Announcement • Apr 15
QEM Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. QEM Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 66,666,666
Price\Range: AUD 0.045
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Feb 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$10.6m market cap, or US$7.51m). Minor Risk Significant insider selling over the past 3 months (AU$212k sold). Announcement • Feb 18
QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 1.442402 million. QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 1.442402 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 59,100,088
Price\Range: AUD 0.024
Discount Per Security: AUD 0.00144
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Price\Range: AUD 0.024
Discount Per Security: AUD 0.00144
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Feb 17
Insider recently sold AU$212k worth of stock On the 12th of February, Gavin Loyden sold around 14m shares on-market at roughly AU$0.016 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$218k more than they bought in the last 12 months. New Risk • Feb 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 25% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.9m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 14% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$6.38m market cap, or US$4.55m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). Board Change • Jan 05
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CEO, MD & Director Rob Cooper was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 01
QEM Limited, Annual General Meeting, Nov 26, 2025 QEM Limited, Annual General Meeting, Nov 26, 2025. New Risk • Oct 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.9m free cash flow). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (AU$263k revenue, or US$174k). Market cap is less than US$10m (AU$5.44m market cap, or US$3.59m). Minor Risk Share price has been volatile over the past 3 months (18% average weekly change). New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (AU$842 revenue, or US$552). Market cap is less than US$10m (AU$5.67m market cap, or US$3.72m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (18% average weekly change). New Risk • Sep 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (AU$842 revenue, or US$556). Market cap is less than US$10m (AU$5.67m market cap, or US$3.75m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • Jul 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (AU$842 revenue, or US$552). Market cap is less than US$10m (AU$8.75m market cap, or US$5.73m). New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$842 revenue, or US$547). Market cap is less than US$10m (AU$9.16m market cap, or US$5.95m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Announcement • Jun 06
QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.0505 million. QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.0505 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,566,665
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • May 30
QEM Limited has filed a Follow-on Equity Offering in the amount of AUD 2.05 million. QEM Limited has filed a Follow-on Equity Offering in the amount of AUD 2.05 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,555,556
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • May 29
QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.05 million. QEM Limited has completed a Follow-on Equity Offering in the amount of AUD 2.05 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,555,556
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 19
First half 2025 earnings released: AU$0.011 loss per share (vs AU$0.018 loss in 1H 2024) First half 2025 results: AU$0.011 loss per share (improved from AU$0.018 loss in 1H 2024). Net loss: AU$1.77m (loss narrowed 35% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$842 revenue, or US$529). Market cap is less than US$10m (AU$12.6m market cap, or US$7.91m). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). New Risk • Nov 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.59m market cap, or US$5.60m). Minor Risk Shareholders have been diluted in the past year (26% increase in shares outstanding). New Risk • Oct 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$10.7m market cap, or US$7.04m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Reported Earnings • Sep 26
Full year 2024 earnings released: AU$0.014 loss per share (vs AU$0.035 loss in FY 2023) Full year 2024 results: AU$0.014 loss per share (improved from AU$0.035 loss in FY 2023). Revenue: AU$2.86m (up AU$2.41m from FY 2023). Net loss: AU$2.04m (loss narrowed 55% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 13% per year. Announcement • Sep 25
