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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Karl Siemens who wrote (22614)	10/21/2003 11:18:56 PM
From: Andrew	Read Replies (1) \| Respond to of 39344

Queenstake Resources Ltd (2) (C-QRL) - News Release Queenstake comments on Oct. 21 trading activity Queenstake Resources Ltd (2) QRL Shares issued 295,549,049 Oct 20 2003 close $ 0.62 Tuesday October 21 2003 News Release Mr. Chris Davie reports QUEENSTAKE COMMENTS ON TODAY'S TRADING VOLUME Queenstake Resources traded 39.1 million shares on Oct. 21, 2003, at an average price of 61 cents closing at 69 cents up seven cents on the day. As the trading restrictions on the 200 million shares issued in connection with the acquisition and financing of its 100-per-cent-owned Jerritt Canyon mine expire between Oct. 12 and Nov. 4, the company expected to see an increase in its trading volume. About 80 per cent of the trading on Oct. 21 was conducted by the same broker acting on the buy and sell side as major blocks of the company's stock changed hands. The company is encouraged by the demand for the stock as evidenced by the rising price on Oct. 21 on what is more than 25 times normal daily trading volume. For the past several weeks the company has been conducting a domestic and foreign market awareness program presenting all aspects of its Jerritt Canyon mine to the worldwide investment community. The company appears to have achieved some success based on the demand rising up to meet the newly tradable supply of stock. The company has also led a number of Jerritt Canyon mine site tours for sell-side and buy-side mining analysts, fund managers and private money managers over the past two months. Both the mine site tours and market awareness road shows will continue as part of the company's continuing investor relations program. Since Queenstake acquired Jerritt Canyon on July 1, 2003, it has produced in the first three months well above its targeted production and, based on the gold production to date, the company is confident in its projection of 152,000 ounces for the latter half of 2003 and of reducing the average cash cost to $235 per ounce. Queenstake's underground exploration drill program continues year-round and surface drilling will continue until prohibited by winter weather. A focused surface drill program will resume in the spring. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com