QPM Chart, page-4789

I would recommend checking out prior presentations, they source unloved ore feed from existing New Caledonian mines. With the nature of the DNi QPM can happily process the entire nickel profile, and considering limonite is largely available and not of interest to others who for the majority favour saprolite. This means QPM will have a comfortable supply of uncontested ore, as I believe the large part of this limonite is almost treated as waste by the NC mines (check yourself for specifics to confirm, haven't read up in a while but that's how I view it). Are they affected by pricing? yes, but to a much lesser degree given the ore they are taking.

I think everyone should be open to questions from others, but when it comes to people stating QPM as a miner it really does suggest they haven't looked at all into the company. The first thing one would understand and know about them during initial research is that they are a chemical processing company. I wouldn't personally be comparing the two companies like you did as it is not a fair comparison, though you concerns re: financing in general are fair.

The strong government support for the TECH hub, full offtake with tier-1 companies (all with equity stake) and the fact GM came in so close to the DFS (surely knowing the status and likely capex figures to a degree) to just name three points leaves me more positive about the situation than the uninformed loosely looking in. Is there still a big risk associated with financing? absolutely, but I have taken that into account with investment quantity over the years. Until such point where the strength of government support waivers, or the company suggests otherwise, I remain a holder.