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

  • February 22, 2021 06:12 PM AEDT
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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.


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