{"id":8395,"date":"2023-08-29T16:13:12","date_gmt":"2023-08-29T06:13:12","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8395"},"modified":"2023-08-29T16:13:16","modified_gmt":"2023-08-29T06:13:16","slug":"qmines-acquires-key-copper-zinc-project","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/29\/qmines-acquires-key-copper-zinc-project\/","title":{"rendered":"QMines acquires key copper-zinc project"},"content":{"rendered":"\n

<\/h1>\n\n\n\n

\"\"OLIVIA THOMSON<\/a><\/p>\n\n\n\n

\"BHP\u2019s<\/figure>\n\n\n\n

QMines has executed a term sheet to acquire a 100 per cent interest in the Develin Creek copper-zinc-silver project from Zenith Minerals for total consideration of $4.5 million in cash and shares.<\/p>\n\n\n\n

The acquisition<\/a> is a two staged transaction with the initial interest of 51 per cent acquired for $1.2 million in cash and $1 million in shares. The additional interest is to be acquired for a further $1.3 million in cash and $1 million in shares within 12 months.<\/p>\n\n\n\n

\u201cSince listing in only May 2021, the QMines team has rapidly grown its copper resources at the Mt Chalmers project. We always believed that the Develin Creek asset was very complementary and would provide the scale required to progress the Mt Chalmers project towards sustainable copper production,\u201d QMines managing director Andrew Sparke said<\/a>.<\/p>\n\n\n\n

\u201cWe wish to thanks the Zenith board for sharing our vision of a larger, combined copper<\/a> business and for their patience and assistance with the transaction.<\/p>\n\n\n\n

\u201cWe would like to welcome Zenith and their shareholders to the register as large owners in our company. We look forward to working closely with you as we test several exciting exploration targets and prepare the company for potential future production.\u201d<\/p>\n\n\n\n

Zenith Minerals executive chair David Ledger said<\/a> that the company\u2019s divestment provides itself with immediate cash and allows for it to maintain a focus on the development of its lithium assets.<\/p>\n\n\n\n

\u201cThis has been a deliberate reallocation of our resources where we believe we can maximise value for our shareholders. We will continue to review the asset base and monetise projects at the appropriate times,\u201d Ledger said<\/a>.<\/p>\n\n\n\n

The Develin Creek mine<\/a> is located 80 kilometres north-west of Rockhampton in central Queensland, and is located approximately 90 kilometres west of QMines\u2019 Mt Chalmers copper-gold project.<\/a><\/p>\n\n\n\n

It is said that Develin Creek has an indicated and inferred resource of 4.9 megatons (Mt) at 1.79 per cent of copper equivalent (CuEq) for 87,173 tonnes of CuEq.<\/p>\n","protected":false},"excerpt":{"rendered":"

OLIVIA THOMSON QMines has executed a term sheet to acquire a 100 per cent interest in the Develin Creek copper-zinc-silver project from Zenith Minerals for total consideration of $4.5 million in cash and shares. The acquisition is a two staged transaction with the initial interest of 51 per cent acquired for $1.2 million in cash and $1 … Continue reading “QMines acquires key copper-zinc project”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[],"class_list":["post-8395","post","type-post","status-publish","format-standard","hentry","category-goldcopper"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2bp","jetpack-related-posts":[{"id":8365,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/14\/glencore-shows-off-mt-isa-assets\/","url_meta":{"origin":8395,"position":0},"title":"Glencore shows off Mt Isa assets","author":"yinghui","date":"August 14, 2023","format":false,"excerpt":"ALEXANDRA EASTWOOD Glencore Queensland Metals mines zinc and copper in the Mt Isa region. 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