The old Woods Point goldfield was one of the most significant in Australia’s history. Source http://www.woodspoint.com.au/morning-star
The present owner of the mine and 220 sq kilometres of surrounding tenements is ASX-listed Morning Star Gold. Its vision is to develop the 100% owned Woods Point Gold Project into one of Australia’s highest grade, lowest-cost gold production projects.
The old Woods Point goldfield was one of the most significant in Australia’s history. It extended from Jamieson in the north to Walhalla in the south. After more than 100 years of mining its gold yield totalled 155 tonnes – or more than 5 million ounces. Twenty percent of this was produced by the Morning Star mine between 1861 and 1963. It was at one point Australia’s premier gold mine.
From the late 1920s, the mine was managed by Western Mining Corporation subsidiary Gold Mines of Australia until its closure in 1963 as a result of high power costs and the price of gold at a low $35 per ounce.
The prospect of high grade gold following the 5 million ounces produced since the 1890s and the price of gold north of $1,000 per ounce is driving much interest in Morning Star Gold’s activities and the prospect of new life for the town and community of Woods Point
MCO Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
