Queensland Pacific Metals Acquisition Update and Guidance for Moranbah Project
Moranbah Project Acquisition Update and Preliminary Guidance Highlights
Queensland Pacific Metals Limited (ASX:QPM) is pleased to provide an update on the progress of the Moranbah Project acquisition, as well as share preliminary production and financial guidance for the project.
Ownership Transition Expected to be Finalised by End of July
QPM Energy ("QPME") has been working diligently with the vendors of the Moranbah Project to finalise the ownership transition. The completion of this acquisition is currently estimated to occur around the end of July. This is an important step in QPME's growth strategy and will pave the way for the company to make significant advancements in the energy sector.
$30 Million in Net Cash Upon Completion
Upon completion of the acquisition, QPME will receive net cash of $30 million. This cash injection will provide the company with financial stability and the necessary resources to support its operations and expansion plans.
Indicative Production and Financial Guidance
QPME has conducted an extensive review of historical operations and field development plans to develop accurate gas supply forecasts and operating budgets for the Moranbah Project.
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Based on this analysis, QPME is pleased to provide indicative production and financial guidance for the project through to the end of 2024.
Positive EBITDA Forecasted Through 2024
QPME forecasts that the Moranbah Project will generate positive EBITDA through 2024. This projection is based on production, operating, and electricity price assumptions outlined in the Appendix. QPME is confident in the project's potential and is committed to maximising its value for all stakeholders involved.
Queensland Pacific Metals Limited (ASX:QPM) is excited to share the latest updates on the Moranbah Project acquisition and provide preliminary guidance for the project's future. The completion of this acquisition is expected to bring numerous benefits to QPME and drive positive EBITDA through 2024. QPME remains dedicated to its growth strategy and is focused on successfully developing the Moranbah Project to its full potential.
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