120 Ounce Ore

Posted on January 26th, 2012

Years ago a friend asked me to fly to Arizona for a weekend to look at the Tip Top Silver Mine with the purpose of putting a proposal together for potential investors. The idea was to reopen the mine that had been very prosperous many years before.
 
What we found was not only interesting, but provided me with a valuable lesson that I continue to employ. We were told that the quality of the mine was measured by how much precious metal (in this case silver) could be found in one ton of ore (rocks).
 
The decision to mine the ore was therefore based on the current price of the metal, the quality (example - 120 ounce) of the ore, and the costs associated with the mining it (extracting the silver and transporting it to a market).
 
At that time we were told 120 ounce ore would be very valuable based on all of the above factors. Unfortunately, that was not the quality of ore that was believed to remain in the Tip Top mine. It was estimated to range from 10 to 50 ounce ore (unless a new silver vein could be found.
 
But I found the trip to be well worth my investment in time and money. It provided me a way to look at new ideas. Those who worked closely with me over the years since have heard me ask - is that a 120 ounce ore?
 
People love their ideas, but often fail to have a "standard" by which to measure their value. I have found that there are lots of 10 ounce ore ideas and even some 50 ounce ore initiatives. But to be successful, one must search for, and be able to identify, the 120 ounce ore ideas.
 
What about you newest idea?  Is it a "120 ounce ore?"
 
- Paul Otte