North Queensland Metals (NQM) will go ex dividend on 8/9/2010. The current dividend payment is 0.7 cents and it is 0% franked. The record date is 14/9/2010 and the dividend will be paid on 24/9/2010. Based on the full year payment the dividend yield is 3.7%.
*Current Yield: 2.2% Franking: 0% DRP Discount: 5%
*Yield has been calculated on the closing price on the 2/9/2010. Current yield is based on the current dividend payment only.
North Queensland Metals (NQM) announces that it has signed a Heads of Agreement with ASX-listed Consolidated Tin Limited (CSD) to consolidate the two companies’ respective tin assets in the historic Herberton Tin Fields in North Queensland . Under the agreement NQM has granted CSD a 90-day exclusivity period to conclude a formal agreement to effect the consolidation. In return for transferring the assets NQM will receive 25 million CSD shares, $500,000 cash and a royalty of 2.0% based on mineral production by CSD from all NQM tenements transferred to CSD and EPMs 14016 and 16231.
The agreement is conditional upon each party being satisfied with the outcomes of due diligence undertaken; agreeing plans for the development and funding of those plans, and obtaining any approvals necessary for the transaction. The two companies have adjoining tenements covering the Herberton tin district, and combined form a dominant position which offers synergies and boosts prospects of early production of tin concentrates.
NQM will retain the Baal Gammon mining leases and the exploration ground considered most prospective for additional base metal discoveries (EPM 14016). CSD will have the right to explore and peg leases on NQM’s retained ground and NQM will have reciprocal rights to do the same with respect to base metals on the CSD tenements. NQM’s tenements, which were part of the Company’s original assets, include numerous highly prospective tin targets and former tin mining mine operations such as Vulcan, Arbouin, Jumna and Stannary Hills.
In announcing the transaction, NQM CEO John McKinstry said: “NQM’s business has shifted to solely focusing on its gold operations, and growth in that area, however the Company’s tin assets are of significant value and this brings focused management attention to them without diverting NQM’s resources. Consolidating these tin assets establishes CSD as the dominant player in the Herberton Tin district, and, importantly, CSD will have the critical mass and resource prospectivity to support a return to tin mining activities in the district. NQM strongly supports CSD’s development plans.”
North Queensland Metals (NQM) will go ex dividend on 25/3/2010. The current dividend payment is 0.5 cents and it is 0% franked. The record date is 31/3/2010 and the dividend will be paid on 15/4/2010. Based on the full year payment the dividend yield is 5.4%.
*Current Yield: 2.1% Franking: 0% DRP Discount: 5%
*Yield has been calculated on the closing price on the 5/3/2010. Current yield is based on the current dividend payment only.
North Queensland (NQM) will go ex dividend on 24/9/2009. The current dividend payment is 0.80 cents and it is 0% franked. The record date is 30/9/2009 and the dividend will be paid on 15/10/2009. Based on the full year payment the dividend yield is 6.2%.
*Current Yield: 2.8% Franking: 0% DRP Discount: 5%
*Yield has been calculated on the closing price on the 11/9/2009. Current yield is based on the current dividend payment only.
North Queensland Metals (NQM) announced on the 12/8/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is the 20/8/2009 on which shareholders must own the share to participate in the SPP. The closing date is 8/9/2009. Shares will be issued soon after. A maximum of $15,000 can be purchased by each shareholder at $0.205.
Discount : 6.8% Liquidity : Poor Profitability : Ok Stability : Poor
* Note: Discount is based on the closing price on the 13 August 2009.
North Queensland Metals (NQM) is pleased to announce that the Pajingo Joint Venture has agreed to acquire the Twin Hills gold operations from Gold One International for the sum of A$1,750,000. Twin Hills is located 190km by road south of the Pajingo operations. The consideration for the acquisition (100%) is to be made in a number of tranches – Signing Fee $200,000; Tranche1 $300,000; Tranche2 $500,000; Tranche 3 $750,000. The completion date is contingent upon primarily the assignment of the tenements.
North Queensland Metals is an Australian based and listed company with a focus on activities in north Queensland. It has a 60% interest, and is the manager of the Pajingo Gold Mine access. NQM aims to develop a second gold mine through an option over the Dotswood Project. The joint venture partners will embark on a feasibility study based on trucking ore to Pajingo for treatment. This may include additional drilling to expand its gold interests on its and subsequent modelling to suit a revised mine plan as a satellite mine. Trials in June have confirmed that the Pajingo mill could process up to 500,000tpa on a single mill, thus allowing approximately 200,000tpa. In addition to its gold operation, North Queensland Metals has a strategy of developing several mines in the Herberton area, west of Cairns, feeding ore to a central milling facility. The mineral field includes hundreds of historic tin and base metal mines with rich credit metals such as silver and indium.
