QMines
Financials:
Primary ticker: ASX:QML
Stage of development: Exploration, Development
Primary minerals: Copper, Gold
Project to promote: Mt Chalmers Mine
Project location: Queensland, Australia
Website: www.qmines.com.au
QMines Limited (ASX:QML) is an Australian based copper and gold exploration and development company. The Company’s flagship project, Mt Chalmers, is located near Rockhampton in Queensland.
Mt Chalmers (100%) is a high-grade historic mine that produced 1.2Mt @ 3.6g/t Au, 2.0% Cu and 19g/t Ag between 1898-1982. Mt Chalmers has a Measured, Indicated and Inferred Resource of 11.86Mt @ 1.22% CuEq for 144,700t CuEq.
QMines recently executed an agreement to acquire 100% of the high-grade Develin Creek copper-zinc project which lies approximately 90km Northwest of Mt Chalmers. Develin Creek has an Indicated and Inferred resource of 4.9Mt @ 1.97% CuEq for 87,200t CuEq.
The combination of the two projects creates sufficient scale to commence a Pre-Feasibility Study assessing the potential for a stand-alone mining operation. Whilst compiling the PFS, due 1H-2024, the Company is continuing an aggressive exploration program providing shareholders with significant leverage to a growing Resource and exploration success.
Cash: AUD$3M
Debt: NIL
Major shareholders:
Turkey Investments Pty Ltd – 14.2%
2Sausos Pty Ltd – 5.0%
McNeil Nominees Pty Limited – 4.8%
HSBC Custody Nominees (Australia) Limited – 3.7%
Hendo Family Superannuation Pty Ltd – 2.5%
Management Ownership – 20.9%
Management Profile
Mr Andrew Sparke – Managing Director
– Former Director of Alt Resources Ltd (ASX:ARS), Torian Resources Ltd (ASX:TNR) and Landstead Investors Pty Ltd, a UK based resources fund.
– Managing Director of Olive Capital, an Australian based boutique corporate advisory firm.
– Holds a Bachelor of Business (Marketing) a Masters in Finance and is a graduate member of the Australian Institute of Company Directors (GAICD)
What is your rationale for taking part in 121 Mining Investment?
Increasing investor awareness of QMines Limited (ASX:QML) and outlining its near term pricing catalysts.
What recent news would you like to highlight to investors attending?
– Acquisition of high-grade Develin Creek copper project generates significant scale;
– Identification of 34 electromagnetic anomalies demonstrates exploration potential;
– Discovery at Artillery Road anomaly with intersection of Semi-Massive Sulphides; and
– Further high-grade drilling results at Mt Chalmers includes 67m @ 2.31% CuEq from 45m.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
– Drilling results from Artillery Road discovery
– Commence drilling at Screamer
– Maiden Resource at Develin Creek
– Commence RC and diamond drilling at Develin Creek
6 Months:
– Drilling results from Develin Creek
– Metallurgical testwork at Develin Creek
– Drilling results from Screamer anomaly
– Delivery of a Pre-Feasibility Study
12 Months:
– Further drilling results testing new targets
– Commencement of a Bankable Feasibility Study
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Raising further capital at attractive prices to continue our exploration and development initiatives.
What do you think makes your company such a compelling investment?
1. Mount Chalmers is one of very few high-grade open pitable copper resources that is close to the coast and infrastructure;
2. QMines is one of the most active copper and gold explorers on the ASX with a significant drill program underway;
3. QMines is Australia’s first zero carbon copper and gold developer; and
4. The Company is executing its business plan with haste, with four resource upgrades delivered in 24 months of listing.
What are the top 3 key investor takeaways?
– Multiple near term pricing catalysts
– Scarcity of quality brownfields copper developers
– High-grade historic producer