Cost Book Company
The traditional way a Cornish mine operated was as a Cost Book Company.
Investors, often called ‘adventurers’, would often do well as the mine prospered, but should a mine run into difficulties, were liable for all the debts - not just to the extent of their own investment. Mining could be a high risk venture. The mine was run by a manager who appointed agents often called ‘captains’ to supervise underground work and surface operations. Sometimes mining companies could persuade wealthy ‘out adventurers’ from other parts of the country to invest.