Conquest Mining Limited (
HSK Gold was a wholly owned subsidiary of Heemskirk Consolidated Limited (
In addition, Conquest currently controls more than 95% of North Queensland Metals Limited (
Pajingo currently produces around 50,000 ounces of gold a year.
Through a process of shifting the focus at Pajingo from short-term profits to sustainability, development and exploration Conquest is examining a range of options and strategies to increase production levels and lower operating costs from Pajingo over the medium-term.
Conquest Executive Chairman Jake Klein said the company was determined to quickly assess and then capture the longer-term potential it identified at Pajingo through a combination of strategic exploration and development work in and around the mine.
"The acquisition of Pajingo is the first step in our strategy of turning Conquest into a sustainable and profitable mid-tier gold miner," Mr Klein said.
"We look forward to keeping our shareholders updated on our progress at Pajingo over the coming months as well as at our Mt Carlton project in Queensland where we expect to deliver the results of an optimisation study in the coming weeks."
About Conquest Mining Limited
Contact
Conquest Mining LimitedTel: +61-8-9240-4111
Email: admin@chellingtons.com.au
http://www.conquestmining.com.au
Related Companies
North Queensland Metals Limited
Heemskirk Consolidated Limited
Related Industry Topics: