Queensland Pacific Metals (ASX:QPM) completed the drilling of all vertical and five of the proposed seven lateral wells, with two wells in production and three wells to be completed and commissioned by end-October, according to a Friday filing with the Australian bourse.
The drilling was fully funded under the Dyno Nobel Development Funding Facility, the filing stated.
The company and Incitec Pivot (ASX:IPL) amended the existing corporate facility to allow for direct funding of the fixed charges under the North Queensland Gas Pipeline and Townsville Power Station contracts, the filing stated.
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