Great update, as expected from SG and his top tier executive...

Great update, as expected from SG and his top tier executive team. They keep on de-risking this project with some excellent partners along the way.

If you read the full announcement it gives you clue as to where this is headed. My opinion only:

DFS shows circa. $1b CAPEX ask, which will then be funded as below:
- $250m Debt from EFA
- $250m Debt from K-SURE
- $250 m Debt from Commercial banks like ANZ
- $250 - $300m Equity funding through combination of Institutional Investors / Superannuation group / Retail / Offtakers **

Upcoming milestones:
- further de-risking through project approvals
- First production of 4N HPA
- DFS executed by June 2022

** Depending on share price, if we are sitting at 40-50c then the equity might be smaller component of overall funding, with more debt funding. However if we are in 70c+ range equity raise might be bigger.

Enjoy the journey holders, we are going from strength to strength.

P.S. If you feel like QPM is still very undervalued, i would recommend you send the announcement from today to journos of AFR, The Australian, NewsCorp etc. the more coverage it gets the more the industry will recognise this gem.