Morning Star Gold (MCO)

Shares / Stock Code

MCO

Stock Exchange / Sharemarket

Australian Securities Exchange

Morning Star Gold (MCO) is exploring the prodigious Morning Star Au Mine within its Woods Point Gold Project, located 120km ENE of Melbourne. Woods Point and the nearby Walhalla mining field are two of the most significant gold fields in Australia. Over 5Moz were extracted from mines in these fields at a grade believed to be nearly 1oz/t. Morning Star has been dewatered and refurbished in readiness for trial mining. Mining licences cover over 220sqkm of highly prospective Woods Point Dyke Swarm.

The company has built an extensive ground position of 220sqkm over a highly prospective goldfield. There is excellent potential to increase shareholder value from new discoveries. The Morning Star mine is around 940m deep and has been dewatered and completely refurbished to 310m below surface. Intervening Levels have been mapped and re-sampled using reconnaissance and channel sampling.The company listed on ASX on 16 February, 1989.

MCO's exploration areas and Morning Star mine are located within the Woods Point goldfield, which yielded 2M ozs Au. This project is 100% owned by MCO. High-grade intersections were obtained in an extensive program of channel sampling over 2007, with over 250 samples averaging 78g/t Au. Regional tenements proximal to Woods Point have many exploration targets with historical high-grade gold production from shallow workings. Management has narrow vein mining experience and own over 40% of stock.

Morning Star Gold's major customers would include the retail, wholesale and international markets. Its competitors consist of other mining companies such as Takoradi Limited (TKG). Concentrates from the mining industry are generally sold to smelters in the main markets of Asia, Europe and North America. For metals, sales agreements tend to be short term and therefore subject to price fluctuations according to global price trends.

Morning Star Gold (MCO) Products and Services

  • An Australian gold explorer and developer, focused solely in the Woods Point gold province, Eastern Victoria, Australia.

Morning Star Gold (MCO) Locations and Subsidiaries

Morning Star Gold Head Office
Level 6, 350 Kent Street, SYDNEY, NSW,
AUSTRALIA, 2000
Phone: (02) 9291 3888
Fax: (02) 9291 3899

Morning Star Gold (MCO) Share Price

Submitted by ASX Listed Company on 13 May, 2010 - 23:39

Download our FREE App


Signup for Free
Don't miss out on your free share trading articles.


Free Risk Money Management Calculator for those who sign up!