Queensland Pacific Metals raised $19.1 million through a share placement, issuing 503,135,078 shares at 3.8 cents each, at a 7.3% discount.

The funds will drive the Moranbah Gas Project's growth initiatives and working capital.

The placement garnered strong support from new and existing shareholders. $5 million is allocated for an economic feasibility study and preparatory works for new power generation, while $6 million will aid production and market growth.

The capital injection aligns with the Federal Government's 'Future Gas Strategy', supporting gas as a long-term energy source.