PM1 is progressing very well with some major developments made...

PM1 is progressing very well with some major developments made this year .

Pure Minerals announcing it hadentered a non-binding memorandum of understanding (MoU) to supply LG Chem withup to 10,000 tonnes of contained nickel and approximately 1,000 tonnes ofcontained cobalt from its proposed Townsville Energy Chemicals Hub (TECH)Project.
By way of financing assistance, the South Korean company will consider aprepayment for offtake as well as the prospect of becoming a partner in theproject through a direct equity investment.Strong chance to find funding AnIndependent Investment Research Report on Pure Minerals published earlier thisyear tipped TECH as a greater chance of attracting a heavyweight financialpartner than other pre-production nickel projects.

“Becausethe [TECH] project is designed to produce specialty chemicals for sale directlyto battery makers and has outstanding eco-friendly credentials perfectly suitedfor the sustainability-conscious EV market, it is much more likely to attract astrategic partner from the battery or automobile manufacturing sector thanwould an HPAL project,” the report said.

MOU forJoint Development of Iron Product with Sun Metals Corporation

Queensland Pacific Metals enters into MOU with Sun Metals Corporation to investigate the potential to produce a joint iron oxide product for sale into market . Parties to establish a Project Team which will assess the potential to deliver benefits such as increased scale and market presence and any cost synergiesIron co-product adds financial benefit for the TECH Project . Ifthe Project studies are successful, QPM and Sun Metals have agreed to negotiatein good faith a commercial arrangement that is mutually beneficial. This mayinclude joint venture, offtake for each parties’ respective product or someother commercial structure.

Scoping Study Confirms Potentialof HPA Production at TECH Project with Outstanding Economics Highlights •Forecast production of 4,007tpa High Purity Alumina 99.99% (4N)

HPA’s main use is as a keycomponent in the manufacture of light-emitting diode (“LED”) lighting systemsand increasingly lithium ion batteries . In 2018, the global sales volumemarket of HPA was 44kt. This is forecast to grow to 155kt by 2023 (source:Technavio)

QPM has started to assemble anowner’s team to supervise and manage the operation of the pilot plant. As partof the owner’s team, QPM has engaged Hatch. The owner’s team will ensure thepilot plant meets Bankable Feasibility Study standards. Hatch is aninternationally renowned engineering company with extensive experience innickel and cobalt and familiarity with the Direct Nickel process. Theinvolvement of Hatch is a stepping stone to commencing a Bankable FeasibilityStudy undertaken with them or other partners.