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QEM Limited (ASX:QEM)

ALERT: Price-sensitive ASX Announcement for QEM
Current share price for QEM : $0.017 0.001 (6.25%)+
Announcement
Release
30 Jul 2026 2:37PM
Price at Release
$0.016
Full Release
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Summary
QEM Limited provided a quarterly update for the period ending 30 June 2026, highlighting a successful capital raise of $2.62 million and ongoing development of the Julia Creek Vanadium and Energy Project. The company is focused on advancing its environmental studies for an EIS, acquiring critical mineral projects in Idaho, USA, and strengthening its asset portfolio in line with global critical mineral demand. QEM's ESG initiatives align with globally recognized metrics, and no mining production or development activities were reported for the quarter.
Key Points
  • QEM Limited raised $2.62 million through a well-supported placement, closing the quarter with approximately $4.2 million cash.
  • Progress on environmental baseline studies for the Julia Creek Vanadium and Energy Project (JCVEP) Environmental Impact Statement (EIS) was made.
  • QEM is advancing the acquisition of critical minerals projects in Idaho, USA, targeting minerals like fluorspar, tungsten, antimony, niobium, tantalum, rare earth elements, and gold.
  • The JCVEP is one of the world's largest undeveloped vanadium and oil shale deposits, with a significant JORC (2012) Mineral Resource.
  • QEM maintains a focus on expanding its asset portfolio in line with global demand trends for critical minerals.
  • The company engages in ESG activities based on the World Economic Forum’s Stakeholder Capitalism Metrics framework.
  • QEM completed a placement issuing approximately 57.67 million new shares and plans to issue free-attaching options.
  • No mining production or development activities took place during the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.