There could be multiple reasons why QPM has been on such a tear...

There could be multiple reasons why QPM has been on such a tear lately i.e. DFS update, other offtake or sales agreement, finance update, etc.

But it's the macro political updates and narrative that media has been publishing recently which are shaping up to be significant de-risking events to bring QPM project to reality.

A live example is ILU (Illuka Resources) who has received a whooping $1.25B (yes billion) loan from the Federal Government to build Australia’s first integrated rare earths refinery in Western Australia. This is huge news, primarily given the significant scale of the funding that was approved and will probably also be required as part of QPM's FID.

I think we are getting closer and closer for Governments and financial institutions to put as much money required into the critical minerals industry especially where ESG credentials are highly appealing.

https://www.perthnow.com.au/business/rare-earths-investment-refines-reputation-c-6321546