Conquest Mining Ltd (CQT) Listed Ordinary Fully Paid Shares - 583,241,478 Unlisted Options at $0.93 expiring 26 February 2013 - 2,000,000 Unlisted options at $0.60 expiring 19 October 2012 - 5,500,000 Director Options with various exercise prices and expiry dates 7,904,646 Director Options wtih various exercise prices and expiry dates 40,684,088 Employee Options, various exercise prices and expiry dates 10,850,000 Share Price $0.575 52 week hi/low $0.72/$0.30 (Av Vol 0.89milion) Projects worth mentioning (Underground) Pajingo (100%) Tonnage (MT) Grade (g/t) Content (Moz) P&P 0.32 6.91 0.07 M&I 0.40 7.54 0.10 Inf. 0.91 8.70 0.25 Meas. 0.08 10.00 0.03 Pajingo Production Summary for march 2011 Underground Development (m) 1,170 Ore Mined (t) 78,711 Mine Grade (g/t Au) 6.0 Mill Production (dry t) 65,101 Mill Grade (g/t Au) 6.73 Recovery (%) 95.6 Gold Produced (oz) 14,176 Silver Produced (oz) 11,511 Site Cash Cost (A$/oz Au) AUD$781 (after royalties and Ag credits) (OpenPit) Mt.Carlton (100%) under development Resources for Au - gold Tonnage (MT) Grade (g/t) Content (Moz) P&P 9.74 2.60 0.81 M&I 24.20 1.65 1.28 Inf. 1.50 1.67 0.08 Resources for Ag - silver Tonnage (MT) Grade (g/t) Content (Moz) P&P 9.74 55.19 17.28 M&I 24.20 45.00 35.01 Inf. 1.50 30.00 1.45 Resources for Cu - copper Tonnage (MT) Grade (%) Content (Mlb) P&P 9.74 0.35 76. M&I 24.20 0.28 149.39 Inf. 1.50 0.20 6.61 I like these guys - I got in at 0.51 per share what do you guys think
Minimum 12-year project life based on current Ore Reserves. Total capital construction costs, including pre-stripping, estimated at $127 million. Two seperate open pits mining the V2 and A39 deposits. Processing plant design capacity of 800,000tpa. Average cash operating cost (including smelting charges) for the V2 deposit of US$565 (A$630) per ounce of gold produced (assumes Cu = US$3.50/lb; Ag = US$22/oz; and A$:US$ = 0.90). Average cash operating cost (including smelting charges) for the A39 deposit of US$11.25 (A$12.50) per ounce of silver produced (assumes no credit for Au or Cu content of A39 concentrate). Pre-tax Internal Rate of Return of 40% and net pre-tax free cashflow of approximately $400 million at Au = US$1, 100/oz, Ag = US$22/oz, Cu US$3.50/lb and A$:US$ = 0.90 off the website
No one cares maybe but Conquest are furthering exploration for silver at Mt Carlton http://imagesignal.comsec.com.au/asxdata/20110420/pdf/01172920.pdf
QUARTERLY REPORT - For the period ended 31 March 2011 HIGHLIGHTS OPERATIONS Gold production totaled 14,176 ounces, a 76% increase on the previous quarter and cash operating costs fell to A$781/oz , a 36% reduction. Production and costs expected to be maintained at similar levels in June quarter. Planning to increase Pajingo production to at least 70,000 ounces in FY2012 is ongoing. DEVELOPMENT Mt Carlton permitting, engineering and procurement is on track for start-up of construction in second half 2011 . Two commercially attractive offers received for A39 concentrate offtake contract. EXPLORATION Excellent high-grade infill intercepts at Pajingo in the Zed/Sonia area including 2m @ 67.96 g/t gold and 4.0m @ 29.88 g/t gold . Down-dip extension of the "Leaping Dog" bulk stope, at Pajingo, was intersected below previously defined resource boundary including 10.85m @ 5.20g/t gold and 9.2m @ 9.91g/t gold . Commitment to $5.5 million exploration program at Mt Carlton project with first rig mobilised following the end of the wet season. CORPORATE Conquest included in S&P/ASX300 Index. Sale of non-core Herberton and Baal Gammon tenements to Monto Minerals. Indicative termsheets received from several Australian and international banks for financing the development of Mt Carlton. Cash at end of the quarter of $36.3M.
anything around .51-55 is a reasonable place to get into this one - DYOR though! 30m+ ounces of silver ounces of gold at good grades producer/developer/explorer
Oh yeah, check out what Conquest, Catalpa and Newcrest are up 2 http://imagesignal.comsec.com.au/asxdata/20110615/pdf/01189350.pdf
Potential for a breakout allong with the other PM stocks, CQT is somewhat tied to CAH due to the merger, but im sensing a possible re-rating prior to merger finalisation. Post-merger there will be a capital raising, so there may be another oppertunity to get in before the new entitiy realises its value.
Merger Approved by CAH shareholders.... http://imagesignal.comsec.com.au/asxdata/20111014/pdf/01228577.pdf Results of votes http://imagesignal.comsec.com.au/asxdata/20111014/pdf/01228579.pdf
