Climax Mining Co. - Colorado Mining Stock Certificate - Infamous Climax Mine
Inv# MS1803 Stock
Stock printed by American Bank Note Co. New York. The Climax mine, located in Climax, Colorado, United States, is a major molybdenum mine in Lake and Summit counties, Colorado. Shipments from the mine began in 1915. At its highest output, the Climax mine was the largest molybdenum mine in the world, and for many years it supplied three-fourths of the world's supply of molybdenum.
After a long shutdown, the Climax mine has reopened and resumed shipment of molybdenum on May 10, 2012. The mine is owned by Climax Molybdenum Company, a subsidiary of Freeport-McMoRan.
The prospector Charles Senter discovered and claimed the outcropping of molybdenite (molybdenum sulfide) veins in 1879, during the Leadville, Colorado Silver Boom, but had no idea what the mineral there was. Senter determined that the rock contained no gold or silver, but retained the claims. The following year he settled with his Ute wife a few miles north, and he made a living working a nearby gold placer. Each year he performed the assessment work required to maintain his lode claims, convinced that his mystery mineral must be of value. In 1918 Senter received $40,000 for his mining claims and "settled into a comfortable retirement in Denver." Read more at https://en.wikipedia.org/wiki/Climax_mine
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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