QEM Limited, Annual General Meeting, Nov 14, 2024 QEM Limited, Annual General Meeting, Nov 14, 2024. New Risk • Sep 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.6m (US$9.33m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$11k). Market cap is less than US$10m (AU$13.6m market cap, or US$9.33m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). Announcement • Aug 28
QEM Limited Announces Resignation of David Fitch as A Non-Executive Director QEM Limited announced that Mr. David Fitch will be resigning as a Non-executive Director of the Company with effect from August 27, 2024. The Board of QEM wishes to extend its deepest gratitude to Mr. Fitch for his unwavering financial support and contribution to the Company over the past decade, including guiding the Company through the successful IPO process in October 2018 to positioning the Project as a significant vanadium and oil shale deposit in Australia. Over the past ten years, Mr. Fitch has been instrumental in providing the necessary financial backing and ongoing support. Mr. Fitch's dedication and belief in the Company's vision have been pivotal to QEM's growth and success to date and that support remains into the future. Recent Insider Transactions • Apr 04
Non-Executive Director recently bought AU$55k worth of stock On the 2nd of April, David Fitch bought around 352k shares on-market at roughly AU$0.16 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$894k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 17
First half 2024 earnings released: AU$0.018 loss per share (vs AU$0.02 loss in 1H 2023) First half 2024 results: AU$0.018 loss per share. Net loss: AU$2.73m (loss widened 13% from 1H 2023). New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$16k revenue, or US$11k). Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (AU$23.5m market cap, or US$15.4m). Announcement • Jan 15
Enel Green Power Australia Pty Ltd agreed to acquire Julia Creek Renewables Project from QEM Limited (ASX:QEM) for AUD 7 million. Enel Green Power Australia Pty Ltd agreed to acquire Julia Creek Renewables Project from QEM Limited (ASX:QEM) for AUD 7 million on January 15, 2024. EGPA will make an upfront payment of AUD 3 million and contingent payment of AUD 4 million upon achievement of key Project development milestones. Recent Insider Transactions • Dec 02
Non-Executive Director recently bought AU$53k worth of stock On the 29th of November, David Fitch bought around 280k shares on-market at roughly AU$0.19 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$834k more in shares than they have sold in the last 12 months. Reported Earnings • Sep 27
Full year 2023 earnings released: AU$0.035 loss per share (vs AU$0.025 loss in FY 2022) Full year 2023 results: AU$0.035 loss per share (further deteriorated from AU$0.025 loss in FY 2022). Revenue: AU$453.4k (up 77% from FY 2022). Net loss: AU$4.56m (loss widened 61% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Sep 14
QEM Limited, Annual General Meeting, Nov 09, 2023 QEM Limited, Annual General Meeting, Nov 09, 2023. Agenda: To approve the re-election and appointment of directors. Recent Insider Transactions • Aug 26
Non-Executive Director recently bought AU$768k worth of stock On the 25th of August, David Fitch bought around 5m shares on-market at roughly AU$0.17 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$788k more in shares than they have sold in the last 12 months. Announcement • Aug 24
QEM Limited Appoints Tony Pearson as Non-Executive Director QEM Limited announced that it has appointed former HSBC Managing Director Mr. Tony Pearson to the Company's Board of Directors as a Non-executive Director. Mr. Pearson, who will commence his role at the company from 24 August 2023, is a highly experienced company director with 10 years' experience on Australian, Toronto and Hong Kong Stock Exchange-listed companies, government, and not-for profit boards. Mr. Pearson's experience spans natural resources, infrastructure, and State and Federal Government. He is currently Chair of Possability Group Limited ("Possability") and ASX-listed company, Cellnet Group Limited. He also serves as a Non-Executive Director of ASX listed Xanadu Mines and not-for-profit Communicare.His experience includes a variety of senior positions as a finance and investment professional, most recently as Managing Director at HSBC (Hong Kong Shanghai Banking Corporation) and prior to that as Group Executive at SouthGobi Resources, and was previously Chair of ASX-listed Peak Rare Earths. The company also announced the ESG and critical minerals credentials that Mr. Pearson brings to the Board from many of his roles, including currently as the Chair of Possability, a leading human services organisation in disability and youth services. His tenure as a Commissioner at the Independent Planning Commission allowed him to determine state significant development projects, with a need to consider relevant environmental and other stakeholder impacts alongside planning legislation, as well as gaining valuable experience in developing natural resource and wind farm projects andnavigating climate change associated issues. As a former Senior Advisor to global impact investing specialist, Regnan, Mr. Pearson provided ESG advice to some of Australia's larger institutional shareholders. Announcement • Jul 25
