Here is the link to Charles Page, Queenston President & CEO's July 2011 video stating,
lubriciously I might add,
20,000,000 ounces.
https://www.youtube.com/watch?v=JhcEFvLkFKE At the time there was $80 or so million cash in the bank.
September 16, 2010 $40M cash was in the bank https://www.youtube.com/watch?v=5lPCZMKGGgs&feature=related
Queenston have spent $25M a year in exploration in 2010 and 2011, $50M developing the story that will be released before Q4 begins in October.
The soon to be released (before end of Q3 in September) NI 43-101 report detailing gold holdings is now being assembled. This report, produced by an outside agency, along with their cash position that as of December 31, 2012 should be equal to or greater than $100M and not more than $120M unless something unusual occurs.
Looks to me that the "Buy on Rumour and Sell on News" kicked in today, for real, after the false start experienced in May/June.
Finally the summer of QMI is about to hit!