• Strongly supported $5.0 million share placement
• Wubin Emulsion facility upgrades commenced, and Project Manager appointed
• 12-month agreement (circa $1.5 million revenue) for Wubin tolling
• Production version of Automated Collar Keeper® System in final workshop testing
• Manual Collar Keeper® System for Sandvik rigs completed

Aquirian Limited (ASX: AQN) has provided a comprehensive business activities update for the second half of the 2025 financial year. The key highlights include a strongly supported $5.0 million share placement, the commencement of upgrades at the Wubin emulsion facility, and the appointment of a project manager to oversee these upgrades. The company has also secured a 12-month tolling agreement worth approximately $1.5 million in revenue. On the technology front, Aquirian has completed the development of a manual Collar Keeper® System for Sandvik drill rigs, expanding the applicability of this patented product. Additionally, the production-ready version of the automated Collar Keeper® System is in the final stages of workshop testing and is scheduled for production trials in the coming weeks. The company is also making progress on a biodegradable variant of the Collar Keeper®. Aquirian's Managing Director, Greg Patching, commented on the strong progress across the company's core strategic pillars of energetics and technology, and the positioning of the company as a leader in blast outcomes. The Board has also tasked two directors to lead a 90-day strategic review focused on exploring and evaluating opportunities to accelerate and maximize the full potential of the Wubin facility.

Aquirian is advancing towards its Bootless Bench® vision, which aims to deliver a step change in operator safety, drill efficiency, and cost-effectiveness for its clients. The company is also making progress on a biodegradable variant of the Collar Keeper® and looks forward to updating shareholders and customers on this opportunity in the coming quarter.