QMines (ASX:QML) has designated BurnVoir Corporate Finance as financial adviser to help arrange funding for its Mt Chalmers Copper and Gold Project near Rockhampton, Queensland.
The company is working with BurnVoir to secure a competitive funding package designed to minimise equity dilution, while parallel Definitive Feasibility Study workstreams accelerate the timeline towards a final investment decision.
Chairman and Managing Director Andrew Sparke says the company is ‘delighted’ to engage with BurnVoir, noting that the newly appointed adviser has a ‘strong’ track record of arranging funding for ‘high quality’ development projects.
“The BurnVoir team will become an integral part of the QMines team through this next phase,” Sparke says.
“BurnVoir’s appointment reflects a significant milestone in QMines’ mission to become Australia’s next copper and gold producer.
“Preliminary engagement with potential financiers and offtake partners has been encouraging and underscores the commercial value of our Mt Chalmers product.”
The Mt Chalmers deposit hosts an ore reserve of 9.6 million tonnes (Mt) @ 0.65% copper (Cu), 0.48 grams per tonne gold (Au), 0.27% zinc (Zn), and 5.20g/t silver (Ag). Its mineral resource estimate currently totals 11.3Mt @ 0.75% Cu, 0.42g/t Au, 0.23% Zn, and 4.60g/t Ag.
QMines also holds the Develin Creek copper-zinc deposit and the Mt Mackenzie Gold Project.
QMines is a copper and gold developer focused on its 100%-owned Mt Chalmers and Develin Creek projects in Queensland.
Write to Paula Fabe at Mining.com.au
Images: QMines
