A 40-yard-wide "sea wall" built to keep the Indian Ocean out of the pit collapsed, with water quickly filling the mine, where a deposit of iron ore was being extracted from below sea level. At the height of the 2007 mining boom, Mount Gibson was a star on the Australian market, soaring to a price of $2.60 per share. When the global financial crisis hit in 2008, and after a dispute with Chinese steel-mill customers over iron ore deliveries, the company's share price collapsed to 18 cents. Fortunately Mount Gibson was sitting on a modest cash pile when the mine closed, and it has since received an insurance payout, with more expected from a loss-of-business policy. No pay dirt is going to bring back that 6th-hole fairway, alas.

Source: Forbes April 05, 2017 21:45 UTC