Welcome to Queensland Ores Limited
Queensland Ores Limited (ASX Code: QOL) is a tungsten and molybdenum producer and a copper and gold explorer with projects on the east coast of Australia.
In June 2009, Metallica Minerals Limited (ASX Code: MLM) acquired approximately 71% of the Company following a Scrip for Scrip takeover bid for the Company. The Company is currently undertaking a 1:1 Rights Issue at 0.09 cents per share. If fully subscribed this will result in the issue of a further 212 million shares by the Company, and receipt of proceeds of approximately $2.0 million.
Wolfram Camp located near Cairns, Queensland was the nation’s first tungsten-molybdenum producer in the current mining cycle. The Company using funding from the current Rights Issue and support from Metallica Minerals plans to conduct further exploration drilling at Wolfram Camp in an attempt to upgrade the resources in both size and quality to ensure the best possible ore is available in readiness for further processing through the plant. The plant will also undergo a complete review and if necessary modification.
The Company’s other key project is the Mount Cannindah copper-gold-silver project centred on prospective tenements which include the former Mount Cannindah Mine, located about 100km south of Gladstone. | |
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