QPM General Discussion Thread, page-945

One thing that makes me confident in QPM is their continual efforts to mitigate risks. Below is taken from the Cap Raising preso and its a good reminder of some of the outcomes already of the DFS.





There was risk in the potential recovery rates of nitric acid. So QPM is partnering with the worlds best and seeking performance guarantees. Early engagement with vendors has ensured that our final designs incorporate tried and tested equipment sizes & reduces risk of delays.

QPM is partnering with Lava Blue to use their HPA technology and lean on them with "direct support from their engineers" throughout the DFS.

Originally QPM wanted to allocate 1/3 of production to the spot market... I can only assume, that it was the independent peer reviews/financiers wanting to further mitigate risk by wanting the total supply tied to offtakes, hence the recent comments regarding future offtakes.

Partnering with the best players in their field (Lava Blue, KBR), working with tier 1 level engineering firms (Stantec, Hatch), securing government support (NAIF, Project of State Significance status), obtaining support from some of the biggest battery manufacturers in the world (LG, Samsung), funding interest from banks and in Aus & Korea, KPMG being our debt advisors, I'm comfortable that QPM is leaving no stone unturned in de-risking the process, improve the projects economics, to get the TECH project get off the ground.

Lastly, Production was initially set for some time in 2024. Pending no further delays, we 're still looking at only ~2years to begin processing. If the DFS works out and we can secure funding, i cant see us staying around these MC levels for very long.

funding support;
Export financing Australia $250m
K-SURE mou (K-Sure & EFA have their own mou to work together to fund project benefiting Korea/Aus. They could match EFA's commitment?)
North Australian Infrastructure Facility commitment letter. in DD phase (NFIA loaned BCI up to $490M, however it could be $100m to ~$500m)

QPM could potentially be looking at $1bn funding support just from our existing 3 support funds (all my opinion only). Throw in an Aussie bank and project funding sounds pretty good to me