IPO - QEM Limited, page-58

Hi Chris, fully support your comments on vanadium and thank you for sharing. I think that V205 will run to $20 per pound, probably within the next 2-3 weeks. $20 is a resistance level so many vanadium companies will set to benefit from the positive media surrounding the further uptick in prices. Undoubtedly QEM has good timing on its listing.

However, IMHO and please DYOR, given the issues with Oil Shale in Queensland, and QEM's repeated need to be fed capital to progress the project (they are only at inferred status..this is so early..many, many raises to come) and the long lead time until production, this company is not a long term investment proposition. IMHO this stock is going to go up after listing, ride the vanadium hype and entice numerous uneducated mum and dad investors, but its in for a big fall soon thereafter as punters (in particular investors) realise that they are better stocks for long term accretive gains in vanadium companies which are closer to production and have the management skills to permit/finance/construct/commission and operate. We saw all this before in the lithium boom. Only the ones close to construction/production survive.

IMHO, and please DYOR, come the end of Q1 2019 (at the very latest), any gains from this stock will have vanished quicker than Milli Vanilli's music career and QEM will be in negative territory. IMHO they won't be able to raise decent amounts without massive dilution. Therefore, IMHO, it will just be a slow and steady erosion of equity until the company has one or many billion shares on offer and the company just becomes a shell.

IMHO and please do your own research, if you are a trader rather than an investor, this may be an excellent stock to gain some uplift upon listing and then to go short on as people eventually transfer interest.

All of the above, is just my opinion. Please do all of your own research as I may be way off the mark. Just thought I would share my opinions.