QMN 0.00% 16.8¢ queensland mining corporation limited

dyor, page-42

  1. hop
    627 Posts.
    Below is a copy of the email that i recieved last week,it is apparent to me after reading this email that HR has a strong belief in his board and QMC'S future and i have a certain admiration for the man in respects to 'fighting fire with fire'in his reply.This reply is not short like the other reply i recieved and has taken some time and thought.
    I was drawn to the paragraph"the board of the company is focused on delivering value to share holders,we are continuously seeking methods to improve our level of commumication and i am sure over coming months these measures will become apparent as the market recognises the inherent value that an investment in the shares of queensland mining coorperation limited represents."

    I know its only been a week or so since he wrote this but there is no time like the present and actions speak louder than words, HR has had more than 1 opportunity in the last week to take advantage of SP and volume with another timley announcement but yet again did not take it.If there has been hold ups in jorc upgrades,drilling ect we should be notified it just makes good business sense to keep the market informed,HR just doesn't get this.
    As i have stated befor we dont need to lose HR but we need someone else at the helm to take the next step,but lets not forget he and the board have secured some quality tenements.

    And lastly PLEASE if you think the board is doing a good job post your reasons and change the minds of the non supporters dont just sit there and press the thumbs down on your screen. guys like leroy pheonix rowscoe gravscan give us all quality, reason backed posts in regards to this debate.
    I hope this helps some of those who have not yet voted wichever way you vote

    hop


    Dear Mr. Hopkin,

    Thank you for your correspondence. We have taken on board your concerns
    and we will look to implement those remedies that are warranted.

    Regarding the timely and continuous disclosure that the Company has been
    making, I would like to draw your attention to the list of ASX Releases
    that we have made in the 2010 calendar year to date.(See Appendix A
    below).

    You will note that only eleven out of the thirty-seven releases made so
    far this year (and I refer to those which were exclusively of an
    informational nature) were of a statutory character - i.e. those that the
    Company was obliged to carry out under the Corporations Act and Listing
    Rules; for example Annual and Quarterly Reports etc.

    The balance of the other twenty-six ASX Releases were made in order for
    the Board of the Company to comply with its obligations under the
    requirements for continual disclosure and were lodged with the ASX in
    order to keep the market informed and up-to-date with the progress being
    achieved on the various exploration and development projects.

    It may appear that we neglected to follow-up on previously reported
    projects in subsequent reports but on closer examination it would become
    apparent that additional information is provided once it is to hand and
    becomes relevant to our stakeholders.

    As I am sure that you are aware and can understand, when a Company is
    seeking to introduce partners into a project - as we have very openly
    declared that we are doing - these proceedings and negotiations often take
    place over an extended period of time. It would be counter productive
    therefore, to provide a running commentary on the details of how these
    negotiations are progressing.

    By way of an example is the outstanding result that we achieved in
    purchasing the White Range Project from the receivers of Matrix Metals
    Limited (where we purchased those copper and cobalt resources for a
    fraction of their worth in terms of value per pound of copper equivalent
    in resources). These negotiations took place over a protracted period but
    we were only at liberty to disclose the purchase once the
    'heads-of-agreement' had been signed.

    Similarly, we are currently in situations where we have flagged to the
    market that we are seeking partners to join us in developing our various
    copper and gold projects. These discussions are ongoing, and as such, this
    is all that we are at liberty to disclose. I would draw your attention to
    the wording on page 3 of our September 2010 Quarterly Report where we kept
    our stakeholders informed of the state-of-play, by writing:

    "QMC is in serious discussions and negotiations with Joint Venture
    partners in relation to the White Range Project area and especially the
    development and production of copper, and will focus in the near term on
    the production development of gold on QMC's gold properties in our own
    right and/or with Joint Venture partners."

    The Board of the Company is focused on delivering value to shareholders,
    we are continuously seeking methods to improve our level of communication
    and I am sure that over the coming months these measures will become
    apparent as the market recognises the inherent value that an investment in
    the shares of Queensland Mining Corporation Limited represents.

    Thank you for showing such strong and loyal interest in the Company and I
    hope that this letter goes someway to addressing your concerns.



    Your Sincerely


    Howard V. Renshaw
    Managing Director


 
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