While exploring the ground, they notice a rival prospector whom they call 'Squashy Hat'. After days of prospecting, Roger finds a seam of gold-coloured mineral in an old mining excavation, and crush enough of it in order to produce a golden ingot in a charcoal furnace. Unfortunately, it disappears when the crucible breaks, and Dick, the expedition's professor, has only a small amount to test. Meanwhile, Squashy Hat is consulting the old slate miner, entering through beneath the fell via an old mine working. Seeing him, the younger three children walk inside the fell, resulting in Titty having to follow them in to look for them, with very nearly fatal results. Christina Hardyment writes that venturing into the Old Level was probably the most idiotic thing that any of Ransome's characters ever did.