Stuff That Interests Me
An eternal lesson for investors from a ill-fated silver mine
- Autor: Vários
- Narrador: Vários
- Editor: Podcast
- Duración: 0:11:06
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Sinopsis
While on holiday in Sark this week, I stumbled across a book in the local post office: “Silver Mining On Sark” by David Synnott, which describes an ill-fated mining operation on the island between 1836 and 1847. Books are distilled knowledge, and I love the stuff you can find in them. Often stuff you don’t find online.“Plus ça change, plus c’est la même chose”, runs the old French saying. It applies to mining, it seems, as much as anything. We don’t use canaries any more; mines are powered by diesel and electricity, not horse-, donkey- or and manpower; helmets have torches instead of candles and there is underground lighting; and a higher premium is placed on human life than in the early 1800s, when workers were much more disposable. But the game is exactly the same: you’re trying to extract metal from rock and sell it at a higher price than you mine it for. The tricks of the trade, aka scams, are the same too. So let me tell you the story of Sark’s silver mine. How a silver mine brought the boom times to