joint venture maybe?

Queensland Mining Corporation (ASX: QMH) has completed the settlement of the acquisition of the White Range Project for a total consideration of $5m comprising cash of $2.5m and 25,000,000 shares.

White Range has a total JORC compliant resource inventory of 202,000 tonnes of copper, 19 Million pounds of cobalt and 168,000 ounces of gold.

QMH is in advanced discussions with two separate parties to commercialize various opportunities within the White Range Project.

At Kuridala, QMH is looking into a 50/50 Joint Venture with a specialist copper sulphate processing group who would contribute their proprietary knowledge as well as a fully commissioned plant and required mining equipment and infrastructure to support the processing operations to the JV.

This would have the advantage of potential near term cash flow within 12 18 months.

QMH is also considering contributing a substantial part all of its White Range assets which may include its interest in Kuridala into a Joint Venture with a mining company with interests already in the Cloncurry District to create a very significant copper processing operation.

The final settlement of the acquisition now accelerates the opportunity to finalize either or both of the above proposals.

One company that has an advanced copper project in the district is Exco Resources' (ASX: EXS) Cloncurry Copper Project in NW Queensland.