QEM - Newly listed vanadium

Mark Gordon

Independent Investment Research

The recent listing of QEM Limited is well timed to capitalise on the resurgence of interest in vanadium, with V2O5 prices rising 6-fold to ~US30/lb since the US$/5lb lows of 2016,(which possibly points towards a structural change in the market over the longer term.

The Company has listed (with a fully filled A$5 million subscription) on the back of their 100% owned Toolebuc Project, located with ready access to infrastructure near Julia Creek in Queensland, with the region also attracting the recent interest of a number of other companies, both listed and private.

Activities are focussed on a PFS for the Project, which has a large, flat lying shallow resource (hosted within the Toolebuc Formation) of 1,700 Mt @ 0.34% V2O5 (5.78Mt contained V2O5), with 3C Contingent Oil Resources of 589 MMbbl, based on 90% extraction of Petroleum Initially In Place of 654 MMbbl, with a yield of 64.1 litres/tonne.

One of the key aspects of the PFS is metallurgy (primarily for vanadium, but also for petroleum products), and to that end, as part of their studies, the Company has entered into an MoU with TSX-V listed Petroteq Energy, a company which has commercialised a closed loop, solvent extraction process for treating oil sands. Under the terms of the agreement Petroteq will carry out test work on Toolebuc Formation samples, and if successful this could be a game changer, in allowing for the low cost treatment of the oil shales using modular equipment.

Activities associated with the PFS, including drilling and metallurgy, will provide steady news flow, and to download our recent report on QEM please follow the link.  

 


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Senior Analyst
Independent Investment Research

Mark is a Senior Resources Analyst for Independent Investment Research, with a focus on junior and mid-cap listed resources stocks. With over 10 years as an analyst, following on from 17 years as a geologist, he has a good insight into the sector.

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