ESP Software

MYOB - Mine Your Own Business

This article was written and uploaded January 2018.

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This section really starts to explain MYOB's depth so if you have read and understood that this is the opposite of the Offers section then you can skip the first paragraph.

So here are a list of plots that other company's have found but are unable to mine themselves because they do not have the right technology and decided to auction them. You are only shown plots here that you are capable of bidding for. Your financial liability will be to pay a fixed percentage every MYOB cycle until you have built a mine and exhausted the resource. NOTE that this means you start to pay the commission before a mine is built. The amount to pay is calculated according to the ever changing price of the mineral and the expected size. So, when and if your bid is accepted it is in your best interest to build the mine as soon as possible. Don't forget there is also an immediate fixed signing bonus to pay the plot owner that is ten times the current expected commission payment. You will also be sharing some parts of your technological advantage with a rival and this may not always be a good thing to do in the long term.

If your financial balance at any time goes negative you will be severely restricted in what actions you can perform because most actions require a positive balance. If you have low mining income and unable to sell any other assets there will be a final resort option in the finances screen (not yet designed) to do a Rights Issue where you create more shares in your company to significantly and instantly fix your negative cash balance.

Be very careful when making your commission percentage offer as significant shareholders on your board of directors will pay close attention to how astute you are operating your company. If you are making really poor business decision, then these important shareholders are likely to sell your shares and lower your share price, which in turn make your company more vulnerable to being taken over and you effectively being made redundant! More details about this will be in the shares menu when it has been written.

Generally speaking if the technology difference between the two company's is low then you will need to make higher percentage offer, 25% would be considered pretty high, and you need to hope that the seller is more interested in income than any technology gain. With a high technology difference then you can make a low percentage offer unless both technologies are relatively high, over 80, then once again higher commission might be more desirable to the mine owner.

Once you submit any offer you can not change, withdraw or make an alternative offer until 3 full days have elapsed. Unless the owner of the mine you make an offer on accepts an alternative bid and releases you from the deal, enabling you to make an alternative offer earlier than expected, or your company is takenover.

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