# CQT - Conquest Mining



## Brissydave (14 July 2006)

Trading halt & suspension since opening on Monday ... last sale Fri 16.5c

Announcement out today (Fri) - _"Makes commercial strike at its Mt Carlton Project"_

Open today 26.5 ... profit takers took it down to 21c ... now it is hovering around the 22c mark.

Anyone holding .... any thoughts ???


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## imajica (18 July 2006)

ASX RELEASE
14 July 2006

Conquest Makes Commercial Strike at its Mt Carlton Project

Conquest Mining Limited (ASX Code: CQT) today announced that it has made its
most significant geological discovery to date at its Mt Carlton Project, located 135 km
east of the Charters Towers Goldfield in Queensland.
Exploration drilling at the Silver Hill prospect has unearthed a deposit containing
commercial mine levels of gold, silver and copper, which builds on previous finds at
the site totalling 3.5 million ounces of silver and 95,000 ounces of gold over the past
two years.
John Terpu, Managing Director at Conquest, said the find is the result of great team
work.
 ¡ §This find took about 9,000 metres of drilling in more than 80 holes over the past eight
months. In the last two months we struck ore grade minerals in almost every hole, ¡ ¨
Mr Terpu said.
 ¡ §One cannot say how big this new find really is, but I am quietly confident that
Conquest will continue to add to the resource. I believe there is substantial potential
for expansion of this deposit, as the mineralisation is shallow, flat lying and open in all
directions ¡ ¨.
 ¡ §So far we have tested only 20 per cent of our 1 kilometre circular magnetic target.
Given the consistency of our finds so far we see no reason why a larger area will not
yield at least similar results, ¡ ¨ he said.
Highlights of the technical data include:
”žh Exploration drilling west along the Silver Hill prospect vein zone has
intersected a significant zone of sulphide mineralisation from 53 metres depth
with 28m@ 4,350 g/t silver, 0.71 g/t gold and 5.9% copper in HC06RC39.
”žh A high grade gold intersection is reported from the V2 prospect area with 11m
@ 27.6 g/t gold, 188 g/t silver and 2.01% copper in hole HC06RC53 from
121m depth. This is within a zone of 46m @ 9.11 g/t gold, 68g/t silver and
1.08% copper from 86 m depth. This hole stopped in mineralisation of 38.8 g/t
gold, 223 g/t silver and 4.29% copper after running out of drill rods at 132m
depth.
All holes were drilled with a Reverse Circulation percussion rig and sampled as 4
metre composites. All samples reporting over 0.2 g/t gold, 25 g/t silver or 0.2%
copper have been re-assayed at 1 metre intervals using an ore grade method.
Table 1: June 2006 Significant Drill Intersections
Drill Hole Coordinates Significant Interval (1m samples)
AMG N AMG E
Silver Hill and V2 Prospect Area
HC06RC-028 7757750 558965 25-27m; 2m @0.01g/tAu, 131g/tAg, 0.189%Cu
49-56m; 7m @0.07g/tAu, 57g/tAg, 0.191%Cu
HC06RC-029 7757685 558864 64-67m; 3m @0.32g/tAu, 42g/tAg, 0.018%Cu
HC06RC-030 7757715 558687 5-8m; 3m @0.33g/tAu, 22g/tAg, 0.003%Cu
16-20m; 4m @0.37g/tAu, 11g/tAg, 0.003%Cu
34-40m; 6m @0.42g/tAu, 28g/tAg, 0.087%Cu
HC06RC-031 7757800 558640 20-22m; 2m @0.02g/tAu, 403g/tAg, 0.358%Cu
50-64m; 14m @0.20g/tAu, 142g/tAg, 0.005%Cu
HC06RC-032 7757853 558693 26-31m; 5m @0.25g/tAu, 85g/tAg, 0.007%Cu
HC06RC-033 7757805 558725 8-18m; 10m @0.30g/tAu, 52g/tAg, 0.011%Cu
22-28m; 6m @0.97g/tAu, 29g/tAg, 0.039%Cu
84-88m; 4m @0.01g/tAu, 34g/tAg, 0.114%Cu
HC06RC-034 7757937 558868 36-74m; 38m @0.78g/tAu, 69g/tAg, 0.359%Cu
HC06RC-035* 7757980 558855 34-81m; 47m @0.35g/tAu, 91g/tAg, 0.390%Cu
HC06RC-036 7757893 558919 29-34m; 5m @1.33g/tAu, 36g/tAg, 0.107%Cu
37-44m; 7m @0.14g/tAu, 71g/tAg, 0.054%Cu
HC06RC-037 7757850 558910 33-36m; 3m @4.19g/tAu, 38g/tAg, 0.545%Cu
45-47m; 2m @0.33g/tAu, 26g/tAg, 0.269%Cu
57-59m; 2m @0.04g/tAu, 87g/tAg, 0.389%Cu
HC06RC-039* 7757800 558595 23-81m; 58m @0.50g/tAu, 1,757g/tAg, 2.93%Cu
Incl 23-53m; 30m @ 0.05 g/t Au, 110 g/t Ag, 0,07%Cu
Incl 53-81m; 28m @0.71 g/t Au, 4,350 g/t Ag, 5.90% Cu
HC06RC-040 7757938 558802 33-45m; 12m @1.88g/tAu, 229g/tAg, 2.72%Cu
52-56m; 4m @0.68g/tAu, 37g/tAg, 0.21%Cu
HC06RC-042 7757997 558800 37-46m; 9m @0.09g/tAu, 51g/tAg, 0.02%Cu
60-66m; 6m @0.11g/tAu, 46g/tAg, 0.07%Cu
HC06RC-043* 7758048 558797 28-60m; 32m @0.32g/tAu, 99g/tAg, 0.34%Cu
86-93m; 7m @0.06g/tAu, 90g/tAg, 0.25%Cu
HC06RC-044 7758055 558850 38-86m; 48m @0.45g/tAu, 60g/tAg, 0.31%Cu
HC06RC-045 7758095 558845 41-77m; 36m @1.36g/tAu, 91g/tAg, 0.64%Cu
85-91m; 6m @0.39g/tAu, 50g/tAg, 0.33%Cu
HC06RC-046* 7758101 558801 38-64m; 26m @0.14g/tAu, 93g/tAg, 0.24%Cu
HC06RC-047+ 7757948 558915 36-56m; 20m @2.38g/tAu, 103g/tAg, 0.834%Cu
64-80m; 16m @0.07g/tAu, 66g/tAg, 0.068%Cu
HC06RC-048*+ 7758000 558915 28-88m; 60m @1.47g/tAu, 102g/tAg, 1.544%Cu
100-108m; 8m @0.85g/tAu, 35g/tAg, 0.436%Cu
HC06RC-049+ 7757994 558955 20-84m; 64m; 1.51g/tAu, 41g/tAg, 0.310%Cu
HC06RC-050 7757950 558955 35-60m; 25m @1.62g/tAu, 36g/tAg, 0.49%Cu
HC06RC-051* 7758047 558910 48-108m; 60m @1.66g/tAu, 97g/tAg, 0.29%Cu
HC06RC-052* 7758055 558975 75-120m; 45m @3.62g/tAu, 32g/tAg, 0.32%Cu
Incl 102-118m; 16m @8.34g/tAu, 55g/tAg, 0.30%Cu
HC06RC-053* 7758101 558975 86-132m; 46m @9.12g/tAu, 68g/tAg, 1.08%Cu
Incl 121-132m; 11m @27.6g/tAu, 188g/tAg, 2.01%Cu
HC06RC-054* 7758100 558915 84-87m; 3m @1.11g/tAu, 99g/tA, 0.58%Cu
104-108m; 4m @7.37g/tAu, 64g/tAg, 0.28%Cu
HC06RC-055+ 7758355 558545 56-60m; 4m @2.22g/tAu, 0.5g/tAg, 0.004%Cu
HC06RC-056+ 7758140 558848 36-60m; 24m @0.11g/tAu, 36g/tAg, 0.272%Cu
All holes drilled magnetic south at -60 degrees, except hole 48 which is vertical.
+ denotes holes with 4m composite results awaiting 1m ore grade assays.
* denotes hole that ended in mineralisation.
About Conquest Mining
Conquest Mining is a Perth-based mining exploration company focused on
discovering low cost gold and silver resources. Exploration at Mt Carlton has delivered
resources at a cost of $15 per ounce of gold compared with an Australian average of
$60 to $70 per ounce for grass-roots exploration.
The company has a large portfolio of tenements with 25,000 km² pegged in
Queensland.
For further information:
John Terpu  ¡V Managing Director  ¡V 08 9240 4111
Stephen Kerr  ¡V Public Relations Exchange  ¡V 0411 055 322
This report is based on and accurately reflects information compiled by Mr Peter Rea, BSc., Msc, MAIG, who is
a full time employee of the Company. Mr Rea has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as
a Competent Person as defined in the 2004 Edition of the  ¡ §Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves. Mr Peter Rea consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.
7758800 mN
7757800 mN
7758000 mN
7758200 mN
558800 mE
558600 mE
559000 mE
559200 mE
7757600 mN
7758600 mN
7758400 mN
V222 PROSPECT
SIIILVER HIIILL
HERBERT CREEK EAST
DEPOSIIIT
111666
111777111888 111999
222222222000222111
222444 222333
222555
222666
222777
22222289889989
333000
333111
333222
333333
333444
333555
333666
333777
333888
333999
444000
444111
444222
444333 444444
444666 444555
444777
444888 444999
555000
555111 555222
555444 555333
555555
555666
Author:
Office:
Drawing:
Date:13/7/2006
Scale: 1:5000
200
SILVER HILL PROSPECT
DRILL HOLE LOCATIONS
TMI MAGNETIC IMAGE
Figure 1
Projection: A MG Zone 55 (AGD 84)
0 50 100
metres
CONQUEST MINING LIMITED
CIRCULAR
MAGNETIC
TARGET


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## imajica (18 July 2006)

You would have to be mad not to be on this one!!!! have a feeling when the media gets a hold of this one its going to rocket!!!


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## ALFguy (18 July 2006)

imajica said:
			
		

> You would have to be mad not to be on this one!!!! have a feeling when the media gets a hold of this one its going to rocket!!!




Agreed! Lots of buyer interest at it's highest price yet   Good volume too.


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## stockmaster (18 July 2006)

"Conquest Mining (CQT.AU) jumps 8.2% to 26.5 cents on heavy
trading of 3.8 million shares as investors increasingly like news about CQT's
high-grade metals strike during extensive drilling campaign at Mount Carlton
project, east of Charters Towers. CQT ran to 27.5 cents after news issued
Friday, so rally today suggests high levels of confidence in find. Best drill
intercepts included 11 meters grading 27.6 gram/ton gold, 188 grams/ton silver,
2.01% copper; another hole intercepted massive 28 meters that assayed 4,350
grams/ton silver, 0.71 grams/ton gold, 5.9% copper. MD John Terpu believes
substantial upside potential exists for deposit."

I believe 27c is a good price barrier to observe, excess this price means investors r confident with the news? ANy thoughts?


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## Nicks (18 July 2006)

Good call, thanks to your posts I just checked this one out and it looks good, great potential to move up quickly based on its finds, so I got in.

Profit takers may take it down a little in the short term but I think based on the volumes and fundamentals with this one those who get in now and hold on for a bit could see a big move upward following in the same patterns as all other miners who actually have solid business and finds. 

The global demand will only get hungrier despite flutters.


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## ALFguy (18 July 2006)

Yeah, great call. Didn't notice this until I read the thread.

Got in early so feeling content   

Looks like it's on a run today, just hope it holds.


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## imajica (18 July 2006)

got in this morning at 26.5 cents (13000 shares) topped up with another 16300 at 30 cents

next few weeks should be very interesting indeed!


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## stockmaster (18 July 2006)

imajica said:
			
		

> got in this morning at 26.5 cents (13000 shares) topped up with another 16300 at 30 cents
> 
> next few weeks should be very interesting indeed!




woah, made a good proft today, up 28%, amazing..


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## Realist (18 July 2006)

Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)

Seems to be going nicely though.    

When do I sell though? - argghhh help..    

what price would you guys sell at?


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## stockmaster (18 July 2006)

Realist said:
			
		

> Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)
> 
> Seems to be going nicely though.
> 
> ...





0.4c, hehehe, I am more greedy!!!


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## Realist (18 July 2006)

Infact it is rocketing!!  32 cents now.    

Oh no, I may get hooked on trading...  help.


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## cuttlefish (18 July 2006)

Realist said:
			
		

> Before anyone faints, I took a small punt on this myself (yes I gamble okay, blackjack, horses, sports, and now this)
> 
> Seems to be going nicely though.
> 
> ...




watch it keep going up - then when it backs off a little bit you'll get worried and think maybe I should have sold it - but then you'll see it turn around and start going up again and form a new high - so next time it backs off you'll wait for it to go back up again, but it won't it'll go down a bit more - and you'll think maybe you should sell, but then it will start to go back up again so then you'll think its lucky you didn't sell but you'll definitely sell when it gets back up to where it peaked. And it will get back to where it peaked but you'll think it looks like its really going up now so you'll hold for more profit.

Then it will turn around and go back down a bit again, so you'll wish that you sold and wonder if you should sell, and it'll go down a bit more and you'll really wish you'd sold, but then it will turn around and start to go back up again, and you'll be glad you didn't sell, and maybe it'll go back up to the spot you wish you'd sold at before.

Then it will go down again, and then up for a bit, then back down a bit more and suddenly it'll be back down to the price you bought it, and you'll think damn I missed out on all that profit, maybe I should sell now, and then it will go below what you bought it for and you'll think oh no its going down and I'm going to lose a bit of money but then it'll recover a bit so you'll think lucky I didn't sell and you'll hope that it gets back up to the price you bought it for.

And then it'll get back up to the price you bought it for and you'll think - good lucky I didn't sell I might hold for a bit longer and make a profit after all. But then it will go down again below the price you bought it for, then it will start to fall suddenly and you'll think oh no I'm going to lose quite a lot of money now and you'll sell.

And then it will go up again back to where you bought it and maybe a little bit more and then maybe it'll come back down again but it won't matter any more because you'll have sold.

Thats my prediction of how it'll go for you realist - let us know how you fare.


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## cuttlefish (18 July 2006)

But you'll be happy anyway because it'll mean you don't pay any tax.


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## REA (18 July 2006)

Hang on Cuttlefish my endings are more dramatic than that !


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## cuttlefish (18 July 2006)

is that you realist? (REA?) using a different username (1 post) or someone else?


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## imajica (19 July 2006)

already a bid higher than last close price, always a good sign! should see a nice surge today


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## imajica (19 July 2006)

the buy side is massive!!! at least 40 bidders already in the pre-open over the last close price! happy days


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## ALFguy (19 July 2006)

Up 14% in the first 10 mins with big volume...NICE


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## redandgreen (19 July 2006)

Note the options are trading more strongly than the ordinary shares.
CQTO
A new AUM in the making......caveat emptor


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## stockmaster (19 July 2006)

No ann, y is up so much?!?! Chance of further growth today?


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## imajica (19 July 2006)

thank god I got in early yesterday!!!

you would be laughing all the way to the bank if you had got them when they were 4 cents.


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## Realist (19 July 2006)

.355  now!    

It's climbing nicely. 

I'll just let it run until it becomes bigger than BHP then sell some. And I'll put in a stop loss at what I bought it for plus 1 cent to cover any losses.

The word "hope" comes to mind...

(No I am not REA, Cuttlefish - BTW I dare you to do a one off trade today)


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## eddievanhalen (19 July 2006)

cuttlefish said:
			
		

> But you'll be happy anyway because it'll mean you don't pay any tax.




Haha


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## Realist (19 July 2006)

eddievanhalen said:
			
		

> Haha





Would you believe this was purely a buy and hold investment based on sound fundamentals that I plan holding for at least 30 years and reinvesting the 7% dividends?


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## Realist (19 July 2006)

Ahh its just dropped a cent.  Sell, Sell, where's the nearest window..


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## ALFguy (19 July 2006)

Realist said:
			
		

> Ahh its just dropped a cent.  Sell, Sell, where's the nearest window..




Hehe... time to top up?


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## imajica (19 July 2006)

bit of profit taking there, looks like its going to march towards 40 cents by the arvo

was wondering if you guys are ARH holders as well?

if their iron ore deal gets off the ground its also going to rocket


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## Realist (19 July 2006)

Up to .355 again, lucky I didn't jump.   

imajica, when are you going to sell?    What is your stop loss and the point where you are happy with your return and take some profits?


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## imajica (19 July 2006)

I still think the stock has a long way to run, simply due to further drilling results being announced over the next few weeks. If they can prove a multi-billion dollar resource then the share price will at least reach a few dollars. If for some bizarre reason tragedy occurs then I would put a stop loss around the 35 cent mark. ( but not yet though). This would lock in a few thousand profit. How bout u realist?


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## Realist (19 July 2006)

imajica said:
			
		

> I still think the stock has a long way to run, simply due to further drilling results being announced over the next few weeks. If they can prove a multi-billion dollar resource then the share price will at least reach a few dollars. If for some bizarre reason tragedy occurs then I would put a stop loss around the 35 cent mark. ( but not yet though). This would lock in a few thousand profit. How bout u realist?




Well the company has been around for years - which gives me some confidence. The market cap now is about $50M - not too overvalued. And the recent announcement sounds to be legit and fairly valuable. The gold in particular interests me, the gold can be delivered from there at $15 per ounce apparently, where the norm is about 4 to 5 times that. and it was a "high grade gold intersection".  so the cost of doing business is lower than others which excites me!!  And gold of course is great when other things turn sour. 

So I'll hold and hope for quite a while, I am no chartist and don't follow trends as such. This was a purely a punt. But fundamentally for a punt it has a bit of merit I think - cheap gold!! 

Saying that, anything below 26 cents and I am out. Cut my losses and run to safer ground.

Otherwise I'll just wait and wait. And hope and hope.

36 cents now!!


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## Nicks (19 July 2006)

all it will take is the next bit of news to come out and this stock will get another rocket up its...


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## Nicks (19 July 2006)

I wonder if CQT has the potential to follow a similar patter to Australian Mining Investments, which started the year at 16.5 cents, hit $7.11 before dropping back to around $3.
If so it could mean a ride for CQT but that being said leaves scope for huge gains in share price, as its the small caps that make the big gains which add on huge % increases in short periods. Lets see how CQT goes, as it does have fundamental prospoects underpinning its share price gains.


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## cuttlefish (19 July 2006)

Realist said:
			
		

> ... The market cap now is about $50M - not too overvalued.




Based on what valuation?  Also you haven't diluted for options either by the looks of it.    (I thought we'd been through this idea of looking into capital structure in more detail when we were discussing CMI).



> The gold in particular interests me, the gold can be delivered from there at $15 per ounce apparently, where the norm is about 4 to 5 times that




Unless I misread it the $15 figure was the exploration cost per oz, not the production cost.


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## Realist (19 July 2006)

cuttlefish said:
			
		

> Based on what valuation?  Also you haven't diluted for options either by the looks of it.    (I thought we'd been through this idea of looking into capital structure in more detail when we were discussing CMI).
> 
> Unless I misread it the $15 figure was the exploration cost per oz, not the production cost.




Cuttlefish, make no mistake about it, this company is worth about $4M, yet the market cap is $50M.

I am taking a punt, there are no fundamentals whatsoever to suggest you would ever buy this stock.

Much like there are no fundamentals to suggest ever betting on the Melbourne cup is wise, but it is all fun and games (until someone loses an eye   ).


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## Realist (19 July 2006)

Down to 32 now...   

anyone wanna jump with me?


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## combankau (19 July 2006)

Did u jump? i did cut. Will u land in shanghai?


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## ALFguy (19 July 2006)

Certainly is dropping off!! .30 now!

Weaker hands? Fear? Actually, the whole market is dropping at the moment.

But wait...buyers coming in to lap up the lows


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## Realist (19 July 2006)

combankau said:
			
		

> Did u jump? i did cut. Will u land in shanghai?




Nup, 26 cents is my cut off....

Still hanging in there..


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## cuttlefish (19 July 2006)

looks like there were a fair few stops at 33.5 and 32 - both pretty obvious stop levels - intraday low and yesterdays close.  (my trailing was at 33.5 but only got 32.5/32 on execution).  

Be interesting to see what the next round of drilling produces - certainly an interesting couple of drill holes in this lot.


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## Realist (19 July 2006)

cuttlefish said:
			
		

> looks like there were a fair few stops at 33.5 and 32 - both pretty obvious stop levels - intraday low and yesterdays close.  (my trailing was at 33.5 but only got 32.5/32 on execution).
> 
> Be interesting to see what the next round of drilling produces - certainly an interesting couple of drill holes in this lot.





Did you sell Cuttlefish?     

How much you make/lose?

How often do you trade?


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## Realist (19 July 2006)

Yeeouch it is back down to 30.     

People not wanting to hold it overnight!!


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## Nicks (19 July 2006)

Its always a good sign when the Director is buying stock though! Dont kick yourself when tomorrow this returns to 0.37 or higher. All it will take is a commodity price increase overnight.


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## Realist (19 July 2006)

0.285 now!!

I'm gonna hold overnight!!    (I've got big balls and a small brain)


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## Realist (19 July 2006)

Back to 0.3 it is holding!!    

30 seconds to go on todays trading...


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## Realist (19 July 2006)

Days over. Closed at 0.3..


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## cuttlefish (19 July 2006)

price after closing price auction was 29.5 (i.e. official close).


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## redandgreen (19 July 2006)

Nicks said:
			
		

> Its always a good sign when the Director is buying stock though! Dont kick yourself when tomorrow this returns to 0.37 or higher. All it will take is a commodity price increase overnight.



I don't consider the recent director purchase a significant amount. approx.$10,000  BIG DEAL!!!
Directors often buy (esp. into penny hopefuls) to give the impression that the future is bright to all those mug traders out there.


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## imajica (19 July 2006)

what an insane trading day for cqt. looks like a lot of profit takers dragging the price down in the afternoon. the trick is not to panic. when new drilling results are announced in the near future that confirm the commercial viability of the deposit the shareprice will rocket. some people are just getting cold feet. after all it is a highly speculative buy and most people have conditioned themselves to act conservatively in such a volatile trading environment. Hang in there guys. the drilling results are quite impressive. if this can be averaged out over  the entire magnetic anomaly they are currently assessing then this could mean a few billion dollars worth of copper, gold and silver. already adding to their sizeable resource base.

