You decide to speak with the dwarves first.
"Greetings, King of Yoe! We have tested the soil and rock of the south lands. They bear small amounts of sulphur, copper, coal and saltpetre. The soil is mildly fertile and naught a precious nor metal of crafts is to be found with great amounts there." You thank the dwarves and the Treasurer provides payment to the dwarves.
Your Advisor and Spymaster speak with you.
"My liege, saltpetre, sulphur and coal are few of the ingredients of the Fireblood." Says the Spymaster.
"It is however rare to find all three so close to each other. Clearly, the Felonsines and Ceodwells heard about this recently too, and are in such a great rush to have it."
"Felonsines have Blackhearts and thus is no surprise to see them try to procure ores of minerals they need for them, and I guess your father-in-law wishes to have his own Blackheart unit as well."
"Can we mine for these minerals and make our own Fireblood?"
"Aye, but we need to obtain the formula and the alchemists skilled in making it and someone to cast and operate the fearsome siege engines, first."
As for the southern land, you decide to...
A) Invest into mining of the ores and claim them all for yourself.
B) Sell the mining rights to your father-in-law, King of Ceodwell, and of course at a great price.
C) Sell the mining rights to your western neighbours, the Felonsines, hopefully at a great price.
As for the matter of Fireblood, Blackhearts and the related craft...
A) You will obtain them from the Felonsines, perhaps in a way of trade.
B) You will send spies and agents to buy, steal and procure the things in one way or another.
C) You won't be pursuing this new invention at the time.
//Remember, no split votes.