- Queensland Pacific Metals (QPM) is eyeing off raising more capital, after placing its shares in a trading halt on the ASX
- The materials stock will remain halted from trading on the stock exchange until Wednesday, when a fundraise announcement should be released
- QPM’s main focus is its Townsville Energy Chemicals Hub (TECH) where it will produce critical chemicals for the emerging lithium-ion battery sector
- The business recently signed a deal with Lava Blue to use its proprietary high purity alumina (HPA) technology in TECH
- Shares in QPM last traded at 17.5 cents each
Queensland Pacific Metals (QPM) is eyeing off raising more capital, after placing its shares in a trading halt on the ASX.
The materials stock will remain halted from trading on the stock exchange until Wednesday when a fundraise announcement should be released to the market.
QPM’s main focus is its Townsville Energy Chemicals Hub (TECH) where it plans to produce critical chemicals for the emerging lithium-ion battery sector.
These batteries are widely accepted to be growing in popularity due to their use in electric vehicles.
Queensland Pacific Metals recently executed a Heads of Agreement with Lava Blue to use its proprietary high purity alumina (HPA) technology at TECH.
Both parties believe the Lava Blue process will be able to successfully refine TECH Project aluminium hydroxide feedstock into 99.99 per cent (4N) HPA.
The companies will also work together on the joint development of a Definitive Feasibility Study for HPA production at the TECH Project.
Shares in QPM last traded at 17.5 cents each on Friday, December 10.