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08:51
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Originally posted by aurifice
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None of you, and I mean none of you, have any idea as to what it takes to make a success of a narrow vein mine located in the Victorian high country. The Morning Star mine is a jewel and the riches lie at depth - below the lowest workings. There are small pickings in the upper levels and they will at best pay wages but NEVER a dividend. It will only ever be an airleg operation as the shoots are narrow and the ore needs to be hand picked. In the upper levels the ore bodies are fairly flat laying and mining is expensive - scraping, hydraulic extraction etc = double and triple handling. Up the road the A1 has the ability to mine breccia or stockwork zones but they have yet to be proven to be able to pay their way. It is a dissimilar ore body.
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"Be realistic. Over the life of the mine the average annual production was only around 8,500 ounces. Do you honestly believe that they can sustain an annual production of the magnitude to sustain a company the size of Austar?"
