I’ve been briefly looking at this company, it seems on the face of it to be progressing very successfully, but upon investigation not so much.
Maybe others who have been here longer than me could throw more light on what's going on.
This whole Chimaera / Quantum / Sunlands enterprise seems to be essentially a conjoined private organization run for the benefit of Chimaera investors with Sal Catalano being the common link. The public company part seems to be a device to build value into it. When Sal is engaging in these complex financial and joint venture negotiations he must be standing in front of a mirror talking to himself.
I’m particularly enthralled by the proposed Green Bonds. There are many graphite companies struggling to get financed, many much further advanced than Quantum, in the current environment it is certainly a difficult and time consuming process. Here is a timeline of Quantum’s efforts.
In three years progress does not seem to have moved past milestone a)
The intent of the bonds seems to be to finance both the Uley 2 processing plant and the needs of the joint venture. The amount of money required for the mine was only quantified in December 2023 and the amount required by the joint venture has never been quantified.
There seem to be two vital documents missing, a definitive feasibility study for the mine and the Vision 2030 plan which seems to be a scheme to single handedly solve Australia’s mission to reach net zero Co2 emissions and cannot be a small financial undertaking.
Somehow they have maneuvered Quantum to an extraordinary market capital of nearly A$200m when in practical terms the company is less advanced than it was 10 years ago, at least then they had a processing plant. I can’t see any real expectation that the financing will eventuate but I am at a loss to see what the end game for the participants is.
I am sure others on this forum will have more information than me and put my back in my place, all I know has been obtained from company announcements.
(20min delay)