STRIKING IT RICH IN THE MID WEST

摘要

Perth-based Padbury Mining has discovered that sometimes the exploration success you seek is hidden in your own backyard. AFTER A 16-YEAR search for a significant gold deposit at its Peak Hill tenements north of Meekatharra in Western Australia, Padbury finally struck it rich there in 2009 - not with gold, but with an iron ore outcrop which heralded a turning point in the junior's fortunes and its future. The initial shift in focus from gold to iron ore, coupled with an eventual corporate rebranding, was an unexpected move for the $32 million company, which first floated on the Australian Securities Exchange in 1993 as just another explorer operating in WA's historically-rich Goldfields region.