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QMines Ltd.
(Sydney:QML)
QMines Ltd. (QML) vs. iShares MSCI Australia ETF (EWA)
QMines Ltd. Business Overview & Revenue Model
QMines Ltd. Financial Statement Overview
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2018 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 78.17K | 178.21K | 22.17K | 0.00 | 2.51K | 0.00 | Gross Profit |
| 78.17K | 178.21K | -13.34K | -234.62K | -9.05K | 0.00 | EBIT |
| -2.51M | -2.80M | -5.59M | -3.17M | -1.55M | -312.00K | EBITDA |
| -2.58M | -2.88M | -5.66M | -2.93M | -1.57M | -312.00K | Net Income Common Stockholders |
| -3.20M | -3.37M | -5.70M | -3.17M | -1.58M | -312.00K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 1.48M | 607.79K | 2.29M | 1.03M | 9.05M | 69.00K | Total Assets |
| 23.87M | 21.49M | 16.39M | 12.79M | 14.38M | 79.00K | Total Debt |
| 1.48M | 1.36M | 0.00 | 0.00 | 0.00 | 0.00 | Net Debt |
| -5.10K | 771.68K | -2.29M | -1.03M | -9.05M | -69.00K | Total Liabilities |
| 1.97M | 3.41M | 455.11K | 386.80K | 336.67K | 13.00K | Stockholders Equity |
| 21.90M | 18.08M | 15.94M | 12.40M | 14.04M | 66.00K |
| Cash Flow | Free Cash Flow | ||||
| -4.66M | -6.07M | -4.65M | -8.01M | -3.53M | -227.00K | Operating Cash Flow |
| -4.29M | -4.57M | -4.49M | -4.88M | -2.91M | -227.00K | Investing Cash Flow |
| -1.44M | -1.49M | -169.09K | -3.13M | -616.00K | 0.00 | Financing Cash Flow |
| 6.07M | 4.37M | 5.91M | 0.00 | 12.58M | 272.00K |
QMines Ltd. Technical Analysis
QMines Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | AU$12.67M | 4.92 | 8.76% | ― | ― | ― | |
51 Neutral | $2.04B | -1.15 | -21.24% | 3.95% | 2.91% | -30.44% | |
43 Neutral | €15.54M | ― | -15.84% | ― | ― | 57.63% | |
| $9.85M | ― | -53.93% | ― | ― | ― | ||
| €68.11M | ― | ― | ― | ― | |||
41 Neutral | AU$75.80M | ― | -5.23% | ― | ― | 54.26% |
QMines Ltd. Corporate Events
QMines Limited, an Australian company listed on the ASX under the ticker QML, held a General Meeting where all resolutions were decided by poll. The meeting resulted in the approval of several resolutions, including the ratification of prior share issues and the issuance of shares to Resources & Energy Group Limited, while the proposal for issuing unlisted options was not carried. These decisions reflect the company’s ongoing efforts to manage its capital structure and strategic partnerships, potentially impacting its financial positioning and stakeholder interests.
QMines Ltd. has announced the acquisition of the Mount Mackenzie project, a high-grade gold and silver venture that complements its existing portfolio. This strategic move is expected to enhance QMines’ market position by expanding its resource base, potentially increasing value for stakeholders and strengthening its foothold in the mining sector.
QMines Ltd. announced the completion of the first stage of diamond drilling at its Develin Creek copper-zinc project, with plans to commence Reverse Circulation drilling at the Sulphide City deposit. This is part of a 10,000m drilling campaign aimed at expanding and de-risking the resource base. The company’s recent acquisition of the Mt Mackenzie gold and silver project complements its existing assets, enhancing its strategy to develop a scalable, multi-deposit mining operation. The dual-rig strategy is expected to generate significant news flow and pricing catalysts, advancing QMines’ long-term development plans.
QMines Ltd. has issued an addendum to its Notice of General Meeting, introducing a new Resolution 5 which seeks approval to issue up to 33,000,000 shares to Resources & Energy Group Limited. This move is part of the company’s strategic efforts to expand its resource base and potentially enhance its market positioning. The resolution is subject to shareholder approval, and specific voting exclusions apply to ensure fairness and compliance with listing rules.
QMines Limited has requested a trading halt on its securities pending an announcement related to an acquisition. This halt will remain in effect until the announcement is made or trading resumes on April 17, 2025. The move indicates a potential strategic acquisition that could impact the company’s market position and stakeholder interests.
