QMines has appointed BurnVoir Corporate Finance to arrange financing for the development of the Mount Chalmers copper and gold project, near Rockhampton.

It said they would work closely together to secure an attractive funding package designed to provide a competitive cost of capital, allow flexibility, minimise equity dilution and maximise value for shareholders.

“With BurnVoir’s expertise, the board anticipate that the funding package ultimately selected from the options available to the company will be both value accretive and best position the project to reach production as soon as possible,” QMines (ASX: QML) chairman and managing director Andrew Sparke said.

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“BunVoirs’ appointment reflects a significant milestone in QMines’ mission to become Australia’s next copper and gold producer.

“The financing strategy will run in parallel with definitive feasibility study workstreams, which will assist to compress the timeline to a final investment decision.

“Preliminary engagement with potential financiers and offtake partners has been encouraging and underscores the commercial value of our Mount Chalmers product.”

The Mount Chalmers mine – about 20km north-east of Rockhampton – produced 1.2Mt at 2.0 per cent copper, 3.6g/t gold and 19g/t silver between 1898-1982.

QMines is advancing it alongside the Develin Creek and Mount Mackenzie projects, with reserves of 9.6Mt and combined resources of approximately 20Mt.