News: Conquest gives Mt Carlton go ahead

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Mineral exploration company Conquest Mining Ltd (ASX:CQT) has approved the $127 million development of its Mt Carlton gold, silver and copper project in North Queensland.

The approval comes following positive results achieved in the project's optimisation study.

The Mt Carlton project is expected to create around 150 new jobs during the construction period and 150 permanent new jobs during operations.

The project adds to Conquest's rapid progress under its new management this year.

For the year ended 30 June 2010, Conquest booked a net loss of $3.7 million dollars.