Definitely at an inflection point as we speak - as expected, electricity prices have been dreadful so far this month due to the large amount of new renewables that have come online (Sept/Oct being peak renewable season), and the grid hasn't seen any instability in regards to the coal generators either, so some (very) short term headwinds for revenue generating. Last quarter should be about breakeven, so balance sheet should still be looking ok for now.
Management are definitely making progress, but concerns over the short term are still appearing - are we going to see another CR? It's starting to be priced in more, and in all honesty now that QPME is a revenue generating company with new contracts FY25 that should see them move into cashflow positive territory, I would much rather see debt being the means of funding rather than dilutive CR. This summer period and subsequent pricing is going to be a major decider, and really looking towards the "imminent" news surrounding Moranbah power gen / new well progressions.
QPM Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
