QMines Advances Mt Chalmers Copper-Gold Project in Queensland Amid Rising Metal Prices
QMines is advancing its Mt Chalmers copper-gold project in Queensland due to rising metal prices, with a pre-feasibility study indicating it as low-cost and high-margin. The company plans to accelerate its definitive feasibility study to implement a phased development strategy, targeting a capacity of 1Mtpa while emphasizing disciplined execution and environmental compliance.
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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.
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