Chapter 299 - 154: Paying a Visit

Chapter 299: Chapter 154: Paying a Visit

For more than a week straight.

Jiang Miao had been roaming around Zhelimu City and several surrounding cities. He swept through areas like the Da Xing’an Ridge and the Kerchin Desert in particular.

After eliminating the mineral veins that were buried too deep underground.

He selected five mineral veins with relatively high development potential. This included the gold-silver composite vein previously discovered in the eastern part of Home County, along with four other veins.

These mineral veins were:

A lithium-potassium-sodium-cesium vein discovered near Temple Mountain in Forest City, northeast of Zhelimu City. The deposit contained 24,000 tons of pollucite ore with an average grade of 19.7% cesium oxide, as well as significant amounts of potassium and lithium. The vein’s distribution was rather unique, extending diagonally underground. After stripping away the surface soil, it could be mined starting at a depth of 33 meters.

One in Zhao Wuda City, west of Zhelimu City, near Yezhugou Town. It was a sedimentary hard manganese ore deposit, at a depth of approximately 144 to 157 meters. The area was not large, making it a medium-sized mineral vein.

Another one was also in Zhao Wuda City, but this vein was west of Yangjiaz Town in the northern part of the Zhaowuda District. It was a rhenium deposit buried at a depth of 338 to 346 meters. Moreover, it was an extremely rare, high-purity native rhenium deposit. If fully extracted, it could yield 76 tons of rhenium.

One located east of Xinglong Mountain Town in Tongyu County. This was a gold-silver-copper composite ore body at a depth of 214 to 233 meters. The only complication was that the deposit was located beneath a riverbed.

Just as Jiang Miao was planning to continue westward.

Lü Weibin gave him a call.

After the call, he scrapped his plan to head west and instead drove quickly back to the main base in Home County.

That afternoon, Jiang Miao and his group returned to the main base, weary and dust-covered from their journey.

Several groups of people had arrived at the base.

One group of visitors was particularly special, which was why Lü Weibin had notified him to return.

Inside the temporary office reserved specifically for Jiang Miao.

Jiang Miao met the visitor, who was Gao Meng, the General Manager of the Monan State-owned Assets Operation Company. When she saw him knock and enter, she immediately stood up with a smile on her face.

"General Manager Jiang, hello. It’s a pleasure to meet you. I’m Gao Meng, the General Manager of the Monan State-owned Assets Company."

"General Manager Gao, hello." Jiang Miao extended his hand and shook hers. "Please, have a seat."

The other members of both parties also took their seats.

After Li Zixuan poured a cup of tea for Jiang Miao, Jiang Miao spoke up. "General Manager Gao, I hear your company is interested in investing in ours?"

Gao Meng hadn’t expected Jiang Miao to be so direct, but she thought it was for the best. She smiled and nodded. "Yes. Before coming here, we researched your company’s situation. If possible, we would like to acquire 49% of your company’s shares at a price of 40 times the price-to-earnings ratio."

"I’m sorry, but I have no intention of selling shares in the parent company. However, a partnership involving a subsidiary is a possibility," Jiang Miao said, having anticipated this.

Gao Meng wasn’t surprised. Through various channels, she had learned a little about Jiang Miao’s personality. He wasn’t someone who liked other shareholders meddling in his company. Besides, Hailufeng Company was a well-known entity in high places. Her investment proposal was more of a trial balloon; it didn’t matter to her whether it succeeded or failed.

"General Manager Jiang, I wonder what specific subsidiary partnership you have in mind?" asked Li Chongdao, the head of the investment department at the Monan State-owned Assets Operation Company, with interest.

Jiang Miao laid out his idea. "My company plans to develop the Monan Region’s rich phosphate and gold-copper resources, so we intend to establish a subsidiary focused on mining."

Zhao Shuisheng, a vice manager in the state-owned company’s investment department who had studied local minerals, looked slightly confused. "Gold and copper ore, I understand. But phosphate? As far as I know, no large-scale, commercially viable phosphate deposits have been discovered in Monan, have they?"

"Heh heh." Jiang Miao laughed. "Everyone, if there were large deposits with commercial mining value, they would have been developed long ago. What’s left are either small deposits or ones in extremely challenging geological environments."

"In that case, what phosphate deposits are you referring to, General Manager Jiang?" Gao Meng asked curiously.

"Our company is currently researching biomining technology."

Zhao Shuisheng, who had spoken earlier, frowned slightly. "I’m aware of that. But from what I know, biomining is inefficient. Its costs would likely have a hard time competing with traditional phosphate mining methods, wouldn’t they?"

"At the current laboratory stage, we can achieve a refining cost of 2,470 yuan per ton of pure phosphorus," Jiang Miao said, tripling the actual figure on the spot.

"That cost is too high." Zhao Shuisheng shook his head. ’I don’t have much faith in this technology,’ he thought.

Gao Meng was also skeptical of the technology. "Is that at the laboratory stage? Large-scale application should be able to lower the cost a bit, but as Vice Manager Zhao said, the cost is still too high. It’s difficult for us to push for an investment in a technology that can’t compete in the market."

Jiang Miao didn’t think they were blind or foolish. After all, as an investment firm, they naturally had to look at feasibility analyses and future profit projections. That’s what a competent investment firm’s management does. If they invested just because someone spun a good yarn, the company would go under sooner or later.

He took a sip of hot tea and then explained, "The high cost is mainly due to two factors: the efficiency of phosphorus absorption by the bacteria, and water consumption. However, both of these can be gradually improved."

"General Manager Jiang, I’m aware of your company’s developments in biotechnology, but I still believe the outlook for this project is too poor." Gao Meng shook her head.