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Article: North Queensland Metals (ASX:NQM) Announces Profit And Expected 74,000 Oz Gold From Pajingo For First Half Of 2008/09
- Article from:
- abnnewswire.net
- Article date:
- June 20, 2008
- Author:
CopyrightCopyright 2008 ABN Newswire. (Hide copyright information)
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North Queensland Metals (ASX:NQM) Announce an Inaugural Net Profit for 2007/08 forecast in the range of $0.5 to $1 million and the Pajingo gold mine expected to achieve an annual production rate of 74,000 oz gold in the first half of 2008/09.
Progress at Pajingo gold mine
North Queensland Metals Limited (NQM) was transformed into a gold producer when it acquired a 60% share in the Pajingo gold mine on 30 December 2007 with NQM as the operator. Since that time the Company has been working to return the mine to full production under a revised schedule.
NQM recommenced mining and processing at Pajingo with total gold production forecast at 390,000 oz over a six year mine life based on Reserves ...