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
QMN Price at posting:
9.1¢ Sentiment: LT Buy Disclosure: Held