Is the mine really going to reopen in Mount Morgan?
5 Answers
They keep telling us it is going to re-open but then again I bought my house 5 years ago and was told "it is going to open soon". No idea if "soon" will ever come, but I like it here anyway, warts and all. :-)
Hi - don't hold your breath! Norton Gold Fields have had the lease for around 4 years now and haven't done a thing towards reworking the tailings. Take a look at their website and the info in the annual report seems to indicate they want to sell it or get a partne (for $) to go ahead....hope this helps. D
I suggest a little more research may be needed - I just took a look at the Norton Gold Fields site and see they instigated a hostile takeover bid of a company called Bullabulling. I went to their site (link below) and the Unsolicited Bid Takeover Letter of 22 April makes interesting reading.
http://www.bullabullinggold.com/investor-centre/norton-takeover-bid/
I don't think there are going to be any people making money EXCEPT Norton!
Forget Norton gold a Japanese conglomerate has now purchased the mining rights and has submitted all mining documentation to State government and environmental departments, this is the 1st time such detailed documents have been submitted and keeping in mind around 50-60% need to be local employees, the balance will be from WA and skilled already employed staff!! They need to keep things low key due to purchasing suitable accommodation for employees, and over detailed explanations can create a conflict of interest as once confirmed there will be an influx of investors purchasing property however don't expect huge increases in property prices but equal to Rockhampton prices, in otherwords the median house price will be around $200,00-$300,000!!