FML 9.09% 15.0¢ focus minerals ltd

coolgardie's bad reputation

  1. 682 Posts.
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    Ever since the discovery of Kalgoorlie's Golden Mile, Coolgardie has played second fiddle to Kalgoorlie.
    About 100 years ago, a prospecting party discovered gold at Londonderry, south of Coolgardie. They dollied 8000 ounces of gold in a matter of days, then returned to Coolgardie, and registered the claim. Eight thousand ounces was worth about 32,000 pounds in those days, over $11 million today. An English syndicate purchased the Londonderry lease for some 100,000 pounds, roughly equivalent to 25,000 ounces of gold. Unfortunately for the purchasers, the sellers had already taken the lion's share of the gold, so Londonderry became an infamous disaster from an investor's stance, and a public relations nightmare. Raising capital for ventures in the Coolgardie area became very difficult, and even today, Coolgardie still suffers from this historic debacle.
    In the 100 years following Londonderry, Coolgardie has been
    sporadically worked by small companies and individuals in a fractured manner.
    Focus had the vision to amalgamate the majority of the Coolgardie area, and take an overall approach to this important gold province. Modern technology has allowed Focus to find deposits that Grand Dad didn't, often under Grand Dad's old, worked out mine. The time has come to discard the old prejudices about the Coolgardie field. Work done by Focus already proves the old timers only dug up what they tripped over, due to their limited technology.
    The internal combustion engine (AKA the infernal combustion engine, because it frightened horses) was in its infancy, so no drilling rigs, and no drilling. Geophysical science barely existed if at all, as electronic instruments, even rudimentary ones were 70+ years away, and modern microprossesor based equipment 90 years away.
    Coolgardie does not deserve its bad reputation, and as Focus advances, will do so even less.
    This post is for entertainment value and is not intended to be advice.
    DYOR
    K
 
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