In a statement QGC said, “We will issue 6,829,269 ordinary shares at $0.20.5 cents per share, a discount of 6.7% to the five day weighted average price of QGC’s shares ending 25 October.”
QGC and co-venturer Pangaea Oil & Gas Pty Ltd have recently announced a drilling campaign which is expected to double the certified gas reserves at Argyle and seek out exploration tenements in the basin.
A pre-feasibility study on the construction of the power plant has been completed and QGC is currently in negotiation with Siemens for the generating equipment.