QEM Limited, Annual General Meeting, Aug 24, 2023 QEM Limited, Annual General Meeting, Aug 24, 2023, at 15:00 E. Australia Standard Time. Location: Suite 6A, Level 6, 50 Appel Street, Surfers Paradise Queensland Australia Agenda: To consider Ratification of prior issue of Placement Shares; to consider Approval to issue Placement Shares to Director; to consider Ratification of prior issue of Shares; and to consider Ratification of prior issue of Options. Reported Earnings • Mar 16
First half 2023 earnings released: AU$0.02 loss per share (vs AU$0.012 loss in 1H 2022) First half 2023 results: AU$0.02 loss per share (further deteriorated from AU$0.012 loss in 1H 2022). Revenue: AU$445.8k (up AU$445.7k from 1H 2022). Net loss: AU$2.42m (loss widened 78% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Nov 23
QEM Limited Appoints Tim Wall as Deputy Chair QEM Limited announced that Non-executive Director Tim Wall has been appointed as Deputy Chair of the Company. Mr. Wall commenced as a Non-executive Director of QEM on 12 October 2022, with his elevation to the Deputy Chair role being enabled following the Company's Annual General Meeting on 17 November 2022. He is a highly experienced company director and executive across the energy, infrastructure, transport & resources sectors, with a strong leadership track record at multiple ASX100 companies. His impressive list of recent achievements includes driving a strategic shift in manufacturing while President of Global Manufacturing & Corporate HSE for Incitec Pivot. Mr. Wall also delivered highly successful operational outcomes while occupying senior managerial positions at Caltex Australia and BP Australia. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Director Tim Wall was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 12
QEM Limited Appoints Tim Wall as Director QEM Limited announced the appointment of Tim Wall as Director. The date of appointment is 12 October 2022. Mr. Wall was appointed as Non-executive Director in accordance with a letter of appointment which provided that Mr. Wall's remuneration will include the issue of 600,000 unquoted options exercisable at $0.345 expiring 12 August 2025. Announcement • Sep 26
QEM Limited Announces Second Pilot Plant Testing Achieves Excellent Results QEM Limited announced vanadium and oil extraction results from the second round of the Company's bench-scale pilot plant test program. The first round of extraction testing (T1) at the vanadium and oil shale bench- scale pilot plant was completed at the Melbourne headquarters of HRL Technology Group Pty Ltd. ("HRL") last month. The first round of testing delivered promising results, with opportunities for extraction optimisation proactively identified and the pilot plant subsequently modified for the second round (T2) of testing conducted at HRL. The first round of testing (T1) was conducted with six kilograms of fresh oil shale feed from the Julia Creek project mixed with six kilograms of a hydrogen donor solvent. The volume of the oil shale feed utilised in the pilot plant for the T1 testing was significantly greater than previous laboratory test work, which was conducted at the 8 grams to 12 grams range. The T2 testing expanded further on the amount of material processed, using eight kilograms of oil shale feed from the Julia Creek project mixed with 16 kilograms of solvent. This result bolsters confidence in the potential viability of oil extraction at the Julia Creek project at a greater scale. As with the T1 test, the solvent extraction test work in the second T2 round involved heating a slurry of oil shale and solvent to achieve the targeted autoclave temperature. Under these supercritical conditions, the kerogen in the shale is converted to liquid and gaseous products. Following the T1 test work, modifications to the pilot plant and the operating parameters were swiftly implemented to optimise the performance of the bench-scale pilot plant for the T2 round of testing. Major changes included a revised plant configuration, drying the feed sample, increased solvent to shale ratio, and delayed pressurisation of the system to enable the solvent to reach boiling point. These alterations, among others, resulted in improved pilot plant performance, including the elimination of