QMines Issues New Shares as Mt Mackenzie Drilling Progresses and Corporate Talks Begin

The latest announcement is out from QMines Ltd. ( (AU:QML) ).

QMines Limited has issued 9,090,909 fully paid ordinary shares under provisions of the Corporations Act that allow on-sale of securities without a prospectus, confirming its ongoing compliance with Australian corporate reporting and disclosure requirements and indicating there is no undisclosed price-sensitive information associated with the issue. The company reported that exploration and diamond drilling at its Mt Mackenzie project is continuing, with partial assay results to be released once quality control and data validation are complete, and disclosed that it is in early, non-binding discussions regarding a potential corporate transaction, which could influence its strategic direction though there is no certainty any deal will proceed.

The most recent analyst rating on (AU:QML) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on QMines Ltd. stock, see the AU:QML Stock Forecast page.

More about QMines Ltd.

QMines Limited is a Queensland-focused copper and gold development company listed on the ASX, owning 100% of the Mt Chalmers copper-gold and Develin Creek copper-zinc deposits, as well as the Mt Mackenzie project, all located near Rockhampton. Mt Chalmers is a historic high-grade mine, and following several resource updates, Mt Chalmers and Develin Creek together host JORC 2012 Measured, Indicated and Inferred Resources of 15.5 million tonnes grading 0.82% copper, 0.35 g/t gold, 0.47% zinc and 5 g/t silver, supporting the company’s strategy to commercialise existing deposits and move toward sustainable copper production.

Average Trading Volume: 2,555,779

Technical Sentiment Signal: Buy

Current Market Cap: A$38.31M

For an in-depth examination of QML stock, go to TipRanks’ Overview page.