QMN 0.00% 16.8¢ queensland mining corporation limited

I recently attended a presentation by Brian Rear for Millennium...

  1. 1,297 Posts.
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    I recently attended a presentation by Brian Rear for Millennium Minerals and got the impression that the man was well able to arrange financing, being a strength of his. If I may impart some notes I took, and I'm not totally au fait with the implications. If they provide additional dimension to a profile/potential, tant mieux...good!

    He recently completed a $23m Rights Issue with no re-pricing

    MOY has a debt facility 50/50 BNP/NAB

    1.24m oz Au with 567oz Reserve banked

    Telstra 3G is covering the leases

    Golden Eagle has 749K oz

    $35m facility, hedging too

    3 years of Tax losses ($60m) c/f

    ROE 32%

    2 mills, bigger one on order at the same price

    cash costs 50%

    mid-cost to peers (IGR, FML, Catlapa etc)

    EV low cost in peer review

    in production 2Q 2012 100K oz pa

    knows how to increase reserve to achieve that goal

    can build now, all Native Titles done

    $10m leasing finance facility for equipment

    then need about $15m.

    Just my fast notes.
 
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Currently unlisted public company.

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