Qmines Limited 100%-owns the Mt Chalmers copper-gold project, 17km north-east of Rockhampton in Queensland. The project carries a JORC Mineral Resource of 11.86 million tonnes at 1.22% copper equivalent (84% classified Measured and Indicated), with an Ore Reserve of 9.6 million tonnes (Proved + Probable). A Pre-Feasibility Study completed 30 April 2024 outlined a stand-alone one-million-tonne-per-annum operation with a pre-tax NPV8 of A$373 million, a 54% internal rate of return, approximately A$191 million in initial capital cost, a payback under two years and a 10.4-year mine life, recovering an estimated 65,000 tonnes of copper, 160,000 ounces of gold, 1.8 million ounces of silver and 30,600 tonnes of zinc. A Definitive Feasibility Study commenced in February 2026, fully funded following a $15 million strategic package from the Queensland Investment Corporation (QIC) in April 2026 (structured as $5 million equity plus $10 million via a 2% net smelter return royalty over the project), and is targeting completion in 2027. Concurrently, a 10,000-metre drill program aimed at expanding the resource began in mid-2026, with initial results in July 2026 including 18 metres at 2.7g/t gold and 1.7% copper from 54 metres (including a higher-grade 12-metre section at 3.8g/t gold and 2.0% copper).
Lifecycle Milestones
Jurisdiction (40%)9/10
Queensland: Fraser PPI 2025 is 82.72 of 100 (rank 18 of 68), which maps to 9 on this site's scale. Queensland, Australia -- top-tier, low political-risk mining jurisdiction, matching this schema's established Queensland convention.
Infrastructure (40%)No verified figure
Researched with nothing found: no source we could cite confirms or rules out an existing mill, road access, grid power, or tailings facility at Mt Chalmers Copper-Gold Project, Queensland, Australia (checked Sep 26, 2026; recheck due Mar 25, 2027). Counts at a neutral 5/10 until one does.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Cracow (Aeris Resources Limited), 225 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:0/10
Nearest producing mine: Cracow (Aeris Resources Limited), 225 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:8/10
Stage: Pre-Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Founder of QMines Limited. 20+ years' experience in capital markets, corporate advisory, and executive leadership across the Australian resources sector; led multiple IPOs, capital raisings, and M&A transactions.
Executive Director (Technical) of Qmines Limited. 24+ years' experience in the mineral exploration industry including senior roles at Newcrest Mining and OceanaGold; current Chair of the Queensland Branch, Australian Institute of Geoscientists.
Company Secretary of Flagship Minerals Limited; also Independent Non-Executive Director & Company Secretary of Qmines Limited.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Qmines owns 100% of the Mt Chalmers copper-gold project, 17km north-east of Rockhampton in Queensland, whose JORC resource is 11.86 million tonnes at 1.22% copper equivalent, 84% of it in the measured and indicated categories, with a proved and probable ore reserve of 9.6 million tonnes. The pre-feasibility study completed on 30 April 2024 outlined a stand-alone one-million-tonne-a-year operation with a pre-tax NPV8% of US$235.2M (AUD 373.4M), a 54% IRR and initial capital of US$120.9M (AUD 191.9M) over a 10.4-year mine life, recovering an estimated 65,000 tonnes of copper, 160,000 oz of gold, 1.8 million oz of silver and 30,600 tonnes of zinc. A definitive feasibility study began in February 2026, funded by an A$15M strategic package from the Queensland Investment Corporation in April 2026, made up of A$5M of equity and A$10M for a 2% net smelter return royalty over the project. A 10,000m drill program aimed at growing the resource began in mid-2026, with early results including 18m at 2.7 g/t gold and 1.7% copper from 54m.