QEM Limited announces full repayment of unsecured loan facility

QEM Limited (ASX: $QEM) has announced the full repayment of the drawn amount and interest of the unsecured loan facility (A$759,000) it entered into with CL Fitch Pty Ltd. The repayment was made from a portion of the proceeds of the sale of the Julia Creek Renewables Project, as detailed in the ASX Announcement of 26 March 2024 and 15 January 2024.

Executive Commentary on Loan Repayment

The Company is pleased to confirm the full repayment of the unsecured loan facility, which has now been closed without any early repayment charges or penalties incurred. This repayment demonstrates our commitment to managing our financial obligations and utilizing the proceeds from strategic asset sales to strengthen our financial position. We remain focused on the exploration and development of our flagship Julia Creek Project, aiming to become a leading producer of liquid fuels and a global supplier of high-quality vanadium pentoxide.

Summary of QEM Announcement

QEM Limited (ASX: $QEM) has successfully repaid the drawn amount and interest of the unsecured loan facility, totaling A$759,000, using proceeds from the sale of the Julia Creek Renewables Project. The Company has confirmed the closure of the Facility without incurring any early repayment charges or penalties. QEM remains committed to the exploration and development of the Julia Creek Project, which holds a globally significant JORC (2012) Mineral Resource of 2,870 Mt @ 0.31% V2O5 and aims to become a leading producer of liquid fuels and a global supplier of high-quality vanadium pentoxide. The project's strategic location and resource potential position QEM for future growth and development.