Placer gold and silver lode mining had taken place at Butte, placer mining at Helena, Bannock and Virginia City, Montana territory respectively, and Butte was nearing the end of its silver lode mining phase. Lacking capital to develop the mine, Daly asked George Hearst, San Francisco mining magnate, for additional support. Daly had recommended Hearst purchase the Ontario mine, a silver mine in Alta, Utah, which consequently made Hearst many millions. Hearst brought in additional partners, James Ben Ali Haggin and Lloyd Tevis, and the Anaconda Company was born.