North Queensland Metals (NQM)

Shares / Stock Code

NQM

Stock Exchange / Sharemarket

Australian Securities Exchange

North Queensland Metals (NQM) has transformed into a gold company focusing on its Pajingo mine. The mine produced 100,000oz Au in its first 24 months of operation and is on track to increase production steadily to over 100,000ozpa through the addition of open pit ore and the redevelopment of the Twin Hills Mine. NQM's share of the resource base has grown to ~500,000oz with the acquisition of Twin Hills. The company is in the process of divesting its Herberton prospects to focus efforts on growing its gold assets.

The Company’s projects include the Pajingo Gold Mine, the Twin Hills Gold Project, the Dotswood Gold Project and the Herberton Project. The Company’s subsidiaries include Walker Resources Pty Ltd, NQM Exploration Pty Ltd, Baal Gammon Operations Pty Ltd, NQM Gold Pty Ltd and NQM Gold 2 Pty Ltd. On December 22, 2008, the Company acquired EPM 14016 from Dianne Mining Corporation.

NQM differentiates itself from its peers in having a profitable operating mine, paying a dividend and having no debt. Other notable factors are 1) ability to expand production with minimal capex; 2) prime location with nearby infrastructure such as grid power; 3) highly prospective exploration tenements at both Pajingo and Twin Hills 4) is cashed up should opportunity exist.

Major competitors consist of other mining companies in Australia and overseas exploring for gold, tin and base metals. These range from massive international companies to small explorers with one or two projects.

North Queensland Metals History

When it listed in December 2006, the company had base metal ambitions. The acquisition of 60% of Pajingo in December 2007 and the subsequent decline in base metal prices provided the opportunity to transform into a gold-focused company. Executive staff have the extensive gold experience necessary to see the company outgrow its junior rank peers.

North Queensland Metals (NQM) Products and Services

  • Gold Producer and Explorer of base metal deposits in North Queensland

North Queensland Metals (NQM) Locations and Subsidiaries

North Queensland Metals History
Level 11, 269 Wickham Street,
FORTITUDE VALLEY, QLD 4006
Phone: 1300 308 832
Fax: (07) 3666 0510

North Queensland Metals (NQM) Share Price

Submitted by ASX Listed Company on 6 April, 2010 - 01:29