Share Name Share Symbol Market Type Share ISIN Share Description
Q Resources LSE:QRES London Ordinary Share JE00B3MJTG49 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 16.00p 0.00p 0.00p - - - 0 06:37:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -1.7 -5.0 - 11.29

Q Resources Share Discussion Threads

Showing 76 to 97 of 100 messages
Chat Pages: 4  3  2  1
if they had any sense they would make it a cash shell and let someone else reverse into it. their own endeavours have been fruitless
RNS Number : 9103S Q Resources Plc 29 November 2011 Q Resources Plc Cancellation of Admission 29 November 2011 Q Resources Plc ("Q Resources" or the "Company") announced on 12 April 2011 that it had entered into a memorandum of understanding in respect of the acquisition of the Montecristo Copper Mine and the Santo Domingo Processing Plant (together the "Montecristo Copper Project" or "MCP"). Under the AIM Rules for Companies, trading in the Company's ordinary shares on AIM was suspended on 12 April 2011, pending publication of an admission document. As the Company's ordinary shares have now been suspended from trading on AIM for more than six months, the admission of the Company's ordinary shares to trading on AIM will be cancelled, as required by Rule 41 of the AIM Rules for Companies, with effect from 7.00 a.m. on Tuesday 29 November 2011. The Board of Q Resources remains committed to completing the acquisition of MCP and the associated debt and equity financing required. Discussions with potential investors and lenders are ongoing. In the event that the acquisition of MCP is completed, it is the intention of the Company to seek the admission of its ordinary shares to trading on the AIM Market, when market conditions permit. As at 29 November 2011, the Company had a net cash position of approximately £908,000. Commenting on the announcement, Ivan Murphy, Chairman of Q Resources, said: "In current market circumstances, the time taken to complete transactions such as the acquisition of MCP has necessarily extended. However, the Board has been encouraged by both the reception to MCP by potential investors and by the progress the vendors have made in developing MCP as a viable asset for Q Resources. We are continuing to work with investors and the vendors to bring the acquisition of MCP by Q Resources to fruition."
turn the lights out on this one then (till it ever relists) another bad investment....... the whole float stinks IMO directors just bleed the float money dry IMO and then delist...
I think a Statement will be due this week. Must be a list of problems to take this long for due diligence.
Well got to be news on Monday.Good or bad we shall have to wait and see although i'm edging on the side of bad due to the silence and taking this to the wire.
Q Resources Plc Potential acquisition and equity fundraising RNS Number : 8172E Q Resources Plc 13 April 2011  Q Resources Plc Potential acquisition and equity fundraising Q Resources Plc ("QRES" or "Company") announces that it has entered into a Memorandum of Understanding and 12 week exclusivity undertaking (the "MOU") with HPC Maria Ltd, a wholly-owned subsidiary of Pentagon Bernini Fund Ltd, Gottex ABL (Cayman) Limited, and Antofagasta Ltd (BVI) (together the "Vendors"), in relation to the potential purchase of the Montecristo Copper Mine and the Santo Domingo processing plant (together the "Montecristo Copper Project" or "MCP"), located in the Antofagasta Province of Chile, approximately 140km south of Antofogasta. The MOU covers the potential acquisition of mining licences and all mining assets of the MCP for a consideration of US$110m (the "Potential Transaction"). The consideration for the acquisition of MCP will be satisfied by the issue of new ordinary shares of QRES and the issue of loan notes in QRES to the Vendors. MCP operated as a copper mine for 11 years until 2008, at which point the mine was placed on care and maintenance as a result of the global financial crisis. An exploration programme in 2008 provided a resource estimate and a project design for production of 10,000 tonnes per annum of copper in concentrate, and approximately 0.5 million tonnes of iron ore concentrate per annum at 68% Fe. The underground mine design comprises open stope mining with ore requiring conventional crushing, milling, floatation, and magnetic separation prior to delivery to the market. The existing Santo Domingo process plant would be acquired from the Vendors and comprises the substantial part of the required operating facilities. A dedicated small port will be required to be built to export the iron ore concentrate. Simultaneous with the completion of the Potential Transaction, QRES intends to raise approximately US$110m from a placing of new ordinary shares of the Company. It is expected that early production of copper will be achievable and, subject to permitting and modifications to the plant, treatment of existing tailings at the MCP will assist with the environmental clean up of the site. Applications for permits for