Resources & Energy Group Limited (ASX: REZ) has announced the sale of its Mount Mackenzie Gold Project in Queensland to QMines Limited (ASX: QML) for $2.485 million. This strategic divestment allows REZ to focus on its East Menzies Gold Project in Western Australia, while QMines expands its portfolio of gold assets in Queensland, enhancing its position as a leading explorer in the region.
QMines Limited has completed its diamond drilling program at the Mt Chalmers copper and gold project, confirming the high-grade nature of the ore body. The company is now shifting its focus to the Develin Creek project, where recent exploration has shown promising results, including significant copper intersections. The resource upgrade at Develin Creek, with a 42% increase in Indicated resources, enhances the project’s development prospects and shareholder value.
QMines Limited has successfully completed its diamond drilling program at the Mt Chalmers copper and gold project, confirming the high-grade nature of the ore body. The company is now moving its drilling operations to the Develin Creek project, where recent exploration has shown significant potential with outstanding drill intersections. The upgraded Mineral Resource Estimate at Develin Creek, which includes a 42% increase in Indicated resources, enhances the project’s growth potential and strengthens its development prospects, providing greater confidence in future mine planning and economic potential.
QMines Ltd. released its 2025 Interim Report for the half year ending December 31, 2024. The report includes financial statements and auditor’s declarations, providing insights into the company’s financial performance and position. This release is crucial for stakeholders to assess QMines Ltd.’s operational health and strategic direction.
QMines Ltd. has announced a significant resource upgrade for its Develin Creek project, with the total resource now estimated at 4.2 million tonnes, marking a 1 million tonne increase. This upgrade enhances the project’s growth and development potential, with 42% of resources now in the Indicated category, boosting confidence for future mine planning. The company has initiated open pit optimization studies for the Scorpion and Window deposits and commenced a 10,000-meter drilling program to expand and confirm the Sulphide City deposit. Develin Creek is now a key component of QMines’ growth strategy, potentially integrating into the Mt Chalmers mine plan to extend mine life and improve economic outcomes.
QMines Limited has announced the imminent release of 10,261,194 shares from voluntary escrow, which were initially due for release on 27 February 2025. This update, approved by the company’s board, aligns with their strategic objectives to enhance operational flexibility and potentially impact their market positioning by increasing share liquidity.
QMines Limited has successfully raised $6 million through the issuance of 85,197,743 fully paid ordinary shares at $0.045 per share. This capital raise is part of the company’s strategy to enhance its financial position and support its ongoing development projects. The announcement indicates compliance with relevant legal provisions, ensuring the shares fall within the exemption for on-sale restrictions. This financial move is expected to bolster QMines’ efforts in advancing its copper and gold projects, potentially impacting its market position and offering new opportunities for stakeholders.
QMines Limited has initiated a significant 10,000m drilling program at its Develin Creek and Mt Chalmers copper projects after securing $6 million in capital. The program, comprising diamond and reverse circulation drilling, aims to extend existing high-grade deposits and improve mineral resource estimates, with resource updates and a pre-feasibility study expected to enhance the Mt Chalmers mine plan.
QMines Limited has announced the quotation of 73,514,067 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective February 21, 2025. This announcement follows a previously disclosed transaction, and it marks a significant step in the company’s capital market activities, potentially enhancing its liquidity and market presence.
QMines Ltd. has announced a proposed issue of 5,000,000 unlisted options exercisable at 6.75 cents, set to expire three years from the issue date. This move, scheduled for April 1, 2025, is aimed at strengthening its financial position and could have implications for its strategic growth and stakeholder interests.
QMines Ltd. has secured firm commitments to raise $6 million through a two-tranche placement to accelerate exploration and development at its Mt Chalmers and Develin Creek projects. This funding, supported by existing and new shareholders, highlights the quality and potential of these projects and underlines the company’s growth strategy. The capital will facilitate a significant drilling program at Develin Creek, expected to commence shortly, aiming to expand the scale of potential mining operations.
QMines Limited, a company listed on the Australian Securities Exchange, has requested a trading halt on its securities pending an announcement concerning a proposed equity raise through a placement. This trading halt will remain in effect until February 17, 2025, or until the announcement is made, whichever comes first. The company is taking this step as part of its strategic financial activities, and shareholders interested in the placement are encouraged to contact the chairman.
QMines Ltd. has announced the final results from its maiden drilling program at the Develin Creek copper project, revealing significant intersections of copper, zinc, gold, and silver from the Scorpion deposit. The results confirm the high-grade nature of the mineralisation, with resource upgrades for the Scorpion and Window deposits expected soon. The company plans to commence further drilling to explore additional extensions, positioning the Scorpion deposit as a promising open-pit mining opportunity.