Ann: AGM Address and Presentation, page-67

At the risk of being moderated yet again (probably at Vertigo's instigation) I must emphasise that MCO is not a walk up start. The aforementioned armchair miner has absolutely no comprehension of the Morning Star, Rose of Denmark et al geology and associated gold endowment. Gold Mines of Australia (Western Mining Corporation) were at the fore front world wide from a narrow vein mining and exploration perspective and they exhausted all avenues in terms of finding further economic ore zones before they reluctantly shut down in the mid sixties. You can argue endlessly about the change in gold prices, wages etc since those days but the facts are that, whilst there might be the odd high grade shoot here and there, there are no sustainable ore bodies above the 10 level. The "gap zone" below the 10 level has been quite extensively drill tested without any significant results.
There is prospectivity below the bottom level (25) but access involves extensive de-watering from the 10 level to the 19 level, rehabbing the shaft from 10 to 19, rehabbing the crosscut to the underlay shaft, installing a new winder, pumping from the 19 to the 25 level, rehabbing the underlay shaft to the 25 level and installing all associated services. Not to mention approvals required for the disposal of the associated mine water. In all an exercise well outside the scope of this company.
Please be careful investors.