A more thorough explanation:

A cost-book mining company is a group of people who come together to work on mines or lodes. The company's capital stock is divided into shares that can be transferred without the consent of other members. The management of the mine is handled by an agent called a purser.

For example, a group of investors may form a cost-book mining company to work on a gold mine. Each investor would own a certain number of shares in the company, and the profits from the mine would be distributed among the shareholders based on their ownership percentage. The purser would be responsible for managing the day-to-day operations of the mine.

Another example could be a group of miners who come together to work on a silver lode. They form a cost-book mining company and divide the shares among themselves. The purser would be responsible for managing the finances and ensuring that the mine is profitable.

These examples illustrate how a cost-book mining company works. It allows individuals to pool their resources and expertise to work on a mining project. The shares can be easily transferred, making it easy for investors to buy and sell their ownership in the company. The purser is responsible for managing the mine, ensuring that it is profitable, and distributing the profits among the shareholders.