I'm nervous about tomorrow but am still holding


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## Realist (19 July 2006)

imajica said:
			
		

> what an insane trading day for cqt. looks like a lot of profit takers dragging the price down in the afternoon. the trick is not to panic. when new drilling results are announced in the near future that confirm the commercial viability of the deposit the shareprice will rocket. some people are just getting cold feet. after all it is a highly speculative buy and most people have conditioned themselves to act conservatively in such a volatile trading environment. Hang in there guys. the drilling results are quite impressive. if this can be averaged out over  the entire magnetic anomaly they are currently assessing then this could mean a few billion dollars worth of copper, gold and silver. already adding to their sizeable resource base.
> 
> I'm nervous about tomorrow but am still holding




Are you confident enough to hold, ignore market sentiment and not look at the price for 3 months? I doubt it (neither am I)

But in all seriousness that is sometimes the safest thing to do if you are extremely confident in a stock.

It is hard to see anyone that confident about this though.  You sounded bloody confident initially in your statement - what is your stop loss?

Mine is 26c (just a 3.5c dip tomorrow and I better sell    )


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## imajica (20 July 2006)

just remember guys that in the afternoon the index dropped 40 points or so. people were selling off across the board not just in Conquest.


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## Realist (20 July 2006)

imajica said:
			
		

> just remember guys that in the afternoon the index dropped 40 points or so. people were selling off across the board not just in Conquest.




Excellent point, and that gave me more confidence in holding it overnight.

And the Dow shot up last night, it could very well be good times this morning. Fingers crossed.


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## Realist (20 July 2006)

32.5 cents now!

Up from 29.5 - so a good start...


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## Realist (20 July 2006)

33 cents now...

All my shares are flying this morning!!    

Even Bluescope, will miracles never cease?   :


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## imajica (20 July 2006)

sold 15000 of my 29300 shares this morning. the volatility was freaking me out. will leave the rest though and see how the upcoming drilling results pan out


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## Realist (20 July 2006)

It is sitting at 30 cents.  I'm just gonna leave it and hope.


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## ALFguy (20 July 2006)

A few heafty buy's just went in around .31 and .315


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## imajica (20 July 2006)

director buys 700000 shares, always a good sign. the 10000 share buy a few days ago was piss weak. but this many is definitely a sign of confidence for things to come!

am still holding my remaining shares

should be an updated announcement soon


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## cuttlefish (20 July 2006)

I had a quick look at that announcement earlier today - I'm not sure its saying the director has bought shares - I think he might have just transferred some to his wife (it says off market transfer while the 10,000 the other day was an on market purchase).   (I could have this wrong so check it out yourself of course).


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## imajica (21 July 2006)

I've just compared the new drilling results from Cudeco and the recent Conquest Mining results and I'm not seeing too much difference. They both look impressive. CQT still has a long way to run, will take a few more drilling results tho


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## Realist (21 July 2006)

33.5c now...

Despite a poor day for the ASX and resources..


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## imajica (21 July 2006)

just when you think the price is falling, a surge of buyers comes in to maintain the price. can't believe the strength of this stock when everything else is going down. just wait for the updated drill results, will definitely run up to a few bucks


----------



## Realist (21 July 2006)

imajica said:
			
		

> Just wait for the updated drill results, will definitely run up to a few bucks





I hope you are right of course..   

When are the next results due?


----------



## ALFguy (21 July 2006)

Surely the sellers at .34 will run out soon   

Seems to be a large buyer base at that price.

VERY interesting stock this and yes, would be good to know roughly when the ann is due.


----------



## jovialTrader (21 July 2006)

Realist said:
			
		

> I hope you are right of course..
> 
> When are the next results due?





28 July Report (Quarterly) ...so that's next week... but not sure if that includes the results that u r referring to....I'm hoping that it will keep going North...eheheh

JT


----------



## imajica (21 July 2006)

good to see solid support at 34 cents

moving up nicely without jumping the gun too quickly and getting a speeding ticket


----------



## imajica (21 July 2006)

35 cents!!! and a ****load of support at 34.5

we just may see the 35 cent barrier broken today - although there are a lot of sellers to get through


----------



## Nicks (21 July 2006)

I see it bouncing up to 0.35c every day. Quite volatile. This tells that this is a resistance point and once it passes this it will set a new point.


----------



## x2rider (21 July 2006)

At last, Over 35c . Go you good thing


----------



## Realist (21 July 2006)

Yep 35.5 cents  now!!


----------



## x2rider (21 July 2006)

geez Realist, just about gave it away the other day . I'm glad I held for a bit longer . The stock is holding up well even on a bad day  
 Cheers Martin


----------



## imajica (21 July 2006)

looks like a bit of Friday afternoon profit taking - so predictable

perfectly healthy before the next leg up

if we get an announcement later on this arvo or on Monday the shareprice will go ballistic


----------



## ALFguy (21 July 2006)

imajica said:
			
		

> looks like a bit of Friday afternoon profit taking - so predictable
> 
> perfectly healthy before the next leg up
> 
> if we get an announcement later on this arvo or on Monday the shareprice will go ballistic




Jovial mentioneed 28th July for quaterly results.
Are you expecting to hear something before then?


----------



## Realist (21 July 2006)

Imajica, you certainly are a cheerleader for cqt.  It is like you are willing it on..

34.5 cents now!


----------



## ltse (21 July 2006)

is it too late to get in now at 34.5cents? I've made some loses recently, hope this will make up for it. How sound is this company? Advice Pls.


----------



## Realist (21 July 2006)

ltse said:
			
		

> is it too late to get in now at 34.5cents? I've made some loses recently, hope this will make up for it. How sound is this company? Advice Pls.




We can't give advice.   You should do your own research.

But this stock is highly speculative - it in no way is it an investment, it is purely a gamble in my eyes.  

My advice if I was to give you some is to sit and watch it for a while.  If you want in, try for around 30 cents.


----------



## Realist (21 July 2006)

Closed at 36.5 cents.

It's hot at the moment alright...


----------



## imajica (22 July 2006)

Conquest discovery makes the news!!!  this is seriously going to fly on Monday





CONQUEST PICKS UP THE BATON IN COPPER STAKES
by Julie-Anne Sprague

The baton in the copper tag-team rally was handed to Balcatta-based Conquest mining yesterday, which surged 20% and extended its gains since handing down high-grade hits at its Queensland project a week ago to more than 120%.

Fuelling the fresh run was speculation Conquest would be forced to upgrade its Mt Carlton resource estimate based on the drilling results it released last Friday.

Conquest claimed the results were its 'most significant geological discovery to date', which included one hole intercepting 28 metres with 4350 grams per tonne of silver, 0.71 gpt gold and 5.9 percent copper.

The roller-coaster ride for shareholders in Cloncurry, Queensland, explorer CuDeco continued, withthe stock falling 11percent, or 42cents, to $3.37.

CuDeco's shares jumped 66.2% on Thursday, snapping a savage three-day share price plunge after fresh results from its Las Minerale deposit extended the strike zone by 50 metres.

CuDeco, formerly Australian Mining Investments, reached a peak of $10 earlier this on bullish resource figures for its Cloncurry project.

The company was later forced to revise down its estimate, slashing its stock to $2.55.

Shares in fellow explorer Kings Minerals were placed in a trading halt yesterday, following a 35% run on Thursday after it stuck high grade zones of copper, molybdenum, gold and uranium and its Kalman prospect south-west of Cloncurry. Industry sources said yesterday the company was planning a capital raising.

Conquest managing director John Terpu said that during the past 2 months Conquest had uncovered ore grade minerals in almost every hole drilled.

"I beleive there is substantial potential for expansion of this deposit," he said in a statement to the Australian Stock Exchange.

Mr Terpu said he was waiting on additional information but expected to upgrade the Mt Calton resource early next week.

"We didn't have enough time (last week) to work out what the results meant to our global resource in the area", Mr Terpu said. "I think some of the analysts have joined the dots in terms of what the results mean to our resource"

DJ Carmicheal analyst Paul Adams said some of Conquest's Mt Carlton intersections were "Spectacular" and there "could well be a reasonable increase to the Silver Hill prospect".


----------



## stockmaster (24 July 2006)

CQT has gained 120% since suspension, investors are confident to have a "high" grade discovery of copper, silver and gold.

*Differentiating Factor*
Conquest Mining is a multi-commodity explorer. The company has diversified its operations in various areas of mining exploration throughout Australia. Australia is one of the leading producer of zinc and lead in the world. CQT focuses mainly on the prospective Kimberley Diamond Fields in Western Australia and Charters Towers Gold Fields in Queensland.

From the past few days, CQT has been traded under high volume with a steady rise through out the period which indicate news or ann is approaching. The most significant thing is that the price rose when the market is in negative territory which seems to be very supportive. 

"Powerful rally continues for Conquest Mining (CQT.AU), last
up 15% at 35 cents on heavy trading of 9.7 million shares. On July 6, CQT traded
at 13.5 cents, but that was before news of high-grade polymetal commercial
strike at Mount Carlton project, east of Charters Towers. Best intercepts
included 11 meters grading 27.6 gram/ton gold, 188 grams/ton silver, 2.01%
copper; another hole intercepted 28 meters assaying 4,350 grams/ton silver, 0.71
grams/ton gold, 5.9% copper. "We reckon we are onto something so watch this
space," exploration manager Peter Rea tells Townsville Bulletin newspaper
Tuesday. "

I personally believe the ann for drilling update + the 4th quarter cash flow will further support the rally. It will be interesting to see how it moves this week!


----------



## Realist (24 July 2006)

41.5 cents now!!

Oh man this is looking good.  : 

When do you sell though?  Any ideas


----------



## Realist (24 July 2006)

It is Commsec's most popular stock this morning... WOW....     

It is stuck around 41 cents... Keep going ya bastard...


----------



## ALFguy (24 July 2006)

Realist said:
			
		

> 43.5 now!




45.5 Can anyone believe this?

Buyers are pouring in......


----------



## blobbob (24 July 2006)

director bought 100000 opps @ 16c


----------



## Realist (24 July 2006)

The other thing is the market is taking a beating today, particularly resources.

So CQT is doing superbly well considering.

It's down to 44c now.

I'm just gonna sit and watch.  nervously..


----------



## ALFguy (24 July 2006)

Realist said:
			
		

> I'm just gonna sit and watch.  nervously..




Realist, have you moved your stop loss up from .26?


----------



## imajica (24 July 2006)

I told you realist that this was a winner!!!!


----------



## CanOz (24 July 2006)

This is incredible, watch out for profit takers at the end of the session.

I wish i had listening to you guys and got onto it!


----------



## Realist (24 July 2006)

ALFguy said:
			
		

> Realist, have you moved your stop loss up from .26?





No.    


I'm not gonna use any stop loss for the moment.  I'll just watch closely and judge for myself.. And wait for the next announcement.

Stop losses can pull you out of an excellent opportunity just because of a fluctuation.

Cuttlefish and others jumped out of this when they should not have because of stop losses.  As an investor and not a trader I'm more than willing to hold on to a losing trade longer than most, that will backfire on me sometimes but on the other hand it will work in others - like this!


----------



## Nicks (24 July 2006)

Hi All

I sold out enough to pay my initial investment and now what I have is free (if you dont count the tax I will pay on the profit of what I sold). A semi conservative strategy.

Also, would like to say that we dont need a running tally minute by minute of posts just telling us what the stock price is without any other useful information and pictures of big rockets.


----------



## Realist (24 July 2006)

Nicks said:
			
		

> Hi All
> 
> I sold out enough to pay my initial investment and now what I have is free (if you dont count the tax I will pay on the profit of what I sold). A semi conservative strategy..




Why?     

You've probably just cost yourself alot of money.

Tax and brokerage are real you can not just dis-count them for the sake of a good story.

Today was a shocking day for Resource stocks, overnight we may get good news bumping CQT even higher - you should have held overnight IMHO!



> Also, would like to say that we dont need a running tally minute by minute of posts just telling us what the stock price is without any other useful information and pictures of big rockets




 :fu: 


When it hits 50 cents I'm gonna post all sorts of rockets and rub it in that you missed out.


----------



## stockmaster (24 July 2006)

Copper went down 3 days in a row, this lead by the decline in precious metal.
Market responded to this drop. CQT reacted in an awkard manner. Half to go before market close, and All Ord is moving upwards indicate a rebound for tomorrow, copper i believe shall cover some loss tomorrow, how would this react to the share price of CQT?


----------



## ALFguy (24 July 2006)

stockmaster said:
			
		

> CQT reacted in an awkard manner




What do you mean, awkward manner?   

Appears CQT has shown it's strength over the last few days whiles the rest of the market took a hit. Looks like it has some way to go yet.


----------



## Joe Blow (24 July 2006)

That's enough of the ramping in here please. We don't need constant price updates or pictures of rockets. For a moment I thought I was on another forum.

I understand the excitement when a stock goes for a run but that doesn't mean we have to clutter a thread with a bunch of posts that serve no purpose.


----------



## redandgreen (24 July 2006)

Agree! 
Such ramping is best left for the inhabitants of the Commsec chatroom.


----------



## Realist (24 July 2006)

Okay, no more ramping, fair enough...


----------



## imajica (24 July 2006)

glad your still holding realist!!! How many shares do you hold?

I feel like an idiot for selling half of my original amount for a small profit.

still hold 15000 though


----------



## Nicks (25 July 2006)

Realist said:
			
		

> Why?
> 
> You've probably just cost yourself alot of money.
> 
> ...




dis-count does not have a '-' in it.

As for some actual intellectual comments: it only cost alot of money if the stock goes up. Unless you have a crystal ball I suggest you dont bag the strategy.
Selling enough stock to cover my initial investment is quite an acceptable strategy, and unless you know how much I bought to start with you cannot know in % terms how much I had to sell to do tihs.
Secondly, it reduces my risk to virtually 0. If the share price goes up, I still gain as I still hold stock (so post me a rocket for all I care). If it goes down, then I do not lose as the Capital gains I made on the first sale are offset by the losses I make on the stock I still hold and interest on the gearing. Beats closing my eyes and hoping for the best or an announcement that may or may not come, or may be negative.

Brokerage cost around 30 bucks.

I dont see anything of intelligence or concrete in what you said. Good luck with your gambling and lets hope for both of us it does go to 50 cents. Im sure with the hourly postings of the stock price you provide we'll find out soon enough.


----------



## chennyleeeee (25 July 2006)

Does this seem to tinge on another AUM/CDU ? Only drilling results and yet its starting out just like AUM.

CHEN


----------



## RickG (25 July 2006)

Realist said:
			
		

> Why?
> 
> You've probably just cost yourself alot of money.
> 
> ...




Realist while I love your posts, comments like these are a bit silly.  There is never anything wrong with taking 'Profits' off the table, which is just what Nicks did.  I think it was a smart move by him, especially with such a speccie stock.  And lets face it, holding this stock for 12 months or more is risky.  To me the most important thing in this game is to protect your profits.  I would rather pay a little tax and brokerage, than make a loss.  I do hope this stock does well... always nice to see everyone making money.

But maybe I am more trader than investor.

PS.  I loved the rocket


----------



## Realist (25 July 2006)

RickG said:
			
		

> Realist while I love your posts, comments like these are a bit silly.  There is never anything wrong with taking 'Profits' off the table, which is just what Nicks did.  I think it was a smart move by him, especially with such a speccie stock.  And lets face it, holding this stock for 12 months or more is risky.  To me the most important thing in this game is to protect your profits.  I would rather pay a little tax and brokerage, than make a loss.  I do hope this stock does well... always nice to see everyone making money.
> 
> But maybe I am more trader than investor.
> 
> PS.  I loved the rocket




   Someone liked the rocket!!       

Well Nick may have the last laugh as CQT is down today.  Can I post a picture of a cliff diver or a rubbish dump?   

The one thing traders do is jump too quickly.   At the first sign of trouble they jump and run and hide.  They'll tell you they never get hit by HIH and Enron type problems which may or may not be true. 

But they'd buy into PDN, watch it rise, then fall a bit and jump out - paying taxes, then they buy back in at a higher price and watch it rise and see it fall then sell and pay taxes. 

It is a fine balance whether to stay in or not, and you need to protect your capital but if you buy into a company you need to give it a chance to grow in my opinion.

Of course I am not leveraged and diversify widely, and this was a small punt. So I'll wait patiently with CQT even if it drops to 20 cents I'll wait.  Purely in anticipation of the next announcement...

And then I will reasses.  I will not be swayed by market sentiment in this case.


----------



## stockmaster (25 July 2006)

Realist, has posted the most realistic post, it happens to a lot of people, including myself. i often gain for the first time and sell, then when price goes up i buy again at a higher price and then a loss. I believe to be a successful trader, patient is vital. 

A drop of 5% has scared most people, as most people believe the price is overvalued and ann is not out, creating a lot of doubt. 

This might be true but i believe the risk of hanging is less than the benefit of doing so. The reason is first technically, the closing price is not below the opening price on friday, secondly the momentum still exist as ann is still hindering and anything may happen.

It seems strange that backing with a strong DJ, the share price went weaker, however persoanlly i believe it is a more profit taking. It will be interesting to see how it go tomorrow and if it opens in the forward manner i strong believe it is time for another rally.


----------



## stockmaster (25 July 2006)

I have extracted a message from someone which read:

-Message Reads-

The recently announced "purple patch" of drilling has added significantly to existing resources...which was already due to an upgrade because of subsequent drilling.

Looking simply at the most interesting results to the South East of the magnetic anomaly (Between the V2 and Silver Hills prospects), they are likely to announce an order of magnitude increase from my calculations.

This area alone measures approximately 300m x 500m (ignoring isolated holes and allowing typical JORC overuns)...if we project to depths of just 20m, we get the following...

300 x 500 x 20 (deep) x 3 (sg) = 9,000,000 tonnes

With holes ending in mineralisation at 132m however, there is a very good chance this depth might increase significantly.

Eg...300 x 500 x 40 (deep) x 3 (sg) = 18,000,000 tonnes.

Taking a few quick averages from the drilling intersections and using the smaller of the above tonnages, we get the following approximate metal content...

Au = 1g/t x 9m tonnes = 320,000 ounces Au
Ag = 84g/t x 9m tonnes = 27,000,000 ounces Ag
Cu = .40% x 9m tonnes = 36,000 tonnes Cu

By any measure, these are big numbers...and still only cover 20% of the target area.

Double the depth, which would seem like a likely scenario and we can double the above numbers.

The real significance however is the grade per tonne...very robust, even after numerous discounts for future prices.

These are clearly economic by a long way!

Remember...the above numbers are only for the isolated set of results to the south east...according to the company, they are hitting significant mineralisation with virtually every hole throughout the entire target area!

Something also not mentioned before...and I may have missinterpreted here...but it appears to me we still have another 10 or so holes previously drilled for which assays have not yet been returned...so might be a surprise announcement in addition to the expected one?

Hopefuly I have not missed anything here, because the numbers seem incredible...and still only 20% (footprint) covered and nothing deeper than about 130m.

This is why I believe success with the diamond drilling at depth, could well see this stock bid at $1...lol...and no, its not a ramp!

-Message Ends-

Can someone analysis the validity of this message and the consequence to the share price if this message is correct! Fanx in advance!


----------



## ALFguy (26 July 2006)

I heard from someone who heard from someone else who heard from ...blah...
...that there may be an announcement tomorrow, possibly before open.

Will be very interested to see what results they get from the deeper drilling.


----------



## stockmaster (26 July 2006)

Ann of upgrade is out, 328% increase in gold, 413% increase in silver, 556% increase in copper, adding up a total value of 696 m, compare this to 61 m capital market, 10 fold, seem to be a big day today!!


----------



## Realist (26 July 2006)

Seeing as though I am not allowed to post rocket pictures can I make sounds like "wahhhhhh zoooooom weeeeeahhh peooowwww" ?

Okay in all seriousness the announcement is saying $696,000,000 is the value of the resources discovered.

Can anyone value the company for me?

Assuming the other 80% not tested has virtually nothing in it (which is obviously unlikely but I wanna be conservative).

The market cap at 41 cents is $58M.  If the company is worth $580M (is that reasonable?) then the share price is gonna be $4.10 right?


----------



## imajica (26 July 2006)

I think this stellar announcement requires several pictures of rockets!!!

well done everybody for hanging in there!!! I knew it would work out well!!!


----------



## Absolutely (26 July 2006)

Personally I would like to add some support to Realist and his Rocket picture.

Sometimes there is just no time to read all the postings on the forum and a rocket picture like that gives you an instant overview as to what is going on. A market snapshot as they say - well with respect to this particular stock anyway.

I congratulate Realist on his earnings with this stock. But I do detect sour grapes from others - namely Nick.......


----------



## imajica (26 July 2006)

I'm gonna get in trouble for this by the administrator!!! 

Mission: Universal Conquest

Shuttle Payload: CQT shares


----------



## ALFguy (26 July 2006)

I assume we won't see any speeding tickets?  :


----------



## Realist (26 July 2006)

Hahahaaaaa

Hey Imajica - well done on this by the way.

Now the big question, when do you sell?

Are you game enough to hold a year to reduce taxes (I can hear the traders fainting as I type)

But in all seriousness why the hell not?


----------



## Nicks (26 July 2006)

Absolutely said:
			
		

> Personally I would like to add some support to Realist and his Rocket picture.
> 
> Sometimes there is just no time to read all the postings on the forum and a rocket picture like that gives you an instant overview as to what is going on. A market snapshot as they say - well with respect to this particular stock anyway.
> 
> I congratulate Realist on his earnings with this stock. But I do detect sour grapes from others - namely Nick.......




GET OVER IT - I still hold PLENTY OF STOCK. Grapes are tasting good to me. Do you read posts properly at all?? some childish people on this forum with talk about sour grapes, laughing in your face when it 50 cents etc etc.

.. and its easy to add support in hindsight after an announcement comes out. Where was your support before? Well done, you are a legend adding your support now in hindsight.

I am as happy as everyone else about this announcement.


----------



## imajica (26 July 2006)

Im hoping it gets to at least a few dollars!!  really want to make at least 20k profit on this.

when are u selling realist?

lets all post rocket pictures when it hits a dollar!


----------



## ALFguy (26 July 2006)

A LOT of profit taking early on.....


----------



## Realist (26 July 2006)

imajica said:
			
		

> when are u selling realist?




