Sonia was woken by the phone. It was dark, and she was disoriented after being dragged from a deep sleep.

“Number five is gone,” said a voice she took a moment to recognize.

Sonia was the CEO of a small mine in Western Australia, not far from Perth. The mine was less than a year into production, but from all the geophysical surveys and mineral samples they’d taken she thought it was a fair bet there was a lucrative seam beneath them.
Number five … number five …

The realization crashed into Sonia like a fist. “Depot five?” she almost screamed. “Gone?”Mining Truck

“There was a fire a few hours ago,” said Nathan, Sonia’s personal assistant. “Our OH & S fire crew got there too late to save it.”

Depot five contained the largest truck in the quarry. The mine could have all the deposits in the world, but they’d all go broke if they couldn’t transport them.

Sonia set out a plan for Nathan to implement and then hung up. She thought for a moment and dialed another number.

“Peter?” she said to the sleepy voice that answered, “we have an emergency.”

Peter was a manager at PTR Asset Finance, a business equipment financing broker in Perth. He had organized the PRT 1finance for much of the equipment Sonia currently used in the mine. They had a great relationship – one that was about to be tested.

Sonia explained what happened. Peter grasped the consequences: The mine had contracts to supply a certain amount of raw material to its customers at designated times. With their largest transport vehicle gone it meant the contracts couldn’t be filled. Not fulfilling these contracts meant loss of immediate income and exposure to potential lawsuits – a double whammy. On top of this, the mine had set repayments for the equipment PTR had already financed for them – equipment destroyed in the fire and of no use.

“How long before an insurance assessor can make an investigation?” Peter asked.

“Nathan said one would be here by lunchtime tomorrow.” Sonia paused, thinking fast. “That’s too long. The mine is producing $60k a day. As things stand now, if the assessor takes two days we’re done.” A note of desperation crept into Sonia’s voice, “Any ideas?”

PTR Asset Finance are not just in the finance industry, they’re in the risk industry. They realize that without risk there is no reward; but that the risk has to be understood. And they are very, very good at understanding risk.

“We’ve factored something like this in. You’re good for another 5.5 million for emergency situations (Peter didn’t even need to consult his computer). What was the truck you lost an M3? Lease one from Cooloola Mine they’re not using all theirs. You can work something out with them while you look around for a replacement.”

Sonia hadn’t cried since she was a teenager. But she could feel the tears bubbling up to her eyes when she heard this. So  much work had been done, so much risked and planned and hoped for.

“Thankyou Peter,” she croaked. “You’re a lifesaver.”

“I’ll get things moving my end. You’ll have the credit by 10am.” He paused thinking, “You’ve got a busy day ahead of you Sonia,” he joked.

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