Take Victoria for example. By this time it had been through its boom days, its times of rags to riches stories and settled into a long term productive pattern of goldfields development where investment supported communities and held out the prospect of the mining’s long term development.
In the process they had become a centre of excellence for research into gold recovery techniques whereby they could operate profitably on lower grade ores than NSW could at that time.
Nearly 20 years on from the first gold discoveries, the evidence was in that speculation and investor frenzy were no friends of the long term development of a regions’ mining industry.
Hence – what does NSW manage to do just at the point at which it’s gold industry is starting to prosper? Sadly yes – come up with the speculation and investor frenzy to beat them all – the golden treasure chest that was Hawkins Hill, Hill End.