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QMINES LIMITED Capital/Financing Update 2021
65647_rns_2021-10-21_530794e5-0d00-4b43-94d2-d729bca64204.pdf
Capital/Financing Update
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Release of Escrowed Securities
Overview
QMines Limited (ASX:QML) (QMines or Company) advises, pursuant to ASX Listing Rule 3.10A, that 1,632,866 fully paid ordinary shares in the Company will be released from escrow on 30 October 2021.
Following their release, QMines will have the following securities on issue:
| SECURITY | NUMBER | RESTRICTION PERIOD |
|---|---|---|
| Fully Paid Ordinary Shares | 54,328,304 | Nil |
| Fully Paid Ordinary Shares | 33,333 | 12 Months from 31 December 2021 |
| Fully Paid Ordinary Shares | 9,860,042 | 12 Months from 18 January 2021 |
| Fully Paid Ordinary Shares | 47,151,069 | 24 Months from 6 May 2021 |
| Unquoted Options | 4,200,000 | 24 Months from 6 May 2021 |
About QMines
QMines Limited (ASX:QML) is a Queensland based copper and gold exploration and development company. QMines vision is to become Australia's first zero carbon copper and gold developer. The Company owns 100% of four advanced projects covering a total area of 1,096km². The Company's flagship project, Mt Chalmers, is located 17km North East of Rockhampton.
Mt Chalmers is a high-grade historic mine that produced 1.2Mt @ 3.6g/t Au, 2.0% Cu and 19g/t Ag between 1898-1982. Mt Chalmers has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag. ¹
QMines' objective is to grow its resource base, consolidate assets in the region and assess commercialisation options. The Company has commenced an aggressive exploration program (+30,000m) providing shareholders with significant leverage to a growing resource and exploration success.
Projects
Mt Chalmers (100%) Silverwood (100%) Warroo (100%) Herries Range (100%)
Directors & Management
ANDREW SPARKE Executive Chairman
ELISSA HANSEN (Independent) Non-Executive Director & Company Secretary
PETER CARISTO (Independent) Non-Executive Director (Technical)
JAMES ANDERSON General Manager Operations
HAMISH GRANT Project Geologist
QMines Limited
ACN 643 212 104
Shares on Issue
111,372,748
Unlisted Options
4,200,000 ($0.375 strike, 3 year term)
This announcement has been approved and authorised by the Board of QMines Limited.
QMines Limited (ASX:QML)
Registered Address: Suite J, 34 Suakin Drive, Mosman NSW 2088 Postal Address: PO BOX 36 Mosman NSW 2088 Website: www.qmines.com.au Telephone: +61 (2) 8915 6241 Email: [email protected]
Peter Nesveda, Investor Relations Email: [email protected] Andrew Sparke, Executive Chairman Email: [email protected]
¹ Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at
https://qmines.com.au/prospectus-2/. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed.