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The History of Mining: The events, technology and people involved in the industry that forged the modern world by Michael Coulson

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8. The Mining Promoters

Although this book is primarily a history of mining and miners we should not ignore the activities of promoters and financiers, a breed which have been prominent throughout mining history, and in particular thrive during periods of high excitement like the Aussie boom. Their efforts are, as often as not, unsuccessful, for their investors that is; many seem to be in business largely to separate investors from their money. The following description from London mining analyst Rob Davies’s The Mining Promoter’s Handbook sums things up succinctly:

“Never forget that the object of the company is to raise money for the benefit of the directors. It is not the aim of the company to find anything. That makes life far too complicated ...

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