Hi CQT holders.This is one of the best junior gold/silver...

Hi CQT holders.

This is one of the best junior gold/silver company i have found on the ASX in my opinion. I have entered a position at $0.31, and is keen to top up if the SP dips.

Note the announcement 20th of July 2010 "Formal Expressions of Interest Received for all Mt Carlton Concentrate Production"

- Formal Expression of Interest received from two Chinese smelter companies for total Mt Carlton production, based on new single 'mixed' concentrate specifications

- Discussions continuing with a total of six short-listed potential partners for off take and development funding

- Conquest aiming to finalise long-term off take contract within three to four months

- Chinese engagement underpinned by extensive experience and networks of Conquest management team

I am very bullish for CQT over the next 6 months. We have excellent new management on board in 2010 with the likes of Jake Klein (solid track record from Sino Gold, board member of LYC and OGC all strong performers!). In addition to my belief that Gold and Silver prices will strengthen. Take a look at the signs:

The 12 Reasons:

1) Substantial and aggressive Director buying over the last few months (inside money flows first)
2) Progressing offtake finalisation with Chinese buyers (within contact circle, management very well connected)
3) Excellent management track record in bringing positive cash flow projects online
4) Over $1.13 billion metal value in reserves with only $718m recovered in terms of In Situ Value (refer presentation May 2010) - Exploration upside
5) Excellent initial recovery grades (90-96%)
6) Excellent Concentrate Grades
7) Excellent progress with permitting, EMP, NTA, mining license
8) One of the lowest market capitalisations in contrast to EV/Resource oz in comparison to peers
9) Cash at bank of AUD 58m (current MC of $107.7m: 353.2m shares x $0.305)
10) Resource base: 27.6Mt containing 1.5M oz Gold, 40m Oz Silver, 75kt Copper
11) Reserves base: 7.4Mt containing 0.74 oz Gold, 16m oz Silver and 30kt Copper
12) Potential takeover of NQM; i assume is highly desired by management to add infrastructure, increase resource base and potentially icing on the cake for hovering Chinese interest

This game is about patience. SP is trading in a range at present. Could be a fair wait, but i believe this will be worth the wait with project go ahead decision expected by this year back by strong Chinese interest.

All the best to all holders!

LM