MOUNT MORGAN LTD.
INCREASE OF CAPITAL PROPOSED A ne\V era of prosperity for Mount Morgan is indicated as a result of the proposal of Mount Morgan Ltd. to increase the capital of the company. The old machinery is to be reconditioned and added to, and when complete will be capable of treating 1,000 tons a day. The increased price of gold and the added exchange have made it possible to treat ore that was previously of too low a value. The opinion is expressed that over 8,000,000 tons of ore are available. The directors, who propose to offer a new issue at par (20s) to shareholders on the basis of one new share for every four shares held, are of the opinion on the reports of exjierts, that at least 1,500,000 tons of the main ore body is amenable to treatment on a profitable basis, and they have decided to install modern grinding plant and additional flotation cells callable of treating at least 500 tons per day. There is every indication of a very long life for Mount Morgan, and the concern promises to be once again a very good paying proposition. If some of the old-time glory returns to this famous mine it will be a splendid thing for the Stale.
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Bibliographic details
Evening Star, Issue 21319, 25 January 1933, Page 5
Word Count
212MOUNT MORGAN LTD. Evening Star, Issue 21319, 25 January 1933, Page 5
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