CQT - Conquest Mining
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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 ¢.
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 ¢.
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Thank, can u find a more recent news, today's one?
Realist
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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 )
Quick everyone jump, abort, sell, sell,
But I'll hold and wait for the next announcement, no matter what!!
(famous last words I know
)
Realist
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Its 39 cents now...
Got the guts to buy some more Imajica? 
Got the guts to buy some more Imajica?
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What fundamentals? In this speculative mining business there are no absolutes!imajica said:
Realist
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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.
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.
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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.
Once I begin to understand, maybe then, I will "invest"
"Fundamentals" are generally associated with an investment strategy.
Realist
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redandgreen said:
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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Beautiful explanation, that is the correct situation. It is like a bet, and not investment!
Realist
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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!!
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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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
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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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)
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)
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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!
Realist
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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".
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".
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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.
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".
No, more like 90% gold, 10% silver, jk, hahaha
i fink next ann is Q4
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imajica said:
Imajica, lets try and keep threads on particular stocks on topic. Thanks!