a build-up of solid deposits (naphthalene) in the oil product collection equipment, and related pipework, which was an issue previously flagged from the first round of testing. Crucially, these alterations and an increase in acid leach time to 24 hours resulted in increased vanadium and oil extraction results, which are detailed below. Samples were collected after 2 hrs, 4 hrs and 24 hrs (final sample). For the roasted samples the majority of vanadium is extracted after 4 hours, with a small increase through to 24 hours. For the unroasted sample there is an appreciable increase in vanadium extraction from 4 hours to 24 hours. These observations are consistent with the previous results from 24-hour testing for the OSU and OSL samples (L1 to L6) Vanadium extraction values above 90% were achieved, based on the feed to the leach test, for the two samples roasted at 700°C and 900°C (L8B & L8C) with a 24-hour leach time. Estimated oil yield for T2 increased to 12.5 dry wt% (as collected sample) and 13 dry wt% (washed sample). Such an oil yield is at the lower end of the oil yields determined in the previous small-scale tests although significantly higher than T1 and appreciably higher than the MFA yield. The latest results also indicate that the oil yields achieved from the pilot plant were approximately 170% or 1.7 times greater than yields reported under a Modified Fischer Assay (MFA). In comparison, the T1 tests delivered oil yields up to 142% of yields reported under an MFA. Reported Earnings • Sep 23
Full year 2022 earnings released: AU$0.025 loss per share (vs AU$0.014 loss in FY 2021) Full year 2022 results: AU$0.025 loss per share (further deteriorated from AU$0.014 loss in FY 2021). Revenue: AU$256.8k (down 24% from FY 2021). Net loss: AU$2.83m (loss widened 103% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Sep 22
QEM Limited, Annual General Meeting, Nov 17, 2022 QEM Limited, Annual General Meeting, Nov 17, 2022. Agenda: To consider the re-election and appointment of directors. Announcement • Jul 09
QEM Limited, Annual General Meeting, Aug 12, 2022 QEM Limited, Annual General Meeting, Aug 12, 2022, at 10:01 E. Australia Standard Time. Location: Suite 6A, Level 6, 50 Appel Street Surfers Paradise Queensland Australia Agenda: To consider ratification of prior issue of Placement Shares; to consider approval to issue Placement Shares to Director; to consider approval of Director's options; and to consider other matters. Announcement • May 26
QEM Limited Completes Commissioning of Pilot Plant QEM Limited announced that its vanadium and oil shale pilot plant has been formally commissioned. The pilot plant was commissioned on May 24, 2022 at the Melbourne headquarters of HRL Technology Group Pty Ltd, with the plant scheduled to be operational for a period of up to 6 months. Pre-commissioning testing works were conducted last month and the full-scale advanced testing program is now underway following the successful commissioning of the plant. The pilot plant has been designed and developed to validate the Company's proprietary extraction process, ahead of a commercial demonstration plant. QEM's primary focus is the extraction of vanadium and oil shale, but the Company will also integrate metallurgy work to investigate high-purity alumina (HPA) extraction potential, after a recent resource estimate at the Julia Creek project identified a material volume of aluminium. HPA is a high-purity form of aluminium oxide and in March 2022 it was designated as a Critical Mineral in Australia. The pilot plant was fabricated at AMAR's facility in India. Announcement • May 04
QEM Limited announced that it expects to receive AUD 2.3924 million in funding QEM Limited announced a private placement of 11,670,244 common shares at a price of AUD 0.205 per share for gross proceeds of AUD 2,392,400 on May 4, 2022. The transaction will include participation from major shareholder and non-executive director David Fitch for AUD 710,000 to maintain 29% stake in the company, subject to shareholder approval at a general meeting for mid-June 2022. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Director John Henderson was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
