Expiry date is 30 Nov 2008 with a strike of 35c.
So that's about 8 months or by my quick calc 260 days to go. A lot can happen in that timeframe?
What COULD happen in the interim?
In approximate chronological order and based on my opinion ONLY:
1. Mt Cannindah resource upgrade - by the end of March (and a great time to be in copper, gold and silver);
2. Capital raising - private placement or rights issue - pre June 30;
3. Wolfram Camp completed ON TIME and BUDGET and first ore processed and shipped;
4. Step our drilling at Wolfram Camp expands mine life by several years.....this seems a no brainer.
5. Decision to increase mine throughput;
6. High dollar value JV on Mt Cannindah - a mid cap steps in to finance rapid development and a deep drilling program at MC and on regional targets....my opinion (and wish) only!
7. Mt Bamford exploration.
Also, let's not forget the CITIC Off take agreement - 1 year plus a 3 year option (at QOL's option)......
My guess come November 30 - the options will be well in the money - and yes i hold options!!
What are your thoughts?
QOL
queensland ores limited
