Very good sign in these market conditions of late.Picked some...

Very good sign in these market conditions of late.

Picked some more up today, in time this will be multiples of were we are today. Drilling to start in 5 weeks!!!


Quintessential's Debut on the Australian Securities Exchange
Quintessential Resources Ltd (ASX:QRL, Quintessential) is pleased to announce that its Initial Public Offering (IPO) closed oversubscribed and the Company makes its debut on the Australian Securities Exchange today.
Quintessential raised A$6,000,000 via the issue of 30,000,000 ordinary shares at a price of 20 cents per share. The Company now has a total of 40,000,000 shares on issue.
Quintessential will utilise the proceeds of the offer to accelerate the ongoing exploration of its highly prospective flagship tenement EL1727 Bismarck, which is arguably the most prospective and unexplored geological address in the Papua New Guinea Highlands (Figure 1).
The Company's tenement portfolio also consists of 1,758km2 of Exploration License Applications in the D'Entrecasteaux Islands, all of which are proximal to known gold deposits. Exploration will commence once the applications are granted (Figure 1).
Quintessential's Managing Director Paige McNeil commented:
"Quintessential is a dynamic explorer that offers investors excellent leverage for the discovery of World Class porphyry copper and gold deposits at EL1727 Bismarck. Quintessential believe we are in the right position at the right time to participate in the strong growth of the mineral exploration industry in Papua New Guinea (Figure 2). The Board appreciates the strong interest and support received from the market and believe the oversubscription reflects the investors understanding of the company's assets, quality of the board and management teams and its exploration strategy."
The Company has identified drill targets at the Tekem Gold Prospect (EL1727) and are scheduled to commence a 5,000m diamond drilling program in late September utilising Company owned and operated rigs (Figure 3).
A Three Dimensional Induced Polarisation (3D-IP) geophysical program is planned for the Mal Porphyry Copper-Gold-Molybdenum Prospect (EL1727) in early September. This data will be integral in determining drill targets for the proposed 3,000m drilling program estimated to commence in late October (Figure 3).
For further information please visit our website www.quintessentialresources.com.au/ or contact