NEVER!!!    : 


If you find the next BHP, Microsoft, or Coca Cola for christ sakes hold it!!

Not that I am saying this is the next BHP, but what if??  

(should I buy some more?)


----------



## imajica (26 July 2006)

I think I will hold on - someone on the other forum calculated CQT's potential value at 20 bucks per share. (based on the assumption that the resource stretches acrossat least 80% of the magnetic target)  even if it gets to a quarter of that we will all be happy


----------



## imajica (26 July 2006)

just out of interest, at what price did everyone buy into CQT?


----------



## imajica (26 July 2006)

the share price is ready to bounce - big buyers moving in


----------



## ALFguy (26 July 2006)

imajica said:
			
		

> just out of interest, at price did everyone buy into CQT?




0.265 initially, but bought a little on the way   

Any suggestions as to why the price is remaining so low, given the resouce potential?


----------



## imajica (26 July 2006)

what a coincidence! I bought in at 26.5 c as well

seems to me the sellers are winning at the moment

a bit of manipulation going on I think


----------



## NettAssets (26 July 2006)

ALFguy said:
			
		

> 0.265 initially, but bought a little on the way
> 
> Any suggestions as to why the price is remaining so low, given the resouce potential?




Its that POTENTIAL word that does it.
change potential to (f)actual and then away it goes.

John


----------



## Realist (26 July 2006)

redandgreen said:
			
		

> Note the options are trading more strongly than the ordinary shares.
> CQTO
> A new AUM in the making......caveat emptor





Why do you say this?

Please explain in more detail..


----------



## ALFguy (26 July 2006)

imajica said:
			
		

> what a coincidence! I bought in at 26.5 c as well
> 
> seems to me the sellers are winning at the moment
> 
> a bit of manipulation going on I think




That said, it appears the whole market is down at the moment.

I'm holding on. Can see some 'potential' (there's that word again) for this to move up over the next few days/weeks.

Hopefully the media won't start doing comparisons with CDU.

A steady release of drilling results is what this really needs.


----------



## Nicks (26 July 2006)

imajica said:
			
		

> just out of interest, at what price did everyone buy into CQT?




I got in at 28.5c thanks to the initial 3 or 4 posters on this thread. Thanks again for the good call and tip.


----------



## Realist (26 July 2006)

One thing that concerns me is this...

"the company is presently considering its financing options to ensure that the drilling program will be fully funded"

What does this mean to you guys?


----------



## imajica (26 July 2006)

does that 700 million dollar estimate of the tested area (20% of the magentic anomaly) include the silver hill prospect?  it seems to me we might have another 700 million or so of value attributed to this tenement as well. combine that with the potential resource in the other 80% and we could potentially see a total resource value somewhere between 3-4 billion !!


one word:  niiiice!!


----------



## cuttlefish (26 July 2006)

realist for someone that claims to be an expert on fundamentally valuing a company you don't seem to know much about actually doing it.

Use NPV to get and idea of a value for the company - check out CUO's latest financing report where they do an NPV estimate.  There is also an NPV function in Excel that you can use.

In relation to the financing options it means they need more capital to continue drilling.  They'll try to get bank finance but if they don't then it'll be equity.  Placing 10 million shares at .40 cents for example woudl give them 4 million which would see them through a lot of drilling and not dilute the market cap much at all.

btw - in relation to trading and stoplosses etc. - you'll find that with tight stops you can allocate more capital to a trade without risking as much - because the tight stop protects capital. So for example allocating $10K to a trade from 28 to 32 cents give a $400 gain, and with a tight stop at .27 you're only risking $100.  This is just a theoretical example.  

Also if you're confident of your fundamentals and have done detailed analysis this can also mean having confidence to allocate more capital to a trade as well.

btw I'm not a trader, but am interested in understanding trading better, so have been doing a bit of reading and giving it a bit of a go.  I'm sure I'll make quite a few mistakes at first - which might make me a bit conservative overall so I protect my capital.  

I'd agree that the tight trailing stop that pushed me out at .32, in hindsight wasn't a great decision - maybe I should have made it a partial sell down instead, leaving me more to run.  

btw I hadn't done any kind of detailed fundamental analysis at that point - had just seen the amazing drill results and thought it was worth a punt on momentum.


----------



## Realist (26 July 2006)

Okay it is time for all of us to take a step back, forget the current share price, forget market sentiment, stop ramping it up, and look for any downside, and try and roughly value this company so we know when to sell and for how much.

Lets say this "potential" turns into "actual" and the share price rockets - we need to know what price to sell at, forget the bloody graphs and trends I want to know what this company could be worth, and if the share price becomes overvalued I'll sell.


Okay CQT has about $3M in cash.  $600K in debt.

It's outstanding shares is increasing rapidly - which is a huge concern.

It is gonna need to get more money to start mining - hence the shares will be dilluted alot more before we see any profits.  

It has potentially  $250M in Gold, $190M in Silver, and $250M in copper. That is about $700M.

The current Market cap is $65M.

How much does it cost to eke out a ton of copper, how much for an ounce of gold or silver?  How long will it take?

Lets say they make 25% on each ounce they sell. Is that a fair estimate?

Then they'll (actually we'll) make $175M.  About 3 times the market cap.

If that is the case - the share price would be worth about $1.20

Is that fair?     


Imajica can you post that guy's opst who said $20 - to see what he said?


----------



## cuttlefish (26 July 2006)

imajica said:
			
		

> does that 700 million dollar estimate of the tested area (20% of the magentic anomaly) include the silver hill prospect?  it seems to me we might have another 700 million or so of value attributed to this tenement as well. combine that with the potential resource in the other 80% and we could potentially see a total resource value somewhere between 3-4 billion !!
> 
> 
> one word:  niiiice!!




imajica - I think it would include a fair bit of the silver hill drilling, but they did say it didn't include the drill hole with the 4,350 g/t ag intersect.

There's also another large prospect called silver ridge that they haven't started drilling at all yet as far as I know. (its not in the herbert ck/silver hill area - its south of the western lodes deposit).  And of course its quite possible there'll be more surprises around the silver hill/v2/herbert creek area.

One would hope given all of the attention recently on CDU that they would have headed for the cautious side in doing their inferred estimates and not made any big projections outside the drilled area.


----------



## Realist (26 July 2006)

cuttlefish said:
			
		

> realist for someone that claims to be an expert on fundamentally valuing a company you don't seem to know much about actually doing it.




 

Valuing this is not an easy task.  I value companies that make profits - not speculative mining explorers.

I had a fair idea what they meant Cuttlefish and it was all bad news - just wanted to see what others thought.



> I'd agree that the tight trailing stop that pushed me out at .32, in hindsight wasn't a great decision - maybe I should have made it a partial sell down instead, leaving me more to run.
> 
> btw I hadn't done any kind of detailed fundamental analysis at that point - had just seen the amazing drill results and thought it was worth a punt on momentum.




Yeah well you win some and lose some.

I did no fundamental analysis on this, you can't really - it was a punt, and I held my balls when it dropped to 28 cents - I too was nearly out.  My "investing" mentality said hold, hold, so I did.

Would you buy back in?


----------



## Realist (26 July 2006)

It is 44.5 cents now, anyone want more?

I've bought some more...


----------



## cuttlefish (26 July 2006)

Realist said:
			
		

> Valuing this is not an easy task.  I value companies that make profits - not speculative mining explorers.
> 
> I had a fair idea what they meant Cuttlefish and it was all bad news - just wanted to see what others thought.
> 
> ...





A lot of people make good money doing fundamental analysis on penny miners.  

Anyway - this is an innane discussion - I've provided some valuable information about trading and about how to do fundamentals - you've provided some pictures of rockets.


----------



## Realist (26 July 2006)

cuttlefish said:
			
		

> A lot of people make good money doing fundamental analysis on penny miners.
> 
> Anyway - this is an innane discussion - I've provided some valuable information about trading and about how to do fundamentals - you've provided some pictures of rockets.




 

Your trading tip is jump into anything that moves with a tight trailing stop. If things look slightly wrong jump out.

You'll end up jumping out of the good ones doing that unless you time it perfectly.

And if you do hit a winner, you'll jump out before you make any money. Cause no doubt it'll dip at some point.

Your Fundamental analysis sucks as well. You think TLS is a good buy.


----------



## cuttlefish (26 July 2006)

ah well - you know it all then I suppose.

My trading tip was that stop losses and money management can be used effectively as a way of limiting capital risk and applying more capital to a trade.

Got a crystal ball have you?  Why don't you buy some TLS puts if you're so confident.


----------



## Realist (26 July 2006)

cuttlefish said:
			
		

> ah well - you know it all then I suppose.
> 
> My trading tip was that stop losses and money management can be used effectively as a way of limiting capital risk and applying more capital to a trade.
> 
> Got a crystal ball have you?  Why don't you buy some TLS puts if you're so confident.




Where did I say I know it all?      

Any idiot knows what stop losses are for.  You are telling us nothing new. Yes you can put more into each trade if you use narrow trailing stop losses, all I was pointing out is you'll get pulled from a winner too often for my liking. Any real winner like PDN you'd be in and out like a yoyo making little money.

As an investor you should know that holding onto a winner is the best thing you can do to reduce tax and brokerage and give it a chance to grow and for you to compound your gains.

You're reading trading books and getting brainwashed with this jump in and jump out trading.  Traders jump out of winners as quickly as they jump into them. Of anyone here Cuttlefish I'd have thought you'd have realised this.

As for TLS, yes I do have a crystal ball. It will chug along as it has done for the past 6 years. Nowhere to grow, forever losing pieces off its former monopoly, it pays reasonable dividends but the price drop cancels those out. It'd be wiser to put 98% of your money in the bank, 1% in CQT and 1% in MTN (and do not even look at the share price).


----------



## cuttlefish (26 July 2006)

> You're reading trading books and getting brainwashed with this jump in and jump out trading. Traders jump out of winners as quickly as they jump into them. Of anyone here Cuttlefish I'd have thought you'd have realised this.




No, I'm reading trading books with a view to enhancing my FA approach, applying what I'm reading, and learning from the results, and I've got nothing to complain about so far.



			
				realist said:
			
		

> As for TLS, yes I do have a crystal ball. It will chug along as it has done for the past 6 years. Nowhere to grow, forever losing pieces off its former monopoly, it pays reasonable dividends but the price drop cancels those out.




ok well since its so obvious go and write some naked OTM calls against it then and make yourself a motza.


----------



## Nicks (26 July 2006)

cuttlefish said:
			
		

> ah well - you know it all then I suppose.
> 
> My trading tip was that stop losses and money management can be used effectively as a way of limiting capital risk and applying more capital to a trade.
> 
> Got a crystal ball have you?  Why don't you buy some TLS puts if you're so confident.




Well done cuttlefish, I think you are stating something intelligent regarding trading on this thread.
This guy Reallist is certainly not that, a reallist. He has no rhyme or reason. Everything he says is ramping. Stuff like '44.5 i bought more, anyone else want some' (or whatever he said). All we get are insults.
I wouldnt bother arguing with someone who cannot say anything intelligent and has clearly no knowledge at trading or common sense investing.


----------



## Realist (26 July 2006)

Nicks said:
			
		

> Well done cuttlefish, I think you are stating something intelligent regarding trading on this thread.
> This guy Reallist is certainly not that, a reallist. He has no rhyme or reason. Everything he says is ramping. Stuff like '44.5 i bought more, anyone else want some' (or whatever he said). All we get are insults.
> I wouldnt bother arguing with someone who cannot say anything intelligent and has clearly no knowledge at trading or common sense investing.




There's no need to get personal Nick. When have I ever insulted you or anyone?

I merely stated that I thought you should have held - then you got all uptight and got your nickers in a twist. I don't know if it is because you are embarassed by your lack of confidence or regretting missing out on more money. Either way it does not warrant you having a go at me.

I did buy a few more shares today - what is wrong with me telling people that? I am not ramping this stock, less than 1% of my portfolio is in this, this is just playing around for me. 

Maybe I'll lose money, maybe it will soar - I'm playing this differently to you.  And you are the only one all uptight about it.

As I said before any idiot can put in place stop losses or take part profits - you think you are some sort of trading genius for stating this?

All I was saying and I'll say it again, is traders often jump in and jump out of opportunities far too quickly to ever make big money. There are times when you need to back yourself and in a price dip not pull out but even buy more.

This still looks like a good one to hold despite it going from 50c to 43.5c today. I hope for both our sakes it does well I will hold in the meantime.


----------



## Dr Stock (26 July 2006)

Management sounds good. I like it. Looks like a long term buy to me. Could have sold at 50c, decided to hold.


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## stockmaster (26 July 2006)

Not all capping or "manipulation" is underhanded or designed with evil intent by devious groups...sometimes, it is simply the product of mass psychology at work!

For example...

Group 1...Today's early sellers wanted to buy back in lower...as such they loaded the sell side a few points from the action and pulled their buy bids down a bit lower, or off the market entirely.

Group 2...Today's larger buyers (smart money), also recognising the significance of the results and changing dynamics for this company (and wanting in on the news), know too well not to buy in early on such a spike day...they too wanted lower prices and are likely to have avoided generating buying interest. They may even bought a few shares, then immediately loaded them into the sell queue.

Group 3...Core holders, perhaps interested in accumulting more on the news, are also likely to want cheaper entry prices...as such, they too are likely to help facilitate the appearance of weakness and overhead, perhaps selling a few and loading the sell side depth, while gradually accumulating throughout the day.

Group 4...Other core holders...the type that have been in for a while...would have done nothing other than look on with interest!

Group 5...Finally we have the buyers on the spike...more than likely temporary and inexperienced "traders", unaware that although the news was good, you don't just jump in on an 8c "gap" open...especially after the recent signifcant rises. Well this lot are probably the only ones really who want to see higher prices immediately...and they only want this so they can sell, adding even more downside pressure everytime the shares begin to rally.

The problem with this last group is they hate to buy unless everyone else is buying (safety in numbers?)...so, instead of buying days or even weeks earlier, as some of us have kept telling everyone, they wait to see what the company has to announce first.

They will tell you they do this for safety, because the stock is too expensive without knowing...blah, blah, blah....then, when the news comes out, they buy in with everyone else, which due to normal market forces, results in a temporary spike in the share price.

When the buying subsides, as it usually does, the shares come back to the underlying support (or interest) level...sometimes however, not until it has overshot on the downside first.

Those stuck in at higher prices then "can" the stock, or the contents of the "report" as being rubbish, or a dog...or whatever...lol...but the real irony is that they actually bought the stock for the right reasons.

They just timed it badly!

Such was the case with CQT today...they made a significant announcement today, clearly plenty of reason for a re-rating, which we got...only problem is, the re-rating started a few weeks back.

So what to they do now...sell and cut their loses?

Absolutley not...if you don't have to sell then why do it? I supect one of the biggest problems here is that the instant many people become a shareholder, their mindset shifts into sell mode...this is rediculous!

The re-rating, based on what is officially in the public domain is all but complete in my opinion, with recent activity suggesting likely underlying interest in the low 40's...this should be confirmed within a day or two...as such, current prices effectivley offer the next cheap entry prior to another re-rating.

Given today's announcement was rather conservative, my guess is the next re-rating could be sooner rather than later...all they have to do is be a little more generous with the resource calculations, include a few more holes, extrapolate within JORC guidlines...and of course, incorporate the high grade hits!

We all know one of the most common mistakes made by less experienced traders is to buy at the highs and sell at the lows...give a point or two, anyone who sells at current levels, in my opinion, is selling when they should be buying...or in other words, more or less at the lows.

The time to buy was pretty much every day prior to today's open...just as I have been saying for days...just like NOW is the time to buy once again.

In the end however, virtually any price paid today will not matter in coming weeks...but for those with a trading timeframe in the minutes and hours, I guess it wasn't a good day.

The fundamentals got a whole lot better today...in the meantime however, the market is taking advantage of the unsophisticated types...lol...it can be a little insensitive like that.

If you bought high today and decide to sell low, you have fallen into their trap...if however you can show a little patience, instead of losing 10% or so in a day or two, you could well be reaping profits of 20% or more in just a few weeks.

Think about that...and for god sakes people, stop checking your account balances every 10 minutes...you will never become successful like that!

A very good and realistic explanation!


----------



## Realist (26 July 2006)

stockmaster said:
			
		

> So what to they do now...sell and cut their loses?
> 
> Absolutley not...if you don't have to sell then why do it? I supect one of the biggest problems here is that the instant many people become a shareholder, their mindset shifts into sell mode...this is rediculous!
> .....................................................................................................
> ...




Agreed...


----------



## imajica (27 July 2006)

hang in there guys! there is still a lot of steam left in CQT


----------



## imajica (27 July 2006)

Article in the Brisbane Courier Mail (thought you might be interested)



Strike polishes Conquest's lustre
Liliana Molina  

July 25, 2006

COPPER explorer Conquest Mining continued its upwards run with shares rising another 20 per cent yesterday while other bolters lost their shine.

The Perth-based junior has enjoyed a stellar run on the boards since it announced it had struck commercial levels of copper, gold and silver at its Mount Gibson project near Charters Towers. 

Its shares have almost doubled from 24 ¢ to close at 43.5 ¢ yesterday on very high volumes, a 19.18 per cent jump from its Friday close.

It was the most traded stock on the market with almost 30 million shares changing hands.

Managing director John Terpu was unavailable yesterday but last week said he soon expected more details about the orebody.

Queries from the Australian Stock Exchange have blunted the meteoric rise of other juniors, mostly copper explorers in the Cloncurry region, from earlier this month.

Explorer CuDeco, previously called Australian Mining Investments, has settled back to its trading price before it announced it had a deposit of 59 million tonnes of copper equivalent at its Rocklands Group project near Cloncurry in northwest Queensland.

It was forced to concede the deposit was less than half the size at 25 million tonnes of copper equivalent after ASX queries.

Yesterday it issued another drilling report on the Las Minerales deposit but analysts found nothing of substance.

Its shares fell 15 per cent to close 52 ¢ down at $2.85. It hit a high of $7.11 before shares were suspended in early July.

The frenzy sparked by CuDeco pushed up nearby explorers Universal Resources and Exco Resources; but both have now lost most of their gains.

Universal, which runs a joint-venture project with copper giant Xstrata at its Roseby resource, dropped 2 ¢ to close at 17 ¢. Exco fell 1.5 ¢ to 27 ¢.

One of the other copper kings-in-waiting, Kings Minerals, is expected to come out of a trading halt today after vaulting 20 per cent on news it had assays from four recent holes which ran to 40m at 8.34 per cent copper equivalent.

It last traded at 44 ¢.

Another to feel the force of ASX questioning, about its Kodu deposit in Papua New Guinea, Gold Coast-based Frontier Mining, fell another 2 ¢ to 17 ¢ yesterday, wiping out gains which saw it reach 48 ¢.


----------



## stockmaster (27 July 2006)

Thank, can u find a more recent news, today's one?


----------



## Realist (27 July 2006)

It's getting beaten like a red-headed step child this morning. Down to 39 at one point!

Quick everyone jump, abort, sell, sell,    

But I'll hold and wait for the next announcement, no matter what!!     

(famous last words I know   )


----------



## imajica (27 July 2006)

its so typical of the herd mentality!!! the fundamentals haven't changed yet people are bailing! should stabilise around the 40 cent mark


----------



## Realist (27 July 2006)

Its 39 cents now...


Got the guts to buy some more Imajica?


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## imajica (27 July 2006)

unfortunately all my money's tied up at the moment - would probably put some either into MAR (based on impending drill results) or SRK if I had some on hand


----------



## redandgreen (27 July 2006)

imajica said:
			
		

> its so typical of the herd mentality!!! the fundamentals haven't changed yet people are bailing! should stabilise around the 40 cent mark



What fundamentals?  In this speculative mining business there are no absolutes!


----------



## Realist (27 July 2006)

From  miningnews.net


CONQUEST Mining has upgraded the resource at its Mt Carlton project in Queensland, which includes an update for the Silver Hill prospect where the company previously claimed it had made the "most significant geological discovery to date" at the project.

The company has upgraded the total resource to 308,000 ounces of gold, 13.2 million ounces of silver and 25,000 tonnes of copper, representing a 328% increase in gold, 413% jump in silver and 556% rise in copper.

Conquest said it would immediately launch into a 10,000m reverse circulation and diamond drill campaign in a bid to extend the resource, and has budgeted $A3 million for the program. The company has completed close to 9000m of RC drilling over the past eight months.

At the Silver Hill prospect, the company has calculated and indicated and inferred resource of 3.8 million tones at 1.76 grams per tonne of gold, 82gpt silver and 0.56% copper for 215,000oz of gold, 10Moz of silver and 21,400t of copper.

Earlier this month, Conquest claimed it made the most "significant geological discovery to date" at Silver Hill, discovering a deposit containing commercial mine levels of gold, silver and copper.

However, the company said hole HC06RC39 which hit 28m at 4350gpt silver, 0.71gpt gold and 5.9% of copper from 53m west along the Silver Hill prospect vein zone was not included in the resource update.

Conquest said the mineralisation at Silver Hill appeared to be a flat lying strata-bound unit, continuous and predictable in nature beginning at a depth of around 30m below surface.

The junior said the new discovery at Silver Hill indicated that substantial exploration potential exists in the general area around the prospect and the Herbert Ck East prospect 1km to the north.

Conquest said less than 20% of the magnetic alteration target area has been drilled. 

Shares in Conquest gained 5.5c (13.4%) during morning trade to 46.5c, capitalising the company at $A65 million.


----------



## redandgreen (27 July 2006)

for my part, I have great diffficulty understanding the implications of this information and how it relates to the SP.
Once I begin to understand, maybe then, I will "invest"
"Fundamentals" are generally associated with an investment strategy.


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## Realist (27 July 2006)

redandgreen said:
			
		

> for my part, I have great diffficulty understanding the implications of this information and how it relates to the SP.
> Once I begin to understand, maybe then, I will "invest"
> "Fundamentals" are generally associated with an investment strategy.





Let's be clear, this is not an investment make no mistake about it. This is a punt!  

Imajica, Nicks and I see more upside potential than downside potential so we are taking the risk by holding this company. We can of course come unstuck and lose all our money or we could profit handsomely. We are not investing.

I'm sure if this goes belly up everyone here will say "I told you so, sucked in".

