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Gold/Mining/Energy : Queenstake Resources (QTR.T)

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To: pom who wrote (2243)11/2/2003 9:05:46 PM
From: traacs  Read Replies (1) of 2249
 
Queenstake Resources (QRL) experienced an unusually heavy volume of 67.7
million, inching up 9.8 per cent to close at C$0.67 per share. Management
attributed the jump to trading restrictions on 200 million shares issued in
connection with the acquisition and financing of the Jerritt Canyon mine which is
a company maker. Since Queenstake acquired Jerritt Canyon in July it has
produced well above targets, and the company believes its projection of
152,000 ounces for the latter half of 2003 and an average reduction in cash
cost to $235 per ounce will be achieved.
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