Queensland Pacific Metals rises on agreement with Incitec Pivot's unit

QPM Energy

17/05/2023 04:32

** Shares of Queensland Pacific Metals  QPM.AX  rise as much
13.6% to A$0.125, gaining the most since April 4
    ** Battery mineral explorer finalises agreement with Incitec
Pivot  IPL.AX  unit Dyno Nobel  
    ** Agreement involves development of QPM's Moranbah Project
acquisition in central Queensland
    ** IPL's unit will provide initial development funding
facility of up to A$80 mln ($54.26 mln) and ability to increase
this to A$120 mln if needed 
    ** QPM also enters new gas supply agreement with Dyno Nobel,
which starts in April 2026
    ** Stock is flat so far this year, as of last close 
    



($1 = 1.4743 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))