Well, It’s official Ballarat is back in the gold business, It may not be in a Gold Rush, but It’s a welcome boost to a town that was once an epicentre of Australia Gold Industry and It’s all thanks to the company that bought the old Ballarat mine last year tracing the rising price of William. It’s Christian Vaness report is now reported it’s first gold bar!.
C.Vaness : Ballarat is the city build by gold and on gold. On the edge of the CVD, about 500 meters below the surface, Miners are busy drilling. (Drilling Sound)
Castlemaine Goldfields bought the Ballarat Mine last year and finally, It’s mined enough to pull the first gold bar.
Matthew Gill, Castlemaine Goldfielders : Certainly the current financial issues have been great for gold, but I think you also need some stronger economy as well.
C.Vaness : While the price of gold has slipped recently. It’s over rule strength has made outside slack Ballarat viable again. The Gold price is currently hovering around S1600 an ounce.
Dr. Sandra Close, Surbiton Associates: This is the last few year we’ve seen arising production and arising several new mine and a lot of rejuvenated old mine opening up.
C.Vaness : “Castlemaine Goldfields has jobs riding on the mine success but it’s confident, It’s future is strong.”
Matthew Gill, Castlemaine Goldfielders : Once you take away our trading cost, we should be spitting out a good profit cost around 20 or 30 million dollars a year.
C.Vaness : But these is by no mean a return gold rush of the 1850’s seen in Ballarat and Bendigo. The reopened Ballarat is relatively small and what return Victoria to it’s historic golden mental.
Dr. Sandra Close, Surbiton Associates: W.A. is the big one with 70-75% of Australia’s gold production, Victoria is down around 1 or 2% these days.
C.Vaness: But history would indicate; “where there’s gold, there’s always someone willing to try their luck.” Christian Vaness, ABC News.
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