UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month
October 2004
Commission File Number
0-24096
QUEENSTAKE RESOURCES LTD.
999 18th Street, Suite 2940, Denver, CO 80202
(Address of principal executive office)
(indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40 F.
Form 20-F [X] Form 40 F [ ]
Indicate by check mark whether by furnishing the information contained in this Form the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No X
(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
DOCUMENTS FILED:
Press Release NR2004-27 October 13, 2004
DESCRIPTION:
Queenstake Announces Production at Jerritt Canyon Increases Again in Third Quarter
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
QUEENSTAKE RESOURCES LTD.
(Registrant)
Date October 13, 2004
By
“John F. (Jack) Engele” (signed)
(Signature)
John F. (Jack) Engele, Vice President Finance
News Release 2004-27
October 13, 2004
TSX – QRL – Queenstake Resources Ltd.
SEC file number 0-24096
PRODUCTION AT JERRITT CANYON INCREASES AGAIN IN THIRD QUARTER
Denver,Colorado – October 13, 2004 –Queenstake Resources Ltd. (TSX:QRL) (the “Company”) announces that third quarter production at its wholly owned Jerritt Canyon property was 73,070 ounces of gold, an increase of 20% relative to the second quarter and 50% relative to the first quarter. Both tonnage milled, at 358,600 tons, and mill feed grade, at 0.224 opt, were significantly higher in the third quarter relative to the first two quarters. Unit cash operating costs, which are largely dependant on the volume of production, are expected to reduce significantly relative to the first two quarters.
Queenstake CEO Chris Davie said, “While we are back to Jerritt’s nominal production rate and the problems of weather and development sequencing are behind us, our third quarter production was about 6% below our projections. We expect to maintain or improve upon this production rate in the fourth quarter and expect full year gold production to be in the 260,000 to 270,000 ounce range.”
Queenstake Resources Ltd. is a gold mining company based in Denver, Colorado. Its principal asset is the Jerritt Canyon Mine in Nevada, acquired in June 2003. The Jerritt Canyon Mine consists of four underground mines, a 1.5 million ton per year capacity processing facility and a 100 square mile land package that represents some of the most exciting gold exploration ground in Nevada. Jerritt Canyon has produced more than 7,000,000 ounces of gold since 1981.
For further information call:
John Haigh 303-297-1557 ext. 105
800-276-6070
Email –info@queenstake.com web –www.queenstake.com
Forward-Looking Statements – This news release contains “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this release, and Queenstake’s future plans are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Queenstake does not undertake any obligation to update forward-looking statements should conditions or management’s estimates or opinions change.
The Toronto Stock Exchange has neither reviewed nor accepts responsibility
for the adequacy or accuracy of this release.
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