Australia's Queensland Pacific Metals gains on deal with German suppliers

QPM Energy

04/04/2023 03:56

** Shares of Queensland Pacific Metals Ltd  QPM.AX  jump as
much as 28.6% to A$0.135, set for their best day since Oct 12,
if trend holds
    ** The mineral explorer executes collaboration agreement
with German companies Plinke GmbH, Andritz Separation GmbH and
Siemens Ltd 
    ** Co says, under agreement, German firms will supply
significant proportion of equipment required for its Townsville
Energy Chemicals Hub (TECH) Project in Northern Australia
    ** Co says it received financing support with total
indicative and conditional debt funding expressed by interested
financiers exceeding A$1.4 bln ($0.9488 bln)
    ** QPM at its highest level since Dec 1, 2022
    ** Stock down ~5% YTD, as of last close
 
    ($1 = 1.4756 Australian dollars)

 (Reporting by Ayushman Ojha)
 ((Ayushman.Ojha@thomsonreuters.com;))