Australia's QEM soars on wind power viability at Julia Creek Project

QEM

09/07/2021 04:17

** Shares of QEM Ltd  QEM.AX  jump as much as 61.3% to
A$0.250, their biggest intraday pct gain since March 22
    ** Oil and vanadium explorer says completed first stage of a
pre-feasibility study (PFS) into the production potential of
green hydrogen on site at QEM's Julia Creek project in
Queensland  urn:newsml:reuters.com:*:nASX9Bk3hP
    ** Says study indicates suitability of wind farms to power
Green Hydrogen production on site
    ** Says PFS into power generation from solar and wind
resources as part of the co's broader assessment 
    ** Co says PFS is done by DNV Australia and is currently
investigating solar farm potential as second stage of the PFS
    ** Stock hits its highest since April 30 
    ** More than 3.4 mln shares change hands, vs the 30-day
average volume of ~149,800 shares
    ** Stock has more than doubled this year, as of last close  

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))