The brainchild of Ethan Malich, this company was founded 1105-077 (the end of the Party’s stay in Regina following their pirate encounter at Forboldn). By 1105-105, Ethan had commenced operations, ordering a number of mining craft from Regina and elsewhere, mining asteroids in Forboldn.
The company was successful from the start, and thanks to Ethan’s administrative acumen, operates consistently in the black, financing its own expansion, despite average overhead & payroll expenditures twice those of most other mining companies (Ethan says the success is because of this extra expenditure). As the sole stockholders consist of the Party, there are no shareholders or board of directors to appease, no dividends to provide. The company is able to concentrate just on its own operations. By the end of 1105, Ethan anticipates a monthly income of ~90 MCr per month, and he plans to spend two years expanding before tapering off, siphoning the profits then (665 MCr net per month anticipated by mid-1107). Given Ethan’s starting capital was merely 200 MCr, this is a fantastic return on investment.
The overall modus operandi is to sell only Uncommon Ore grades and higher, but to offer common ore to anyone who wants it, free. Similarly, Forboldn Mining owns only a handful of cargo ships, preferring to sell its cargo in Forboldn rather than incur transport fees. While this reduces maximum sale price, it also means FM doesn’t need to buy, lease, or operate its own freight-haulers, at a great reduction in capital costs. The company is registered in Regina, and that is where it pays taxes.
By the end of its second year, Forboldn Mining will likely be large enough to warrant its own noble representative within the Imperium.
The company is not unprotected; indeed, Ethan has been diligent to ensure he hired or recruited sufficient defensive forces to make Forboldn Mining an unprofitable target for most pirates & corsairs; there’s a limit to how many fighters and SDBs most pirates are willing to face, and FM takes a dim view towards piracy, indeed.