North Queensland Metals.

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• Half Year Profit to Dec 08 of $6.4 million 

• Maiden Interim Dividend declared of 1c per share.

• Pajingo Gold Production (100%) for the December 08 quarter was 16,287 ounces. 

• NQM owns a 60% share in the JV and is the operator of the Pajingo Mine.  It is expected that the mine will produce between 60,000 to 70,000 oz per annum and 80,000 oz in coming years.
• The company has reported Gold Reserves of 102,000oz and Resources of 384,000 oz with the grade being higher than anticipated.

• The tenements owned are considered to be highly prospective and the company expected to further increase the resources through exploration. 

• The Baal Gammon projectnear Herberton west of Cairns which is focused on a Copper-Silver-Indium resource.  North Queensland Metals is pursuing a strategy of developing several mines in the Herberton area to feed ore to a central milling facility.