Aug 15 (Reuters) - Queensland Mining Corporation Ltd (QMN) :...

Aug 15 (Reuters) - Queensland Mining Corporation Ltd (QMN) :

• Option agreement to spin off gold assets - amended (QMN)
• Has entered into an option agreement with ausmex mining pty limited
• Queensland mining corporation -agreement with the view to develop non-core gold assets into a production operation in the near future
• Queensland mining corporation - $1 million cash to be paid to qmc upon the production of 1,000 ounces of gold to reduce qmc to 20% of the joint venture
• Ausmex will fund 100% of holding, development, production and exploration costs associated with the venture