And if it soars I'm sure everyone will say "You got lucky, just a fluke"

The "Fundamentals" as such are speculative estimates of course.  This company has the potential to have a resource of over $1B worth of gold, silver and copper.  Recent estimates show it has a reasonable chance of having $800M already. Made up of $255M in Gold, $190M in Silver, and $255M in Copper. The market cap is about $60M now.

I'll hold and wait, hope and pray for the next announcement, simple as that.   

What also gives me a bit more confidence is the ASX is being particularly fussy with announcements recently, it is questioning mining companies in great detail after the AUM debacle.

CQT has potential there is no doubt. Whether that is realised is to be determined.


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## stockmaster (27 July 2006)

Beautiful explanation, that is the correct situation. It is like a bet, and not investment!


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## Realist (27 July 2006)

CQT is now getting beaten like a narc at a biker party.  Down to 38 cents! 

Market sentiment at it's best.

Traders pulling their stops all over the place..     

I suspect alot of the sellers bought yesterday at 50 cents!!


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## Brissydave (27 July 2006)

I think you could be right Realist ...about the sellers buying at 50 yesterday ... but if I had any spare cash I would probably buy more instead of selling out ... but no cash ... so I will just hold at 48c.

I actually feel that the CQT management will be a bit "under excited" about their finds, after seeing the hammering CuDeco got for being "over excited" ... so I see, or hope to see, frequent small anouncements, taking this stock more slowly towards it full potential. This is not a wham, bam, thank you ... type of stock but more of a steady relationship type of stock .. so if your holding, great, keep holding ... I just wish I could buy more (maybe I'll find a way tomorrow)

Cheers ... a happy holder ... Dave


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## stockmaster (27 July 2006)

hahaha, yah, try margin lending.

Yah, bought the on the last sec, doubling my holding from yesterday.

I believe CQT is doing the right fing, not overvaluing itself be4 announcing some terrible news. They are very conservative and stating wat they "actualli" find not load of rubbish. So i am keen to wait on this share, i believe 4th quarter cashflow shall be out soon, this may boost the share more towards 50c, and then some profit-taking be4 another drilling report which may push the price further. Tomorrow will be an interesting day CQT.   

(I am not ramping, i am js expressing my own opinion, so please dun suspended me. Thanx)


----------



## stockmaster (27 July 2006)

Anyone noes the difference between CQT and CQTO, and if i sell CQTO, can i use the capital to further investor in that share or do i need ot wait till 31 of Dec, thanks in advance!


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## Realist (27 July 2006)

Okay so today it dropped like a Vienna Boy's Choir reject.  Purely on market sentiment and moronic traders buying high and selling low.   

But the ultimate is to be able to hold this bugger for a year or more, halve our taxes etc.

I just can't wait for the next announcement.    .  

Any guesses of what it may say?  

Hopefully not "Sorry we tested the wrong sample, CQT's sample was actually 90% dirt, and 10% poo".


----------



## stockmaster (27 July 2006)

Realist said:
			
		

> Okay so today it dropped like a Vienna Boy's Choir reject.  Purely on market sentiment and moronic traders buying high and selling low.
> 
> But the ultimate is to be able to hold this bugger for a year or more, halve our taxes etc.
> 
> ...




No, more like 90% gold, 10% silver, jk, hahaha   
i fink next ann is Q4


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## imajica (27 July 2006)

just out of interest what do fellow Conquest holders do for a living?


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## Joe Blow (27 July 2006)

imajica said:
			
		

> just out of interest what do fellow Conquest holders do for a living?




Imajica, lets try and keep threads on particular stocks *on topic*. Thanks!


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## kariba (28 July 2006)

Found its bottom today IMO ... Buyers jumping into the options during the last hour ... Following that pattern I reckon we will see an up day tomorrow & a little less volatility from here.

Cheers


----------



## Realist (28 July 2006)

Well CQT is getting beaten like an anorexic street fighter again this morning.

Down to 37. And alot more sellers than buyers.

But saying that the market has started down in general and I suspect some dipsh*t traders who bought around 50 cents have been stopped out of this one.

Quite simply we have to wait till the next announcement now.  Patience!


It should recover slightly today - the ASX will be flat I'd think matching the DOW and despite Friday avo's being poor recently.


----------



## donjohnson (28 July 2006)

Hi All, I got into this on my first ever trade. Bought in at 46.5c, like a true amateur I pulled the trigger even after my gut had called a taxi and flung off the other way.

Anyway, its a tiny punt, and more of a learning experience to me. Up to 41.5c at posting, go you good thing, reward my punt!

Cheers...


----------



## Realist (28 July 2006)

donjohnson said:
			
		

> Hi All, I got into this on my first ever trade. Bought in at 46.5c, like a true amateur I pulled the trigger even after my gut had called a taxi and flung off the other way.
> 
> Anyway, its a tiny punt, and more of a learning experience to me. Up to 41.5c at posting, go you good thing, reward my punt!
> 
> Cheers...





Well it may not be a bad purchase...

Only time will tell. Good luck.


----------



## Absolutely (28 July 2006)

Yeah I think that it could pay off to hold these for the long term.

There is so much discussion as to what these shares are actually worth and many are placing their value a lot higher then they currenlty are. But of course it is all speculative.

Worried I was going to miss out I tried to pick the bottom of the recent reversal and I  bought in late yesterday at 38c. I am comfortable with that at the moment.

I think another ann soon could see the share price comfortably above DonJohnsons purchase price.


----------



## ALFguy (28 July 2006)

Is it me or do we see an upward movement of CQT when the markets moving down and a downward movement when the markets are on the way up???

Looking more stable now


----------



## donjohnson (28 July 2006)

It looks to me like the junior miners I follow are having a pretty good day all round. 

AEX, ARH, AKK, CDU, FNT, MAR, and MWE are all up at the moment. No real major gains - but all showing between ~3 to ~10%.

Not that i'm complaining...


----------



## imajica (28 July 2006)

Glad u guys are still holding! I was contemplating selling this morning but something told me to hang on to them. I think in the medium term these will be a great investment. as new drill results flow through and the rest of the magnetic anomaly is tested (and we have a JORC measured resource) we should see a steady appreciation in the share price!!


----------



## imajica (30 July 2006)

apparently there will be announcement next week regarding the company's plan of action over the next quarter.


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## Realist (31 July 2006)

Well it is up a little today.  Comfortably around or above 40 cents.

So we just gotta sit back and wait for the next couple of announcements I think. Then reasses.

Can this supposed $700M of gold, silver and copper become bigger? Or will it shrink?


----------



## stockmaster (1 August 2006)

The cash flow report is out today, does it indicate any captial raising issues? 

Fanx in advance


----------



## imajica (1 August 2006)

1 bidder this morning for 500,000 at 42.5 cents

Nice! lets hope its not a fake bid


----------



## donjohnson (1 August 2006)

Fourth Quarter Cashflow & Activities Report

Report is out this morning. I'm pretty new to this game, but having read a fair bit about mining reports etc over the past few months I would say the most interesting aspects of this report are:

1> The HC06RC39 exploration hole was not included in the resource estimate issued earlier this month. 

This exploration hole "intersected a spectacular zone of suplhide minerilaztion from 53m depth with 28m @ 4350g/t silver, 0.71g/t gold, and 5.9% copper"

2> The closest exploration hole to RC39 is RC31 which also shows a high silver content, hopefully backing up the finds in RC39.

Anyway, I look forward to hearing their next resource estimate. The next quarter should be interesting.

Report Here 

Cheers,


----------



## stockmaster (1 August 2006)

imajica said:
			
		

> 1 bidder this morning for 500,000 at 42.5 cents
> 
> Nice! lets hope its not a fake bid





It will be nice, but hard to believe it will be true, hope there is some support to that bidder. Note: Often CQT rise when market is in red and fall when market is in green. 

Base on chart, the share is fairly stable, and a rise today will further stabilise its position.


----------



## BillyGoatGruff (1 August 2006)

Not sure if they'll need a cap-raising in the short-term as they have 1.6 milllion in cash and are spending around 375,000 a quarter.  Plus those Kimberley tenements have got to be worth something.


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## donjohnson (1 August 2006)

500,000 buy went through first thing this morning, lets see what the market thinks today. 

Anyone have any idea when they will update their resource estimate? 

Mirror mirror on the wall?


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## Realist (1 August 2006)

It's getting beaten like a full Pinyata today, down to 39.

I'll anxiously wait for the next announcement. 

If the next announcement is good and the price does not go up, or god forbid falls, or the next announcement is bad - I'm out.


----------



## Realist (2 August 2006)

Yeeeouch 36.5 now.  And heading to a close around 36 me thinks.

Still holding though.

Nervously.


----------



## donjohnson (3 August 2006)

I'm holding in there too - let the announcement come!


----------



## Brissydave (3 August 2006)

Just gotta love this ... quoted from another forum

_______________________

This afternoon i rang Bruno Firriolo from cqt.Ispoke to him for 30 minutes about cqt's 4th qtr cash flow and activities report and asked him to if he would answer some questions that i believed needed clarification.
question 1
why was hole HC06RC39 not included in calculations

answer

The hole was not included because of its situation on the map being on the outskirtsof other holes dug.If this hole was situated in the middle of all the other holes it would have been included.But considering that the grades,width,depth were so spectacular and the hole ended in mineralization.The company decided not to calculate the resource in until further r/c drilling is done.
But decided to err on the side of being conservative in regards to the negative attention other companies had attracted from asics,asx,media.Keeping our ann 100% jorc compliant.

question 2
regarding finances.Does cqt have enough money to fund the round of drilling.


answer

We have around $1.6 MILLION 
Budgeted exploration cost for the September 2006 quarter is limited to
$860,000 because most of the residual costs for drilling, assaying and metallurgical
test work are expected to be paid for in the December 2006 quarter.The company expects option holders will be converting thier options to fully paids giving cqt a healthy bank balance. 

I think that answer puts some light on weather weather there will be a cap raising or not

question 3
company view on the project

answer
If we were not very optimistic we would NOT be spending another $3 million dollars and commencing immediately.

Well i hope this answers a few questions for people and also puts a end to some of the rubbish that is being spun.

_ebit

_____________________________

Certainly answered a few of my questions .... bring on that rocket 

Cheers ..... Dave

PS. ... I'm all for inflation ... just check out my new avatar

PPS. If I accidentally make some money or get some information right ... it is just that, an accident ... so don't follow my lead .. do your own research.


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## donjohnson (3 August 2006)

Shot up to 40.5 this morning... hopefully good things happening.

However, i've noticed that my entire watchlist is in blue this morning, so everyones enjoying a good day.

ARH, AKK, and CQT all flying well this morning.


----------



## yogi-in-oz (6 August 2006)

Hi folks,

CQT ..... as requested, here's a quick overview of our
astroanalysis, over the coming months:

August 2006 ..... overall a very positive month ..... 

     15082006 ..... positive spotlight on CQT

     23082006 ..... minor and positive

     24082006 ..... positive news expected here

     28082006 ..... pullback  likely, as a difficult cycle arrives.

     31082006 ..... positive cycle ..... finance-related???

September 2006 ..... negative overall, especially in latter half.

October-November 2006 ..... flat-to-down overall.

December 2006 ..... another very positive month expected.

More later .....

happy days

  yogi


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## Brissydave (7 August 2006)

Just looking back at recent announcements ..... drill results and resource updates etc. .... the announcements have (at least recently) been coming app. every two weeks. So if the cycle continues, and that's the time they take to drill the holes ... we should be in line for another announcement mid this week.

I have liked the way CQT management have underplayed their announcements, after the CuDeco hype backfiring on 'them', ... this low key approach and the avoidance of media hype would actually seem a positive.

Cheers ... Dave

PS Holding ... and real glad too.


----------



## Realist (7 August 2006)

I agree Dave, the announcements are underplayed if anything, compared to other recent announcements from AUM etc..  I'm still holding....nervously.


----------



## havingfun (8 August 2006)

Realist ...... i wouldnt b nervous yet if i were you......while they are still prepared to buy the option for up to 20c,with a 20c exercise price, anything under 40c for stock looks perfectly safe.Just keep an eye on the option best sign for weakness or strength........but i dont think youll have to worry with these..


----------



## Realist (9 August 2006)

It is 34 cents now!!      

If I did not have balls of steel and a very small brain I'd either sell, or jump from the nearest tall building.

Traders are jumping, stop losses are being hit. It'll be all bad news till the next announcement which will make or break this me thinks.

But this all leads me to conclude one thing.  It is a buying opportunity, 34 cents is cheap considering what we know about this company.

They probably have $700M in copper, gold, and silver.  The market cap is $48M.

It seems the share price is being penalised for the directors making conservative announcements.  The exact opposite of CDU.  

I'll hold on much like the captain of the Titanic did.

Anyone got any comments?


----------



## Makavel (9 August 2006)

yer the sellers are definatly coming online.

dont forget the aus market is down a bit 70 odd point (i mean yet again comes back to fundamentals and belief in the stock)

dont jump ship they will soften but just wait.


----------



## Realist (9 August 2006)

Makavel said:
			
		

> yer the sellers are definatly coming online.
> 
> dont forget the aus market is down a bit 70 odd point (i mean yet again comes back to fundamentals and belief in the stock)
> 
> dont jump ship they will soften but just wait.




Agreed, it is market sentiment, and emotion riding the waves at the moment.

Despite the Australian economy forging ahead nicely on the still happening resource boom, house prices in the Eastern states softening, unemployment low, nice tax cuts, and companies announcing large profits and nice big dividends, and the ASX being 10% less than it was 3 months ago. All we hear about is interest rates and petrol and banana prices.


----------



## Makavel (9 August 2006)

funny you say banana im just eating one lol

but yer just wait dont become a sheep or drop the piano from the top floor just yet


----------



## Realist (9 August 2006)

Makavel said:
			
		

> funny you say banana im just eating one lol




   Ohh man, sorry I did not know you were so rich!!

I am not worthy!     :nono:


----------



## Makavel (9 August 2006)

haha its just a banana lol

mm maybe ill eat the skin aswell


----------



## Nicks (10 August 2006)

CQT UP 7% - LOOKS LIKE THE NEXT RUN IS STARTING!!!


----------



## Realist (10 August 2006)

Nicks said:
			
		

> CQT UP 7% - LOOKS LIKE THE NEXT RUN IS STARTING!!!





Let's hope so Nick.   As someone said before CQT announcements seem to be fortnightly, the next one must be soon, and from the conservativeness of previous announcements this one is unlikely to severely dissapoint and will possibly be very positive news.

It is only up 2.5 cents today, to me that means nothing.

Infact the price is irrelevant at the moment, the next announcement is what matters.

Fingers crossed.


----------



## globalreverb (10 August 2006)

There could be a possible announcement regarding uranium tenement acquisition. When this is announced is obviously completely up to management.  This info has been in the marketplace for over a month now, but I guess CQT are waiting for an oportune time to release. Until this occurs, it is nothing more than speculation, and should be treated as such

Global.


----------



## Realist (10 August 2006)

globalreverb said:
			
		

> There could be a possible announcement regarding uranium tenement acquisition. When this is announced is obviously completely up to management.  This info has been in the marketplace for over a month now, but I guess CQT are waiting for an oportune time to release. Until this occurs, it is nothing more than speculation, and should be treated as such
> 
> Global.




 

I need some Good news, have not had any for a while.    


Well it is up another cent... So we'll see.


----------



## donjohnson (11 August 2006)

Looks like CQT may have hit the bottom and is rebounding nicely. Hopefully it will close above 40c tonight and look to continue the climb next week.

Buyers are building.


----------



## Realist (16 August 2006)

36.5 cents now.     

Starting to worry me.   Alot of traders would have pulled out now, or been stopped out.

When is the bloody next announcement coming...


----------



## stockmaster (16 August 2006)

The ann is out, but not pleasing. Share price pull bak after this release, we shall see further drop and may drop to 28c be4 a rebound. Long term still looking good!


----------



## stiger (16 August 2006)

My broker said there would be pullback to 28-29c pending new drilling results so I am still waiting.


----------



## stockmaster (16 August 2006)

yogi-in-oz said:
			
		

> Hi folks,
> 
> 23082006 ..... minor and positive
> 
> 24082006 ..... positive news expected here




 8 more days to wait,


----------



## Realist (17 August 2006)

Well I do not agree that the announcement was not pleasing, it was neutral. They sold some WA land for half a mill, which aint bad news at all.

CQT is one of the biggest land owners in QLD.  It looks like they have a sh*t load of Gold, Silver and Copper.

I will hold, nervously....     

But I agree that some unpatient people may pull out and the price may fall, 28 cents is not a bad estimate.  But I'm in this for the long run.

The company seems well run, conservative, they have excellent land holdings with good resource estimates.  It aint overpriced for what it has.

(Damn I aint much of a trader, I just can not bring myself to sell   )


----------



## Realist (21 August 2006)

Up 2.5 points today.


----------



## donjohnson (22 August 2006)

Up another 2.5 today, sellers thinning... 

Hopefully we'll see this hold above 40c until the next announcement.


----------



## hector (22 August 2006)

travelling well again this morning, I'm holding


----------



## donjohnson (22 August 2006)

State One Stockbroking - Stock Focus on CQT:

http://www.conquestmining.com.au/news.php?type=3

EXTRACT:

"Rough preliminary calculations indicate that the project has the potential to produce 120,000oz AuEq per annum utilising a 1.0mtpa plant (55,000oz Au,
1.45moz Ag & 4,500t Cu) at a cash cost of A$400/oz AuEq.

On a gold only basis and treating the silver and copper revenues as by-product credits, the cash cost becomes negative. Due to the complex mix of gold, silver, copper, and zinc, the metallurgical process will form a critical element of a feasibility study.

Investment Case:

With the strong likelihood of further impressive drilling results and resource increases at Silver Hill we believe there is little risk purchasing CQT below 40 ¢, and believe that if the resource at Silver Hill can be doubled to 1.0m ounces AuEq over the coming months, a valuation closer to 60 ¢ would be more appropriate.

We are forecasting a continuing rise in CQT's share price on the back of ongoing step-out exploration drilling and infill diamond drilling. We believe news flow should be fairly consistent going forward with drilling results announced at least monthly".

DYOR


----------



## donjohnson (23 August 2006)

Up to 44c today, looking good to hold above 40c till the next ann. Who knows, she might even break into the 50's.

From a TA stand point is looks like there have been a few buy signals over the past weeks.

Points to note:

1> The RSI is fairly high. 

2> The parabolic SAR has just switched from a downtrend to an uptrend. Personally I don't put a great deal of belief in this type of indicator.

3> 9 Day SMA broken last week.

4> 20 day SMA broken this week.

5> 20 day EMA has never been broken since the first run.

6> Just broke the upper envelope of the 20 day bollinger band.

I'm new to share trading, and technical analysis so don't go betting on the newbie - DYOR.


----------



## Sean K (23 August 2006)

Looks OK to me DJ.


----------



## aobed (23 August 2006)

donjohnson said:
			
		

> Up to 44c today, looking good to hold above 40c till the next ann. Who knows, she might even break into the 50's.
> 
> From a TA stand point is looks like there have been a few buy signals over the past weeks.
> 
> ...




Hi there..

As another newbie, can I ask which resources you used to find information on the above indicators?  I'd like to learn more about these types of indicators so I can form a set for myself to use.


----------



## Sean K (23 August 2006)

ASX charting guide for a start, and then just google the relevant terms and you'll get more info than you can chart a sticK at!

Good luck.

http://www.asx.com.au/research/charting/library/index.htm


----------



## donjohnson (23 August 2006)

John Murphy's Ten Laws of Technical Trading at www.stockcharts.com is nice and easy to understand and outlines some of the major indicators out there.

Cheers...


----------



## NettAssets (23 August 2006)

Don't forget the help section in your own charting software.

Most of them have a pretty good reference as close as F1
John


----------



## donjohnson (25 August 2006)

Share price 44c when posting... 

"Market Update
25 August 2006

MT CARLTON DRILLING PROGRAM

Further to our last announcement to the ASX on 16 August 2006 Conquest Mining Limited (ASX Code: CQT) advises that it has progressed its drilling program with two rigs at Silver Hill. A diamond core drill rig has been engaged to duplicate recent high grade gold and silver intersections, and reverse circulation drilling seeks to extend the resource. 

Diamond drill holes HC06DD004 (parallel to hole HC06RC39) and HC06RCD58 (parallel to hole HC06RC53) have been completed and drill core samples will be dispatched to the assay laboratory mid next week. A 24 hour shift for the diamond drill rig is scheduled to commence shortly. The reverse circulation percussion drilling rig has completed 3 exploration holes and a scissor hole in hole HC06RC39 is in progress.

Drilling is planned to continue for the remainder of the year with the objective of defining the extent of the new Silver Hill deposit.

SALE OF TENEMENTS

Conquest is pleased to announce that it has recently completed a sale transaction with Northern Resources Ltd for the sale of 5 non-core Queensland tenements (EPM 14944, EPM14946, EPM 15512, EPM15531 and EPM15532). In keeping with the company’s objective of progressing its Mt Carlton project, the disposal will allow the company to direct its personnel and material resources to the current gold/silver/copper development. As
consideration for the sale, Conquest will receive 5 million fully paid shares and 5 million options in Northern Resources Ltd. The purchaser proposes to combine these tenements and other assets in a new IPO. 

John Terpu
Managing Director"


----------



## Realist (25 August 2006)

The news above has no information about their resources, and that will be at least 2 weeks by the sounds of it. But it is nice to see they are continuing to sell land, they have alot of land to sell. And again they seem to be doing things prudently and conservatively.

Still holding and hoping....


----------



## donjohnson (28 August 2006)

CQT in a trading HALT as of this morning... one would estimate this is because drilling results are pending...

Hopefully they're of excellent quality.


----------



## Realist (28 August 2006)

Well I wont get excited, or count my chickens, but news is on the way, I just hope it is excellent news..

Holding, nervously.


----------



## aobed (28 August 2006)

Realist said:
			
		

> Well I wont get excited, or count my chickens, but news is on the way, I just hope it is excellent news..
> 
> Holding, nervously.




You beat me to it... yes, holding and hoping as well.  They've had a nice little run recently


----------



## x2rider (28 August 2006)

hi folks 
 Gee I hope this will be good news . I have had a bit of a bad run when it comes to stock going on a trading halt and then being relisted .  
 Maybe a takeover . ? If Auslect can't get Sedimentry maybe they will try another player . 

