Needmoney IMO I think there is allot of potential here but the problem here is that management doesn't look like they want to do anything to promote this stock...I will take a position when I see allot more interest in this and when certain projects get a move on...
I have included the history of QUR, if you wanted to know...
1987
Quantum Resources Limited ("Quantum") was incorporated as Helm Resources Limited and listed on Australian Stock Exchange Limited in 1987. At that time it held strategic interests in Mt Carrington Mines Limited and Ando Minerals NL. On 17 December 1987 the Company changed its name to Quantum Resources Limited.
1988
On 26 August 1988, Quantum made a Part A takeover for all of the issued shares of Johnson's Well Mining NL ("Johnson's Well"). As a result of the takeover offer, Quantum held 54.9 percent of the issued shares of Johnson's Well.
1991-1996
During 1991/1992 the Company's subsidiary, Johnson's Well issued shares and the Company did not participate in the share issue. As a result, the Company diluted its interest in Johnson's Well to 49 percent. During 1995, the Company sold its interest in Mt Carrington Mines Limited and these funds were used to retire debt. During 1995/1996, Johnson's Well issued further shares which diluted the Company's interest to 43 percent.
1996
In November 1996, the Company took a decision to undertake exploration for diamonds in China. The Hon R J Hawke AC joined the Board of Quantum to assist with the entry into China. A capital raising of $18 million was completed in December 1996 which provided working capital for exploration purposes and allowed the Company to retire its remaining debt.
Quantum entered into a joint venture with Astro Mining NL to conduct the activities in China, known as the Quantum-Astro Joint Venture ("QAJV"), and Quantum held a 72.9 percent interest in the QAJV.
The QAJV commenced diamond exploration in the Xinjiang Autonomous Region of Western China in December 1996. Its activities commenced in Liaoning Province which was a highly prospective diamond bearing region then expanded into Shandong, Jiangsu and Anhui Provinces.
Quantum also signed an agreement with the Bureau of Geology and Mineral Resources ("BGMR") of the Hunan Province, which granted the Company the right to enter into a joint venture with the BGMR of Hunan. Following a due diligence period the QAJV withdrew from this agreement.
1997-1999
During 1997/1998, the QAJV continued to explore for new diamondiferous diamond pipes in China. Small new diamond-bearing kimberlite occurrences were found in Liaoning and exploration results in Shandong confirmed the good prospectivity for the discovery of new diamondiferous kimberlites. In 1999, the QAJV entered into an arrangement over the province of Inner Mongolia held by the BGMR.
2000
During 2000, the QAJV's diamond exploration activities in China were critically reviewed on a technical basis and the decision was made to surrender interests in a number of these projects in order to focus on other opportunities in Australia.
As part of Quantum's ongoing search for new exploration opportunities, Quantum entered into two new projects following its withdrawal from its diamond exploration in China, namely:
King George Project
A joint venture with BHP Minerals Pty Ltd ("BHPM") over BHPM's King George Prospect in the Spencer Gulf of South Australia in search of an Olympic Dam style copper-gold deposit.
Torrington Topaz Project
Quantum purchased Topalite Resources Pty Ltd ("Topalite") from Autogen Limited. Topalite holds the Torrington Topaz Project and plans to become a leader in the manufacture of hi-tech strengthening materials for the ceramics industry utilising its innovative processing technology.
2001
In January 2001, the Company announced their Mining Royalties Business Model, a new opportunity in minerals exploration whereby the Company plans to build a portfolio of minerals tenements with the view to generating returns through a royalty structure or farm-out opportunities.
In June 2001, the Company and BHPM relinquished the tenements covering the King George prospect as exploration results did not warrant further work.
2002
As part of the Mining Royalty Business, the Company continued to make application for tenements throughout Australia and concluded a number of deals with other mining exploration companies for either a cash consideration or by farming out tenements and retaining a free carried interest.
A prospectus was issued to raise capital for exploration, working capital and to retire debt, and raised a net $492,000.
2003
In August 2003, Quantum entered onto a farm-in agreement to earn an 80% interest in tenements at Whiteheads, near Kalgoorlie in Western Australia. Quantum is to spend $1.2 million over 4 years to earn an 80% interest.
Throughout 2003 and 2004, Quantum consolidated landholdings into several key projects including Whiteheads (where drilling commenced in September 2003), St Ives, Jackson in Western Australia and the Tanami in the Northern Territory. Other tenement holdings were offered to third parties under joint venture or royalty arrangements.
2004
In the December 2004 quarter, Quantum acquired a further 15,000 square kilometres of tenement holdings in the Tanami in a joint venture arrangement where Quantum is earning an 80% interest.
2005
In March 2005 the Company placed 19,700,000 ordinary shares at an issue price of 2.5 cents each to raise funds for working capital.
Exploration continued on its gold projects during 2005 and work continued to obtain native title clearance to enable access to landholdings in the Northern Territory.
2006
During 2006, further reviews of the Company tenement holdings identified Gardner Range in Western Australia and Ware Range, Mt Peake, Barrow Creek and Tanami projects as prospective for base metals, uranium and gold.
Further drilling was undertaken on the Whiteheads gold project.
A further capital raising of $1.6 million was undertaken to fund exploration and for working capital purposes.
2007
Exploration drilling plans were prepared covering a number of the base metal, uranium and gold prospects and Mine Management Plans were approved by the Department of Primary Industries, Fisheries and Mines in the Northern Territory for the drilling. Heritage surveys are being undertaken to allow the commencement of drilling.
Have a great new years...
QUR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
(20min delay)