 25%? That's not very attractive. You know that state-owned enterprises only step in if they can control the company."
"They're welcome to control it—just bring more money," Li Tang said simply.
"That's a nice idea. Not easy to pull off though."
"Never underestimate the power of SOEs," Li Tang replied. "They always say they're broke, but when the time comes, they can pull together billions. Just wait—two or three years from now, they'll be buying foreign mining companies with 20–30 billion yuan."
That kind of firepower was something private firms simply couldn't match.
If the company expanded its capital base, Xiao would have priority. But it would take courage to throw in that kind of money.
He'd already missed out on Qulong and Qinglong.
Was he really going to miss Gongcun too?
If another SOE came in and took control, he might lose his chance forever.
At the beginning, he'd played it safe—only investing two million.
Now that stake had increased in value nearly tenfold.
In just two months!
If he had matched Li Tang's investment—say, 50% ownership—the story today would be very different.
You can't stumble over the same stone twice.
After a long silence, he made his decision.
"Alright. Don't talk to the SOEs yet. Let me take care of it first."
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