It is the kind of deal Kalgoorlie-Boulder's unofficial boardroom, The Palace Hotel, has seen many times.
But not so much this century.
It was 2009, and the annual Diggers and Dealers Mining Forum was in full swing. Miners across the State were still recovering from the depths of the GFC, and wedged in between the Kalgoorlie entertainment and the hoards of miners regaling yarns at the annual gathering sat Scott Wilson.
A Kalgoorlie local and professional prospector, Mr Wilson is wellknown in the mining community and one of only a handful of active stand-alone prospectors left in the State.
In a chance meeting, Mr Wilson - who was on crutches at the time and couldn't move far - was approached by an old mate, Allan Kelly. The two had met when Mr Kelly was working for Avoca Resources, and, over a beer, Mr Kelly told the Kalgoorlie local about a new float he was putting together focused on the Meekatharra area.
A float that would eventually become Doray Minerals, a company now worth $74 million and producing 75,000 ounces of gold a year.
A round of beers, a handshake and $1500 - on a credit card no less - was all it took.
"It was a tough time, post-GFC, there weren't many deals being done, " Mr Kelly said, recalling the day in the pub.
"We had a beer and a chat and I said what's being done with Andy Well? He said, well, nothing."
Mr Wilson, like any good prospector, was all ears. He had just regained 100 per cent rights to the land on which Andy Well sat only months earlier after a string of failed joint ventures.
"Scott (Wilson) said the tenement rates were due, so I agreed to pay the rates ($1500), for a one-month first right of refusal to have a look at the data.
"I wasn't working, so I had to put it on my credit card pretty much.
"I remember asking him if he wanted to write something down, and he said: no look, and stuck out his hand so we had a beer and shook on it." That old school contract, something almost obsolete in today's corporate world, would net Mr Wilson, Mr Kelly and Doray shareholders millions.
After a drilling campaign and the usual rigmarole surrounding the development of a greenfields gold project, in August last year Doray gained 100 per cent of the project by buying out Murchison Resources, a company formed by Mr Wilson in 1986. The deal involved a mix of cash and shares for $14 million.
But for the Kalgoorlie lad, it's no flash in the pan - it's the culmination of a life's work. "I started prospecting with my dad while still at school and then took it up full-time pretty much straight out of Year 10, " Mr Wilson said.
"I first pegged the ground (where Andy Well now sits) in 1988 and have held an interest in it ever since. There's been quite a few joint venture partners over the years that weren't able to commit to the ground properly.
"Like many prospectors you think, well, there could be something there. A bit of geology and a bit of good luck is what you need ... but it's a rare event." Mr Wilson, a former president of the Amalgamated Prospectors and Leaseholders Association of WA, reckons there are still many - albeit diminishing in number - genuine full-time prospectors still scattered across the State, searching for that elusive big find (due to their obscure lifestyle no one really knows, but estimates range from 40 up to 100).
From quasi-billionaire Mark Creasy to nomad prospectors such as Bill Richmond - who lives out of his van - no matter their financial position all of these characters embody that unique blend of the pioneering attitude the WA mining industry was built on. And although he has done very well out of his handshake agreement with Doray, Mr Wilson said prospecting was all about the thrill of the chase - any financial reward was a bonus. "Like most prospectors, I just want to be part of a discovery. That's what keeps us going, " he said.
"If I was around in the 1890s , I would have been out there with Paddy Hannan, but hopefully just in front of him .
"But today, it's all about identifying prospective ground, adding some value by going through all the history and researching what others have or haven't done.
"If more detailed work is required then finding a joint venture partner, like I did with Doray, is the way to go. It's creation, really … discovering something where there was nothing, and a dose of gold fever helps to keep you going."
Mr Wilson was a guest of honour at Doray's recent mine opening for Andy Well and, although he was humble -"it's not about me"- he said it was a proud day for him and prospectors in general.
"It's been rewarding to just hang in there while others have come and gone, " he said.
"To back your convictions and still be a small part of the final product with Doray.
"Even just holding a metal detector and finding a few nuggets, it can lead to bigger things.
"In WA, the Mining Act allows for anyone to have a go. It doesn't differentiate between BHP and Scott Wilson - it's about the opportunity to be competitive, which is a great thing.
"Of course the companies have deeper pockets and drilling is the name of the game, but prospectors have a role to play by using local knowledge and different ideas to find new things." For Doray - one of only a handful of WA gold companies to get through this year's carnage relatively unscathed with the low-cost high-grade Andy Well project - the next step is finding another project.
Mr Wilson has a new company, Zebina Minerals, and said he had some new projects on the go.
Who knows, maybe another beer is in order.