Mining in Australia and New Zealand
In 1882 he became a partner, with Walter Russell Hall and Thomas Skarratt Hall, in a syndicate with Thomas, Frederick and Edwin Morgan when they opened a mine on Ironstone Mountain (later renamed Mount Morgan), 24 miles (39 km) south of Rockhampton. There was a significant deposit at Mt Morgan. In October 1886, the syndicate became the Mount Morgan Gold Mining Company, with D'Arcy a director and the largest shareholder. He held 125,000 shares in his own name and 233,000 in trust. At one stage the shares reached £17/1s/- each, making them worth more than £6 million (an amount equivalent to £496 million in present day terms). The company also worked a rich gold mine at Matakanui, Central Otago, New Zealand, through its subsidiary the Mount Morgan Sluicing Company.
Read more about this topic: William Knox D'Arcy
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