A mate of mines father was head Geo at Mt Morgan from 1976 to around 1984. At one stage after that he was left to basicly look after the place as a manager, more to do with enviromental issues I gather and has consulted to other companys over the years until recently. I had a bit of a chat with him the other night about the place and from what he told me there there is still gold in the old tailings but it is fine and the tailings need to be ground fine to extract it. He did mention figures but I didn't write any of it down and can't really remember it accuralely to post it. But it does cost a lot of money to grind rock fine.
There have been a few mobs have a go at different parts of the tailings etc since it closed, but there should be more than enough reliable info about what is or should be there and how much it's worth. In saying that Ian McCauley and J R aren't wealthy because they make a lot of mistakes so you could follow some smart money there if game. They are both well respected in Central Queensland mining industry as being quite on the ball although possibly more in coal, but they would know if they were being feed bull and who's opion to ask in the first place.
This probably doesn't tell you much that you don't already know Cheers
NGF Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