At least they put that halt in on Monday and didn't leave us dangling over the weekend .
 Cheers


----------



## stockmaster (28 August 2006)

I fink, most people expect a good report and a lot of good result about drill. 

The question will be how good is the result, above the expectation? Also will the result provide more opportunity for further result after an opening rise. We often see price rocket and then full bak. I believe it has a good potential at least till the end of this yr, a lot to look for!


----------



## stiger (29 August 2006)

They are raising cash is all.     :       dyor


----------



## Realist (30 August 2006)

Capital raising of $3.75M.

No other good news..     

Shares stay at 40.5.


----------



## aobed (30 August 2006)

any reason why the shares would drop by 10-11 % based on the capital raising?  Is it because the market was expecting a drill result or is a share price drop normal after a captial raising?


----------



## Realist (30 August 2006)

The capital raising was done by selling millions of shares at 35 cents each.

It is bad news... not the good news that we hoped for.


----------



## dbs0810 (30 August 2006)

Well I reckon the whole thing stinks. 

Back on the 16th they reckon there was no need to do a capital raising excercise. 

And given that the share price has been hanging around the 40 cent mark, why 35 cents? 

And why was no offer put out to us shareholders to partake in this raising.

Also they have +70M options at 20 cents coming out in December.  

Not happy as it smells of good rates for mates.


----------



## dbs0810 (30 August 2006)

Hmmm well things did better than what i thought they would. 40.5 is not a bad close. Still waiting for these results to come, and hope they come before december as i want to take profits before the 70 odd million options come onto the market.


----------



## Realist (30 August 2006)

I gotta admit I think it smells a bit funny to, I may indeed sell soon.


----------



## havingfun (30 August 2006)

Realist said:
			
		

> I gotta admit I think it smells a bit funny to, I may indeed sell soon.



Bin them , too many other good things to go on,like a failed relationship, kiss it goodbye,dont stalk it....


----------



## Realist (30 August 2006)

I don't think it is that bad, but I have concerns after the past week's debacle.


----------



## stiger (30 August 2006)

Realist said:
			
		

> I don't think it is that bad, but I have concerns after the past week's debacle.



I posted last night that they were chasing bucks ,after all drilling in volume is exy.It will be all good news  from here. IMHO.  dyor


----------



## dbs0810 (30 August 2006)

Well that may be true, but for the fact that 15 days ago it reckons there was no need to raise capital as the loan, sale of land, and cash on hand meant it was fine until october at the earliest. So what has happened to make the need to raise capital so soon after that announcment? No explanation given.

And who are the "high net worth investors"?


----------



## Prior Art (31 August 2006)

All speculation aside about who the shares were sold to and why it was at 35c - one thing to keep in mind is that the money raised is being used for drilling - drilling that will prove up a resource that everyone can see has significant potential - if it didn't they would not have been able to raise the funds so easily.

Raising funds from shareholders would have been great but the process is long and drawn out in comparison to raising from instos.

All we need now is some positive drilling results and things should get very interesting!


----------



## Realist (31 August 2006)

35c is more than I paid, and I suppose it gives a certain floor to the stock.

Instos must have done their maths first. So if they pay 35c you'd think it is worth at least 20% more than that - why buy them otherwise?

So I'll continue to hold.  Not nervously now because of the 35c floor.

Same goes with MTN the takeover bid of 68c gives it a nice floor.


----------



## donjohnson (4 September 2006)

dbs0810 said:
			
		

> Well I reckon the whole thing stinks.
> 
> Back on the 16th they reckon there was no need to do a capital raising excercise.
> 
> ...




All your comments would be fair if CQT had continued along the planned drilling schedule. Since the 16th they've begun drilling 24/7 - i'd imagine thats around twice the typical drilling time and therefore would require extra funding. 

As it is, we've seen a placement now that will top them up till next year, that means the only news that should be coming out from now on is about drilling results.

Its still worth noting that hole 39 has not been included in any resource upgrade as of yet, and they are drilling holes around this area to firm up resource estimates. Either way we should hear good news in the coming months.

Cheers...


----------



## Ken (14 September 2006)

I got in on CQT at 9 cents.

I only boght a very small amount. i had no idea they were going to go boom town. 

not blowing my trumphet but the confidence shown by investors is pretty high considering its not producing anything yet.

There are plenty of other mining companies out there who have the same goals and aspirations to enter production.


It's amazing how some just take off.


anyone got next months stock report... the things you'd do for tommorows paper


----------



## chennyleeeee (20 September 2006)

Realist said:
			
		

> The capital raising was done by selling millions of shares at 35 cents each.
> 
> It is bad news... not the good news that we hoped for.




I dont see anything bad about a capital raising. If they dont sell it at a discount then why on earth would anyone want to invest in CQT? AT least this way the insto's can be safe in the short term if they want to bail. Dilution isnt that bad in this situation also.

CHEN


----------



## Nicks (28 September 2006)

Capital raising is a good sign, it means they need money to invest in the business with the prospects of a return with a higher NPV. In other words, they think that for every dollar they are investing now, they expect more than that back based on what CQT do with it (and a lot more as they [investors] could invest the money elsewhere with less risk, just like us). WOuldnt suprise me if this stock is worth over $1 next year.


----------



## Realist (28 September 2006)

Well I hope you are right guys.

But the other way to look at it is, they have run out of money and need to raise capital just to keep going for a few more months, the company value gets dilluted, and other new people get in cheaper than the existing investors.

It is not good news, hence the share price fell a bit...


----------



## Ken (28 September 2006)

i reccomend a strong selll so i can buy more....


----------



## Realist (29 September 2006)

Haha, that is the attitude Ken.


----------



## donjohnson (6 October 2006)

Hopefully some news out next week, fingers crossed.

Seems to have found a fairly solid level of support at ~40c.


----------



## Ken (6 October 2006)

few more legs in this one...

hold.....


----------



## Realist (7 October 2006)

Yeah 46c now, looks promising!


----------



## Sean K (7 October 2006)

Needs to hold above $0.45 and then test it as support to be moving much higher. Little bit of extra volume yesterday. Might be moving upward and onward...What did you enter this at Realist? $0.15 I hope.


----------



## Realist (7 October 2006)

kennas said:
			
		

> Needs to hold above $0.45 and then test it as support to be moving much higher. Little bit of extra volume yesterday. Might be moving upward and onward...What did you enter this at Realist? $0.15 I hope.





26 cents.

I bought some more at 44.5 though, don't ask why.   

Still I am well up!


----------



## donjohnson (9 October 2006)

Just took out 47c.

And after getting caught purchasing at the peak of the last run at 46.5c I am finally in the black!

Awesome, love it when the hold pays off.


----------



## Nicks (9 October 2006)

donjohnson said:
			
		

> Just took out 47c.
> 
> And after getting caught purchasing at the peak of the last run at 46.5c I am finally in the black!
> 
> Awesome, love it when the hold pays off.




Pays off more if you keep holding. This stocks going to go up. They all follow this trend, all of the small cap miners I have held over the last 2 years, PDN, AVO, SRK, and now CQT.

I think its because they are not just hype, there is some real underlying fundamental global issues why the miners will keep moving, global supply and demand. The other factor they need is real dirt, real potential or actual production realisation. All these stocks Ihave just listed seem to have these.


----------



## stockmaster (9 October 2006)

It takes time, but under current situation, it is very hard to see it surpass the 50c mark - which is a start!


----------



## Ken (9 October 2006)

it has risen from a 52 week low of 4 cents....


----------



## Nicks (12 October 2006)

Somethings brewing for sure, up yesterday and today up almost 7% already!


----------



## donjohnson (12 October 2006)

Still climbing, hope for a solid close.


----------



## Realist (12 October 2006)

Yeah 49c now and alot of buyers!   :


----------



## x2rider (12 October 2006)

hey realist

 keep that rocket on the ground 

Cheers martin


----------



## Ken (12 October 2006)

cqt continues to rise.  all on no announcements.  

surely they deserve a speeding fine, lets face it few people are getting filthy rich..


----------



## justjohn (16 October 2006)

Realist you promised us some rockets when CQT reached .50 :band  :bananasmi


----------



## Povesa (16 October 2006)

justjohn said:
			
		

> Realist you promised us some rockets when CQT reached .50 :band  :bananasmi




It has already reached .52 on Friday midday...


----------



## Nicks (16 October 2006)

CQT and CQTO - its all happening tomorrow.
Masive orders executed on both in the last 2 mins of trade.
Its all on tomorrow. Its obviously about to come. Thankfully im in on both still.


----------



## x2rider (16 October 2006)

hey nicks 
 Yeah I wondered where that volume went . I had a couple of orders in today . One filled but missed out on the other  
 Accumulation is the name of the game with this one . I don't think 50c will be all that hard to get past now that it breezed past it before .

 Been holding for a while now but glad I have 

Chers martin


----------



## Realist (16 October 2006)

When it hits $1 I'll post some rocket pictures..


----------



## Nicks (17 October 2006)

Reallist, I like the Rocket this time (it was a bit big last time). 

Can you please put it back up the rear end of CQT where it belongs today.

Seriously, the demand is clearly there, all things being equal we know the pattern is there for this to move quickly. I have seen this on stocks I have got into like avo, srk, pdn and think cqt will as well, due to it operating in a pro mining market, high commodity prices and actual real fundamentals to back it, real operations which will equal real income.


----------



## x2rider (17 October 2006)

hi folks 
 Check that news out .,. Get out the rockets 

 Cheers martin


----------



## donjohnson (17 October 2006)

wooooooooooohooooooooooooooooooo 

ASX RELEASE

17 October 2006

New Drilling Doubles Area of Commercial Mineralisation
Conquest Mining Limited is pleased to announce that the recent discovery known as the Silver Hill Deposit has been substantially extended to 750m strike length. Significant mineralisation has now been intersected over an area of 20 hectares and doubles the previously reported area of commercial mineralisation. 

In addition, recent diamond drilling has now demonstrated that the gold  mineralisation at V2 not only has strong strike extension, but huge depth potential as indicated by a massive intersection in hole HC06RCD059 of 81 metres @ 2.78 g/t gold from 85 to 166m depth. Uninterrupted drilling with two rigs (one diamond core and one reverse circulati on) has continued in line with projected targets. In the last 2 months 5,426 m of RC and 1,409m of HQ triple tube core has been completed for a total of 45 RC holes and 11 diamond holes.

Priority targets have included drill extensions around the high grade silver intersection in hole HC06RC39 (previously reported as 28m @ 4,350 g/t silver, 0.71 g/t gold, and 5.9% copper), and around the high grade gold intersections in hole HC06RC53 and in hole HC06RC74 (Figure 1 below).

*Drilling near hole HC06RC39 has confirmed the high grade nature of the mineralisation and will allow inclusion of this material in the next resource estimate in the current quarter*. Drilling has also extended the mineralisation west 100m, and surprisingly also to the north west. At the western end the mineralisation is deeper with holes ending in mineralisation.

Managing Director, John Terpu, said “so far we have tested only 30% of our 1 kilometre circular magnetic target and the continued expansion of the deposit confirms the substantial potential of this project”. As previously reported, the mineralisation occurs predominantly in a flat lying unit with high grade zones occurring near the intersection with major structures. Additionally, recent
holes at V2 hill are now demonstrating considerable depth extension to the north and east.

*HIGHLIGHTS*
Near hole 39
Diamond drilling at hole HC06DD004 (to twin hole HC06RC39) has confirmed the high grade with an intersection of 21m @ 1864 g/t silver and 3.52%copper. This is within a 59m zone that averaged 777 g/t silver and 1.31% copper (Table 1 below).  Reverse Circulation (RC) drilling has extended the mineralisation west 100m along the vein zone with holes HC06RC77 and 84. Both holes ended in significant mineralisation and respectively intersected 38m @ 191 g/t silver and 10m @ 105 g/t silver. At the western end the alode is deeper with mineralisation not intersected till 92m depth (10m @ 105 g/t silver). Hole 84 ended in mineralisation at 102m depth.
Hole HC06RC78 drilled 80m to the north west intersected 24m @ 190 g/t silver. Combined with the intersection in hole 84, this opens up the immediate resource potential to the northwest.

Near hole 53
Two holes were drilled under the hole HC06RC053 high grade gold zone. The first, hole HC06RCD058, was drilled parallel to duplicate the original intersection. An intersection of 38m @ 8.42g/t gold, 44.5g/t silver, and 0.86%copper resulted. The zone was extended north down dip with hole HC06RCD059 and intersected a massive 81m @ 2.78 g/t gold from 85 – 166m depth. These holes demonstrate considerable depth potential under V2 Hill.
Near hole 74 As recently announced, hole HC06RC74 and adjacent holes 72 and 73B intersected large widths of gold grade with good silver and copper grades. Hole 74 intersected 37m @ 4.93 g/t gold, including 22m @ 8.09 g/t gold; hole 72 intersected 33m @ 1.89 g/t gold; and hole 73B
intersected 31m @2.34 g/t gold. In combination with previous hole HERC83 (16m @ 1.16 g/t gold and 4m @ 4.63 g/t gold) this section adds substantially to the resource and exploration potential on the east side. 

Diamond holes will be drilled on a 25m line spacing in this area to provide detailed geology and assays to compare with reverse circulation percussion holes. Figure 1 : Drill Hole Location Plan
Table 1: October 2006 Significant Drill Intersections
Drill Hole Coordinates Significant Intervals
AMG N AMG E
Silver Hill and V2 Prospect Area
RC Holes
HC06RC072 * 7758150 559075 103-136m; 33m@ 1.89g/tAu, 32g/tAg, 0.37%Cu
incl 103-114m; 11m@ 4.40g/tAu, 63g/tAg, 0.72%Cu
HC06RC073B 7758102 559065 105-136m; 31m@ 2.34g/tAu, 7g/tAg, 0.14%Cu
HC06RC074 * 7758050 559065 79-116m; 37m@ 4.93g/tAu, 6g/tAg, 0.06%Cu
incl 79-101m; 22m@ 8.09g/tAu, 7g/tAg & 0.09%Cu
HC06RC075 7757752 558596 24-44m; 20m@ 0.01g/tAu, 110g/tAg, 0.08%Cu
65-71m; 6m@ 0.08g/tAu, 79g/tAg, 0.12%Cu
HC06RC076+ 7757749 558596 44-48m; 4m@ 0.12g/tAu, 28g/tAg, 0.01%Cu
60-68m; 8m@ 0.01g/tAu, 41g/tAg, 0.01%Cu
104-124m; 20m@ 0.10g/tAu, 43g/tAg, 0.09%Cu
HC06RC077+ * 7757793 558550 56-94m; 38m@0.23g/tAu, 191g/tAg, 0.11%Cu
HC06RC078+ 7757840 558550 60-84m; 24m@0.01g/tAu, 190g/tAg, 0.09%Cu
HC06RC079+ 7757840 558588 76-80m; 4m@ 0.08g/tAu, 24g/tAg, 0.02%Cu
HC06RC080 7758000 559065 45-56m; 12m@ 0.62Au, 6Ag, 0.05Cu
HC06RC081+ 7757950 559065 32-36m; 4m@ 0.15g/tAu, 2.3g/tAg, 0.01%Cu
HC06RC082+ 7757895 559070 40-56m; 16m@ 0.52 g/t Au, 39 g/t Ag, 0.05Cu
HC06RC083+ 7757850 558795 32-56m; 20m@ 0.23 g/t Au, 26 g/t Ag, 0.0.8% Cu
also 64-68m, 4m@ 0.04 g/t Au, 66 g/t Ag, 0.49Cu
HC06RC084+ * 7757800 558500 92-102m; 10m@ 105 g/t Ag, 0.04% Cu, 0.003 g/t Au
HC06RC086+ * 7757725 558595 40-99m; 49m@0.069g/t Au, 1488g/t Ag, 1.70%Cu
HC06RC087+ 7757850 558750 40-60m; 20m@ 0.1g/t Au, 31g/t Ag, 0.23% Cu
HC06RC088+ 7757815 558770 16-28m, 12m@ 0.40Au, 27Ag, 0.02Cu
HC06RC089+ 7757903 558760 48-52m, 4m@ 0.36Au, 11Ag, 0.07Cu
HC06RC090+ 7757950 558745 40-52m; 12m@ 0.24g/t Au, 21g/t Ag, 0.1% Cu
HC06RC091+ 7758000 558752 12-20m; 8m@0.06g/t Au, 48g/t Ag, 0.18%Cu
incl: 48-84m; 36m@ 0.12g/t Au, 53g/t Ag, 0.15%Cu
HC06RC092+ 7758050 558750 4-36m; 32m@ 0.07Au, 60Ag, 0.08Cu
HC06RC093+ 7758097 558750 24-68m; 0.06Au, 34Ag, 0.05Cu
Diamond Holes
HC06DD004 7757800 558595 22-79m; 59m@777g/t Ag, 1.31%Cu, 0.050Au
54-75m; 21m@ 1864g/t Ag, 3.52% Cu, 0.071Au
HC06RCD058 7758100 558975 100-138m; 38m@ 8.42g/t Au, 44.5g/t Ag, 0.86% Cu,
Incl: 113-130; 17m@ 18.0g/t Au, 79.8g/t Ag, 1.46% Cu
also 84-96m; 12m@ 2.89g/t Au, 14g/t Ag, 0.45% Cu
HC06RCD059 7758100 558975 85-166m; 81m@2.78 g/t Au, 28g/t Ag, 0.65%Cu,
incl: 1m@ 58 g/t Au,
and 7m@ 5.02 g/t Au, 107 g/t Ag, 4.05%Cu.
NOTES:
All holes drilled magnetic south at -60 degrees, except holes 75 and 86 drilled north at -60 degrees, and hole 59 drilled south at -80 degrees. Holes 57 - 71 are precollars for diamond drilling 
+ denotes holes with 4m composite results awaiting 1m ore grade assays.
* denotes hole that ended in mineralisation.

PLANNED PROGRAM TO END OF THE YEAR

The reverse circulation percussion drilling rig will continue exploration drilling on 50m and 100m  spaced section lines to extend the deposit, and will also test new targets as required. Diamond drilling will complete the current pattern on the south side of V2 hill, then move to drill a line of holes to confirm the gold mineralisation intersected in holes HC06RC72, 73B, and 74.
Drilling is planned to continue for the remainder of the year with the objective of defining the extent of the new Silver Hill deposit. A further 95 drill pads have been cleared for this work.
"


----------



## ALFguy (17 October 2006)

That's a serious announcemnt!

So why then are there sellers at 49c!!!???


----------



## donjohnson (17 October 2006)

Good question...

I'm guessing that the market really wants a JORC upgrade. The announcement states that this will be released this quarter.

Anyone got any idea how long these things take to prepare?


----------



## Realist (17 October 2006)

Down to 45.5c now, what the?


----------



## x2rider (17 October 2006)

I'm with realist on this one . What the ......
 It is a good time to accumulate though . I just need to get some more money 
 Cheers


----------



## Realist (17 October 2006)

43.5c now, quite bizzare.


----------



## powerkoala (17 October 2006)

hm....
quite weird as well...
but now i can buy back, lol 
hope tmrw market will review what the exact announcement means, then you can post your rocket.


----------



## ALFguy (17 October 2006)

Maybe the market wanted a JORC and not simply an estimate.
Still, I can't see this dropping any further - it's fallen far too quickly on what is exceptional news.

So what would their estimated in-ground be now?


----------



## powerkoala (17 October 2006)

Even waiting for jorc, knowing strike for 20ha is a huge different..
still dunno why market seems to react negatively toward this announcement.
let see what happen tmrw..
but now, i wont let go easily again...


----------



## ALFguy (17 October 2006)

Yep, even with price drop, given the latest ann, I won't be selling this one too soon.


----------



## Impala (17 October 2006)

This is an excellent stock to accumulate.  Difficult to understand the market's rating of it, but from (very) long experience in mining investment, that's nothing new.  Patience is a great virtue with mining stocks. Long term holders will make a lot of money out of Conquest.  May the day traders continue to get burned!


----------



## Nicks (17 October 2006)

Nicks said:
			
		

> CQT and CQTO - its all happening tomorrow.
> Masive orders executed on both in the last 2 mins of trade.
> Its all on tomorrow. Its obviously about to come. Thankfully im in on both still.




good call?


----------



## powerkoala (18 October 2006)

now.. really confusing...
after first hour of storming buyers... and now sellers took over..
well, did they understand the announcement or what?


----------



## ALFguy (18 October 2006)

I'm wondering if anyone read the announcment!


----------



## aobed (18 October 2006)

ALFguy said:
			
		

> I'm wondering if anyone read the announcment!




I did.. and am quite surprised that the SP hasn't moved based on this information?


----------



## ALFguy (24 October 2006)

After that rather steady decline in the sp following the announcement, it's now bounced off it's low and heading back up.

Good to see it finish stronger today, closing at 44.5c


----------



## Ken (24 October 2006)

i think the momentum is gone....


----------



## powerkoala (24 October 2006)

Still dun get it, with such important good news, seller seems dun care at all.
was wondering why they sold tis ?


----------



## ALFguy (24 October 2006)

Just day traders mucking about. I expect it to drift up and following it's trading channel. I aint no chartist but this one seems obvious.

Add to this it's potential and medium/long term we'll see it much higher.

All my opinion


----------



## Ken (24 October 2006)

hasnt really been a period of profit taking....


----------



## powerkoala (25 October 2006)

wow, another resource upgrade...
increase 50% ? this is huge....
now let c wat will happen with this sp


----------



## Realist (25 October 2006)

wow a 50% increase...    

I'm amazed the stock price is not moving...


----------



## powerkoala (25 October 2006)

ok, now this is really weird... ???
good news again, and sp was pushed down...
can someone explain tis to me ???


----------



## Realist (25 October 2006)

Low volume, and traders are looking for value in companies with share prices going up not in companies with improving fundamentals.

In other words, be patient!!

It wont happen overnight, but it will happen.


----------



## cuttlefish (25 October 2006)

it was a 50% increase in the silver resource, not the total resource, plus a bit more silver from the new area.


----------



## Realist (25 October 2006)

Even still CQT was 49c last week, now after 2 excellent announcements the price is 41c.

Quite ridiculous.


----------



## cuttlefish (25 October 2006)

depends.  prior to the announcements there was an unknown ... maybe they'd found more high grade silver ... maybe even higher grades than before ... maybe more high grade gold etc. etc. ... what surprises were in store?

Now we know that the subsequent holes haven't turned up anything better than that already drilled, and we know the resource's aren't that dramatically increased as a result of the extra drilling.  

