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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	MCO
Latest Price:	0.12 (0.00%)
52-week High:	0.38
52-week Low:	0.11
Market Cap:	32.70M

1 year chart

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Morning Star Gold

Morning Star Gold (ASX: MCO) is a gold producer with extensive mining and exploration tenements in Australia's 3rd ranked hard rock historic goldfield (by production), which lies 120kms northeast of Melbourne.

Morning Star Gold has rebuilt its 100% owned namesake 'Morning Star Goldmine' targeting 2011 gold production.

Morning Star Gold appoints Mike Botting as chief executive officer

Thursday, June 16, 2011

Morning Star Gold (ASX: MCO) has appointed Mike Botting as chief executive officer effective 4th July 2011, and Noel Laidlaw will join the board as non-executive director.

The new appointments position the company for growth in its vital gold production phase. Jeff Williams has resigned as non-executive director effective 30th June 2011.

Production recommenced at the Morning Star Goldmine in the March 2011 quarter for the first time in nearly 50 years and the company expects the rate of production to increase over 2011-12.

Botting is a mining engineer with a 25 year track record and is already familiar with Morning Star's projects in his role as a consultant over recent months.

His extensive experience with WMC Resources, Bendigo Mining (PINK: BGOMF) and BHP Billiton (ASX: BHP) amongst others stands him in good stead for the challenges ahead at Morning Star's current suite of projects.

Noel Laidlaw is a mining engineer and was State Mining Warden for nine years until recently. His expertise will assist Morning Star as the company builds its gold production in eastern Victoria.

Morning Star is 100% owner and manager of the Woods Point Gold Project, based around the Morning Star Goldmine, in Victoria’s historic eastern goldfields.

The company’s five granted mining and exploration tenements (3 MINs and 2 ELs) are adjoining over 200 square kilometres and yielded two million ounces (oz) of gold historically from various high-grade mines.

Nearly half of this production was sourced from the Morning Star mine (about one million tonnes mined at average grades approaching 1oz/tonne) for a recorded production of 883,000ozs of gold.

The Morning Star mine also carries an in situ gold resource, estimated in 2008 at 910,000ozs.

Key current targets for new exploration and development include the Wallaby, Loch Fyne, Rose of Denmark, Hunts, Waverly, Little Comet, Reliance & All Nations mines. These mines historically produced about 500,000 ounces of gold at grades between 10-30 grams per tonne.

Morning Star's Chinese partner, who is a large publicly listed Chinese conglomerate, has agreed to spend A$4.5 million over 2011-12 to farm-in to 51% of two of Morning Star's regional licences.

The Morning Star Goldmine and various other priority production targets are 100% owned by Morning Star, separate to the joint venture.

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