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Sydney, May 24, 2010 (ABN Newswire) - FINANCE VIDEO: North Queensland Metals (
ASX:NQM) CEO John McKinstry Speaks at Sydney RIU Resources Round-up in May 2010.
North Queensland's strategy is to focus on growing gold production
- Pajingo, at a production rate of 3000 ozs (NQM share) per month and cash cost of $650/oz realising $1150/oz, generates $1.5M net cash flow per month
- There are many under explored targets at Pajingo and many projects for consideration and evaluation around Charters Towers
- Pajingo exploration now underway will provide additions to the resource base and delineate new targets for drilling.
- Dotswood evaluation, will determine whether to exercise the option to purchase by September 2009
- The aggregation, exploration and development of copper, tin and gold tenements around Herberton continues but at slower pace.
- A solid foundation for growth is in place
View the Video at this Link:
http://www.abnnewswire.net/multimedia/en/62930/nqm
ASX:NQM) CEO John McKinstry Speaks at Sydney RIU Resources Round-up in May 2010.North Queensland's strategy is to focus on growing gold production
- Pajingo, at a production rate of 3000 ozs (NQM share) per month and cash cost of $650/oz realising $1150/oz, generates $1.5M net cash flow per month
- There are many under explored targets at Pajingo and many projects for consideration and evaluation around Charters Towers
- Pajingo exploration now underway will provide additions to the resource base and delineate new targets for drilling.
- Dotswood evaluation, will determine whether to exercise the option to purchase by September 2009
- The aggregation, exploration and development of copper, tin and gold tenements around Herberton continues but at slower pace.
- A solid foundation for growth is in place
View the Video at this Link:
http://www.abnnewswire.net/multimedia/en/62930/nqm
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About North Queensland Metals Limited
North Queensland Metals is an Australian based and listed mining company with a focus on activities in north Queensland. The company has a 60% interest, and is the Manager of the Pajingo Gold Mine near Charters Towers. In addition to its gold operation, North Queensland Metals has a 100% interest in the Baal Gammon copper-tine project near Herberton west of Cairns, and is pursuing a strategy of developing several mines in the Herberton area to feed ore to a central milling facility.
North Queensland Metals' tenements in far north Queensland cover the world class Pajingo epithermal gold system as well as the Herberton mineral field which includes hundreds of historic tin and base metal mines as well as being prospective for tungsten and molybdenum.
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