December 2024 Quarterly Activities Report and Appendix 4C
| Stock | Clean TEQ Water Ltd (CNQ.ASX) |
|---|---|
| Release Time | 31 Jan 2025, 4:10 p.m. |
| Price Sensitive | Yes |
Clean TeQ Water reports Q2 FY25 activities and financials
- Awarded $11m contract for PHOSPHIX® phosphate removal plant in Ireland
- Successful delivery of BIOCLENS® nitrate removal plant in Australia
- Heathgate uranium plant installed and moving to commissioning
- Townsville Water Recycling project in final commissioning stage
- LithiumBank cDLE® pilot achieves over 98% lithium recovery
Clean TeQ Water Limited (ASX: CNQ) reported significant operational progress in the December 2024 quarter, highlighted by the award of an ~$11m contract for a PHOSPHIX® phosphate removal plant in Ireland, successful delivery of a BIOCLENS® nitrate removal plant in Australia, and the Heathgate Resources uranium plant reaching the commissioning phase. The Townsville Water Recycling project also reached the final stage of commissioning. In the critical metals space, the company's cDLE® pilot plant in partnership with LithiumBank achieved over 98% recovery of lithium from the Boardwalk brine, producing a 3,000mg/L lithium eluate. The company also secured a Commonwealth government grant to explore the application of its graphene oxide membranes for water treatment in remote communities. Financially, the company received $1.7m in milestone payments from the ENVA PHOSPHIX® project and a $576k R&D refund. It also issued a $1m convertible note from its major shareholder to bolster working capital. The company is positioned for a significant improvement in financial performance in the coming six months, underpinned by the execution of the ENVA contract and a growing pipeline of prospective orders driven by favorable market conditions and increased demand for its advanced water treatment and critical metals extraction technologies.
Clean TeQ Water expects a significant improvement in financial performance in the coming six months, driven by the execution of the ENVA contract and a growing pipeline of prospective orders.
Clean TeQ Water is positioned for a significant improvement in financial performance in the coming six months, underpinned by the execution of the ENVA contract and a growing pipeline of prospective orders driven by favorable market conditions and increased demand for its advanced water treatment and critical metals extraction technologies.