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QMines Ltd. ( (AU:QML) ) has provided an announcement.
QMines Limited has completed the acquisition of the Mt Mackenzie Gold and Silver Project from Resources & Energy Group Ltd, enhancing its copper-gold portfolio. This acquisition, valued at $2.485 million, strengthens QMines’ resource base and positions it as a key player in the region with three advanced-stage projects. The acquisition also brings Resources & Energy Group as a substantial shareholder, holding approximately 7% of QMines’ issued share capital. QMines plans to commence a maiden drilling program at the Mt Mackenzie site, aiming to increase production scale and extend mine life.
More about QMines Ltd.
QMines Limited is an Australian company operating in the mining industry, primarily focusing on copper and gold projects. The company is positioned as a leading copper-gold developer on the ASX with a strategic hub-and-spoke development strategy in Central Queensland.
YTD Price Performance: -22.22%
Average Trading Volume: 797,318
Technical Sentiment Signal: Sell
Current Market Cap: A$18.13M
For an in-depth examination of QML stock, go to TipRanks’ Overview page.