This new company made use of a shaft sunk in 1873, which had been abandoned because the heading driven out from that shaft had struck a fault. The Point of Ayr Colliery Company decided to strike out in another direction, where they struck a seam in 1890. The original shaft, of 100 yards (91 m), was deepened to 215 yards (197 m), and a second shaft was sunk to the same depth - these became known as No. 1 and No. 2 shafts respectively.
According to contemporary figures from the Inspector of Mines, by 1896 356 men were employed by the company, which produced coal for domestic and industrial applications.
The British coal industry was nationalised in 1947.