Mt Norma and they have a processing plant there.As you can see the goal posts have been changing from day one,still no production there.Google Mt Norma for more info Charlie. :(
QMC focus to increase cash flow from Mt Norma facility
QMN listed on the day of the big crash,good form lol
3/10/2008 - Copper and gold miner Queensland Mining Corporation Ltd (QMC) has made a dismal debut on the Australian stock exchange.
The Sydney-headquartered company was the worst performer on the bourse on Thursday.
Its shares plunged 79 per cent in the first hour of trade before finally closing 30 cents, or 60 per cent, weaker at 20 cents.
It opened at 12 cents and reached a high of 21.5 cents in intraday trade.
QMC's initial public offer (IPO) of 30 million shares at 50 cents each sought to raise $15 million, with the ability to raise an additional $5 million in oversubscriptions.
It fell well short of its target, raising $3.3 million through the IPO but about $20 million was raised through private investors prior to the offer.
Managing director Howard Renshaw said this had been achieved despite volatile equity markets.
The company's key projects are in the world-class Mount Isa/Cloncurry copper province.
"QMC's immediate focus is to increase cash flow from the Mt Norma production facilities," Renshaw said.
"We will also recommence engineering/economic studies at Mt Norma copper mine, Mt Freda gold mine and the stand alone Young Australian copper mine."
The company has flagged it will pursue corporate opportunities and mining lease acquisitions.
CDU Price at posting:
$3.42 Sentiment: Buy Disclosure: Not Held
