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QPM, QUEENSLAND PACIFIC METALS LIMITED
nipper
post Posted: Jun 9 2021, 09:29 PM
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Queensland Pacific Metals Limited (QPM), formerly Pure Minerals Limited, is an Australian company focused on development of Townsville Energy Chemicals (TECH) Hub project. TECH Project will produce nickel sulfate, cobalt sulfate, high purity alumina and other byproduct. During the year Product marketing of the key battery chemicals to be produced by the TECH Project, nickel sulphate and cobalt sulphate, was a key focus for QPM.

A bit of back history; 02 Dec, 2020, Pure Minerals Limited (PM1) changed its name and ASX code to Queensland Pacific Metals Limited (QPM). PM1 had its wholly owned subsidiary Queensland Pacific Metals Pty Ltd which entered into the Townsville Energy Chemicals Hub Project.

Pilot Plant Activities .... 2020 focus for the TECH Project was the advancement towards piloting its processing and refining flowsheets. This work program is partially funded by the $2.6M Cooperative Research Centres Projects (CRC-P) grant received and supported by in-kind contributions from QPM’s partners.
QUOTE
Whilst progress was hindered earlier in the year due to COVID-19, restrictions are being eased and QPM has been able to make significant progress. The pilot programme will initially involve processing the bulk sample received from QPMs New Caledonian ore supply partners in the existing CSIRO pilot plant (DNi ProcessTM ) to produce nickel cobalt mixed hydroxide precipitate. Aluminium hydroxide will also be produced and is the feedstock required to produce high purity alumina (HPA). The MHP will then be processed in a refining pilot plant with the aim of producing battery grade nickel and cobalt sulphate. Similarly, the aluminium hydroxide will be processed in another pilot plant to produce 4N HPA.

Sept 2020 ... raised $4.4 million. Signed MoU with LG and Samsung, getting

March 2021 ... raised $15 million in placement; upscale SPP to $5M
and 08 June: Investment and Offtake Agreements Executed with LG Energy Solution and POSCO

Highlights
• US$15m combined equity investment from LG Energy Solution and POSCO GEM 1ST FUND
• Shares will be issued at a price of A$0.1364, a premium of 16.8% to the 1 month VWAP of QPM shares
• Binding offtake agreements signed for the sale of 10,000t contained nickel and 1,000t contained cobalt with LG Energy Solution and POSCO
• The commercial transaction is the culmination of extensive negotiation and due diligence undertaken on QPM and the TECH Project by LG Energy Solution and POSCO





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