QEM Limited Upgrades Julia Creek Resource Base with Added Critical Minerals Potential QEM Limited announced a significant upgrade in the confidence of the oil Resource at the company's Julia Creek Project, as well as an increase in the size and grade of the Julia Creek vanadium deposit, which was already one of the larger single vanadium deposits the world. An independent geology and resource estimate report undertaken by Measured Group Pty Ltd. detailed a current estimated Mineral Resource at the Julia Creek project of 2,850 million tonnes (Mt) vanadium bearing ore at an average V205 content of 0.31%. The previous Mineral Resource estimate, which was released to the ASX on 14 October 2019, consisted of 2,760Mt vanadium bearing ore at an average V205 content of 0.30%. Crucially, the updated Mineral Resource encompasses an Indicated vanadium JORC Resource of 360Mt and 2,490Mt in the Inferred category. The previous Mineral Resource estimate had an Indicated vanadium JORC Resource 220Mt and 2,540Mt in the Inferred category. Additionally, a maiden 2C oil shale estimate of 71 MMBBls was identified, which is a resource class of greater confidence compared to a 3C estimate. Furthermore, 24,304 parts-per million of aluminium was identified in the Resource estimate, which the company believes warrants further investigation. QEM is set to commence vanadium and oil shale testing at its bench scale pilot plant this month and will now incorporate assessment of high-purity aluminium (HPA) extraction within its planned testing schedule. Announcement • Apr 06
QEM Limited Successfully Delivers Pilot Plant QEM Limited announced that its vanadium and oil shale bench scale pilot plant has been successfully delivered to Australia. The pilot plant has been designed and developed to validate the Company's proprietary extraction process, ahead of a commercial demonstration plant. This pilot plant will also provide feedstock for the multi-user vanadium processing facility in Townsville to be funded by the Queensland Government. QEM is a founding member of the Queensland Vanadium Consortium which worked with State Government leading up to its November 2021 announcement of the provision of over $10m in funding to build a Townsville-based facility. The QEM bench scale pilot plant was fabricated at AMAR's facility in India. AMAR is a specialist manufacturer of high pressure, high temperature batch and continuous reactors and allied systems, whose client list includes General Electric, Shell, BASF and Bayer, among others. The plant will be housed at the Melbourne headquarters of HRL Technology Group Pty Ltd. ("HRL") and following official commissioning, the testing program will begin. The expected operationalcommencement of the pilot plant is in April this year, for a period of up to six months. HRL completed the hazard and operability (HAZOP) study on the bench-scale oil and vanadium pilot plant in July 2021 at their Melbourne headquarters. The plant was certified and approved by ASME-U on 26 October 2021. QEM Managing Director Gavin Loyden said the pilot plant would further validate and expand upon QEM's positive extraction test results recorded to date. Reported Earnings • Mar 14
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.012 loss per share (down from AU$0.007 loss in 1H 2021). Revenue: AU$118 (down 100% from 1H 2021). Net loss: AU$1.35m (loss widened 103% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 19
Non-Executive Director recently bought AU$57k worth of stock On the 15th of December, David Fitch bought around 302k shares on-market at roughly AU$0.19 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Sep 24
Full year 2021 earnings released: AU$0.014 loss per share (vs AU$0.011 loss in FY 2020) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$339.3k (up 16% from FY 2020). Net loss: AU$1.39m (loss widened 28% from FY 2020). Announcement • Aug 05
QEM Limited announced that it expects to receive AUD 2.0135 million in funding QEM Limited announced a private placement of 13,423,333 ordinary fully paid shares at a price of AUD 0.15 for gross proceeds of AUD 2,013,500 on August 4, 2021. The transaction will include participation David Fitch for AUD 580,000 to maintain his 28% shareholding, new and existing institutional, sophisticated and professional investors. The allotment of 3,866,667 director shares will be subject to shareholder approval, whilst the 9,556,666 Shares to unrelated parties will be issued under existing LR7.1 capacity. The settlement of the new shares is scheduled to occur on August 9, 2021 with allotment to occur on August 10, 2021. A general meeting to approve the director shares is scheduled for mid-September 2021. Announcement • Jun 16
