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Qmines Limited (ASX:QML)

ALERT: Price-sensitive ASX Announcement for QML
Current share price for QML : $0.069 0.011 (18.97%)+
Announcement
Release
19 May 2026 10:00AM
Price at Release
$0.058
Full Release
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Summary
QMines Limited has announced the satisfaction of all conditions precedent for the completion of a $15 million strategic investment by QIC’s Critical Minerals and Battery Technology Fund. The company has also completed the conversion of a $1.0 million convertible note, which was crucial for the acquisition of the high-grade Mt Mackenzie gold and silver project. This conversion has rendered QMines debt-free, significantly strengthening its balance sheet. The QIC investment will facilitate the completion of the Definitive Feasibility Study, permitting, and development activities at the Mt Chalmers Project. This positions QMines to accelerate its development activities, aiming to become Queensland’s next copper and gold producer.
Key Points
  • QMines Limited has completed all conditions for QIC’s $15 million investment.
  • Conversion of a $1.0 million convertible note has been completed.
  • QMines is now debt-free and financially stronger.
  • The investment supports the Definitive Feasibility Study at Mt Chalmers.
  • QMines aims to become Queensland’s next copper and gold producer.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.