Critical minerals and energy company QEM Limited (ASX: QEM) is pleased to announce that it has received firm commitments to raise A$2.05 million (before costs) via a Placement to institutional and sophisticated investors.
Highlights:
- Firm commitments secured to raise A$2.05 million via a well- supported Placement to accelerate development of the Julia Creek Vanadium and Energy Project (JCVEP).
- Leadership transition: Founding MD & CEO Gavin Loyden to retire at the end of FY25, after 11 years of visionary leadership.
- New appointment: Seasoned global mining executive Robert Cooper named incoming CEO and MD to lead the Company into its next growth phase.
The Placement proceeds will fund key workstreams to advance the Julia Creek Vanadium and Energy Project (JCVEP) — one of the world’s largest co-located vanadium and oil shale resources—as it progresses into the Pre-Feasibility Study (PFS) phase.
Leadership Transition to Drive Next Stage of Growth
With the Company entering a new stage of development, Managing Director and CEO Gavin Loyden has advised that he will retire at the end of the current financial year.
Mr Loyden founded QEM in 2014 and has been instrumental in shaping the Company’s vision, securing the Julia Creek asset, and progressing it into a nationally significant critical minerals project.
Gavin Loyden, Managing Director, said:“With the Company now in a strong cash position, ready for commencement of a PFS on the Julia Creek Project, and after a total of 11 years since founding QEM in 2014, now is the perfect time for me to retire and hand over leadership to a highly experienced global mining executive. I am very happy that the Company has been able to attract a new CEO with the global credentials that Robert brings to QEM and I’m excited for the future of the Company.”
QEM Chair Tim Wall added;“On behalf of the Board and shareholders, I sincerely thank Gavin for his vision, leadership, and tireless contribution in realising the strategic ambition he set in 2014—to establish QEM as a leading critical minerals and energy fuel supplier unlocking world-class resources in NW Queensland.”
Incoming CEO: Robert Cooper
The Board is pleased to announce the appointment of Robert Cooper as QEM’s new CEO and Managing Director, commencing July 2025.
Mr Cooper brings over 30 years of global mining experience, including senior executive leadership and non-executive board roles across the resources and battery materials sectors. He most recently served as MD/CEO of New Century Resources, and prior to that, as CEO of Round Oak Minerals, a wholly owned subsidiary of Washington H. Soul Pattinson (ASX:SOL). He has held senior roles with Discovery Metals, BHP, and has been a NED at Novonix (ASX:NVX), Syndicated Metals, and Verdant Minerals.
Tim Wall, Chair, said:“I welcome Robert Cooper as QEM’s CEO to lead the next phase of our development. His deep technical, strategic, and commercial background in global metals exploration, project development, and operations—along with his experience in the battery materials space—stand him in strong stead to lead QEM through this next chapter.”
Click here for the full ASX Release
