on the ABC news website:
Morning Star mine to shine again
Monday, 27/07/2009
Today the Morning Star goldmine, east of Melbourne, will start extracting gold at the Woods Point site for the first time since the early 1960s.
Once Australia's biggest goldmine, the low price of the metal stopped production.
Now with historically high prices, the mine is back.
Nicholas Garling, CEO of Morning Star Gold, says there are millions of ounces of gold in the mine.
"We think there's well in excess of a million ounces in the Morning Star," he says.
"If there's 2-3 million ounces just in the upper levels we wouldn't be surprised.
"2-3 million ounces of gold at today's gold prices is more than 3 and a half billion Aussie dollars worth of gold, in gross terms."
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