Chapter 277: Waiting for You to be 18
When Walsh Mining was rebranded as Hardy Mining, it initially issued 10 million shares. Following a stock split, this number increased to 40 million. The release of new exploration data caused the stock price to soar, reaching $12.6 within days.
Optimism about Hardy Mining was high. With gold reserves estimated at over 800 tons and gold priced at $35 per ounce, the total value of the gold mine was projected to be around $1 billion. However, Hardy Mining's stock was trading at $6.3 per share, valuing the company at only $520 million. Experts suggested that the stock price should be above $13 per share to reflect the mine's true value, anticipating a sharp rise in the future.
Hardy's approach involved stock manipulation. Holding 95% of the shares, his goal was not merely to increase the stock price but to use it as leverage for securing bank loans. By keeping the stock price high, he aimed to avoid direct out-of-pocket expenses and instead use the stock as collateral for a substantial loan.
By December, Hardy Mining's stock price had stabilized around $11, with the company's total value nearing $900 million. Hardy was preparing to apply for a stock pledge loan, a common financial strategy where the value of the company's equity determines the loan amount, often up to 70% of the equity's par value.
Hardy sought $450 million in loans—$400 million for land purchases and $50 million for mine development. Andy was tasked with negotiating this loan and contacted various banks, including Wells Fargo, Bank of America, Safe Pacific Insurance Company, Bank of San Francisco, and other institutions such as Manhattan Bank and Citibank.
David Rockefeller, upon reviewing Hardy's impressive track record, approved the loan. After more than ten days of negotiations, Andy successfully secured the full $450 million.
With the financing in place, Hardy and Andy flew to Australia to meet Governor McGowan in Perth. Despite skepticism about the massive land acquisition, Hardy was resolute. The Western Australian government required that purchased land be developed, and Hardy committed to starting mining operations within two years and exploring other areas for potential mines.
Upon finalizing the land and mining licenses, Hardy and Andy returned to Los Angeles. Vice President Jason stayed behind in Australia to manage ongoing affairs.
As Christmas approached, Tyler returned and was disappointed to find that Hardy was still in Australia. When Hardy finally arrived back, Tyler eagerly sought his company. The two spent time together, enjoying each other's presence. Tyler, feeling bold, hinted at wanting to be more intimate.
Hardy, aware of both the legal implications and their age difference, gently reminded Tyler to wait until she turned 18. Despite her youthful eagerness, Hardy was careful to respect legal boundaries and personal ethics.
Their time together was tender and affectionate, but Hardy remained cautious, balancing his business ambitions with thoughtful consideration of his personal relationships.