QOL - Queensland Ores

[jman2007]

I agree Jman, not good.

im wondering if someone knows something we dont.

From a personal opinion do you see that the ore will be easy to process etc?? Could they be having problems with the commisioning or something?

I know mine life is an issue but im confident it will get upgraded

Hi Prawn,

As far as I'm concerned, (and the Market is concerned?), Wolfram is more or less on track. The 11.5% drop today does seem a little over the top, but as Nioka notes, they have got the ball rolling at least, despite a certain amount of pain we may have to go through.

I wonder if there'll be a stream of QOL investors hurrying down to the bank to cancel their SPP cheques that they've recently posted off..

I suppose the DOW being hammered by 220 points Friday was always going to lead to some bleeding today, at this stage we just have to trust and believe what management are telling us, in general they have been doing a good job of keeping us informed of developments.

Sorry mate, but the beatdown has me a little beat too...

jman

 

[nioka]

The main problem will come if the SP falls below the new offer price but the issue is underwritten to a certain extent. Production will commence and even if it is a little late it will still commence. Patience is always needed with new ventures like this one. I'm happy to hold. I'll take up the offer if I can't buy cheaper on the market. I'm happy to increase my holding.

Correction. The current offer is not underwritten as far as the general shareholder offer is concerned. The first placement has been made and the new shares are being issued today. If too many investors want to get in through purchasing the price could stay below the 12c and may not go past the 12c that are offered through the placement. The placement incurs no brokerage, purchasing does but unless the quantity is small that matters little.

 

[AnDy62]

I'm just being patient with QOL. Good prospects.
Tax selling and this cap raising are hurting atm, but in they will both be out of the way soon. The co will have cashflow and hopefully money to expand the minelife of Wolfram and further develop the Mt Cannindah project. Moly/tungsten plays are still sneaking under the radar but IMHO this will change in the next 12 months due to supply/demand factors.

 

[prawn_86]

LOL, dopnt you just love how the CEO gets 1mill options at less then the current options strike price with a year longer to get to that price.

His options are at 30c in dec 09, QOLOA is 35c in Dec 08.

Management have lost my respect thats for sure. Its a shame because they were doing so well until they virtually gave a chunk of the co away at these low prices.

 

[doogie_goes_off]

Great news for QOL holders, first molybdenum concentrate produced at wolfram camp - that's going to = cash flow very soon!

 

[ands]

A recovery for this one anytime soon? I keep thinking of topping up as this stock looks great going into the future, but I am wary of putting any more money in after topping up at 15.5c and watching it slowly fall 0.5c at a time. Not to mention the fact that there are loads of sellers. Will the tides turn when the share purchase plan ends or has management just stuffed everything up? Lost the faith of investors? After saying all this looks like the perfect long termer!

 

[Synergy]

Hmm I decided to hold tight and ride this out.

I wasn't too worried with the SP sitting at around 12c, but it's starting to look a little ugly now. I'm not sure how soon the recovery will come, but i'm pretty confident that it will. A long term buy for sure.

If I owned a few less I'd be topping up too.

 

[juw177]

After saying all this looks like the perfect long termer!

Why is that? Do you think Wolfram will make the company? Or you just have an emotional attachment to the stock?

 

[ands]

Why is that? Do you think Wolfram will make the company? Or you just have an emotional attachment to the stock?

I don't know about make, but it will certainly help build it, cashflow from the mine can only be a good think for QOL on their way to bringing the Mount Cannindah project into a producing mine.

 

[ands]

Got home early from work and noticed that some massive orders when through at 10.5c today. Must be some good news coming...?

12:14:33 PM 0.105 118,635
12:14:33 PM 0.105 119,365
12:11:44 PM 0.105 20,000
11:43:49 AM 0.100 2,567
11:43:49 AM 0.100 2,433
10:45:26 AM 0.105 19,000
10:06:46 AM 0.105 4,760
10:06:46 AM 0.105 181,240
10:06:46 AM 0.105 155,000
10:06:46 AM 0.105 159,000

 

[nioka]

Got home early from work and noticed that some massive orders when through at 10.5c today. Must be some good news coming...?

12:14:33 PM 0.105 118,635
12:14:33 PM 0.105 119,365
12:11:44 PM 0.105 20,000
11:43:49 AM 0.100 2,567
11:43:49 AM 0.100 2,433
10:45:26 AM 0.105 19,000
10:06:46 AM 0.105 4,760
10:06:46 AM 0.105 181,240
10:06:46 AM 0.105 155,000
10:06:46 AM 0.105 159,000

Don't get too excited. I doubt if they are MASSIVE orders. The company is in production which should generate some interest, that was good news a day or two ago. Just relax and wait for a slow improvement and if anything else comes along it will be a bonus.

