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Quantum Graphite Limited (ASX:QGL)

ALERT: Price-sensitive ASX Announcement for QGL
Current share price for QGL : $0.385 0.015 (4.05%)+
Announcement
Release
12 Jun 2026 8:35AM
Price at Release
$0.370
Full Release
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Summary
Quantum Graphite Limited (QGL) has finalized a binding Ore Supply Agreement (OSA) with Sunlands Pure Group (SPG) for the consolidation of downstream processing and refining activities. Under the OSA, SPG will exclusively offtake all mineral production from QGL's Uley Mines to generate refined production of up to 500ktpa. The agreement specifies a 20-year term with an option for an additional 20 years, requiring QGL to maintain a JORC 2012 Ore Reserve for 3 years of production. SPG will operate refining facilities both in Australia and at the Al Buraimi refinery in Oman, utilizing a modified hydrofluoric acid leaching process. The OSA is accompanied by a Site Management Agreement (SMA) that governs site use and management, which is currently under negotiation. This strategic agreement positions QGL as a key feedstock provider in the flake graphite market, aiding in achieving scalability and cost-efficiency to meet growing market demands.
Key Points
  • Quantum Graphite Limited consolidates downstream activities with SPG.
  • Exclusive offtake from Uley Mines for SPG's processing facility.
  • OSA term of 20 years, renewable for another 20 years.
  • Minimum production rate to support SPG's 500ktpa refined output.
  • QGL to maintain a 3-year JORC 2012 Ore Reserve.
  • Refining operations at Uley site and Al Buraimi, Oman.
  • SPG's process includes a modified HF acid leaching method.
  • Site Management Agreement (SMA) under negotiation.
  • Strategic focus on scalability and cost-efficiency for graphite supply.
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.