Shares in the copper and gold explorer soared yesterday to hit the highest level since the miner's listing in October last year. Investors continued to buy into the stock following its recent capital raising. Two weeks ago Queensland Mining raised $5 million at 15¢ a share to fund drilling at a number of projects and the completion of a feasibility study on the Mt Freda gold project in northern Queensland. The Cloncurry-based miner owns 53 mining leases in the Cloncurry region of north-west Queensland, and it also plans to drill its Morris Creek project, which is next to Wayne McCrae's Cudeco's Rockland copper asset. Cudeco is QMC's largest shareholding, with a 10.6 per cent stake. The stock listed at 50¢ on October 1 last year but quickly plunged as the global financial crisis hit.