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Most bought shares to sell at quick profit, and many got that profit. Investors who
suffer most in a mining mania are those who buy late, not early. Even after the lid
had blown from the golden hole Western Australian companies were floated ...
If small gamblers had controlled a mine with such a bonanza they would have
paid the profits in dividends, played the share market, and maybe ruined the
mine. Kelly, Knox and Jamieson were big speculators and preferred to re-invest
The directors of Mount Morgan decided to raise £220,000 for a copper smelter,
and D'Arcy knew the company could not afford it. The Mount Morgan Gold Mining
Company had no reserve fund, having paid all profits to the shareholders.
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LibraryThing ReviewUser Review - nandadevi - LibraryThing
The history of mining is central to Australian history, from the gold rushes of the 1860's which brought hundreds of thousand of immigrants, to the mountain ranges of iron ore and immense natural gas ... Read full review