- Agree SG was the most polished of the presenters, in keeping with QPM as the most advanced of the small caps on show
- Relatively new preso deck, he was focused on reading early on, but yes, warmed up and crushed it
- Fielded the most questions, and would have been warned there were many (I sent 14!) and thus spoke succinctly to the slides
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@Timomo, well spotted, that equity slot under the QLD SIP is telling
- Thx
@trta for the screenshots, nicely done. The debt funding may well surprise if the figures already provisionally committed are converted, with the K-SURE the wildcard to perhaps kick in a couple of hundred mill more. If say 1.6B+ of the total was covered by debt, that in itself would reward the company' loyal shareholders, who Dwayne called out in Feb Crux interview. Yes, Korea have been investing in Indo, but QPM a safe spot for the country's export credit agency to support POSCO and LGES, with full IRA-compliance and downstream subsidies guaranteed.
- MGP news imminent (the Doctor had a big smile on his face there) with a few admin details the only outstanding items. And
@larrygerry, yes, as 6th largest gas producer, looking forward to the tasty revenue unboxing there
- The devils advocate questions around Indo as
@Stratopher mentioned he had no hesitation in spelling out the case why there's little danger to QPM. IMO the cheap and cheerful capex numbers we see there reflect the opaque nature of the government and Chinese investments into the business park/supporting infrastructure, and the cost of the tailings management as he mentioned. Re-iterated spot price is not the be all and end all, far from it.
- Indicated heat was coming out of the AFS capex numbers
- Re-iterated (and perhaps this wasn't done so well at the time of the AFS release), in that QPM are going beyond the bounds of a normal DFS. The pioneering nature of the TECH project's Direct Nickel process is stalling the pen of financiers it seems, and so by employing the ITE and bringing their suppliers (already decided BTW, shortening the build time) into the tent to provide performance guarantees, SG and the team are providing the extra assurances required by the bean counters
- Very focussed on ESG, and great to hear the practical nature of the Battery Pass, where in near future car showrooms consumers can QR code the vehicle's battery provenance. Reminds me, I still haven't checked out the scheme's
webinar series.
- Upstream and downstream all contracted. Cookie cutter approach to Stage 2 (remember our customers want that ASAP) would mean a considerably quicker and more cost effective build.
If you were new to QPM, 10 minutes is a pretty short time to absorb the project's message, as it is not a simple mining story.
Many here have been with the company longer than I have (2021) and were eagerly awaiting further news.
IMO SG covered both camps well.
Looking forward to the MGP becoming part of the family, and hearing from SG in a dedicated slot
(20min delay)