QEM Limited (ASX:QEM) released the Quarterly update for the period ending on 30 September 2020 highlighting major milestone and progress.
During the quarter, QEM conducted Vanadium extraction tests which resulted in Vanadium extraction efficiencies up to 92% on the shale ash samples. Further on, the explorer commenced processing route test work to develop the optimal beneficiation route for Julia Creek.
QEM highlighted that no material COVID-19 impact was registered on the business operations. The total cash and cash equivalent stood at $2.244 million as on 30 September 2020.
QEM traded at $0.11 a share, with a market capitalisation of $11 million.
All financial information pertains to Australian Dollar unless stated otherwise.