Reasons to not to., page-96

The positive thing about the risk is that the reward has not been factored into the share price.

Pre-2022, QPM was at 28 cents based on far less (MC circa 600 million). If you used that as a floor, assuming FID is fully confirmed, the SP has plenty of room to grow.

This project is difficult to price post FID because there are so little refining capacity being created in the battery space in Australia. Which makes it unique.

For the Northern Territory this is a great opportunity to become a world leader in net-zero ESG manufacturing. Basically, QPM is trying define this space.

As early investors, either we will be rewarded with a significantly higher SP or we were overly enthusiastic regarding the narrative. All I know is that I have hedged my bets and I am in behind QPM all the way. Optimistically, I am looking for a Disallowed and time will show me if I was correct or wrong