The management just keeps on ticking boxes and de-risking this...

The management just keeps on ticking boxes and de-risking this hugely potential project day after day.

Key highlights for me include:

• Much better layout and formatting of the presentation
• Prescribed project status from QLD government to fast track approvals based on significant job opportunities for the region
• Key vendor engagement to start procurement process rather than waiting for DFS to be completed given current global supply chain issues. The quality of vendors are something to note here as well.
• Yes cost of equipment and labor will have an impact on opex and capex but easily offset by price of Nickel, which is looking stronger and sustainable for the long term
• HPA trace element issue resolved and will be of 99.99% purities i.e. higher pricing and ultimately improved P/L outcome
• Input gas and energy MoU signed and likely to be confirmed over next 6-12 months resulting in lower carbon emissions, which could further add credentials to QPM but also the pricing of Nickel and Cobalt sulfate
• Debt funding process well underway with NAIF at DD stage and other finance providers engaged by a globally recognized firm - KPMG. This is not tyre kicking, this is real.
• The successful Advanced Finding Assessment de-risks the section of QPM’s tax returns relating to R&Dexpenditure. QPM has completed the work relating its R&D Tax Incentive claim for the financial year end 30June 2021. Its expected return is $2.2 Million, of which $1.0 Million will be used to extinguish the Metamor loanfacility.
• CFO and GM for New Caledonia bring in further stability, credibility and commercialization opportunities.
• We hold 100% of Serpentinite Ridge and Sewa Bay Nickel project in Papua New Guinea. This provides QPM with some risk diversification and future optionality at no initial cost outlay.
• Finally and by no means the least, in my opinion there now seems to be more recognition in documents and presentation of the fact that there is room for expansion for multiple plants. Statements such as "QPM is also working diligently to try to maintain its target schedule for first plant commissioning" or "We want to walk before we run" i.e. possible future expansions.

This is a beauty of a stock that is very much geared towards the sustainable and much needed ESG and EV boom we are experiencing, with management being transparent and realistic. Good luck to all holders, see you at $1.