TAKEOVER OFFER

Conquest Mining Limited (Conquest) has made an unsolicited Offer to acquire all of the shares in North Queensland Metals Limited (NQM) by way of an off market takeover. The Offer is 0.5 Conquest shares and 15 cents for every NQM share.

The NQM board has formed a subcommittee of directors to review the Offer and make a formal recommendation to NQM shareholders. NQM shareholders should not take any action until you have considered our Target’s Statement below. Below is some relevant information on NQM and the offer.

The subcommittee’s view is that the terms of the PROPOSED OFFER ARE INADEQUATE, and do not recognise NQM’s current performance or its potential.

On the 5th July 2010, Heemkirk Consolidated announced a Recommended Takeover Offer for NQM.  Mr Tilley and Mr Thomas, as Directors of NQM are supporting the Offer.  Details of the offer can be found in the announcement below. 


Shareholders with any queries should phone
1300 089 796 &
+61 3 9415 4239 (for international callers)

15 June 2010 - NQM presentation (PDF, 3.4MB)

7 June 2010 - Response to CQT Offer (PDF, 64KB)

23 June 2010 - NQM Reserve and Resources 

5 July 2010 HSK Make Recommended Takeover Offer for NQM

9 July 2010 Revised CQT Offer - Take no Action

12 July 2010 Revised CQT Offer Inadequate

 22 July 2010 NQM's Target Statenment in Response to CQT Offer

10 August 2010 NQM's Target Statenment in Response to HSK Offer