FEED and Early Works Contract Awarded for Syerston Project

Key points

• Clean TeQ Water awarded FEED and early works contract by Sunrise Energy Metals
• Contract valued at approximately A$5.4 million, including long lead deliverables
• Scope includes cRIP ion exchange circuit and scandium refinery

Full summary

Clean TeQ Water Limited (ASX: CNQ) has been awarded a Front End Engineering Design (FEED) and early works contract by Sunrise Energy Metals (ASX: SRL) for the scandium recovery circuit at the Syerston Scandium Project. The contract, valued at approximately A$5.4 million excluding GST, includes a FEED scope of A$2.0 million and long lead deliverables of A$3.4 million. The scope covers the continuous Resin-in-Pulp (cRIP) ion exchange circuit and the scandium refinery, underpinned by Clean TeQ Water's MBIX technology. The award follows preliminary testwork and engineering completed by Clean TeQ Water. Revenue from the FEED scope is expected to be recognized substantially in the 2027 financial year.

Outlook

Clean TeQ Water's CEO, Peter Voigt, expressed confidence in delivering the project's ion exchange and refinery packages, highlighting the company's track record in delivering advanced systems and metallurgical process plants.