treatment of the tailings and construction of the port have already been submitted. The Potential Transactionremains subject to completion of satisfactory due diligence by QRES and the approval of the Company's shareholders. The Company notes that the Potential Transaction contemplated would constitute a reverse takeover under the AIM Rules for Companies and will require the publication of an admission document in respect of QRES as enlarged by the acquisition of MCP and the consent of QRES shareholders in a general meeting. The Company is not currently in a position to comply with the requirements of AIM Rule 14 insofar as publication of an admission document and convening of a general meeting are concerned. Consequently, the Company has requested that its securities are suspended from trading on AIM until such time as either the Company is able to publish an admission document or the Potential Transaction is no longer in contemplation. Under the terms of the MOU QRES has agreed to pay to the Vendors £150,000 to cover their transaction costs and a further US$260,000 which may be recouped by QRES to the extent it incurs project-specific due diligence costs. Additionally, the MOU provides for a US$1.1m break fee which in certain circumstances the Vendors may be required to pay to QRES, or QRES may be required to pay to the Vendors. Completion of the Potential Transaction is conditional (inter alia) upon agreement of formal documentation, QRES being satisfied with its legal, technical and commercial due diligence on the Montecristo Copper Project and the obtaining of any necessary government consents and QRES shareholder approval in accordance with the AIM Rules, and there is therefore no guarantee that the Potential Transaction will complete. Speaking of the agreement, Bernie Pryor, CEO of Q Resources said: "This is a unique opportunity for Q Resources. The Montecristo copper and iron ore project will provide low cost copper and iron ore from an existing facility that will be expanded to meet the desired production levels. The ability to utilise the tailings enhances early cash flow and the combination of copper and iron concentrates offer a mixed revenue stream for two strong commodities. We are delighted with this project which is well established and in a country with a strong mining history.
a bit of blue...
amazing dearth of news... do they owe no responsibility to their weary shareholders? fat directors salaries have to be earned....
The only news brewing is that 13 million warrants will be exercised at 6p next week Market cap looks high valuing this cash shell at 5x its cash value In terms of deadlines for acquisitions - Pursuant to AIM Rules, if the Company has not implemented its Investment Strategy by October 2011, being 18 months after admission, the Investment Strategy will be subject to approval by Shareholders at the next AGM. If no investment is made by April 2012 a resolution will be proposed to wind-up the Company
No real trades today showing up and a drop in the share price. Market makers getting nervous or is some news brewing. Judging by the share activity recently suggests no real acquisition on the horizon for the time being although they were hinting in the final results something would be concluded soon. I'm not so sure but aren't they supposed to make an investment/acquisition within a year of coming to the market?
they've being doing due diligence for a year now!!! bout time they did an acquisition otherwise shareholders will be asking for heads to roll...
Surely something must be getting close to be announced ie investment/acquisition? AGM soon.
why don't the MMs open this share up for once? play on punters' reaction to the news?
Interesting appointment this morning Iron ore the frontrunner in terms of RTO target
All still quiet here, but the trade yesterday seems to be some sort of transfer so I may take this as a positive sign of continued support.Better get there skates on soon though to make some sort of investment or purchase as time getting on for their first year listed.
what don't they make an annoucement of some kind? an illiquid stock like this is not benefiting from the current upsurge in metals & other commodities among small caps what a wasted opportunity.........;
yup I would say you are spot on. however, it was fun on the way up, out now....
Current valuation of around £12m or so without the 13.5m options and only around £2.5m in cash seems very lofty for a shell of this kind? Even if they do make a large acquisition of oil/gas or metals etc they will more than likely have more placings to cover the purchase cost and working capital so in my view it may be best to wait and see. Any other views?
wonder when we'll get some news on their investments.... the only advantage of this share to date, it's illiquid, so moves fast. and a big disadvantage: the ugly spread
Interims out - and still no news regarding an investment.
3x20k (vol) buys got it going (mid-morning)
Chat Pages: 4  3  2  1
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