And current resource is already factored into the price at around 40c.  Also its still only JORC inferred at this stage.


----------



## Realist (25 October 2006)

True, but a 20% drop on good news.

All I can say is thank god it wasn't bad news - I may have been cleaned out!


----------



## Realist (25 October 2006)

39.5c now.

Damn!!


----------



## ALFguy (25 October 2006)

Relax Realist   

Long term remember. This is a good company with excellent potential. Market will drive the sp up again in anticipation of more results.


----------



## powerkoala (26 October 2006)

38c now..
big seller ... 
jeez.. i really confuse with tis now..
how come such good news become like tis ?


----------



## Realist (26 October 2006)

Well market fluctations can be frustrating.  But they are necessary, otherwise how else could you get a good share cheap. Don't let them sway you.

Show some balls, show the market who is boss and buy some more at 38c!!


----------



## Ken (26 October 2006)

i'm out.


----------



## ALFguy (26 October 2006)

Can't believe how this was manipulated today, forced down to allow buying at 38-39    Bet a few jumped off eh, just as they wanted.

Day traders dream!

Back up to 41 now.


----------



## powerkoala (26 October 2006)

last selling at 39.5c trigger lot of buyer.. 
maybe it's a scare tactic to buy cheaper prices..
still hold though...
with those announcement, i brave enough... :


----------



## Realist (26 October 2006)

It is amazing how many people buy high and sell low.

CQT will have its moment, it'll go up to 60c one day, hopefully soon and many will jump on, it may then go back to 45c and many people will jump off.

Quite amusing.

38c was obviously a buying opportunity. As I stated before!    

Patience is the key, it is a better company today at 38c than it was a few weeks ago at 51c - the recent announcements have surely improved its value.


----------



## barney (26 October 2006)

Realist said:
			
		

> It is amazing how many people buy high and sell low.
> 
> CQT will have its moment, it'll go up to 60c one day, hopefully soon and many will jump on, it may then go back to 45c and many people will jump off.
> 
> ...





Thanks for that Realist, I hold a few CQT, and that outlook gives me a little reassurance  ........... Perhaps in 2 or 3 years time this company could be very interesting ............ worth holding I think ......... Cheers  Barney.


----------



## aobed (1 November 2006)

barney said:
			
		

> Thanks for that Realist, I hold a few CQT, and that outlook gives me a little reassurance  ........... Perhaps in 2 or 3 years time this company could be very interesting ............ worth holding I think ......... Cheers  Barney.




I'm holding CQT at the moment as well and wondering why the market hasn't reacted in a postive direction for the SP given the recent announcements.  I'm holding this one for the longer term .


----------



## Bullion (2 November 2006)

Holding a little CQT at the moment, been watching it closely and hasnt been much happening. Well today it has jumped out of nowhere much more than in the last week. 

Anybody have a guess why? or am I missing something... :S


----------



## aobed (2 November 2006)

Bullion said:
			
		

> Holding a little CQT at the moment, been watching it closely and hasnt been much happening. Well today it has jumped out of nowhere much more than in the last week.
> 
> Anybody have a guess why? or am I missing something... :S




Very strange   Not that I'm complaining...


----------



## Bullion (2 November 2006)

I'm not complaining either!  Although it does ask the question... huge volume out of nowhere. Up 17%


----------



## Ken (22 November 2006)

there getting taken over by a south african miner.


----------



## Dink (22 November 2006)

Ken said:
			
		

> there getting taken over by a south african miner.




Just curious as to where this information came from?


----------



## Ken (22 November 2006)

meeting was held yesterday.

the south african miner has purchased 17% of the companies options so far.


----------



## Ken (7 December 2006)

CQT 40 cents.

bit of a disappointment for some.


----------



## Ken (8 December 2006)

not a disappointment for the last trade yesterday 95000 shares at 40 cents!

just a lazy 3k profit in a day.

probly run again you'd think....


----------



## imajica (27 December 2006)

heard a rumour that this one will pop at any moment - btw I don't hold any shares in CQT - just thought I'd share some info  -  my friends in the industry are usually right


----------



## gresim25 (27 December 2006)

by 'pop' u mean it's going up as it is now?


----------



## imajica (27 December 2006)

rumour is that its heading north soon


----------



## imajica (28 December 2006)

and there it goes! massive buying support


----------



## Bullion (28 December 2006)

Where?


----------



## BSD (28 December 2006)

No rumours - Goldfields Ltd have taken a 14% stake in CQT. 

This was announced Tuesday morning. The market is asleep at the moment - hence the delayed response.

http://www.asx.com.au/asx/statistic...qt&timeFrameSearchType=D&releasedDuringCode=W

Goldfields have been aggressively buying the physical and options through Austock (revving the price 20% in early Nov) and have the backing of a gold operation producing 4m/oz per annum. 

www.goldfields.co.za

The grades and size of CQT's soon to be confirmed (Jan) reserves would appear to be world class. 

CQT is going up


----------



## chennyleeeee (31 December 2006)

The doji candle that formed isnt exactly promising. Volume isnt relatively high for CQT so wouldnt think its a breakout at this stage. 52 cents acted as a resistence for some time now so we'll wait till the next trading day to see if CQT is reeving itself up.

CHENNY


----------



## Ken (31 December 2006)

i said a south african miner was looking at taking this one over....

Novemebr 22nd.... read through my post....


----------



## Brissydave (1 January 2007)

from the Herald Sun



> Brendan Fogarty, of State One Stockbroking, said Conquest Mining, an emerging gold producer, was worthy of consideration.
> 
> He said Conquest was due to start mining mid next year and had estimated reserves of 800,000 ounces, which could double with more exploration.
> 
> ...




glad to be holding ... takeover rumours alone could drive this stock to 60+ cents .... then if the rumour becomes fact and there is a takeover, I for one will be wanting top dollar ... and of course if there is no takeover Conquest will be a producer this coming year anyway .... geez ... maybe I should get more .... LOL

Cheers .... Dave


----------



## kransky (1 January 2007)

how bullish are you about future copper prices with their operating costs at US$1.59 per pound they need to stay elevated...


----------



## dubiousinfo (2 January 2007)

Up 15% again today. 
Gold Fields announced on Wednesday 27/12 that they had become a substantial holder with just under 15%.  Guess this is helping to fuel the takeover rumors.
Anybody know the planned timing for issue of the shares for opies recently exercised? Might look to take some off the table & lock in some profits once mine are issued.


----------



## Brissydave (2 January 2007)

I had my fears when it stalled at 10.30 this morning ... but she has held up well ... a close near the high would be great for tomorrow .... can't wait for the next announcement from Goldfields as per their holding percentage now !!!!

Cheers ... Dave


----------



## Ken (5 January 2007)

Anyone notice the director just bought 400,000 bucks worth on december 28...?

Share price up 7% 59 cents.


----------



## Jimmy001 (6 January 2007)

Thats true.. they are supposed to start drilling again next week I think.. could be a good sign of things to come?

However, charting wise its hard to draw any conclusions coz it looks more volatile now than it has for the past few months... plus, depth wise there isn't the buyers one would expect to accompany impending good news.. especially when the change in directors and substantial holdings are taken into consideration.

Me thinks i'll hold off a little longer to see where this is going.


----------



## ALFguy (8 January 2007)

Jimmy001 said:
			
		

> Me thinks i'll hold off a little longer to see where this is going.




Can you see where it's going now? 

Broken through 60c and back into blue sky territory.

I honestly think because of it's original trading band 40-50c that buyers are skittish about a possible fall. Hence why it isn't running.

I wonder if GF are trying to accumulate more? Any increase in their holding is going to fuel the TO rumors again.


----------



## Jimmy001 (8 January 2007)

I forgot to add since that I'm in now. The past history of watching what happens after a couple of "change of directors interest notice" appear got the better of me... hopefully something good is to come.


----------



## ALFguy (8 January 2007)

Jimmy001 said:
			
		

> I forgot to add since that I'm in now. The past history of watching what happens after a couple of "change of directors interest notice" appear got the better of me... hopefully something good is to come.




I jumped in this morning but didn't expect it to close so low.

Don't like the look of the chart now but you never know with this one.

Still holding.


----------



## Jimmy001 (8 January 2007)

ALFguy said:
			
		

> I jumped in this morning but didn't expect it to close so low.
> 
> Don't like the look of the chart now but you never know with this one.
> 
> Still holding.




Yes charting not too good but then again what's charting done for me lately? I'll wait to see what the next ann says.


----------



## Jimmy001 (9 January 2007)

Is anyone else still in this?

It seems to be struggling to get up, yet when you combine the news of directors accumulating more, and drilling to recommence this week, things should be looking good. Either way I'm holding to see what comes, but anyone got any opinions on why its not receiving much interest despite these facts?


----------



## Porper (9 January 2007)

Jimmy001 said:
			
		

> Is anyone else still in this?
> 
> It seems to be struggling to get up, yet when you combine the news of directors accumulating more, and drilling to recommence this week, things should be looking good. Either way I'm holding to see what comes, but anyone got any opinions on why its not receiving much interest despite these facts?




I would hardly call up 50% in 1 month struggling.

There was a nice bounce off the 0.52 mark Thursday, so good time to buy was then or Friday i.m.o.A tight stop just under 0.52 gives a very nice risk/reward ratio.

It has tested that old resistance / new support once, might do it again but wouldn't bank on it.


----------



## dubiousinfo (11 January 2007)

Up another 9% today.


----------



## steven1234 (11 January 2007)

dubiousinfo said:
			
		

> Up another 9% today.




It was up to 67 today, but closed at 64.5


----------



## dubiousinfo (11 January 2007)

Jimmy001 said:
			
		

> Is anyone else still in this?
> 
> It seems to be struggling to get up, yet when you combine the news of directors accumulating more, and drilling to recommence this week, things should be looking good. Either way I'm holding to see what comes, but anyone got any opinions on why its not receiving much interest despite these facts?




Everyone that converted options in the last few days of December is still in as the company seems to be taking the full time allowed to issue the shares. But that seems to be a bonus at the moment as the SP keeps climbing.
Spoke to the Company last week and they said they had recieved loads of convertion applications in the last week of December, so it will be interesting to see if there is a sell off when the shares come through, which should be Monday or Tuesday next week.


----------



## Jimmy001 (17 January 2007)

Keep your eyes on this one.... just broke 70c and directors had another round of buying yesterday. Good things to come!


----------



## steven1234 (17 January 2007)

I think an announcement is due with results of recent drilling towards the end of the month.  Hope it shows there are more resources than previously estimated.  This would explain the price rise.


----------



## dubiousinfo (17 January 2007)

Jimmy001 said:
			
		

> Keep your eyes on this one.... just broke 70c and directors had another round of buying yesterday. Good things to come!




Technically the directors weren't buying. The shares they picked up were in relation to  underwriting the opies that expired on 31/12/07. Basically, they picked up the tab for any opies that were not exercised. I'm quite surprised there were so many given the size of the premium, opies were 20c exercise and the shares were at 60c at the time.
Interestingly though, it appears that between them, the directors hold almost 10% of the shares and this would be enough to stop compulsory acquisition and potentially block any takeover if they were not happy with the price.


----------



## Brissydave (18 January 2007)

Actually only 699,066 options were not taken up, and had to be underwritten ... at 20c per option ... and these options were underwritten by several directors, at a total cost of about $140,000

John Terpu, and his family retirement companies have actually spent over $1,700,000 recently according to the AXS release regarding the change in substantial holding, on the 16th.


Cheers .... Dave


----------



## steven1234 (18 January 2007)

A good read here

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=2FDC6208-17A4-1130-F5F6A6DE523AB46C


----------



## steven1234 (21 January 2007)

This has also popped up in sun herald this weekend http://www.news.com.au/sundayheraldsun/story/0,21985,21091054-664,00.html 

Exert  

Mr Fogarty said investors should consider Conquest Mining as it had an inferred resource of 800,000 ounces of gold at its North Queensland project. 

"The resource is close to the surface so it is easy to mine through open pit operations," he said. 

Mr Fogarty said South African miner Goldfields had taken a 15 per cent stake. 

"Conquest has corporate appeal," he said. 



And i was considering selling to take my profits in the upcoming days... Think I'll hold for a little while longer and see how this pans out


----------



## steven1234 (23 January 2007)

Goldfields has just sold its shares in AVO - $26Mil worth 

Will they now use this $$ to buy up in CQT???  The next few days should be interesting.  

http://www.asx.com.au/asxpdf/20070122/pdf/310ldcvv83nbfv.pdf 

The full text of a company announcement is pasted below

Avoca Resources Ltd is pleased to announce that Pala Investments Holdings Ltd has acquired a 13.3 per cent shareholding, or 19,849,861 shares, in Avoca from St Ives Gold Mining Company Pty Ltd and Gold Fields Australasia Pty Ltd, both wholly-owned subsidiaries of Gold Fields Ltd, in an off-market purchase equivalent to A$1.32 per share.

Pala, which is registered in Jersey, UK, is a US$900 million alternative investments fund focused on the mining and resources sector. Pala Investments AG, based in Zug, Switzerland, is the exclusive adviser for the fund.

Commenting on Pala's investment in Avoca, Avoca's Chairman Robert Reynolds said, "We are pleased to have an investor such as Pala become our largest shareholder. Pala is a very knowledgeable investor in the mining sector and we look forward to a close working relationship. Avoca will invite a PIAG nominee to join the Board of Directors."

Jan Castro, Managing Director of PIAG, added, "Pala's investment in Avoca represents an attractive entry platform in the gold sector. Avoca has been recognised as a high-quality emerging gold producer with strong exploration prospects. We have a tremendous amount of respect for what the management of Avoca has accomplished to date and Pala looks forward to providing additional capital to the Company for the development of Higginsville. Pala is also excited about working actively with management to execute itsstrategy, including the continuation of an active exploration program, both at Higginsville and at its other properties, designed to realize the full potential of its asset base."

Avoca holds a 100% interest in the Higginsville Gold Project in Western Australia. Since its discovery in late 2004, the Trident Gold Deposit at Higginsville has increased to a total resource base of 797,000 ounces. Following the completion of a feasibility study in December 2006, first gold production is expected in early to mid 2007 and will ramp up to an annualised rate of 160-190,000 ounces at an average life-of-mine cash cost of A$369 per ounce. In addition to Higginsville, Avoca holds interests in a number of quality exploration projects in Western Australia and South Australia.


----------



## Jimmy001 (23 January 2007)

Can't believe this has so little attention on here. Hit 90c today and looking good for tomorrow. Check it out!


----------



## Ken (23 January 2007)

so little attention!

i think most people got set with this one around 40 cents...


----------



## steven1234 (23 January 2007)

Good to see I'm not the only one left on this thread!!


----------



## Ken (23 January 2007)

the question i got to ask.

how far can it go???


has had a dream run.


not saying its going to stop.  it was mentioned in the herald sun along side blue companies such as bhp, qbe, anz....

they said conquest had corporate appeal... whateve that means???


----------



## nevieboy (24 January 2007)

Still holding this one. No point selling while the price is going up.
I normally sell whenever a stock's price has retreated 15 to 20%
from the highest price at which i have held it for.
Highest is .90 cents
Less 20% = .72 cents (so far) still making a good profit.


----------



## nevieboy (25 January 2007)

Hi fellow Conquest holders.
To all the people that bought cqt shares during 2006 do any of you still hold?
If not what price did you sell at and why?
And is there an announcement due in the near future?
Regards Nevie.


----------



## Jimmy001 (25 January 2007)

Nevieboy,

Yes we're waiting on more results from silver hill after the christmas break. In their last ann about silver hill on 13 dec they said

"Conquest Mining Limited (ASX code: CQT) is pleased to announce that drilling at the Silver Hill Deposit has continued to extend the zone of significant mineralisation. Most importantly, a large area of gold mineralisation has been identified as extending east and is limited only by the extent of drilling completed"

Since that time theres been plenty of buying in from everyone. Theres some reputable players in the top 20 shareholders too. Hope this helps.


----------



## nevieboy (25 January 2007)

Jimmy001 said:
			
		

> Nevieboy,
> 
> Yes we're waiting on more results from silver hill after the christmas break. In their last ann about silver hill on 13 dec they said
> 
> ...



Thanks for taking the time for a reply Jimmy.


----------



## steven1234 (25 January 2007)

It was further said on 13 December 2006 http://www.conquestmining.com.au/pdf/275_drilling_results_13.12.06.pdf 

"The company has appointed an internationally experienced independent geological consultancy to complete a kriged resource estimate by late January 2007."


----------



## Realist (25 January 2007)

nevieboy said:
			
		

> Hi fellow Conquest holders.
> To all the people that bought cqt shares during 2006 do any of you still hold?
> If not what price did you sell at and why?
> And is there an announcement due in the near future?
> Regards Nevie.




Yep I've held for 6 months now. You can see my earlier posts on this thread. They've more than tripled since I bought them.  I will continue to hold mainly for tax reasons, If I sell now I'll lose 50% of my profit in tax, if I hold another 6 months tax is halved and with some luck CQT will be even higher.


----------



## Jimmy001 (29 January 2007)

Fantastic ann out this arvo. You know you've got things good when an announcement includes the word "spectacular" lol. Good luck to all holders, don't let go of what you've got.


----------



## Dukey (29 January 2007)

Great announcement - but not much reaction today in the market.
- Maybe it was 'telegraphed' (leaked) a week or so back - and is already factored in to some extent - with the recent SP rises.
Any comments??

Also - Do CQT have a plan/schedule for mine development yet - or are they still just exploring?


----------



## steven1234 (29 January 2007)

Where did all the sellers come from today??  

Why would they want to sell after today's announcement??


----------



## Realist (29 January 2007)

steven1234 said:
			
		

> Where did all the sellers come from today??
> 
> Why would they want to sell after today's announcement??




The trading theory goes :  "Buy the rumour, sell the news".

Whether it is a valid strategy is a very moot point.

Plenty have bought and sold CQT over the past 6 months. Few like me have just kept it.


----------



## steven1234 (8 February 2007)

It looks like this will break out soon.  Does anyone else feel the announcement may be coming on Monday? Or Friday?


----------



## Brissydave (9 February 2007)

Steven 1234

The only people who need to worry "when" are those trying to trade T1/T2 .... for the rest a little patience is all we need.  

Don't loose heart ....  I actually love the consolidation at these levels .. especially with such low volumes, these shares are being held very tightly now.

Be prepared to pop the bubbly, (again) ... If the results are as expected, there are going to be some very drunk people up the Isa, and I might wake up a bit shabby myself .... I do expect to double my money (again).

Cheers ... Dave


----------



## Povesa (9 February 2007)

steven1234 said:
			
		

> It looks like this will break out soon.  Does anyone else feel the announcement may be coming on Monday? Or Friday?



Well, the ann is out. Does not seem to drive the shareprice too high though.


----------



## Dukey (9 February 2007)

Oh man!!!
Who - besides me - has been drooling at the sight of the core photo in CQT's ASX announcement (pdf) today!!! :kiffer:  (see link below) 
Gold - glorious GOLD!! Wouldn't we all love to have some of this dirt in our backyard 

I only got in late on this one - but seeing the drill results - no hesitation - I just wish to hell I had heard of CQT a few months back!!!

http://www.conquestmining.com.au/pdf/308_market_update_9_02_07.pdf


----------



## Brissydave (9 February 2007)

Welcome onto the bandwagon Dukey ... better late than never ... there is every chance this will go a lot further than it has travelled in recent months.

Cheers ... Dave


Oh yeah ... DYOR ... blah, blah ...


----------



## drmb (9 February 2007)

Dukey said:
			
		

> Oh man!!!
> Who - besides me - has been drooling at the sight of the core photo in CQT's ASX announcement (pdf) today!!! :kiffer:  (see link below) Gold - glorious GOLD!! Wouldn't we all love to have some of this dirt in our backyard  I only got in late on this one - but seeing the drill results - no hesitation - I just wish to hell I had heard of CQT a few months back!!!
> http://www.conquestmining.com.au/pdf/308_market_update_9_02_07.pdf



I remember droooolllling over the cdu photos! I think the attached also brings out the basic drool and GREED! Steady! Must wait for full analysis but I hold small amount as a fun stock. I also hold CDU so what do I know? Zip!


----------



## windwalker (9 February 2007)

Hi DRMB,
Like you holding this and CDU - and they say the big dipper was fun


----------



## Dukey (9 February 2007)

drmb said:
			
		

> I remember droooolllling over the cdu photos! I think the attached also brings out the basic drool and GREED! Steady! Must wait for full analysis but I hold small amount as a fun stock. I also hold CDU so what do I know? Zip!




Yeah ... only bought a small parcel and will watch carefully (stops in place) for fear of a retrace after the recent SP doubling.   ... But at the same time, fairly confident theres more to come... If that make any sense at all!!


----------



## drgonzo (12 February 2007)

gooday all,

new to this stock and indeed to trading itself, so I am combing the internet in an effort to learn a bit more about CQT, mining and making money 

good luck to everybody 

cheers,


----------



## misterS (16 February 2007)

What is a "kriged" resource estimate? 

Any comments on CQT swapping their Clarke River uranium project (Northern Resources p/l) for 10% of Ellendale Resources?


----------



## misterS (16 February 2007)

Sorry, ignore that question - just looked it up - but didn't like it much.

Technique is subject to abuse - relies on "a significant degree of spatial dependency" between the ore concentrations in the area Kriged - not a problem if the spatial dependence is not assumed, but verified using "Fishers F test" (?).

On the face of it, interpolating from some "sensational" holes seems unlikely to yield a dissapointing result in either case - Why do it - just spin?


----------



## Wysiwyg (16 February 2007)

drgonzo said:
			
		

> gooday all,
> 
> new to this stock and indeed to trading itself, so I am combing the internet in an effort to learn a bit more about CQT, mining and making money
> 
> ...




I can`t believe I bought and sold these in the 8 cent range and never looked again.Buying and holding WITHOUT fear in a bullrun IS the only way.Lesson learnt.


----------



## steven1234 (17 February 2007)

The results of the ringred resource estimate should be available any day now.  They were originally due late January, then in the quarterly report it was announed they were due early February.  

As at October 06 we has 313,410 ounces of gold, 18,174,803 silver and 25,923 tonnes of copper.

Lets see if the inferred resource of 800,000 ounces of gold is proven up this week, or if it is exceeded.


