how far are they from cudeco?, page-31

Hi Freehold,

Many major differences between the two companies. QMN need to start ticking some of the boxes below ;

CuDeco is building a world-class copper mine…

Only 188.4m shares on issue

$130m cash at hand (18-6-12) - No Debt

Owns own mining fleet 100% -mostly purchased during GFC
(including 20 dump trucks and 7 excavators)

Mining Leases granted

$30m already paid towards 3mtpa plant
(balance of $20m remaining)

Secured Rail-load Facility in Cloncurry
(currently under development - access to national markets secured)

Secured Ship-loading Facility at Port of Townsville
(currently under development - access to international markets secured)

Significant resource inventory based on over 340,000m of drilling - discovery costs ~ 1.5c/lb

30.3mt @ 1.7% CuEq (0.8% cut-off) Measured and Indicated

97.9mt @ 0.96% CuEq (0.4% cut-off) Measured and Indicated

272.9mt @ 0.62% CuEq (0.2% cut-off) Measured, Indicated & Inferred

Mineralisation commences from surface

High-grade supergene zone (native copper and chalcocite) - accessed in initial years

Off-take agreement in place based on 100% of LME copper prices less 4% commission

Admitted to ASX 200 (ASX:CDU)