September quarter will be a good one. Plenty coming up and plenty more info in the quarterly Few highlights As per June quarterly
HPA Testwork
QPM has engaged The Simulus Group (“Simulus”) to undertake testwork on producing High Purity
Alumina (“HPA”) from aluminium hydroxide produced from QPM’s pilot plant operations. Testwork
commenced late in the quarter and QPM expects to report results in the September quarter.
After successful production of the iron (hematite) precipitate in the pilot plant operation, work
commenced on the agglomeration of the hematite fines into a saleable, high grade iron ore feed.
Hematite produced from the pilot plant was sent to Drytech International Holdings (“Drytech”) in
South Africa The work is expected to be completed in the next quarter with a final report to include green and
dried strength, benitoite addition, heat balance and a proposed flowsheet.
Offtakes should follow.
Funding
In light of strong project progress and the LGES/POSCO transactions, QPM has started to receive an increase in inbound enquiry from potential debt and equity financiers. QPM is currently conducting a tender process to appoint a debt advisor and expects to do so imminently. QPM has also completed an Australian Industry Participation plan to maximises the involvement of
Australian suppliers and contractors. This document will also assist as part of any Australian government financing opportunities such as NAIF and EFA.
FID , FEED
Traditionally, a DFS is undertaken with detailed engineering commencing after completion of the
DFS. With the funding from LGES and POSCO GEM 1st FUND, QPM will be able to bring forward
detailed engineering of critical components.
During the quarter, QPM and Hatch identified key engineering packages and commenced engagement with target vendors.
QPM is seeking to engage these vendors to carry out detailed engineering now, which maximises the opportunity for them to provide lump sum pricing proposals.
QPM Price at posting:
18.3¢ Sentiment: Buy Disclosure: Held
(20min delay)