why cr or jv?, page-4

Hi mumstheword,very good questions.I will give a version of my own thoughts.

In the early days,before White Range,it was always the plan to start up Mt Norma,Mt Freda and make money from the various gold leases QMC own,Flamingo(JORC'd),Gilded Rose etc.This would then also fund exploration at the Copper leases, Morris Creek etc.A lot were disappointed this didn't happen in the first year on the ASX,very disappointed.

BUT

Now things have changed a hell of a lot,in ways to numerous to mention but White Range (JORC'd) has given Howard the opportunity to bring in a JV partner with mining expertise to take us into production,"quickly".The gold leases etc?Well whatever happens there,JV,off take agreement etc will be icing on the cake,or who knows another cake :) The gold leases will be just as big,done correctly.

There are to many permutations for us to try and consider but i do know a JV with a quality partner and we are $1+ before the end of the year on White Range alone,of that i am confident.

I think mining WR in our own right may have been fraught with danger.Sure we would have got a 100% of the pie but it would have taken longer for sure.I will be more than happy when the Joint Venture gets QMC to the $1+ i have been talking about.Remember were only talking WR at this moment.I'm not greedy,i just want to get there quicker and the JV is going to do this.

When i spoke to Howard,he told me that he is not the one man show many people think he is,far from it.I am confident negotiations are progressing well and in the best interests of QMC and her investors.Like i said in December 2011 will be a ripper.

Then we still have the IOCGs
Morris Creek
Jessievale
Black Fort.