Quarterly Activities/Appendix 5B Cash Flow Report
| Stock | Queensland Pacific Metals Ltd (QPM.ASX) |
|---|---|
| Release Time | 29 Oct 2025, 8:16 a.m. |
| Price Sensitive | Yes |
QPM Delivers Strong Quarterly Results, Advances Isaac Power Station
- Excellent progress made with the development of the 112MW Isaac Power Station
- Townsville Power Station returned to service with improved efficiency
- Gas field production ramped up steadily, planning underway for further growth
- Release of Queensland State Government 5 Year Energy Roadmap aligns with QPM's strategy
QPM Energy Ltd (ASX:QPM) has presented a summary of its activities during the September 2025 quarter, reporting excellent progress on the development of the 112MW Isaac Power Station (IPS) project. Key milestones include the issuance of a Full Notice to Proceed to GE Vernova for the contracted gas turbines, the execution of a $113.7 million Master Lease Agreement with Macquarie Bank to fund the gas turbine purchase, and the lodgment of a Material Change of Use Development Approval application with Isaac Regional Council. The company also executed a Preliminary Works Agreement with Powerlink Queensland for the IPS grid connection. The Townsville Power Station (TPS) returned to service in late July following its major overhaul, with improved electricity generation efficiency. Gas field production was ramped up steadily over August and September, and QPM has completed planning for a field development program to increase total gas supply to around 37TJ/day ahead of the IPS commissioning. The release of the Queensland State Government's 5 Year Energy Roadmap was noted as aligning with QPM's strategy, with the Roadmap targeting a doubling of gas-fired generation capacity by 2035 and providing initial seed funding of $400 million to leverage new private sector investment into energy projects across the state.QPM continues to progress other activities in support of the IPS development, including detailed engineering, tendering and contract awards for balance of plant and supporting infrastructure, finalisation of water supply agreements, and commissioning and operational readiness planning.
QPM expects stronger electricity pricing during the current quarter as Queensland transitions to summer weather patterns. The company is targeting mid-2027 commissioning for the 112MW Isaac Power Station.