QEM Limited Finalizes the Specifications and Design of A Bench-Scale Pilot Plant for the Julia Creek Vanadium and Oil Shale Project QEM Limited announced it has finalised the specifications and design of a bench-scale pilot plant for the Julia Creek vanadium and oil shale project. As announced to the market on 24 May 2021, QEM engaged E2C Advisory Pty Ltd. to undertake the design and selection of the bench-scale pilot plant to facilitate more advanced test work on a larger scale. A purchase order has been signed with specialist manufacturer AMAR Equipment who is now drafting the final technical drawings for the plant, to be provided before 30 June 2021. The Company anticipates it will sign a construction agreement early next month, upon approval of the final specifications, with work on the bench-scale pilot plant to promptly follow. QEM remains on target to commence operational activity at the bench-scale pilot plant during 1H FY22. The pilot plant will facilitate larger scale testing and generate the bulk product material required to optimise the vanadium recovery from the resource at the Julia Creek vanadium and oil shale project. Vanadium was designated a Critical Mineral by the Australian Government in 2019 and is not yet produced in Australia. The Company is also progressing the study of green hydrogen production onsite at Julia Creek with DNV Australia to further enhance the potential value that can be derived from the project. Green hydrogen is a key part of QEM's ethical and responsible vanadium and oil processing and carbon emission reduction strategy. QEM will look to produce green hydrogen by harnessing the abundant local solar and wind resources available at Julia Creek, both for the energy needs of its own project and potentially others in the North West Minerals Province. QEM is also pleased to note that the Queensland government intends to invest $2 billion into the Queensland Renewable Energy and Hydrogen Jobs Fund 1. One of the aims of the fund is to drive future development in Queensland's North West Minerals Province (where Julia Creek is located), with a key objective being Vanadium production in Queensland. QEM will carefully review eligibility criteria for this funding. Announcement • May 25
Qem Advances to Pilot Plant Stage QEM Limited announced it is progressing towards developing a bench-scale pilot plant, based on independent test work, for its 100%-owned Julia Creek vanadium and oil shale project in North Queensland. HRL Technology Group Pty Ltd. (HRL) recently completed a suite of tests designed to optimise the production, separation and processing route of oil and gas from the extraction process at the Julia Creek project. The novel solvent extraction technology utilised in the tests delivered results indicating a more efficient and environmentally-friendly process compared to conventional pyrolysis or retorting technologies. Announcement • Mar 15
QEM Limited to Pursue Green Hydrogen Strategy QEM Limited announce that it has commenced studies into green hydrogen opportunities on site at QEM's flagship 100%-owned Julia Creek vanadium and oil shale project in North Queensland. The studies will investigate the financial and regulatory requirements of the Company to produce
hydrogen on site at Julia Creek using a "green" solar-powered electrolyser. It is envisaged that the hydrogen would initially be used as a support to the energy needs of other resources projects located in the North West Minerals Province of Queensland, but ultimately for the hydrogeneration of the
Company's raw oil into transport fuels. QEM will commence proactive discussions with the Queensland state government on progressing the
approval process to access water resources for the potential development. The Company will focus on securing the relevant approvals following the successful completion of the financial studies to be conducted by E2C. Reported Earnings • Mar 10
First half 2021 earnings released: AU$0.007 loss per share (vs AU$0.007 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: AU$56.2k (up 116% from 1H 2020). Net loss: AU$665.5k (loss narrowed 3.5% from 1H 2020). Reported Earnings • Oct 01
Full year earnings released - AU$0.011 loss per share Over the last 12 months the company has reported total losses of AU$1.09m, with losses narrowing by 52% from the prior year. Total revenue was AU$291.7k over the last 12 months, up 124% from the prior year. Announcement • Sep 17
QEM Limited Announces Next Stage Development At Julia Creek Vanadium and Oil Shale Project QEM Limited announced the next stage in driving development of the 100%-owned Julia Creek vanadium and oil shale project in North West Queensland forward. Following review of the highly successful results from recent independent processing test work, the Company has now begun an additional set of follow up test work, which will extend and build on the previous successful results. The test work will examine a range of additional test parameters, including additional extraction scenarios, additional reagents and running times, informed by the most prospective results from previous testing. The test work will again be conducted at HRL Technology Group in Melbourne (HRL), which is a NATA-accredited laboratory company. The Julia Creek Project currently hosts a JORC resource of 2,760Mt with an average V 2O5 content of 0.30% and a 3C Contingent Oil Resource of 783 MMbbls with an average oil yield of 53 litres per tonne.