The company has potential that is for sure1. Kuridala-HampdenThe...

The company has potential that is for sure

1. Kuridala-Hampden
The matrix mining lease only covers the top 100meters, below that is IVA EPM.
My view: This creates implications for both parties seeking to extract copper, since technicalities will prevent IVA or QMN from fully exploiting the resource from the tenement. More implication for IVA since QMN owns the top 100meters, so best outcome is for IVA to form joint venture or come to agreement.

2. Young Australian
The deposit runs into/adjoins into neighbour IVA EPM.
My view: Again the situation is similar to kuridala, in this case it is in both parties best interest to form joint venture or agreement.

3. QMN Cash position
Even by most conservative estimates, at current rate of spending the company should need funding before the financial year ends.
My view: Hopefully joint venture bring in some cash, otherwise cap raising is inevitable.

4. Overall white range project
My view: Comparisons can be made to rocklands, the scale in tonnage is about half, but the majority of white range project (greenmount+kuridala) has similar if not superior grades (main difference in gold grade). So if Cudeco can make a viable project, it gives the white range project greater confidence.
The project overall is also similar to lady annie (sold for $135m AUD), as stated in presentation.

5. White range project feasibility study
The feasibility study was completed in 2005, despite risen costs and appreciating AUD, in AUD the copper price has close to doubled the then $1.4 USD/lb value.
My view: The feasibility study should be updated, to reflect on current conditions and allow prospective parties a better idea.

6. Majority of original QMN project requires feasibility study
My view: get on with it can get some studies done, grab a point of focus and bring in cashflow, instead of chasing after everything.

7. Gold asset is negligiable with current exploration results
My view: the company should focus on the copper side, the gold asset is not deserving of the little company funds left.

8. Location
My view: Great tenements, it is cloncurry afterall.

9. Joint venture agreements
My view: this has being an ongoing theme since early 2010, I don't believe the hype of HC, I am taking the I will believe it when I see it approach.

10. Current price 10c
My view: My average is about 13c, the price is unfortunate for IPO/earlier holders. But I am confident I can recover a majority of my money if the company was liquidated at this point (70c+ in dollar), so the downside risk is relatively less than the upside reward. Company has no debt and acquired white range on the cheap $5m AUD.

11. Seemingly incompetent management
My view: What can I say, they don't have alot of people working at the company, so I am not sure if the company is understaffed or has incompetent staff. But you get what you pay for, the price is about right for these lot. They are not complete idiots, afterall they did buy white range for $5m AUD.

I probably missed points here and there, I was writing this partly for myself on the go. DYOR, since my personal view is that a potential 30% loss is acceptable for the risks involved.