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Queensland Pacific Metals non-executive chairman makes on-market purchase

Eddie King has acquired 750,000 new shares in the company for total consideration of $29,000.

Queensland Pacific Metals Ltd - Queensland Pacific Metals non-executive chairman makes on-market purchase
The company’s pilot plant recently produced its first batch of nickel-cobalt mixed hydroxide precipitate (MHP)

Queensland Pacific Metals Ltd (ASX:QPM) (FRA:4EA) non-executive chairman Eddie King has shown support in the company’s TECH Project, with an on-market share purchase.

On January 8 King acquired 750,000 new shares in the company formerly known as Pure Minerals Limited, for $29,000 in an indirect interest.

This brought the total number of securities held in the indirect interest to 1.75 million shares with another 500,000 shares held in a direct interest.

First batch from pilot plant

The purchase follows the company recently announcing the first batch of nickel-cobalt mixed hydroxide precipitate (MHP) produced at its TECH project pilot plant – a key milestone for the company.

Notably, the pilot plant has demonstrated the company’s DNi ProcessTM flowsheet on New Caledonian ore which is of key interest to potential offtakers.

The company has also signed an agreement seeking to utilise electricity from solar generation and network assets for the Townsville project.

Quick facts: Queensland Pacific Metals Ltd

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