QMines Issues 104,888,085 Shares at $0.052 and Files Cleansing Notice for Capital Raise

Anjali Anand

09 November 2026 03:33 PM AEDT

QMines Issues 104,888,085 Shares at $0.052 and Files Cleansing Notice for Capital Raise

Image Source: Krish Capital Pty Ltd

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QMines Limited (ASX:QML) has issued 104,888,085 fully paid ordinary shares at $0.052 per share to raise additional capital, with the company filing a cleansing notice on 9 November 2026 under section 708A(5)(e) of the Corporations Act 2001.

Key Points

QMines issued 104,888,085 fully paid ordinary shares at $0.052 per share to raise additional capital.
The cleansing notice was given under section 708A(5)(e) of the Corporations Act 2001 on 9 November 2026.
A share purchase plan, announced on 3 November 2026, opened on 9 November 2026.
Total shares on issue following the placement stand at 876,879,555, with 36,000,000 unlisted options outstanding.

Cleansing Notice and Share Issuance Details

QMines Limited disclosed on 9 November 2026 that it has issued 104,888,085 fully paid ordinary shares at $0.052 per share. The cleansing notice was filed under section 708A(5)(e) of the Corporations Act 2001, enabling the on-sale of shares issued without formal disclosure. As stated in the filing, the company confirmed it has complied with Chapter 2M of the Act, as well as sections 674 and 674A, and that there is no excluded information required to be disclosed under section 708A(6)(e) of the Act as at the date of the notice.

Share Purchase Plan Opened 9 November 2026

The cleansing notice also serves the purposes of paragraph 7(f)(i) of the ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 in relation to the company's share purchase plan. The share purchase plan was announced on 3 November 2026 and the offer under the plan opened on 9 November 2026, the same date the cleansing notice was lodged. The filing stated total shares on issue of 876,879,555, with 36,000,000 unlisted options also outstanding.

Mt Chalmers Drilling Program and Definitive Feasibility Study

According to the filing, QMines has been undertaking an exploration drilling program along with development works at its Mt Chalmers Project as part of an ongoing Definitive Feasibility Study. The company stated that results from the drilling program will be released to the market once received and after the company has reviewed the QAQC, validated the data, and finalised the collation and interpretation of results in accordance with its continuous disclosure obligations, the JORC Code, and the ASX Listing Rules. QMines owns 100% of the Mt Chalmers, Develin Creek, and Mt Mackenzie projects, all located in Queensland.

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