Article

QMines is advancing its Mt Chalmers copper-gold project in Queensland, following a strategic review influenced by improved market pricing. A pre-feasibility study (PFS) confirmed the project as low-cost and high-margin.

Since the PFS, copper prices have risen from US$9,850/t to approximately US$13,000/t, gold prices have increased from US$2,350/oz to US$5,400/oz, and silver prices have surged from US$28/oz to around US$116/oz. As a result, QMines plans to accelerate its definitive feasibility study (DFS) to focus on a phased development with a capacity of 1Mtpa, aiming for quick cash flow and reduced execution risk.

The project will benefit from lower benchmark treatment and refining charges for copper and zinc. The company emphasizes a disciplined approach to execution and environmental compliance as it prepares to restart mining activities.