• Completed private share placements to raise $350,000 for working capital
• Progressed Stage 1 of the NeuRizer Urea Project, including environmental impact statement
• Continued collaboration with DL E&C Co Ltd on NRUP Stage 2 engineering and construction

NeuRizer Ltd has released its Q3 2024/25 Quarterly Activities Report and Cashflow Statement. The company completed two private share placements during the quarter, raising a total of $350,000 before costs, which were applied to the company's general working capital. Stage 1 of the NeuRizer Urea Project (NRUP) continues to progress, with the federal Department of Climate Change, Energy, the Environment and Water releasing the final Environmental Impact Statement (EIS) guidelines in December 2024 following a period of public consultation. NeuRizer is now working on the Stage 1 EIS, which brings the NRUP closer to project start-up and represents progress towards final project approval and first urea production (i.e. Stage 2). The company has also continued collaborating with DL E&C Co Ltd to divide the NRUP EPCC contract into an engineering and procurement contract (managed by DL E&C Co Ltd) and a construction and commissioning contract (to be awarded to a construction company through a competitive bidding process managed by NeuRizer). During the quarter, the company incurred $120,000 on exploration and evaluation activities, with the majority relating to capitalised labor costs, site maintenance, and other minor operating costs.

The company expects to be able to both continue its operations and expand those based on funding from a long-term investor and a consultancy agreement with Reliance Industries Limited, which will also include a licensing agreement and the sales of redundant equipment, providing immediate revenue for the company.