----------



## drmb (18 February 2007)

¡ ¿ ¡ ¿ Any comments on Friday's late pm ann that CQT bought 16mil ELL !?!? 

From money.cnn.com "AUSTRALIA - Ellendale Resources NL (ER) agreed to acquire the entire share capital of Northern Resources Australia Pty Ltd (NR), a gold mining company, in exchange for 80 mil new ordinary ER shares valued at 4 mil Australian dollars ($3.059 mil US). The shares were valued based on ER's closing stock price of A$0.05 ($0.038) on November 14, the last full trading day prior to the announcement. The transaction was subject to due diligence completion, regulatory and shareholder approvals. Upon completion of the reverse takeover transaction, the shareholders of NR were to own a 50.14% interest in ER."

If CQT has 10% ELL and ELL has picked up Uranium tenements of Northern Resources (25/8/06 as "non-core assets") in a scrip takeover, is it possible that NR shareholders (includes 10% CQT) now control 50% ELL??? or is it "bloody 'ell". Good or not???


----------



## Taurisk (20 February 2007)

drmb said:
			
		

> ¡ ¿ ¡ ¿ Any comments on Friday's late pm ann that CQT bought 16mil ELL !?!?
> 
> From money.cnn.com "AUSTRALIA - Ellendale Resources NL (ER) agreed to acquire the entire share capital of Northern Resources Australia Pty Ltd (NR), a gold mining company, in exchange for 80 mil new ordinary ER shares valued at 4 mil Australian dollars ($3.059 mil US). The shares were valued based on ER's closing stock price of A$0.05 ($0.038) on November 14, the last full trading day prior to the announcement. The transaction was subject to due diligence completion, regulatory and shareholder approvals. Upon completion of the reverse takeover transaction, the shareholders of NR were to own a 50.14% interest in ER."
> 
> If CQT has 10% ELL and ELL has picked up Uranium tenements of Northern Resources (25/8/06 as "non-core assets") in a scrip takeover, is it possible that NR shareholders (includes 10% CQT) now control 50% ELL??? or is it "bloody 'ell". Good or not???




Hi drmb

I'm a newby myself, but I understood from the announcements that CQT actually bought a lot more shares under various different company names and they now control 47% of ELL.  Have a look under the ASX announcements on 16/2, i.e.:  

16/02/2007   Becoming a substantial holder from CQT  
16/02/2007   Becoming a substantial holder 
16/02/2007   Becoming a substantial holder  
16/02/2007   Becoming a substantial holder  

Just in case, I bought small holdings in CQT and ELL

Cheers
Taurisk


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## misterS (2 March 2007)

*CQT Trading Halt*

Maybe should go in the old CQT thread, but excited that CQT has done a Friday night Halt. Hopefully it will be "sensational resource increase declared".  Can't bring myself to consider an alternative...


----------



## robandcoll (2 March 2007)

The alternative is a takeover bid from Goldfields Mining.


----------



## Brissydave (7 March 2007)

All is revealed ... huge resource upgrade.

Now 3 times bigger ... with drill results from the last couple of months not even in the calculations ...

This is BIG ... hang on for a wild ride ... 

Cheers ... Dave


----------



## Realist (7 March 2007)

Brissydave said:
			
		

> All is revealed ... huge resource upgrade.
> 
> Now 3 times bigger ... with drill results from the last couple of months not even in the calculations ...
> 
> ...





Yep, it is big, a 257% increase. Huuuuuge.

I assume the trading halt is over and it will soar this morning.

But do your own research I know nothing about anything, particualrly women and shares.


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## Realist (7 March 2007)

Well it is up 9c or 11%.

Meh, hoped for better.


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## Realist (7 March 2007)

Hmm, now it is only up 6.5c.

The theory goes that the market underreacts to news.

In this case you've got to agree.

Although the other theory is a companies resource could be huge, when you confirm it is only 250% of what is first thought that eliminated the potential for a truly massive find. In other words expectations were already built into the stock price.

A bit of both me thinks....


----------



## Brissydave (7 March 2007)

Yeah I detected weakness in the first 5 minutes of trading activity,  took my profits to make up for some losses last week ... 

I hope to be back on the register in the future .... this has been a good stock to me in the past ... and will be again, but a profit is a profit ... LOL

Cheers ... Dave


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## Dink (7 March 2007)

Somewhat baffled that this is trading lower after such good news... were people expecting such an increase in their resource and hence was this was factored into their share price a long time ago???


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## Realist (7 March 2007)

Dink said:
			
		

> ... were people expecting such an increase in their resource and hence was this was factored into their share price a long time ago???




It seems so, the share price is actually down a cent today.    

Ridiculous. The market has underreacted tremendously.

I'll continue to hold.


----------



## Povesa (7 March 2007)

I held the shares for about 6 months and sold them a few weeks ago. Noticed an interesting thing - whenever CQT makes an ann about significant resource upgrade the share price goes up for a very short time (maybe 20 mins or so) and then plummets below the initial price. In contrary, the sp usually goes up on no news at all... Still can not understand why it happens this way with CQT. Not complaining though, I've made 100% profit on this one.
Good luck to all holders.


----------



## Devil_Star (7 March 2007)

Povesa said:
			
		

> I held the shares for about 6 months and sold them a few weeks ago. Noticed an interesting thing - whenever CQT makes an ann about significant resource upgrade the share price goes up for a very short time (maybe 20 mins or so) and then plummets below the initial price. In contrary, the sp usually goes up on no news at all... Still can not understand why it happens this way with CQT. Not complaining though, I've made 100% profit on this one.
> Good luck to all holders.




It sounds like 80% traders in this stock are insiders, hehe.


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## Brissydave (28 March 2007)

Something up here ... and I don't just mean the SP

Buying activity yesterday on close and then this morning has been very strong.

Possibility of an announcement on the way, perhaps.

Cheers ... Dave


----------



## Jimmy001 (29 March 2007)

Hmm.. not sure what to do now given the cqt cycle of massive hype and sp rise pre-ann, then stalling and fall in SP post-ann regardless of how good said ann was. To sell on a high in the lead up to an ann or not.. that is the question.. something tells me I'll be stupid and stick with one of the most frustrating roller coasters in the world. In fact they could build a roller coaster and call it CQT but it would probably be too dangerous.. everyone on it would be killed by the violent ups and downs.


----------



## misterS (29 March 2007)

Sticking with it - still only inferred and indicated, despite the "sensational" 2006 holes.  Understandable for sp to dwindle a bit with no results from the 2007 program yet.  The last ann was mainly the Krige result that was still based on the 2006 holes - could hardly have been a bad estimate, extropolating (well, interpolating) the already known grouse 2006 results.

If the ann for drilling program for 2007 are comparable to 2006, that will be great.  Also, if news is of further extensions or confirmation of other similar looking areas they have flagged for drilling that would be great too.

Some have noted the pre-ann rise followed by post-ann falls pattern and speculated /attributed them to inside knowledge and / or trading.  However,  drilling result anns must be "fairly" regular, so it seems reasonable for traders to speculate there must be one due soonish - not one 2007 drill result so far and the drilling has been going on... 

I am hoping to be pleasantly surprised by the next ann and that it eventually reaches a point where retraces are not so large or so regular.


----------



## Dukey (13 April 2007)

CQT jumping out of the gates somewhat today. up 4.5c.

The question is - does it mean anything?? or is it just market noise...???

Bought a few anyway with the 2007 drilling program underway...


----------



## Ken (24 April 2007)

Anyone worked out what their in ground value is?


----------



## Dukey (24 April 2007)

Well - they did themselves in todays Qtly rep.
Dunno if there are any independent estimates to compare with...

They say AUD$1395 000 000  combined Au; Ag; Cu.
They are assuming AUD$820/ounce Au; $16/ounce Ag; $9250/tonne Cu.

That's As At Jan 2007. - so doesn't include any results yet from latest drilling / resource extensions. 

Sounds nice and there should be more to come... Best check the Rep. yourself though - I only had a quickish look.


----------



## Ken (25 April 2007)

Its been pretty steady lately, just got a feeling its going to have another run.

They also bought a stage in ELL and they look pretty much as good as CQT.

I just had a listen to the BRR radio report by the CQT director.  A touch of arrogance in his tone, relistening it sounded like he was on top of the world and you'd be stupid not to buy up CQT.

Resource upgrade would seem likely. Cant see much downside.


----------



## steven1234 (25 April 2007)

There has been heaps of drilling this year and no results released.  

We should see some upward movement once the resource is increased.


----------



## Dink (2 May 2007)

Up 16% in the last couple of days... this stock has the habit of having a nice run up until an announcement and then drops back. Any ideas as to a possible announcement coming up?


----------



## steven1234 (2 May 2007)

Dilling results from this year should be announced any time now.  There has been heaps of drilling but no assay results.


----------



## steven1234 (19 May 2007)

The chartists belive this is about to run.  Flag formation at play.  If it breaks 85c it should run again.  You could also get an asymetic triangle if you chart it on the monthlys.    

I bought more CQT last week on the cheap hoping it would breakout and run this week.  It still hasn't happened!!! 

Maybe TA is a load of rubbish after all


----------



## robandcoll (19 May 2007)

Charts have been looking real good on this one. Would be good if someone could post one from this forum. The run this time is a bit cooler than the normal CQT runs. No ramping which is good. Roadshow is coming to Institutions etc and obviously there has to an announcement re the drilling results.

Bit of chatter coming out of Perth re a JV and the street talk is okay

DYOR though


----------



## Ken (25 May 2007)

CQT will be a producer soon.  The cost of mining for conquest is ridiculous. Very low cost gold miner.

Good for the long term list in my opinion.


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## steven1234 (25 May 2007)

Its been a good day for CQT today. 

Its up 9c or 9.41% when the rest of the market is red.  

Its breaking out and should keep runing to about 1.25.  If we get some good news it may run further.


----------



## robandcoll (26 May 2007)

The charts I am seeing on other forums are real good for this one. There was a doji star reversal about a week and a half ago. Announcement could come any time but I dont think it needs one to continue to run over the $1.00.

Would love a chart to be posted in ASF


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## Dukey (28 May 2007)

Ken said:


> CQT will be a producer soon.  The cost of mining for conquest is ridiculous. Very low cost gold miner.
> 
> Good for the long term list in my opinion.




Ken - from my limited understanding it takes quite a long time to get a gold mine up and running doesn't it? EIS approvals, acquiring machinery, staff and processing equip. etc.  I havn't yet seen any information from CQT about that process being well underway.
When do you (or anyone) think they could realistically start producing??
2008? 2009?

 - Director (Mr Radici) buying 50000 shares on April 23 could certainly be a good sign also.  
Hooing for big things from the next resource results.


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## steven1234 (28 May 2007)

CQT has started metallergical testwork and has started the pit optimisation modelling.  It has also contructed a campsite.


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## Dukey (26 June 2007)

Was just about to post that CQT has been queit lately - when they released a new Mt Carlton project update!

>> Mostly infill drilling recently - confirming March resources with view to upgrading current resources to 'measured' status by end of August.

They will also initiate a scoping study with view to mine development timeline.

Maybe most significant in this report is their geophysical modelling which shows other nearby areas to have similar potential to Mt Carlton.
They apparently have a flyover modelling presentation on their website - havn't seen it yet.

Any comments on this one?

http://www.conquestmining.com.au/pdf/320_mt_carlton_drilling_update_26_june_07.pdf

More 'outstanding' drill results would have been welcome of course - but it sounds like they were mostly looking to confirm current resources.


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## steven1234 (27 June 2007)

Its about time they stared looking to other areas in their 25klm strike zone.  Its worth going back to the interview at http://www.brr.com.au/event/CQT/844/16354 from 19 October 06.

There is one thing I wish i could work out.  The last quarterly made mention of a Auzre Capital being appointed the financial advisor.  

I doubt CQT will be raising capital as there was $17Mil in the bank.  The potential of a much larger resource has been increased by resent info and comparisions are being made to Yanacocha...

Could we see a take over of CQT?  Could a joint venture, merger or acquisition be in the planning? Whatever is about to happen it has stalled the institutional roadshow that was planned to commence over a month ago, it will take place at all.


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## Ken (24 July 2007)

CQT trading halt and the stock has risen before the HALT.

I smell some leaks in the CQT ship..

Could be happy days a head for holders.

Wait and see.

I am backing $1 + now.


----------



## tvhead (25 July 2007)

Any educated guesses on what the trading halts for? 

They have gone up overs the last few days consistantly, so 

its sounds like its gonna be good news


----------



## drmb (25 July 2007)

tvhead said:


> Any educated guesses on what the trading halts for?
> 
> They have gone up overs the last few days consistantly, so
> 
> its sounds like its gonna be good news




Ann out that Goldfields will get >50% in jv for some drilling, not good imo, seems to be all to Goldfields benefit. SP closed down 3c at close today.

Key terms:
– Gold Fields has the opportunity to earn a 51% interest in the Regional JV Area by
completing 150,000 metres of drilling (the Drilling Requirement) within three years.
– Gold Fields is obliged to expend at least $5 million in respect of the Regional JV Area in
the first 12 months of the JVA.
– Upon meeting the Drilling Requirement, Gold Fields has the right to increase its interest in
the Regional JV by 24% (to 75%) for an amount calculated based on a weighted average
of Gold Fields’ expenditure incurred in meeting the Drilling Requirement and an
independently determined NPV for the Regional JV Area.
– Upon meeting the Drilling Requirement, Gold Fields also has the right to acquire a 50%
interest in the Mt Carlton project based on an independently determined NPV.
– Gold Fields will establish its own exploration team to staff the Regional JV Area, with the
understanding that Gold Fields and Conquest will, where possible, share resources to
most efficiently and cost effectively allow the exploration activities of both companies to
proceed.
– Conditions precedent comprise ratification by both company’s Boards, SARB approval and
a due diligence within 60 days.


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## Ken (27 July 2007)

www.brr.com.au

I like it.

They are looking at 2 million plus ounces.

Resource upgrade in september.

Expected first production..


If this isn't a mid tier producer well it cant get any clearer.

5 year old entry at right price.  Maybe in the 60's....


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## tvhead (30 July 2007)

imo this is gonna win the August tipping competition with ease.I wish i became a member earlier so i could join in the fun. Oh well looks like i will have to win Septembers comp with this dormant volcano


----------



## steven1234 (30 July 2007)

The only way i can see this winning the August tipping comp is by it getting a jump on everyone by closing at 30c tomorrow!

I'm a holder of CQT and am confident it will do well in the comming months, but to win the comp we will need something huge.  This month's leader is sitting on 130%... If CQT went up 130% it would go up by a dollar... 

I think the CQT share price is being held down atm by those selling to take advantage of the CGT break.  There would have been an influx of new holders over a year ago with the huge spike in volume that occurred.  It looks like they are letting CQT go now (after the joint venture announcement).


----------



## Ken (30 July 2007)

I have already won the tipping competition with CQT.

So I highly doubt the same stock will win it twice.

lol


----------



## tony montana (31 August 2007)

CQT has had a good week, seemed to have rebound a bit from the slump.....is there anything in the pipeline that we should be waiting for?


----------



## tvhead (3 September 2007)

imo i think its gonna to be a good couple of weeks. Signing up with one of the biggest gold companies in the world seems pretty good to me, and to keep thier best deposits off the contract says they have something they dont want anyone to have a piece of.


----------



## tony montana (3 September 2007)

Nice little move again today, after another confirmation that GFA will back them no matter what.......its going to be an interesting few weeks. Probably should have bought more in that so called market correction.


----------



## steven1234 (3 September 2007)

There has been a fair bit of activity going on with CQT.  We should get some good announcements soon and the institutional roadshow should commence shortly thereafter.

I'm also keen to see what Goldfields finds.  Comparisions to Yanacocha indicate the current deposit is only a small offshoot.  Wont take too much to get the price of CQT multplying if this is correct.

Then there is all the speculation that the price of gold will increase.  

Hopefully the market will see the value in CQT shortly.


----------



## powerkoala (4 September 2007)

wow wow
last minutes actions was impressive.
big buyers jump in with 100k orders each.
nice close. 82c.
it's been a while it below 80c.
good luck to all holders


----------



## robandcoll (4 September 2007)

Last minute action has been happening at close now for 3 weeks. Either co incidence or someone is having a go at it but very quitely


----------



## steven1234 (4 September 2007)

robandcoll said:


> Last minute action has been happening at close now for 3 weeks. Either co incidence or someone is having a go at it but very quitely




This has been going on for months now, not just the past few weeks.  There have been days when it looked like CQT would close down on low volume, then whooska, a huge buy order is put in at the end of the day to take out a few buyers and end the day in the green on average volume.

I would love to know if the same entity is doing all that buying.


----------



## tvhead (5 September 2007)

Imo, this buying at the end of the day is some one that knows a big announcement is coming, and when it doesn't come by the end of the day, he, she or them buy more knowing they are still at a bargain price. So maybe we should all buy more and keep the price moving up


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## steven1234 (12 September 2007)

CQT is in a trading halt until announcement or open on Monday.  

Lets hope they don't follow the previous trend of announcing good news at bad times in the market.  The price of gold should work in its favour.


----------



## tony montana (15 September 2007)

any ideas whats going on with cqt and the reason behind the trading holt ?
lets hear it people........


----------



## robandcoll (15 September 2007)

could be:

   - scoping study report.
   - Infill drilling results to upgrade resource to a measured result.
   - Capital raising though I doubt that as they have $15m in bank but dont discount it.
   - The Goldfields factor


----------



## steven1234 (15 September 2007)

I was reading through the recent CQT anouncements to get a fresh feel for where the announcement to be released monday (pre market) will be heading. 

I was alittle worried that the DOW was going to tank last night and that the announcement would be released on a weak day in the market (as has happended with previous releases of CQT...)

Following is a summary of what i found in my readings in relation to the future of CQT:

* CQT is presently undertaking pre-feasibility work with a view to developing an open pit mining operation
* Roadshow and powerpoint are long overdue
* Resource to be upgraded to measured status.
* It is planned to complete this infill program by the end of August, and to then compile the data for new Resource Estimation and Pit Optimisation. 
* Scoping study has been commenced
* In some resent holes, gold content is increasing towards the bottom of holes and there is substantial evidence of a major breccia pipe or diatreme. 
* It is possible that the entire 1km diameter circular magnetic target presented in previous announcements is actually due to a massive breccia pipe.
* If the circular target is a massive brecca pipe, it begs the question what is down below? For pipes to be shooting up 1klm in diameter, the underlying resource must be huge!!! This may be what has attracted Goldfields and is responsible for the comparisons to Yanacocha (i don't know much about Yanacocha at all, except that it is a huge system). Maybe this is what they will be presenting in the roadshow? How much would it it cost to drill deep below to test this theory? Could this be why they have entered into the JV with Goldfileds? GF may be more concerned with what is far below than near the surface??
* If the circular target is a massive brecca pipe, it begs the question how many other similar pipes have we got with resource potential close to the surface nearby? 
* Could this also somewhat explain why CQT was keen to terminate the farm in agreement with Basin Gold? Why share the fruits of a large system with someone contributing little?
* metallurgical program progressing well with floatation testwork. Initial results indicate excellent recovery of precious metals.
* Exploration drilling aims to test the area between Silver Hill deposit and Herbert Creek East deposit.
* The last quarterly ended with "Drilling is planned to continue during the year with the objective of better
defining the extent of the both the Silver Hill deposit and the mineralised system". Could this be a way of CQT confirming that the current deposit is belived to be only a minor offshoot of a much larger deposit? Identification of the mineralised system is something which the GF resources and experience are better suited to doing. It appears that at the mement the exporation risk taken by GF relates to whether there is a major mineralised system in the area. If there is no such major system identified GF should not spend more than $5mil in drilling and leave the open pit operations identified or suspected to CQT to exploit. 



I don't think we will get the new resource estimate as the infill drilling would have only been completed in Augutst. This may be due further down the track. This leads me to believe the roadshow may also be further down the track. 

I think the news will be the scoping study which was due to be completed late August. We should get a time-line schedule and plan for development of the project as a mine. 

The news could also be the results of drilling the area between Silver Hill deposit and Herbert Creek East deposit. Ift would be positive if the 2 deposits are one in them same.

I'm a little diassapointed the announcement did not come out after close on Friday, i would have liked to have gone over it on the weekend before market open. 

Anyways, this is my view, what's eveyone else think?


----------



## drmb (17 September 2007)

Ann out - resource upgrade - market does not seem to have reacted much - at 10.30 up 2c, CQT 0.790 0.800 0.800 +0.020 0.800 0.810 0.790 373,777 

17 September 2007 Resource Upgrade at Mt Carlton
HIGHLIGHTS
- Consultants Hellman & Schofield estimate Silver Hill Deposit Combined Indicated and Inferred Resources to be 16 million tonnes at 1.85 g/t gold, 58 g/t silver, and 0.33% copper based on a metal value cut-off of $20/tonne.
- Total Mt Carlton Resources now estimated to be 17.8 million tonnes at 1.79 g/t gold, 58.7 g/t silver, and 0.31% copper for contained 1 million ounces gold, 33 million ounces silver and 55,000 tonnes copper.
- Milestone of 2 million oz gold equivalent resource now passed.
- Significant resource increase in silver of 60% and gold 20%.
- Regional Joint Venture partner Gold Fields commenced exploration work with Pole-Dipole IP geophysical survey, and geological mapping and soil sampling programs.


----------



## tony montana (20 September 2007)

could someone pls explain to me why cqt would come out of a trading holt and on a good week for the market and they drop whats going on there.?


----------



## steven1234 (20 September 2007)

I have NFI.  And the price of gold is flying atm...  

I'm backing this in this months tipping comp and was expecting big things, but it seems to have fizzled again.  

This will happen, it just wont happen overnight.


----------



## tvhead (20 September 2007)

I think they are dropping off small, insignificant trades, the announcements have been ok, but i expect bigger and better things coming up


----------



## steven1234 (24 September 2007)

JT bought at market at just under 74c a share on average.  It closed today at 72c.  

Its interesting that he bought just after each announcement (ie the resource upgrade and drilling update.)  Maybe he himself can't belive the market's reaction to the announcements and expects a lot more.  

The $276k investment is equivalent to an increase of 2% of his holdings.  

On 28 December 2006 he increased his holding by 9% or spent $445k off market.  Right after this the price broke resistance and nearly doubled.  It ran from 51c on close on 28 December 2006 to a high of 97.5 on 24 January 2007.  What i find quite interesting about this run is that it was not in response to an announcement as the last price sensative announcement was released on 13 December 2007.  Will this be repeated in the next month?


