Australia's Queensland Pacific gains on debt facility for proposed project

QPM Energy

25/01/2023 02:39

** Shares of Australia's Queensland Pacific Metals Ltd
 QPM.AX  rise as much as 9.1% to A$0.12
    ** QPM sees best day since Dec. 16, 2022 if gains hold
    ** Co says it received a non-binding Letter of Interest
(LOI) from Export Development Canada (EDC), Canada's export
credit agency
    ** LOI for potential provision of debt funding for
Townsville Energy Chemicals Hub (TECH) Project for up to A$200
million
    ** TECH is QPM's proposed sustainable high-purity battery
materials refinery project located in Lansdown eco-industrial
area, Queensland
    ** Stock has fallen 33.3% in 2022
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))