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MetalQuest Mining Inc V.MQM

Alternate Symbol(s):  MQMIF

MetalQuest Mining Inc. is a Canada-based exploration stage company engaged in the acquisition, exploration, and development of mineral properties. The Company’s Lac Otelnuk Iron Ore project is an iron ore project in North America situated in Labrador Trough, Northern Quebec, Canada. It owns about 306 mining claims located in Nunavik, Quebec. Its Murray Brook Project is a polymetallic, volcanic hosted massive sulfide deposit and is a NI43-101 compliant mineral resource in the Bathurst Mining Camp. The Murray Brook property consists of Mining Lease 252 and contiguous Mineral Claim Block 4925 (245 claims). The Murray Brook property is located approximately 60 kilometers (km) west of Bathurst, New Brunswick, in Restigouche County, within the BMC.


TSXV:MQM - Post by User

Comment by StockscoutXon Nov 03, 2023 3:02pm
124 Views
Post# 35716399

RE:iron ore

RE:iron oreFrom what I heard locally. A railway must be built from the mining area to the closest railway. If I'm not mistaken. An investment of a billion dollar plus is needed for the building of the railway and the mining complex. Furthermore, the existing railways to be connected are already saturated by mining companies. The only way I see a mine being developped is if the iron ore demands goes through the roof but there's no indication of it so far. Moreover, the company is running low on liquidity. So will it belly up going forward and shareholders lose eveything just to be picked up by another iron ore company locally for peanuts? Lots of questions and analysis but not much answers, only speculation on my part. Invest wisely.
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