Top member reports
Consensus community valuation
$0.150
Average Intrinsic Value
42.9%
Undervalued by
Contributing Members
Sort by:
Recent
Create your free Strawman account to view member valuations
#ASX Announcements
Added 4 days ago

"The assay results were better than QPM’s targets for all elements. Based on industry specifications received by QPM, the results satisfy the strictest battery specifications. This is an important milestone for QPM as the Company has now produced battery spec nickel sulfate from a bulk sample of representative nickel ore sourced from its New Caledonian ore supply partners."

View Attachment

Read More
#ASX Announcements
Added 4 days ago

Battery Spec Nickel Sulfate Produced from Pilot Plant MHP

Highlights

  • Bench scale testwork complete producing battery chemical nickel sulfate from nickelcobalt MHP produced in pilot plant
  • Conventional flowsheet used, the same that is currently utilised in the industry to produce nickel sulfate from MHP
  • Assay results meet target specification of various spec sheets provided by potential offtakers

View Attachment

Read More
#ASX Announcements
Added 7 days ago

QPM’s SPP to close early as heavily oversubscribed

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that the Company has been overwhelmed with acceptances in the Share Purchase Plan (SPP) that was announced on 22 March 2021 and opened on 31 March 2021.

The Company advises that it has already received subscriptions in excess of $5.7 million and as a result the Company will closed the SPP at the close of business on Wednesday, 14 April 2021.

The Company advises that any further applications received after 5.00pm (WST) tomorrow, Wednesday, 14 April 2021 will not be accepted under the SPP and application monies will be returned in full to the applicant.

The Company advises that the money raised under this SPP and from the recently completed $15 million share placement (announced 22 March 2021) (Placement) will be used for:

• Completion of a Definitive Feasibility Study (“DFS”) for the TECH Project;

•Completion of regulatory approvals; and

• Corporate costs and working capital. QPM’s Managing Director, Stephen Grocott commented:

“We are very pleased with the high level of participation from our shareholders and we thank shareholders for their continued support. The strong investor support for QPM is a very positive signal to external parties in all areas of the business including potential offtakers, equipment suppliers, major consumable suppliers and regulatory bodies.”

View Attachment

Read More
#ASX Announcements
Added 2 weeks ago

MOU for Additional Ore Supply

Highlights

  • Memorandum of Understanding regarding ore supply executed with Societe Le Nickel – SLN (“SLN”), a subsidiary of Eramet group.
  • QPM and SLN agree to negotiate in good faith for an ore supply agreement for approximately 800,000wmt per annum commencing 2023
  • Ore specification in line with QPM’s requirements for the TECH Project (1.45 – 1.70% Ni and 0.15 – 0.25% Co)

View Attachment

Read More
#ASX Announcements
Added 2 weeks ago

Board, Management and DFS Appointments

Highlights

  • Dr Stephen Grocott has been appointed as Managing Director
  • John Downie (former MD) transitioning to Executive Director and will remain intimately involved with QPM
  • Highly experienced Project Director, Barry Sanders, appointed to lead DFS
  • Global engineering group Hatch appointed as lead engineer for DFS

View Attachment

Read More
#ASX Announcements
Added 4 weeks ago

$15M Placement Successfully Completed

Highlights

  • Placement to raise $15M from institutional and sophisticated investors at $0.08 per share
  • Share Purchase Plan to raise $3M will be available to all eligible shareholders
  • Placement was significantly over-subscribed with significant institutional backing
  • QPM is now fully funded to complete the Definitive Feasibility Study and regulatory approvals for the TECH Project


Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that it has received firm commitments from institutional and sophisticated investors to raise $15 million (before costs) via a share placement of 187,500,000 fully paid ordinary shares at an issue price of $0.08 per share (“Placement”). The Company will also open a Share Purchase Plan (“SPP”) which will allow eligible shareholders the opportunity to subscribe for shares at the same issue price as the Placement. Chairman Eddie King intends to participate in the SPP. The Placement was strongly supported with demand significantly in excess of funds sought by QPM and the bookbuild closing within a few hours of opening. The issue price represents a discount of 17.5% to the 15-day volume weighted average price. The Placement shares will be placed in accordance with the Company’s available capacity pursuant to Listing Rule 7.1 and 7.1A. The shares issued under the Placement and SPP will rank equally with existing shares. Foster Stockbroking Pty Ltd acted as Sole Lead Manager for the Placement.

Use of Funds The net proceeds raised from the Placement and SPP will be used for:

  • Completion of a Definitive Feasibility Study (“DFS”) for the TECH Project;
  • Completion of regulatory approvals; and
  • Corporate costs and working capital.

