Queensland Pacific Metals (ASX:QPM) announces major expansion of TECH project

  • February 22, 2021 06:12 PM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
    16964 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Queensland Pacific Metals Ltd (ASX:QPM) announced on 22 February 2021 that it has officially committed to boost the size of the TECH Project by at least two times from what it was initially anticipated in the Pre-Feasibility Study (PFS). 

Several talks with prospective off takers and the Memorandums of Understanding inked with LG Chem and Samsung SDI prompted the Company to consider improving the level of the TECH Project from the PFS size 0.6M wet tpa.

Needless to say, these talks hinted that escalating manufacture of key battery metals nickel and cobalt would expand the overall allure of the TECH Project to off takers.

It should be noted that the upturn in the size of the project will allow QPM to benefit from large economies of scale which will in turn better the capital competence and project economics of the TECH Project.

Meanwhile, the TECH Project will be moving up to process 1.2-1.5M tpa ore. The final sizing will be decided by the Definitive Feasibility Study.

Meanwhile, the QPM stock quoted at AU$0.098, up 11.363% with market capitalisation at AU$82.09 million on 22 February 2021.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK