Business · Companies · 1 hr ago
QMines sells drilling subsidiary for $1.4 million to focus on Mt Chalmers
QMines sold its drilling subsidiary, QDrilling, for $1.4 million.
The Australian company plans to use the proceeds to focus more resources on exploration and mine development.
Its main project is Mt Chalmers, a copper-gold site in Queensland.
The sale provides fresh capital for that work.
QMines says it can advance the project without slowing its major drilling campaign.
The next focus is continuing exploration and development at Mt Chalmers.
QMines sold its drilling subsidiary, QDrilling, for $1.4 million.
The company said the sale would allow it to redirect resources towards exploration and mine development.
The fresh capital is intended to advance the Mt Chalmers copper-gold project in Queensland.
Stockhead reported that the sale would not slow QMines’ major drilling campaign.
Stockhead disclosed that the video was developed in collaboration with QMines, a client at the time of publishing.
- Who
- QMines sold its drilling subsidiary, QDrilling.
- What
- It sold the subsidiary for $1.4 million to redirect resources towards exploration and mine development.
- When
- Stockhead published its report on 2026-10-23.
- Where
- Mt Chalmers copper-gold project in Queensland.
- Why
- To focus resources and capital on exploration and mine development, including advancing Mt Chalmers.
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- Sale price
- $1.4 million
- Subsidiary
- QDrilling
- Project
- Mt Chalmers copper-gold project
- Project location
- Queensland
- Publication date
- 2026-10-23