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As of 2:38 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

qmx gold corp (QMX) Snapshot

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08/29/13 - C$0.13
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qmx gold corp (QMX) Details

QMX Gold Corporation, a junior gold-producing company, is engaged in the acquisition, exploration, development, and operation of mineral properties in Canada. The company holds properties covering approximately 200 square kilometers in the Abitibi region of Québec. It holds interests in the Lac Herbin gold mine located in Val d’Or, Quebec. The company was formerly known as Alexis Minerals Corporation and changed its name to QMX Gold Corporation in June 2012. QMX Gold Corporation was incorporated in 1988 and is headquartered in Toronto, Canada.

131 Employees
Last Reported Date: 03/31/14
Founded in 1988

qmx gold corp (QMX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$40.0K
Chief Financial Officer
Total Annual Compensation: C$120.0K
Vice President of Quebec Operations
Total Annual Compensation: C$190.0K
Compensation as of Fiscal Year 2013.

qmx gold corp (QMX) Key Developments

Qmx Gold Negotiates with Third Eye Capital to Extend Existing Bridge Loan Facility

QMX Gold's 10% stake in Falco Pacific Resource Group has been sold to a privately owned company called Ontario Inc., for a total of $2.58 million. The sale, which was made as part of a deal for QMX to extend the closing of its Snow Lake property sale, follows a bidding process for the block of 7 million shares. QMX and Northern Sun Mining agreed to an extension of the closing of the Snow Lake deal, which is now expected before September 30. In connection with the extension, QMX is negotiating with Third Eye Capital to extend the existing bridge loan facility to September 30, and as a condition of this extension, Third Eye required that QMX sell a block of 7 million escrowed and free trading shares held by QMX in Falco Pacific, in order to reduce the principal and interest outstanding on the facility.

QMX Gold Corporation Announces Production and Earnings Results for the First Quarter Ended March 31, 2014; Provides Production Guidance for the Year 2014

QMX Gold Corporation announced production and earnings results for the first quarter ended March 31, 2014. The company reported first quarter 2014 production of 6,171 ounces of gold from the Lac Herbin mine in Val D'Or, Quebec, a 49% increase over the first quarter of 2013. Sale was 6,734 ounces of gold at an average realized price of CAD 1,423 per ounce. Milled ounces totaled 6,738 from 56,938 tonnes of ore at 3.68 g/t Au and a 91.6% recovery rate QMX poured 6,171 ounces and sold 6,734 ounces at an average price of CAD 1,423. The Aurbel mill processed 56,938 tonnes of ore to produce 6,738 ounces of gold at an average grade of 3.68 g/t Au. The recovery rates at the mill remain on plan at 91%. Cash generated by operations in the first quarter of 2014 was CAD 1.4 million and was further increased by a positive working capital adjustment of CAD 0.87 million for total cash flow from operations of CAD 2.28 million. The comprehensive net loss for the quarter was CAD 1.4 million or CAD 0.04 per share which includes a CAD 0.36 million reversals on an impairment charged against the Snow Lake Property. Revenue generated was CAD 9.1 million and mine operating Earnings was CAD 115,158. The Lac Herbin mine continues to operate at expected levels and is on track to produce 16,500 to 17,500 ounces of gold in 2014.

QMX Gold Corporation, Annual General Meeting, Jun 10, 2014

QMX Gold Corporation, Annual General Meeting, Jun 10, 2014., at 10:00 US Eastern Standard Time. Location: 65 Queen Street West. Agenda: To receive and consider the audited financial statements of the corporation for the fiscal year ended December 31, 2013, together with the report of the auditors thereon; to elect directors of the corporation for the upcoming year; to appoint McGovern, Hurley Cunningham LLP as auditor of the corporation and authorize the directors to fix their remuneration; to consider and, if thought advisable to pass, with or without variation, an ordinary resolution reapproving and authorizing the stock option plan of the corporation; and to transact such further or other business as may properly come before the meeting or any postponement(s) or adjournment(s) thereof.


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