By the middle of July 1907 plans, including a post office, were proceeding ahead full steam for the development of the new mining camp, which was being renamed "Panamint." Over 100 claims had now been staked, with prospectors still swarming over the area. Salt Lake interests were the principal backers of the camp, intending to organize two companies, each with a capital of 1-1/2 million dollars; two more companies were due to organize within another month. Businessmen were commencing at once to sell stock, but would wait until fall to begin actual development work:
the numerous ledges of gold discovered . . have given all a full faith in the camp. They maintain that Greenwater, Skidoo and Lee, with all of their indications, are not ahead of the new Panamint. It is also believed that the famous Breyfogle was found and lost in this section, and that the new discovery is within a few miles of "Scotty's" famous mines.
In short, the prospectors and persons interested in the new discoveries are confident that the Panamints will witness the next excitement in Nevada-California mining. [375]