Denver Gold Group > Member Company Profile > Queenston Mining Inc.


Address

133 Richmond Street West, 201
Toronto, ON M5H 2L3
Canada


Value Drivers

  • current mineral resources of 1.3 million ounces in the Measured and Indicated categories and 1.9 million ounces in the Inferred category and historic mineral resources of 1.2 million ounces.
  • $75 million in the bank and a clear plan towards production
  • PEA completed. Permitting underway to sink a shaft. Exploration discovers more high grade gold at depth
  • Advancing Upper Beaver to 2016 production

Management

Chairman: Michael Brown
CEO/President/MD:  Charles E. Page
CFO: John Francis
COO: Philip Ng
Other Key Staff: William McGuinty, VP Exploration

IR Contact

Ann Gibbs
4163640001 ext224

www.queenston.ca


Cautionary Information

© Copyright 2012, Denver Gold Group & Queenston Mining Inc..

Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use. Certain information contained in this profile, including any information as to strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "believe", "expect", "will", "anticipate", "contemplate", "target", "plan", "continue", "budget", "may", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; changes in the worldwide price of commodities and energy inputs; fluctuations in currency markets; changes in global and national interest rates; risks arising from holding derivative instruments; the ability of the Company to complete or successfully integrate an announced acquisition proposal; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; availability and costs associated with mining inputs and the construction of capital projects; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; changes in costs and estimates associated with the Company’s projects; adverse changes in the Company's credit rating, level of indebtedness and liquidity, contests over title to properties, particularly title to undeveloped properties; the risks involved in the exploration, development and mining business, including, without limitation, environmental hazards. Certain of these factors are discussed in greater detail in the Company's most recent regulatory filings with various national securities and other authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

 

Queenston Mining Inc.

Toronto Stock Exchange : QMI

Last Updated: April 10, 2012


Status: Explorer
Primary Mineral: Gold
Secondary Mineral: Copper
Primary Country of Operation: Canada

Queenston Mining (TSX:QMI, OTCQX: QNMNF) is focused on building a low-cost gold mine in Kirkland Lake, Canada’s richest gold district.
Queenston’s large land holdings cover an area of 235 square kilometres surrounding gold deposits along the prolific Larder Lake-Cadillac Break and include 8 gold deposits in Kirkland Lake that contain current mineral resources of 1.5 M Au @ 5.0 g/t indicated ounces and 1.9 M Au @ 5.2 g/t inferred ounces. An aggressive exploration program continues with a target of 8.0 million ounces of gold.
The current mine plan considers a stand-alone mine/mill complex at Upper Beaver (800,000 oz Au @ 8.0 g/t M&I, and 700,000 M oz Au @ 7.0 g/t Inferred)
A PEA completed in February 2012, has outlined a robust operating profile of 120,000 ounces of gold and 5.3 million pounds of copper per annum at very attractive cash costs through the use of low cost, bulk underground mining methods. Production is targeted to commence in 2016. The permitting process is underway for the construction of an under ground exploration mine shaft at Upper Beaver scheduled for Spring 2013. Future production from satellite deposits is planned to sustain and potentially increase gold output towards 200,000 oz./year.
The Upper Beaver resource estimate will be updated in the Q3 of 2012 and will include drill results completed to that time. To accelerate exploration there are now six drill rigs on the Upper Beaver property and six others working on the four other satellite deposits and prospective targets.
For further information, please visit queenston.ca.


Other Markets Traded On

Frankfurt, OTCQX


Top Shareholders

  • Pinetree Capital
  • Acuity
  • Agnico Eagle
  • Robert Cudney
  • Goodman & Co.

Capital Structure

Common Shares Outstanding: 94,787,082
Float (%): 86
Warrants Outstanding: 5,730,459
Options Outstanding: 6,251,000
Fully Diluted Shares: 106,768,541

Stock as of April 24, 2012

  Local: CAD USD
Stock Price: 3.92 3.96
52-Week Range: 3.7800 - 8.0700 3.82 - 8.16
Market Cap: 372 MM 376 MM
Fully Diluted Market Cap: 419 MM 423 MM
1-Year Return: -49.35%