Ann: High Grade Cu Au Intersection at Greenmount , page-23

re: Ann: High Grade Cu Au Intersection at Gre... Thanks Banoos and Ozzycash here's some more info on EXS's Cloncurry Copper Project and QMNs White Range


EXS sold their Cloncurry Copper Project to Xstrata for $175m
It ad a JORC of 8.05Mt @ 1.62% Cu & 0.49g/t Au containing 113,000t copper and 127,500oz gold.


QMNs White Range JORC stands at 30.7Mts @ 0.8% Cu & 0.17g/t Au + 0.04% Co containing 231,000ts Copper and 167,000oz Gold and 24M lbs Cobalt

There are three important things to note
1. This JORC is 8years old from 2005 and doesn't Include any of the high grade Copper finds QMN have had

2. Greenmount looks to have the bulk of the high grade ore and it alone is shaping up like EXSs CCP

3. The project contains significant amounts of Cobalt which is worth 5x that of Copper

You do the maths but if Xstrata paid EXS $175m for their CCP what is QMNs White Range worth specifically Greenmount which is getting the high grade hits

$175m = 22c a share

Do some research on the EXS sale off CCP to Xstrata
http://www.proactiveinvestors.com.au/companies/news/15664/exco-resources-sells-cloncurry-copper-project-for-175-million-to-xstrata-15664.html

http://www.proactiveinvestors.com.au/companies/news/17031/exco-resources-shareholders-approve-cloncurry-copper-project-sale-to-xstrata-17031.html



QMNs old 2005 JORC

As I've said it's all about location location location and Greenmount is less than 10kms away from EXS's old CCP Xstrata would do well to gobble this deposit up to ensure feeder ore for their North Qld operations