Shaw and Partners appointed as Lead Manager to the $2.0m capital raising by QMines Limited News28 Jul 2022

Shaw and Partners is pleased to be appointed as Lead Manager to a proposed capital raising by QMines Limited (ASX.QML).


Zero carbon copper and gold exploration company QMines Limited (the Company) is proposing to raise up to approximately $2.0m by way of a single-tranche placement of new fully paid ordinary shares at $0.15 per share. The Company reserves the right to accept oversubscriptions up to an additional $1.8m.


The price of $0.15 per share represents a 14.3% discount to last close of $0.175.


QMines Limited is seeking to become Australia’s first zero carbon copper and gold developer. The Company owns four advanced copper and gold projects located in Queensland covering 1,096 square kilometres. The Company’s flagship project, Mount Chalmers, is a high-grade historic mine that produced 1.2Mt @ 2.0%Cu, 3.6g/t Au and 19g/t Ag between 1898-1982. Since acquiring the mine in December 2020, QMines has delivered two resource updates. The Company is expected to deliver its third update in 2H-2022. Mt Chalmers has a JORC 2012 compliant resource, three JORC compliant Exploration Targets and a number of pricing catalysts. The Company is planning to undertake an aggressive drilling program designed to increase the existing resource, assess its viability as a stand-alone mining operation and generate value for shareholders.


Funds from the capital raise will allow QMines to fund further exploration and execute on its growth strategy.


The offer is available to Australian Sophisticated and Professional Investors only.


For more information about the offer please contact your Shaw and Partners adviser.

Related Articles
News14 Aug 2022 Covers Taken Off Boost Wildcard Livery
Boost Mobile Racing powered by Erebus has lifted the covers off the wildcard Greg Murphy and Richie Stanaway will run at this year’s Bathurst 1000.   The fresh paint scheme was u... Read More
News12 Aug 2022 Shaw and Partners teams up with Jack Perkins to pay homage to his father's Holden past
Jack Perkins will pay homage to father Larry’s Holden past with a special livery for his Super2 cameo.   The second-generation driver will line up in an Eggleston Motorsport Comm... Read More
News11 Aug 2022 Congratulations on Shaw Managed Accounts surpassing $2 billion in FUM
It's a great time to be at Shaw and Partners! We are excited to celebrate the successes of the Shaw Managed Accounts surpassing $2 billion in FUM, which is an incredible accomplish... Read More
News09 Aug 2022 Shaw Managed Accounts reach $2 billion in Funds Under Management
Shaw Managed Accounts reach $2 billion in Funds Under Management   Shaw and Partners is proud to announce that Funds Under Management in its market leading Shaw Managed Accounts ... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%