Ann: Successful Residue Testwork Reinforces QPMs ESG credentials, page-58

I agree trtr, the world is going to want a lot of DNi plants (hopefully), which is why I'm invested here, and why I'd like to see QPM's plant be the first built, and get the first mover advantage.

I was responding to shaq who was suggesting plants may be built in Indonesia, and providing shaq with the (linked) information to show that has already been agreed with one of Indonesia's biggest mining groups, just in case shaq wasn't aware. It was a courtesy to shaq.

As you will be aware, plant builds world wide vary greatly in cost, depending on resource type and size and location. Many other factors are also at play, not the least of which is national currency values and inflation. However, it's been proven that over the past decade it's 30% to 40% cheaper to build the same size gold plant in most African countries than a Western country - for example. And this (usually) stands true for all other commodities. It's also true of Asia. For instance, it's very easy for anyone to compare the cost of EMR's size gold plant in Cambodia with all the others built at the same time (and of the same size and type for similar ore breakdowns) in Western countries, and it was on average 37% cheaper for the same thing. It's a well known fact that only novices who've not done any research or had any experience of these things would question. It's just something that's to be accepted and moved on from, just one factor.

The question is not whether a DNi plant of the same size and quality will be more expensive to build in Australia, it's simply by how much. However, other factors come into play, such as the ore bodies (for instance the Indonesia's have stated they are also going to produce Scandium from their DNi plants, which might require an additional circuit and cost). It's also important to note the degree of ESG advantage from plant to plant, which I'm assuming will favour QPMs plant, and probably by some considerable amount (given Indonesian mining history), which is a very good thing.

All in all, one needs to be aware of as many factors as possible in the debate, and to be as objective and level headed as possible.

Who's to say that QPM might not nail the plant production beautifully, and then go and build another one for half the price in Papua New Guinea, then it would be off to the races for sure. No-one knows how these things will play out. We speculate and discuss openly and honestly, which is always good to do, regardless of whether one's research from time to time leans more to the positive side or other. The benefit is in shared information and good-hearted open and honest debate.

Gw