QOL - Queensland Ores

[prawn_86]

selling at the moment is ridiculous. happened at MHL too on the announcement of the jv partner.

MHL hasnt announced a JV partner yet

but thats a discussion for that thread not this one

 

[Bushman]

MHL hasnt announced a JV partner yet

but thats a discussion for that thread not this one

My sincere apologies - that should read discussions with an as yet potential undisclosed JV partner. But yep it belongs on the other thread.

 

[flyboy77]

The QOl guys really need to focus on growing the resource and hence the mine life (and NPV) at Wolfram Camp.

Long and strong QOL.

 

[Synergy]

Good positive ann this morning. I'm impressed that work started immediately after being given verbal confirmation of their lease being granted. Things look like progressing fairly quickly to production if they keep up this attitude.

 

[prawn_86]

Yeh, good to see things are finally happening now.


Now that development is underway:

Significant attention is now being devoted to the planned resource extension on the property

Will be Australias first Moly producer for many many years

 

[Who Dares Wins]

Good positive ann this morning. I'm impressed that work started immediately after being given verbal confirmation of their lease being granted. Things look like progressing fairly quickly to production if they keep up this attitude.

Yeah I agree. having the verbal confirmation was one thing but getting it in writing is so much better. And a rapid start made to development too. Keeping in mind that only 20% of strike length along known workings has been drilled there is great potential for a resource upgrade in the future.

Strangely though, the options are down 0.7c when I last checked.

 

[doogie_goes_off]

Another milestone released today - they have signed an offtake agreement for concentrates at Wolfram Camp, just after the approval of the mining lease. It will be good to see news of construction milestones etc to see their production schedule come together. First shipment of concentrates should be a day of reckoning for the SP too. Plenty to look forward to.

 

[doogie_goes_off]

Another very positive announcement after close of trade today - new stream sediment anomaly indicating a potential tungsten target within 30km of the Wolfram Camp mining lease, a few dollars spent exploring for the source of this anomaly may see new resources defined and these could potentially be proceesed on site at Wolfram Creek if it all proves up OK. More resources would really supercharge the value of this near term Moly-Tungsten producer.

It's nice to have some blue sky in a fundamentally good stock. I'll hold until post first sales, maybe until a maiden profit. If there are more tungsten-moly deposits located near by I'll hold for a few years yet.

Progress on the site at Wolfram Creek also seems to be on track. Bring on production 2008!

 

[prawn_86]

Another progress report out on the Wolfram Camp mine.

First blast due to be next week. Ball mill and other items have arrived. Concrete slabs have been poured.

Also, in the area where the first blast is set to occur they have found visible mineralisation, where they had not drilled previously, showing that there is a lot of potential for a resource upgrade, which they have been saying all along

 

[jooooooles]

Mining Lease Granted - Check
Native Title Cleared - Check
EPA - Check
Off take agreement signed - Check
Bullish commodities - Check
Long lead items arrived on site Check
First concrete pour on site for plant Check
First blast on open pit Check
'Blue Sky' on increasing resource Check
Cash flow next year Check
Agressive drilling program at Wolfram next year Check


Sellers dumping everytime it attempts to break 28 cents Check

 

[shinobi346]

I don't get the continually falling either. I thought with the formal announcement of the mining lease the sp would go up or at the very least hold. How wrong I was. Either the market had already priced it in or... ?????

So long as the mine is operational on schedule I see money in this one.

 

[doogie_goes_off]

4th Jan announcement of significant (>50m) Cu/Au intersection continues to provide confidence that Mt Cannidah should add some value to the share price when a resource is announced. They are 'continuing' to estimate the resource. I think this will break 30c again if the resource is reasonable - can't speculate though, I haven't looked into it enough yet. Looking forward to a Wolfram camp update in January.

 

[prawn_86]

Yeh im happily sitting back and waiting with this one.

It meets all my criteria:

Relatively unkown for know, so no trader manipulations
Near term producer
Fully funded
Will produce something in demand (doesnt matter if it iis not market favourite like IO is atm)
Reliable Management
Good Shareholder communication



As i have said before, it is only a matter of time before it is realised, and once the cash starts rolling in we should all be happy ... hopefully

 

[Sean K]

What the hell is going on with Moly plays at the moment? Has the Mo price tanked the past 6 months? It's only gone from 35 to 33 hasn't it?

Long term support looked to be between 25 and 27, and now 20 IMO.

I think just about all Mo hopefull's charts look like this at the mo.

 

[flyboy77]

Yeh im happily sitting back and waiting with this one.

It meets all my criteria:

Relatively unkown for know, so no trader manipulations
Near term producer
Fully funded
Will produce something in demand (doesnt matter if it iis not market favourite like IO is atm)
Reliable Management
Good Shareholder communication



As i have said before, it is only a matter of time before it is realised, and once the cash starts rolling in we should all be happy ... hopefully

not fully funded prawn 86. Capex and opex up on original estimates, will need to raise more equity, circa 5m+? to finish the gig.

 

[katalyst]

when are we going to get another update from wolfram? seems awhile since the last one. Also i read in one of the annoucment they were expecting to produce concentrate in Q1 are they still on track for that?

 

[prawn_86]

Another progress report out today.

On track for first shipment in July. At current prices market cap is only equivalent to cost of mine construction etc, so the market is factoring in no upside or production whatsoever

This site seems to have Moly coming out its ears, which is what was originally suggested. They found more visible mineralisation in what they thought would be a waste area.

I am fairly certain that the mine life will be expanded once further drilling can be funded. As they have stated before, they only originally did enough drilling in order to get a big enough JORC to progress with the mine

 

[Synergy]

I think this is looking fairly promising. Pushing off a double bottom on reasonable volume. Resistance should hopefully be fairly thin to 28c. Hopefully it can push through 20c tomorrow with a bit of luck. I'm not seeing any reason for it to have fallen so far considering production is around the corner.

 

[prawn_86]

more good news for QOL, looks like they are finally starting to get everything into place ... hopefully

Queensland Ores Ltd (ASX Code: QOL) today announced further metallurgical testwork on ore samples from Mount Cannindah had identified a cost-effective processing option for the Company’s promising copper/gold project.
...
Initial flotation testwork at 200 and 300 micron primary grind sizes, with no regrind prior to cleaning, produced concentrates containing 30% copper with overall recoveries of copper at 92.4% and 89.0% and gold at 69.9% and 69.8% for the respective grind sizes.

Perhaps someone with geo knowledge could elaborate?

 

[jman2007]

more good news for QOL, looks like they are finally starting to get everything into place ... hopefully




Perhaps someone with geo knowledge could elaborate?

Probably delved into the mysterious and murky world of the metallurgist here Prawn,

Plus I've only ever spent very limited time in met processing

Flotation is used to separate and isolate particular components from a complex ore mixture. There are various ways to achieve this by the use of collectors, frothing agents and so forth, but basically the chemistry of the particle is altered so that it will either repel or attract water.

In this case, probably both the Cu and Au have been selectively attached to a lighter compound and will preferentially rise to the surface of the pulp, and can be skimmed off. The wetted particles will sink to the bottom as waste (the gangue).

Presumably the collected concentrate in this case will be further refined to extract the precious metals. The Au recoveries seem a little low, but perhaps a real metallurgist would have an explanation for this.

I might actually keep a lazy eye on QOL, have been surprised with the recent sp performance considering their progress has been nothing short of sensational compared to some of their rival precious metal competitors, which incidentally have also performed poorly. Moly price still strong at $US33/lb.

jman