Silver City mine draws on SA links

18 December 2010

BROKEN Hill Prospecting will draw on historic links with Adelaide as it tries to revitalise industry around the town.

The company will be based in Adelaide,” director Geoff Hill said. “We are looking around now for an office. The technical competence and experience are available in Adelaide.” Broken Hill Prospecting is seeking to raise $5 million in an initial public offer with shares at 20c each. “It’s a two-way street. From Broken Hill’s perspective, people are on SA’s time zone. They feel much closer to SA. Their education comes from SA. Their emergencies go to Adelaide not to Sydney,” Mr Hill said. “There’s a lot of wealth that’s been transferred from Broken Hill to SA. And SA has been a supporter of mining and exploration in Broken Hill. ” Broken Hill Prospecting already has begun exploration funded by a pre-IPO share issue this year.

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