Settlement and issue of securities for QEM’s (ASX:QEM) partially underwritten $3 million entitlement offer is scheduled for Friday (25 October) just days ahead of the company’s attendance at the International Mining and Resources Conference (IMARC) in Sydney.
Speaking to Mining.com.au ahead of IMARC, Managing Director Gavin Loyden says QEM will take the opportunity to discuss the results of the company’s recent Scoping Study and further progress being made on the Julia Creek Vanadium and Energy Project in Queensland.
Loyden says the company plans on highlighting the project will have a post tax NPV (8%) of $1.1 billion, a five-year payback over a 30-year life of mine producing 10,500 tonnes of V2O5 and 313 million litres of transport fuel (diesel) per year, with the project being powered by renewable energy.
“IMARC is always a great event where investors and resource companies can meet and develop mutually beneficial relationships and we hope to achieve that at this event,” Loyden tells this news service.
“We will seek to engage mostly with institutional investors and brokers, but also seek to engage with other potential strategic partners.”
Loyden notes it is important for juniors to attend events such as IMARC, adding it’s also more challenging in these tight economic times which affects most micro caps at the moment.
“We all wish to spend less on marketing in these tough times but find we still need to promote to stay relevant and engage with investors and fundies and having them all in one place allows us to do that,” he says.
The aforementioned capital raise is partially underwritten to $1.6 million by lead manager and underwriter Mahe Capital. All directors intend to participate in the capital raise. QEM major shareholder (and ex-director) David Fitch has also sub-underwritten his entitlements ($884,393).
Mining.com.au will again be sending a contingent to attend IMARC this year and will form some of the more than 9,000 delegates descending from 120 countries poised to attend.
Register for IMARC here.
Write to Adam Orlando at Mining.com.au
Images: QEM