 

[tlc069]

Queensland Ores -wolframite and Molly

Very interesting can not understand the share price 0.105c
for a mine to be up and running and producing within 8 months is absolutly amazing! so whats going on?

visited this site a week or so ago and the progress was quite incredable, after spending the past few years in the West dealing with BHP iron ores RGP 2/3 even the though the scale of those projects was incredable, for a small minor such as QOL in north quensland to be commishioning, mining and with around 28,000t of prossess matirial at hand, below buget and ahead of production and mining with processed ore on the ground seems to be incredable, so what are we all doing? have we all simply over looked some of these smaller explorer / producers with the chinese jumping at there heals to buy there product..... very impressive to say the least

someone fill me in

 

[Bushman]

Re: Queensland Ores -wolframite and Molly

Very interesting can not understand the share price 0.105c
for a mine to be up and running and producing within 8 months is absolutly amazing! so whats going on?

visited this site a week or so ago and the progress was quite incredable, after spending the past few years in the West dealing with BHP iron ores RGP 2/3 even the though the scale of those projects was incredable, for a small minor such as QOL in north quensland to be commishioning, mining and with around 28,000t of prossess matirial at hand, below buget and ahead of production and mining with processed ore on the ground seems to be incredable, so what are we all doing? have we all simply over looked some of these smaller explorer / producers with the chinese jumping at there heals to buy there product..... very impressive to say the least

someone fill me in

Who knows? I think the market is waiting for clarity on the solvency of the enterprise.

If you valued this oeration at replacement cost, it would be worth plenty IMO. Imagine trying to build this plant in today's market with spiralling engineering adn credit costs?

Once solvency is clarified, this obne will be re-rated IMO.

 

[nioka]

Re: Queensland Ores -wolframite and Molly

Who knows? I think the market is waiting for clarity on the solvency of the enterprise.

Once solvency is clarified, this obne will be re-rated IMO.

I can't see a solvency issue. While there is not a good case for taking up the new issue at above the market price, isn't the issue underwritten?. The company seems to have commenced production OK.

 

[ands]

Geez... plunging to new lows today on a good day overall for the market. It ended up only taking 2 days of pretty high volume to eat its way through that 10c level of buyers which was up to 3 million...

 

[AnDy62]

Someone dumped 1 million shares on market today which is a lot for QOL, this market isn't nice, we need some good news to come out because things aren't looking too bright technically

 

[Family_Guy]

I hold this at 10.5, but noticed the last 4 or 5 days the volume steadily increase and the last 2 days have been biggies. Could this be an insider thing knowing there maybe some bad news or the market just playing funny buggers?
I can't help but think someone needed some $$$ to throw on somewhere else with a bit more ups and downs than QOL.

 

[nioka]

There could be short term problems for QOL. The new issue was not underwritten as far as I can see. The offer price was more than the SP for days prior to the closing date. Like many others I did not take up the offer. The company has not therefore raised the funds it wished to do. An announcement from the company is necessary for an assessment of the outcome. If the company can tighten it's belt and manage with less funds and get production income then there is a benefit to shareholders as there is less dilution of the share value. Some are chosing to bale out and this can cause a mini lemming rush. Maybe a good time to buy.

 

[doogie_goes_off]

The funamentals of the company look secure, people are shy of committing money to the coffers to prop up exploration at Mt Cannidah IMO. Basically we are likely to see steady production and cash flow from Wolfram Camp and they should focus on nearby W-Mo prospects to keep the mine life up and running. The percieved technical risk is probably a bit high for the insto's but in reality this is a great little operation with a few years under the belt yet. If I was them I'd look at getting a partner in 50/50 on Mt Cannidah to keep it progressing to a viable size and concentrate on creating a return for shareholders from Wolfram Camp.

 

[dubiousinfo]

There could be short term problems for QOL. The new issue was not underwritten as far as I can see. The offer price was more than the SP for days prior to the closing date. Like many others I did not take up the offer. The company has not therefore raised the funds it wished to do. An announcement from the company is necessary for an assessment of the outcome. If the company can tighten it's belt and manage with less funds and get production income then there is a benefit to shareholders as there is less dilution of the share value. Some are chosing to bale out and this can cause a mini lemming rush. Maybe a good time to buy.

While the SPP was not underwritten, this was only to raise $3mil. The other $9mil was raised by a placement and that has been completed and the money received.

They raised $9.1mil via the placement and around $0.9mil via the SPP so raised a total of $10mil from the original $12mil planned.

In addition to the $10mil in cash, they are now producing and IF all goes to plan, they are looking at $9.0mil a year free cash from the existing mine. Offtake agreements are in place, just need confirmation that mining and recovery are going to plan.

This is more than enough for exploration on the following:
1. extension of wolfram mine resource
2. Mt Cannindah (copper gold) futher drilling and BFS
3. Bamford Hill exploration.

What they wont have enough for yet is the $80mil + required for the Capex costs for Mt Cannindah.

Not holding but looking to jump back in very soon.