----------



## tony montana (26 September 2007)

not a great deal happening with cqt......very little volumes being sold no ann....does anyone have anything to bring to the table about cqt ?


----------



## steven1234 (26 September 2007)

We are due for some more news any time now in relation to the scoping study which was due to be completed late August. This should give us a time-line schedule and plan for development of the project as a mine.

There are also rumours that the institutional road show will commence shortly, but these rumours have been going rounds for a few months now...  We should get a powerpoint presentation released when the roadshow commences.  I would have expected the instutional investors to have started buying up if the road show was due to commence anytime soon.


----------



## Nicks (28 September 2007)

drmb said:


> Ann out - resource upgrade - market does not seem to have reacted much - at 10.30 up 2c, CQT 0.790 0.800 0.800 +0.020 0.800 0.810 0.790 373,777
> 
> 17 September 2007 Resource Upgrade at Mt Carlton
> HIGHLIGHTS
> ...




How deep where these results?
and how thick were the veins?
I remember this company sitting on some massive potential copper resource. Can someone comment on the copper resource potential CQT has? thanks


----------



## tvhead (25 October 2007)

Some good action in recent days, and a lot more bought on Tuesday and Wednesday, any one got any ideas what is up? We haven't seen an annoucement for a while.


----------



## Dukey (31 October 2007)

CQT in trading halt this morn until commencement of trade on friday - or upon announcement. This follows a 15% or so jump in SP last weekish.  
Any ideas whats going on folks??


----------



## grendel (31 October 2007)

I reckon it'll be something along the lines of "Dad, I've dug another hole. . ."

Although it might also be about what came out of the hole - which is after all the fun of a drilling program. Most the Halts to date seem to have been about resource upgrades.


----------



## Dukey (31 October 2007)

Probably right grendel but then we already had a resource upgrade on the 17th Sept; and a 'drilling update' on the 19/9. So I wasn't expecting anything new there yet.

Having said that - CQT do tend to go into halt before  upgrades.... lets hope its a good one, or something nice out of left field....


----------



## steven1234 (31 October 2007)

I predict it will be drill results from the holes drilled but not yet assayed in the quarterly.  Some of these were a distance from the other holes that form the current resource.  If they are good it could result in a significant increase in the resouce.    

I have a feeling it is something good.  Didn't we get JT (director) buying a few weeks back?


----------



## tvhead (1 November 2007)

The rise is the last couple of weeks indicates it is probably going to be good news. There was also a good spike on monday.


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## Dukey (1 November 2007)

tvhead said:


> The rise is the last couple of weeks indicates it is probably going to be good news. There was also a good spike on monday.




News out - Institutional placement of 33 000 000 share @ 68c for $22.44M dollars.  To be used as working capital - exploration; feasibility studies; growth etc.

Seems like a sensible idea to me. -Having the the deal opened and closed in a day seems to indicate that the big end of town likes the look of CQT - which is nice - though the market doesn't seem to like the news that much - SP down 3c??

go figure..... 
I like it anyway... and thats what counts!!

ps. tvhead: your icon/pic/whatever-they-call-it - with a name like that - I presume its you on the right rather than the 'Dr Roids' on the right... right??


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## tvhead (2 November 2007)

I think it is very good when they say "the offer was opened and closed on the sam eday and was more than two times oversubscribed. This means to me they told thier investers something very good. p.s dukey im none of them. The big guy is Ronnie Coleman the fomer 8 time mr olympia.


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## robandcoll (5 November 2007)

Up again today. Was not long ago it was at 62c. Now 80c odd. Oversubsribed with the Inst. Plus now has 36 mill in the bank


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## steven1234 (6 November 2007)

The instutional powerpoint presentation was released to the market today.

I'm looking forward to the reaction of the share price upon Gold fields releasing some results.  The chartists are also praising this expecitng strong short term gains.


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## tvhead (7 November 2007)

How do you find chartist information, im new to this and would like to learn as much as i can


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## steven1234 (7 November 2007)

"Chartists" is a reference to those that conduct technical analysis.  

There is heaps of info on technical analysis available in books and the web (and also this forum).  This is a good place to start - http://en.wikipedia.org/wiki/Technical_analysis

or 

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_char 

The above page has a link on the bottom to a heap of common patterns.  

The following site gives examples and has someone reading charts and showing you what the indicators mean - 

http://www.leavittbrothers.com/chartspeak/ 

You can spend years studying and still get nowhere...


Did everyone notice what info was snuck into the announcement today.  Have another read and pay attention to the final bullet point enclosing the Appendix 3b which read:

there is no information excluded from this notice ... except that CQT has received a quarterly progress report from Regional Joint Venture Partner, Gold Fields Australasia Pty Ltd (Gold Fields), regarding progress on the Regional Joint Venture. Amongst other things, the report indicated that following some Pole Diopole Induced Polarisation Testing, an area to the east of the Silver Hill deposit, has been identified by Gold Fields to warrant exploration drilling.
Drilling will commence on the area as soon as practical and the Company will provide an update on the drill results if they indicate the existence of mineralisation.


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## moneymajix (9 November 2007)

Just looking at drmb's chart on the potential breakout thread.



> CQT moving up on volume with no news really - so to speak





Lot of volume recently and today. 
Most volume this week since January, I believe.

Finished up over 8% at 84.5c.

Gold price has been rising.

See what Monday brings.


I have a price target. What do you think?


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## robandcoll (11 November 2007)

*there is no information excluded from this notice ... except that CQT has received a quarterly progress report from Regional Joint Venture Partner, Gold Fields Australasia Pty Ltd (Gold Fields), regarding progress on the Regional Joint Venture. Amongst other things, the report indicated that following some Pole Diopole Induced Polarisation Testing, an area to the east of the Silver Hill deposit, has been identified by Gold Fields to warrant exploration drilling.
Drilling will commence on the area as soon as practical and the Company will provide an update on the drill results if they indicate* *the existence of mineralisation.*

Caught my eye as well Steven, but I think a few more have read it hence the increase in SP.


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## moneymajix (29 November 2007)

http://www.asx.com.au/asxpdf/20071129/pdf/3164pdtqjgsccr.pdf


*Gold Fields JV Discovers New Anomoly*


Goldfields Regional JV Exploration Highlights :

● Exploration by Gold Fields has resulted in the discovery of a large geophysical
anomaly which straddles the boundary from Conquests 100% owned Mt Carlton
Project to the surrounding Regional Joint Venture ground.
● The target is located 500m southeast of Silver Hill deposit and along the strike
of the south east trending gold zone, with dimensions of 700m x 200m.
● The geophysical survey also maps out the Silver Hill Deposit and shows
clear and strong correlation with the drill defined high grade centre of the Silver
Hill resource.
● Goldfields are currently drilling their first diamond hole into the new geophysical
target.
● Conquest has completed RC hole HC07RC374 into the new target and has
intersected silicified and pyritic felsic volcanics similar to Silver Hill deposit.


SP - 71c


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## steven1234 (30 November 2007)

Dissapointing reacation from the market to the announcement yesterday.  

Lets see if the buyers come out of the woodword today.  If it stays at these levels i might have to buy some more.


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## steven1234 (3 January 2008)

Looks like CQT is finally making another move up after breaking out of its downward trading pattern.  It looks like the price of gold is helping this happen.


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## moneymajix (7 January 2008)

*AFR Smart Money Section *

*20 Stocks to watch in 2008*


*No.8 *Conquest Mining

A price anaylst is quoted as saying...

"I cannot work out why Conquest is trading down where it is. The exploration upside is enormous."


Current sp - 65c


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## tvhead (16 January 2008)

Back to 65 cents again. Anyone think any news is coming, they haven't released something for a while now


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## tvhead (16 January 2008)

The Weekend Financial Review
January 5-6, 2008
Page 35
Smart Money
“20 Stocks to Watch in 2008”
Stories: Nina Wan, Michael Vaughan and Paul Garvey
No 8 Conquest Mining
Sometimes the best way to judge a company is by the company it keeps. In the case
of Conquest Mining, its joint venture partner in the Mt Carlton project in Queensland
is South Africa’s Gold Fields, one of the world’s biggest and most respected gold
producers.
Gold Fields’ recently struck JV with Conquest will see it drill some 150,000 metres of
drill hole throughout the portion of the Mt Carlton project that Conquest hasn’t
explored to date.
Once it’s fulfilled its substantial drilling commitments, it will have earned a 51 per cent
interest in the wider project.
The reason for Gold Fields’ original interest – the Silver Hill deposit – will remain
wholly owned by Conquest, although Gold Fields will have a right to buy a 50 per
cent interest in that deposit once it does its drilling.
Silver Hill is already home to gold and silver resources equivalent to 2 million ounces
of gold, making it one of the more noteworthy greenfields gold discoveries in
Australia.
Conquest is currently trading at a value of $80 to $90 per gold ounce equivalent
identified to date – a price that analyst with Hogan & Partners Tony Lofthouse says
does not do justice to the potential upside set to be evaluated by Gold Fields.
“I cannot work out why Conqest is trading down where it is. The exploration upside is
just enormous,” Lofthouse says.
The company suffered from a volatile share price last year, its shares peaking at just
shy of $1 before ending the year around 60c.

This was on there web site if you havent already seen it


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## Dukey (25 January 2008)

Two announcements appeared in my inbox this afternoon... both sound good, so hopefully these will attract some attention back to CQT.

Both articles available from CQT website here.



> 1. High grade Gold intersections at V2 hill.
> HIGHLIGHTS
> #Diamond drillhole HC07RCD378 intersected 36.2m at 23 g/t gold, 112 g/t silver & 1.97% copper on V2 Hill.
> #Diamond drillhole HC07RCD377 intersected 23.9m at 20.4 g/t gold, 72 g/t silver & 1.51% copper on V2 Hill.
> ...



2. An article in the Townsville daily bulletin refers to a site visit by potential chinese investors.
 stating that 'the job is far too big for CQT to do alone'.

(although they already have gold fields on board..??.)

Hope these turn out to be the news you were looking for tvhead!  - Up a few cents today along with everything else on the bounce. - Will be interesting to see if  CQT continues up on the back of these announcements.

-dukey


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## steven1234 (18 February 2008)

The 7 Feb 08 Tollhurst research report rated CQT a buy with a $1 price target.  The shareprice response to the news has not been positive.  We need something bigger like Goldfield News or an updated resource to get the price moving.      

The report is available from the CQT website - http://www.conquestmining.com.au/pdf/371_tolhurst_research_report_07fe08.pdf 

excert - 

As at the end of December, Conquest had approximately $33m cash in the
bank. Given cash burn is estimated at $1.5m to $2.0m per quarter, and
interest earned would cover around half of that to. Conquest is in a very
comfortable cash position until it makes a firm decision to develop Mt
Carlton, where upon we estimate the company will require additional capital
of the order of $80 to $90m (after allowing for further exploration spend as
well as capex).


Valuation

We currently have a valuation of $1.07, using a long term gold price of
$US600/oz and silver of $US11/oz. Using current spot precious metal
prices, the NPV increases to $1.39 per share.


Recommendation

The combination of an upgraded valuation due to our higher long term gold
price, and the lower share price of Conquest has necessitated an upgrade in
recommendation from ACCUMULATE to BUY. The stock is now trading at
less than half our valuation, with considerable further potential exploration
upside.


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## tvhead (27 February 2008)

I still cant believe this share isnt moving up. Everything about it is positive, it has money in the bank, the 3rd or 4th biggest gold mining company in the world has jumped on board, all the exploration result are good, the gold price is high, yet it is  slowly going down from small little trades. I wish they would hurry up and make a good announcement to show the real value of this share!!


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## Uttsy (27 February 2008)

tvhead said:


> I still cant believe this share isnt moving up. Everything about it is positive, it has money in the bank, the 3rd or 4th biggest gold mining company in the world has jumped on board, all the exploration result are good, the gold price is high, yet it is slowly going down from small little trades. I wish they would hurry up and make a good announcement to show the real value of this share!!




I think its mainly because at this point in time the market is mainly focusing on companies that actually have something tangible and that are making money. All the specs have been getting absolutely hammered RMS, GME, ARE to name a few because basically all they have at this point in time is dirt in the ground.


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## Firdy (11 March 2008)

Yes this company looks great on paper.  At share price of 49 cents with $33 million cash in the bank, market cap of $135 mill, and resource of 1.5 mill oz, the Market Cap/Resource ratio adds up to paying $ 89/ounce of Resource.  A really solid partner.  It seems like a bargain.

But with no announced plan to produce (correct me if I am wrong), there is heaps that can go wrong.  Plant overspending, cost of production?   $ 33 million does not go far.

While I have benchmarked this company as one to watch, I am looking only at companies that have a better MktCap/Resource ratio, and are in or close to profitable production.

I guess other investors are doing the same, and, in my view, that is why Conquest's price will keep slipping.


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## tvhead (3 April 2008)

Any one got any ideas what will happen to the share price with the latest announcement? John Terpu might lose all his shares, so what happens to the shares he had.


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## Dink (15 April 2008)

Great announcement today. Significant resource upgrade. Interestingly not a single comment on this forum...


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## steven1234 (15 April 2008)

You forgot to mention that Goldfields increased its holding by half of its prior holding to 13.74% of CQT.


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## tvhead (28 April 2008)

Big jump on Friday. Any ideas why????? I cant see why it would go up from the opes collapse and ANZ trying to rip off Jon.


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## steven1234 (28 April 2008)

And another 12.26% rise today to close on .595.

Its not uncommon for CQT to run some time after a good announcement.  Some may have been prepared to wait for the dust to settle with the ANZ proceedings before they bought in, hoping there may have been a dump of shares on the market by ANZ.  

It looks like the resource upgrade is finally being digested by the market in a positive light.  If we are lucky we should get futher drilling results, or results of Gold Field's drilling in the Quarterly.  There is a lot of activity going on at the moment.    

I am also of the view that the case against ANZ and Merryl Lynch is starting to develop cracks.  If all goes well they will have to buy on market to return shares previously sold.  Its quite comforting to see the basis of JT's case against ANZ and ANZ's conduct in not selling any further CQT shares despite the injunction being lifted.  It may even be Goldfields stategy to bid for CQT prior to the Opes related proceedings being finalised in case that places upward pressue on the price?? 

TV i can't pinpoint any single reason for the price activity we have had in the past 2 days, but i'm not complaining at all.  Its good to see buyers lining up and sellers thinning out again.


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## tvhead (30 April 2008)

I think your spot on. I also think it is highly likely for Goldfields to takeover Conquest, there seems to be a lot of buyers all of a sudden


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## grendel (2 May 2008)

I note that the latest announcement show Goldfields acquiring an addition 5% or so of the stock taking their holdings to over 19%. What are the implications of this with regards to a takeover - eg is there a trigger amount of stock they need to acquire?


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## tvhead (12 July 2008)

it's been very quiet on this thread, any one got any news or anything???
Cqt haven't made a good announcement for a while, i would hope something is coming up soon?


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## steven1234 (27 July 2008)

Quarterlies due this week.  Hopefully there is something positive in relation to the holes that Goldfields has drilled in the JV region.  Maybee this may be behind the silence.


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## Garpal Gumnut (8 August 2008)

CQT have a few holes just down the road from me,  and in spite of the fundamental optimism their share price continues south.

Their diggers are as busy as one legged line dancers, so whats the go?

The chart has a gann fan and the trend is down down down. 

gg


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## rub92me (20 March 2009)

Bit baffled why no one on the forum seems to be interested in this one. Big buyer appeared on the scene about 8 days ago, and has continued buying despite a more than doubling in price. I'm happy to hang on to his coattails taking some profit on the way. :


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## Garpal Gumnut (21 March 2009)

rub92me said:


> Bit baffled why no one on the forum seems to be interested in this one. Big buyer appeared on the scene about 8 days ago, and has continued buying despite a more than doubling in price. I'm happy to hang on to his coattails taking some profit on the way. :




Any news on this stock.

It has a SA monster in the wings to take it over but mostly seems to traded by hotcopper losers.

gg


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## Sean K (21 March 2009)

Garpal Gumnut said:


> Any news on this stock.
> 
> It has a SA monster in the wings to take it over but mostly seems to traded by hotcopper losers.
> 
> gg



JRR have increased their stake a bit and a director added a whopping $15K to his holdings. No other news. No real reason fr the jump except risk coming back to the market perhaps.

Maybe Mt Carrington results in Feb?


ASX RELEASE
26 February 2009

*Market Update on Mt Carlton Project*

● Drilling by Gold Fields on Conquest’s Silver Hill Deposit has resulted in some spectacular wide zones of high grade gold mineralisation including 133m at 9.06 g/t gold, 88.1 g/t silver, and 2.07% copper from 60-193m depth in hole MCR024D. This includes 46m at 18.8 g/t gold.

● High grade mineralisation was also intersected in a further 7 of the 9 completed holes with gold grades in the 5-10 g/t range over 20-47m widths.


This should increase the current resource considerable once plugged in. 

Currently have 2,650,000 oz au equiv which is pretty handy.

Has $28m in the bank so looks solid for a while.

Chart looks like heaps of resource juniors up until that break through .25


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## rub92me (21 March 2009)

Garpal Gumnut said:


> Any news on this stock.
> 
> It has a SA monster in the wings to take it over but mostly seems to traded by hotcopper losers.
> 
> gg



I've never visited hotcopper, so wouldn't know about that 
You don't seem to like this stock for some personal reason, and that's fine with me. The management of this company is pretty switched on imo. Not a guarantee for succcess of course, but good enough for me for now.


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## robandcoll (17 April 2009)

announcement out today and surprised no postings with this one. Closed at 43.5c

ASX RELEASE
17 April 2009
Conquest to Progress Towards Production at Silver Hill
HIGHLIGHTS
● Conquest Board makes decision to proceed towards production at Silver Hill within 2 years
● Project Internal Rate of Return in excess of 70% with payback in less than 2 years
● Base case production of up to 50,000tpa of high grade concentrate and 100,000tpa of low
grade concentrate
● Net Present Value (NPV) in excess of A$300 million
● Immediate commissioning of Definitive Feasibility Study
Pre-Feasibility Study Completed
Conquest Mining Ltd (“Conquest”) (ASX:CQT) commenced a Pre-Feasibility Study (“PFS”) in 2008
on its Silver Hill gold/silver/copper deposit in North Queensland. The Company announced on 26
March 2009 that an updated resource estimate had improved confidence for the PFS.
The actual results of the completed PFS demonstrate the economics of the Silver Hill Project are
sufficiently robust and better than expected. Accordingly, Conquest is pleased to announce
approval for the commissioning of a Definitive Feasibility Study (“DFS”) prior to a final decision to
commence production at Silver Hill.
Key Findings
The key findings of the PFS which are estimates based on certain assumptions1 and
methodologies, include:
● Project Internal Rate of Return in excess of 70%
● Net Present Value (NPV) in excess of A$300 million
● Capital payback in less than 2 years of production
● Pit optimisation of 6 million tonnes (Mt) with mine life in excess of 6 years
● Processing capacity up to 1 million tonnes per annum (Mtpa) to produce a high grade
gold/silver/copper concentrate plus a low grade concentrate
● High grade concentrate grades of 60 g/t gold, 1000 g/t silver and 10% copper
● Base case production of up to 50,000 tpa of high grade concentrate and 100,000 tpa of low
grade concentrate
● Bulk of precious metals to be available for sale in a high grade concentrate. The remainder will
be produced from a low grade concentrate processed on site2.
● Effective gold equivalent production of 800,000oz with an annual average gold equivalent
production of 135,000oz
● Gold equivalent production made up of 72% Gold, 15% Silver & 13% Copper
● Life of mine operating costs of less than A$400/oz
● Upfront pre-production capital cost of approximately A$110m
1. Pre-tax assuming US$900/oz Au, US$12.50/oz Ag, US$4,000/tonne Cu and a FX of US$0.70 to A$1.00
2. Extraction of valuable metals in the Low Grade material will include the application of bio oxidation
These PFS findings clearly demonstrate the outstanding returns expected from development of the
Silver Hill Project, indicating an estimated cash operating cost of less than A$400/oz for
annualised production of 135,000oz gold equivalent over a mine life in excess of 6 years with
estimated pre-production capital cost of A$110 million.
Independent Consultants
Preparation and validation of the PFS has been done with the assistance of reputable independent
consultants overseen by Conquest. These independent consultants include:
- Mine Design and Cost estimation - AustralAsian Resource Consultants (AARC), Australian
Mine Design & Development and Optiro Pty Ltd
- Flotation Design and Cost estimation - AARC and Calder’s Engineering
- GEOCOAT ® Design and Cost estimation: - GeoBiotics and Mike Gunn
- Geology and Resource Model - Hellman & Schofield
- Metallurgy - GRD Minproc & AMTEC
- Environmental Impact Study – AARC
- Market and pricing - CRU
- Financial model development - Azure Capital
Off-Take Arrangements
As announced on 1 April 2009, Conquest has also materially progressed discussions with potential
off-take counterparties. Conquest is confident it can negotiate off-take contracts (on acceptable
terms) in the medium term.
Summary
The rigour and maturity of analysis reflected in the PFS through various iterations of the project
have provided the Board with sufficient comfort to immediately proceed to the next stage of project
development. Conquest will now commission a DFS to further confirm the findings of the PFS as
well as to seek to optimise the project to increase potential returns.
In the coming months, Conquest will define the timing of completion of the DFS and, subject to the
results of that study, the anticipated timing for production commencement at Silver Hill. It is
currently anticipated production will commence within 2 years. The Company will advise on more


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## robandcoll (12 June 2009)

Up 19% today to close at 52.50c and big volume. Seems a quite stock with not much interest but 19% does indicate that some is at least interested.


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## ShareGuy (4 July 2009)

This is an interesting stock with some positive announcements lately. Looks like theres reasonable support around 47c.

Anyone else following this one? It does seem unusually quite at times given the price action.


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## JnrTrader (3 August 2009)

just recently researched this company and so far so good, i like it.they are in a good land position, in close proximity to the 10m oz charters towers and with results due very soon for the next round of drilling perhaps this is one to get on for the ride.


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## robandcoll (13 November 2010)

Wow - Cant belieive no posts on this for a year now. New board including the old SinoGold boys and have just acquired NQM (Northern Queensland Mines).


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