MCO 0.00% 11.0¢ morning star gold n.l.

brief history of morning star mine

  1. 1,860 Posts.
    1930 some work done on north end of dyke
    1932 New Morning Star Company formed
    1934 Gold Mines of Australia becomes involved - exploratory drilling
    1934 new company formed - Morning Star (GMA) Mines NL
    1935 mining start-up
    1935 to 1939 refurbished plant, powerhouse built, dewatering, steam power, mercury amalgamation tables
    1938 all underground workings "mapped" - 150 employees on site
    note: drilling was pneumatic jackhammer or bar mounted drill heads, explosives was ammonium nitrate and 60% gelignite
    c1939 exploratory deep drilling down to 1000 feet - discovered AchillesFloor - mainshaft to 11 level
    1939 bushfires destroyed nearly all infrastructure
    1939 operations resumed September
    1940s plenty of shaft sinking - additional crushing capacity
    1946 bushfires again - power, winder and boiler houses destroyed
    1946 shaft down to 1,600 feet - electricity by motor-generator
    1949 leading producer in Victoria
    1950s labour shortages - work force of 16 - pegged price of gold
    1953 connection to electricity grid
    1954 costs escalating while gold price pegged - shafts down to 19 level
    1950s averaging about 12,000 ounces per year
    1959 government subsidisation of the mine
    1959 mining operations ceased
    c1960 Gold Mines of Australia quit - Grant and Falk become legal managers
    1960 to 1963 capital raisings to cover borrowings - some mining and exploration
    1963 deputations to Bolte government for financial assistance - rejected
    1963 mine closed
 
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Currently unlisted public company.

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