QPM Secures First Drawdown of Macquarie Facility
Key points
- QPM executes A$113.7 million Master Lease Agreement with Macquarie Bank
- Initiates delivery of major equipment packages for March 2026 quarter
- Implements currency hedge to minimize exchange rate fluctuations
Full summary
Queensland Pacific Metals Ltd (QPM) has announced the first drawdown of its A$113.7 million Master Lease Agreement (MLA) with Macquarie Bank. This funding will support the company's ongoing project development. QPM has also executed a currency hedge to ensure its exposure to exchange rate fluctuations is minimized. Additionally, the company has issued a Full Notice to Proceed under its contract with GE Vernova, initiating the commencement of delivery of all contract-related equipment. The major equipment packages are scheduled for delivery to Australia in the March quarter of 2026. This announcement marks a significant milestone for QPM as it continues to progress its project and secure the necessary financing and equipment to drive its development forward.
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