- Queensland Pacific Metals (QPM) has entered a trading halt ahead of a capital raise
- QPM owns the Townsville Energy Chemicals Hub Project, which is set to produce materials for the lithium-ion battery and electric vehicle sector
- Recently, the company has focussed on testing whether its direct nickel process can extract metals from ore ahead of feasibility studies
- It isn’t certain how much the company will raise or what it will use the money for but details will be released by Monday, March 22
- QPM last traded at 9.4 cents on Wednesday, March 17
Queensland Pacific Metals (QPM) has entered a trading halt ahead of a capital raise.
QPM owns the Townsville Energy Chemicals Hub (TECH) Project which is shaping up to be a sustainable producer of critical chemicals for the lithium-ion battery and electric vehicle sector.
Last month, the company completed a second pilot plant program, which proved QPM’s environmentally friendly direct nickel process can extract metals from ore which the company plans to process at the TECH Project.
Both campaigns processed 14 dry tonnes ore which yielded nickel–cobalt mixed hydroxide precipitate, co-products and leach residue.
Queensland Pacific Metals is also looking to complete a definitive feasibility study as well as a bankable feasibility study, which will commence before the end of the March.
At the end of last year, QPM had roughly $3.8 million in cash and also received a $1 million research and development loan facility from Metamor Capital Partners last month.
It isn’t certain how much the company will raise or what it will use the money for, but details will be released by Monday, March 22.
QPM last traded at 9.4 cents on Wednesday, March 17.