no stock why post, page-18

Beany72,

Like Aka I was interested in investing in QMN because of Morris Creek but lost interest when CDU exited and Wayne McCrae did likewise at 13 cents.

At the time CDU was the largest shareholder in QMN. Both CDU and Wayne McCrae lost on selling out. There was nothing wrong with the quality of QMN'S holdings. Wayne McCrae and CDU had previously held some of it anyway so knew its value.

Their selling could have occured at higher levels than the 13 cents.

As I have said before, there is nothing wrong with the quality of QMN'S ground but the quality of management would appear to be the issue on which CDU and McCrae exited.

I think Morris Creek would be of interest to CDU if it became available as it would consolidate CDU'S new holding to the west with Rocklands and, even if it were barren ground, would be of use as a spoil dumping area.

One of the problems alluded to by AKA is the dilution which occurs when trying to raise funds when the share price is so low.

When CDU was Aum ,it overcame this by consolidating on a 1 for 10 basis. Mind you to raise capital you still have to convince investors that the company has the goods and is well managed so as to deliver.

I would like nothing better than for QMN to succeed not only for shareholsers of QMN but as another user of the rail and port infrastructure to be built by CDU in which I am a shareholder.

On the question of why there is no copper sulphate production coming of MtNorma it may well be the high Aussie dollar is making it uncompetitive with the imported product. Qmn did announce a good find of copper oxide ore in close proximity to the plant so that is not an issue.