Chief Executive Officer Stephen Grocott commented, “We are delighted to raise sufficient funding to complete the DFS for the TECH Project. This allows the QPM team to focus on delivering this key study that will underpin the viability of the project and also allow us to procure financing for the construction. We welcome all new shareholders to the Company and are delighted by the quality of institutional investors who have supported the Placement.

View Attachment

Read More
#ASX Announcements
Added a month ago

Trading Halt Request

Dear Mr Barcham,

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) requests that its securities be placed in a trading halt as follows:

1. The trading halt has been requested pending the release of an announcement regarding a capital raising (the, “Announcement”);

2. The trading halt should be until the release of the Announcement by the Company, expected to be no later than market pre-open on Monday, 22 March 2021; and

3. The Company is not aware of any reason why the trading halt should not be granted.

View Attachment

Read More
#ASX Announcements
Added a month ago

MHP Assays Deliver Excellent Results


Highlights

 

  • Nickel Cobalt Mixed Hydroxide Precipitate (“MHP”) assay results deliver excellent results
  • Specifications of MHP from piloting work is in line with leading MHP products that are currently sold around the world
Read More
#ASX Announcements
Added a month ago

GHG Report Confirms TECH Project’s Low CO2 Emissions

  • TECH Project estimated CO2 emissions is 36% lower than industry average calculated by the Nickel Institute for nickel sulfate production
  • Potential for CO2 emissions to be further reduced and to have net-negative CO2 emissions if gas supply is derived from vented/flared gas at existing Queensland coal mines
  • Findings based on report prepared by Minviro
  • QPM positioning the TECH Project to be a world leader in sustainable nickel production

QPM is showing some real promise in the sustainable mineral processing game, having shown a tailing free process and now showing reduced CO2 emissions too.  Not sure about using gas from vented coal mines, but I suppose it would just be using fugutive emissions.  In future, would be interesting to see if renewable hydrogen might be an option too.

Still, the project keeps ticking off the boxes!

Read More
#ASX Announcements
Added a month ago

GHG Report Confirms TECH Project’s Low CO2 Emissions

Highlights

  • TECH Project estimated CO2 emissions is 36% lower than industry average calculated by the Nickel Institute for nickel sulfate production
  • Potential for CO2 emissions to be further reduced and to have net-negative CO2 emissions if gas supply is derived from vented/flared gas at existing Queensland coal mines
  • Findings based on report prepared by Minviro
  • QPM positioning the TECH Project to be a world leader in sustainable nickel production

View Attachment

Read More
#ASX Announcements
Last edited 2 months ago

Musings on the ann:

  • Doubling the size of the plant should increase the potential NPV and project returns due to efficiency gains.  Whether its a direct 1:1 ratio will depend on the relative increase in capex cost.
  • A greater capex will put even more emphasis on the the funding model(s).  This will be the biggest question as the DFS progresses over the next 12 months.  NAIF funding will hopefully cover it, but there is still a possibility of some value being removed to simplify the process (such as going to offtakers, or needing extra capital).
  • The process licensing is finalised.  Unfortunately the moat is only around townsville.  First starter advantage, but a bit of a shame that Altilium could easily sell this to other producers around the work (and Australia) who could ride on the tail of QPM if it proves the business successful.  Probably my biggest bear question at the moment ahead of even funding quesitons.
  • We have a timeline to keep an eye on things.  While imo QPM is still very much undervalued, there arent a heap of planned catalysts to push price outside of social media over the next 12 months.  That said, samples from the pilot plant are being refined and sent out, so more offtakes could pop up over time.

Anyway, had to get some thoughts on paper.  The price jump was exciting today, but will be interesting to see if it can hold above 10c.  I wish I had this in my strawman portfolio, but better that its in my RL portfolio I guess after todays jump.

Read More
#ASX Announcements
Added 2 months ago

Strong Offtake Interest Drives Major Expansion of TECH Project

Highlights

  • QPM formally commits to increasing the scale of the TECH Project to at least 2x the PreFeasibility Study project size
  • QPM decision based on assessment of key project considerations including market demand, ore supply, environmental approvals, infrastructure and supply of consumables
  • A larger TECH project will have lower capital intensity and higher margins
  • Final sizing to be determined by Definitive Feasibility Study. Process has commenced to appoint a lead Engineering company
  • Targeting first production in 2023
  • DNi Process™ License has been finalised with Altilium Group, facilitating TECH Project expansion

View Attachment

Read More
#Bull Case
Added 2 months ago

QPM are moving to DFS!

The ann today highlights a couple of exciting things to me:

The process can work and the recovery rates are as expected.  This alone starts to derisk the project.

The leach residue really gives an edge imo. 15% dry residue per tonne of ore, is really quite good.  Still need to work out where it can go, but if they can find any sort of semi-commercial use for it, then its going to be a huge advantage.  Characterisation work is being done at Townsville uni now on the residue.

