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Chapter 8 - Laughed Out of the Bank: The Last Five Hundred Dollars

To raise the money for the customary lease and the official mining exploration license from the Federal Cadastre Office, Ekenna walked into Apex Commercial Bank in the financial district.

He was wearing his best ironed shirt—the same shirt from his disastrous post-graduation interviews—and carrying a meticulously detailed fifty-page geological feasibility report that he had written by hand.

He sat across from the Senior Credit Officer, a man named Mr. Victor, who wore gold cufflinks and smelled of expensive French cologne.

Victor flipped through Ekenna’s handwritten report with two fingers, glancing at the charts, diagrams, and elemental analysis data with utter boredom.

"Mr. Ekenna... you have no collateral other than an old rural warehouse deed worth barely three hundred thousand naira," Victor said, dropping the document onto his desk. "And you are asking the bank for a high-risk exploration loan of five million naira to drill for... lithium and tantalum in the middle of nowhere?"

"The global demand for battery-grade lithium has skyrocketed by four hundred percent due to electric vehicle manufacturing," Ekenna explained passionately. "The pegmatite formation in Umueze contains over seven percent spodumene purity. If we secure the core drilling assays, the valuation of this tenement will exceed twenty million dollars within six months!"

Victor chuckled patronizingly. "Young man, you are a fresh graduate with zero track record, zero corporate backing, and zero capital. Do you know how many seasoned mining conglomerates with billions in assets fail to find commercial-grade ore? You want us to gamble depositors' money on a boy’s fantasy?"

"It is not a fantasy! The data is verified—"

"Loan application denied," Victor interrupted, stamping the red ink onto the cover sheet. "Security, please show this gentleman the exit."

Ekenna walked out of the glass tower onto the scorching street. The sun beat down mercilessly, but inside, his resolve was absolute ice.

He went to the city’s informal pawn market. He sold his late father’s mechanical wrist watch—the last sentimental item he possessed. He sold his laptop, which he had preserved throughout university. He took his father’s warehouse deed to an informal local moneylender who charged forty percent monthly interest, securing a high-risk micro-loan of four hundred thousand naira.

He paid Elder Okoye and the village council of Umueze two hundred thousand naira in cash. The legal documents were signed under the baobab tree with thumbprints and red wax seals.

With the remaining funds, Ekenna registered a corporate entity: Phoenix Earth Minerals & Exploration Ltd.

He was the CEO, the sole shareholder, the field geologist, and the only laborer.

He rented an ancient, rusted percussion core drilling rig from a bankrupt borehole contractor, hauling the heavy iron machinery to the desolate red hills of Umueze on the back of a sputtering flatbed tractor.

On a blisteringly hot Thursday morning, alone in the vast, silent wilderness of the Umueze Badlands, Ekenna pulled the starter cord of the diesel drill rig.

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The engine roared to life, spitting black exhaust into the clear blue sky.

The drill bit began its descent into the deep, mysterious earth.

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