Skip to content
Finance Investment, Oil Mining Resources

Queensland Pacific Metals Limited (ASX:QPM) – Moranbah Acquisition Update and Guidance

Queensland Pacific Metals Limited (ASX:QPM) 2 mins read
  • Media:

Queensland Pacific Metals Limited (ASX:QPM), an industry-leading mining and resources company, is pleased to provide an update on its progress with the Moranbah Project, along with production and financial forecasts for the project through to 2024.

Over recent weeks, QPM Energy ("QPME"), a subsidiary of Queensland Pacific Metals, has been diligently coordinating with the vendors of the Moranbah Project to finalize the ownership transition. Based on these efforts, it is projected that the completion of this acquisition will occur towards the end of July 2023.

The transaction includes a significant boon for QPME, as it stands to receive a net cash inflow of $30 million upon completion of the acquisition. This capital will serve to bolster the company's growth and operational strategies moving forward.

Upon extensive review of the project's historical operations, field development plans, and newly developed gas supply forecasts, QPME anticipates that the Moranbah Project will yield positive EBITDA through 2024. The detailed production, operating, and electricity price assumptions supporting this forecast can be found in the appended document.

In addition to this operational update, QPME is thrilled to announce the appointment of Mr. Ben Visser as the new General Manager of Development and Operations. Mr. Visser brings a wealth of experience in the oil, gas, mining, and petrochemical industries to his new role. His proven track record of managing large coal seam gas and conventional production operations will be instrumental in driving the Moranbah Project's success.

A significant part of our operational strategy involves the partnering with Upstream Production Solutions ("UPS"), a seasoned gas field operator. UPS is contracted to operate the Moranbah Project and is rapidly approaching operational readiness, ensuring a seamless transition of the experienced Moranbah Project team.

Upon financial closure, QPME will assume full ownership of the Moranbah Project assets and the financial responsibility for operating and capital costs, while also receiving all project revenues. Arrow Energy will continue to provide operational support for a brief period to ensure a smooth transfer of operatorship to UPS.

The upcoming acquisition of the Moranbah Project represents an exciting milestone for QPME and its dedicated team. The company looks forward to sharing further updates as this project continues to develop.


About us:

Queensland Pacific Metals Limited (ASX:QPM) is a dynamic mining and resources company focused on the exploration and development of resource projects in Queensland, Australia. Its mission is to harness the rich resources of the region in a sustainable and responsible manner.

 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

Attachments

Download media

More from this category

  • Finance Investment
  • 04/04/2025
  • 21:26
Bitget Limited

Bitget Secures El Salvador Digital Asset Service Provider (DASP) License After BSP Approval

VICTORIA, Seychelles, April 04, 2025 (GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, has obtained the Digital Asset Service Provider (DASP) license from El Salvador’s National Commission of Digital Assets (CNAD), expanding its regulatory framework within the country. This development comes after the earlier acquisition of the Bitcoin Services Provider (BSP) license in 2024. El Salvador is one of the pioneering jurisdictions passing comprehensive legislation supporting the integration of Bitcoin and digital assets into its financial ecosystem and acting as its official currency. It has started to emerge as a hub for global crypto businesses.With both the…

  • Business Company News, Finance Investment
  • 04/04/2025
  • 10:05
Jane Morgan Management

WT Financial Group Launches First “Hubco” – Uniting Titan, Darwin FS and Wealth Connect

WT Financial Group (ASX:WTL) has announced plans to roll up three well-established financial advisory firms—Titan Financial Planning, Darwin Financial & Retirement Services, and Wealth Connect Financial Services—into a newly formed national group called “Hubco.” This initiative marks the first major step in WTL’s 50/50 joint venture with Merchant Wealth Partners, through the new investment vehicle, WTL & MWP Investco. The innovative strategy is aimed at bringing scale and shared infrastructure to independent advice businesses, while retaining their entrepreneurial roots. Backed by Strategic Capital The venture will see Investco inject an initial $3.5 million into the newly formed Hubco, giving it…

  • Banking, Finance Investment
  • 04/04/2025
  • 07:30
Money magazine

Money announces the Life Insurance Award winners in 2025

“A strong life insurance sector can play a vital role in Australia’s safety net and address the nation’s twin policy challenges of an ageing population and soaring healthcare costs”. Kent Griffin, co-chair, Council of Australian Life Insurers.   Money magazine is pleased to announce its inaugural Life Insurance awards, identifying the 16 best policies available to consumers covering life, death, total permanent disability, income protection, trauma and funeral insurance.   It also identifies the seven best life insurers across the most popular life insurance categories.   About 28.5 million insurance policies were issued to Australians as of June 2024 (APRA). Of these, about…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.