No tailings dams mean a big sustainability upside to the product produced, which is becoming a really seller in the EV metals market (look at EMN and VUL as examples)

Lastly, it was good to hear that the nitric acid used in leaching was able to be reused in the process.

Next steps are:

- Test work to refine the materials into final saleable product

- Shipping samples off to offtakers (This gets exciting!)

- DFS tasks such as improving flowsheet and collecting pilot plant data

- Engaging an engineer contractor

Starting to feel like its getting real.  Would be good if we could get some timelines on the next steps now.

Read More
#ASX Announcements
Added 2 months ago

Successful Pilot Plant Campaign Provides Confidence to Proceed to DFS Highlights

  • Successful pilot plant campaign confirmsflowsheet, providing QPM with the confidence to proceed towards DFS for the TECH Project
  • 14 dry tonnes of representative New Caledonian ore processed, which has produced MHP product to send to potential offtakers and to facilitate nickel and cobalt sulfate refining testwork
  • Nitric acid ore leach performance exceeded expectations with 98.7% nickel extraction, 96.0% cobalt extraction and 95.3% iron extraction
  • Solid-liquid separation performance of leach residue exceeded design expectations confirming that the TECH Project will not require any tailings dam
  • Iron precipitation yielded high-grade 61.6% Fe hematite product that will now be prepared for agglomeration and testing as blast furnace feed for steel making
  • Successful recovery of nitric acid from iron hydrolysis circuit producing acid at the design concentration which was recycled directly back to the leach circuit
Read More
#Bull Case
Added 3 months ago

Elon Musk has said that the world needs more Nickel and companies that make it efficiently and sustainably.  Enter QPM.

This company is trying to showcase mineral processing value add can work in Australia - taking ore from New Caledonia and converting into high value nickel and cobalt sulfates. 

Currently at pilot plan stage, the PFS put an NPV of $1 to 1.5B.  And since then nickel prices have risen another 40%.

But it needs $600M to build it.  I hear bears concerns and dilution is going to be highly likely. However, since his analysis, there are 2 new things that I reckon have made a huge difference:

1) MOU with LG Chem who is willing to pay upfront to help fund the project.  On PFS numbers, thats ~USD125M

2) MOU with Samsung SDI. ~USD75M

So LG Chem could conceivably fund up to 30% of the project. and they have a really great offtake list already to take to financing.

Now, where the plant is is also critical and something I've not seen discussed about this stock.  They are building plant in Townsville.  That this means is that I can see the state government and the Northern Australia Infrastructure Fund providing debt for such a project. We QLDers love a local project thats going to employs us and it would fit quite nicely in the NAIFs remit.

So debt funded is not such a crazy idea at all.  That means we need to get to funding decision and on the latest 4C, there was 5 months of cash.  

DFS is due Q2 2021, with funding sorted out in H2 and a decision by the end of the year.

QPM also just entered into a HoA for a PPA with a solar/battery farm next door too, bolstering the sustainability cred of the project.

At a $60M MC, there is heaps of headroom here.  Significant risk too, but from my view the offtakes and the possible NAID funding reduce downside risk.  The DFS will be key.  It will either tank the project or really rocket it forward...

And with the EV growth tailwind and surging battery metal prices, Id be betting the DFS will look quite good.

Read More
#ASX Announcements
Added 3 months ago

December 2020 Quarterly Report

Highlights

  • Strong progress made on product marketing resulting in offtake MOUs signed with LG Chem and Samsung SDI
  • Commencement of pilot plant activities with first MHP produced in preliminary pilot run
  • TECH Project site within Lansdown Eco-Industrial Precinct formally secured by Reservation Deed with Townsville City Council

View Attachment

Read More
#ASX Announcements
Added 4 months ago

First MHP produced at TECH Project Pilot Plant

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that the first batch of nickel-cobalt mixed hydroxide precipitate (“MHP”) has been produced from its pilot plant located at ALS Global.

Throughout the quarter, the pilot plant was constructed and commissioned. The first continuous pilot plant run recently commenced with representative ore sourced from New Caledonian ore supply partners being fed into the plant. This has culminated in the first batch of MHP being produced from the pilot plant.

The production of MHP is an important milestone, demonstrating the DNi ProcessTM flowsheet on New Caledonian ore. Potential offtakers for the TECH Project are most interested in this part of the flowsheet, as the process of converting MHP into nickel sulfate and cobalt sulfate is well understood and established at commercial scale.

Chief Executive Officer, Stephen Grocott commented,

“I would like to thank all parties involved who have worked tirelessly on the pilot plant including ALS Global, Altilium Group, CSIRO, Hatch and our Owner’s team. There remains plenty of work to do but the production of first MHP from New Caledonian ore is a satisfying achievement for the company.”

View Attachment

Read More