Macpherson's at the time were developing their large Silver and Zinc project (Nimbus Project) and larger gold project (Bora Project) that were closer to existing infrastructure and at time when the silver price was substantially higher than what it is today.
My view is they didn't have enough capital to inject into Coolgardie while concentrating on developing other projects, hence why its sat there for so long underdeveloped.
Ann: Trading Halt, page-68
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