IPO - QEM Limited, page-52

Your right that they have full rights over the Richmond project. It’s interesting that global oil shale company wanted the oil shale rights within the Julia creek tenement. Is the oil shale within the Richmond tenements not as prevelant?

I’ve done a fair bit of reading on the IRC Richmond projects and they hardly never refer to oil for those tenements. Even in their most recent inferred jorc resource.

https://www.northweststar.com.au/st...vanadium-project-a-globally-significant-find/

We do know however that QEM have an Inferred resource of oil shale.



It’s definitely interesting and I’ll try do a bit more reading into the lilyvale deposit and the oil aspect. Lucky that IRC at least retained 25% of the project.