Daily Roundup

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Delorean Secures $6.1m ARENA Grant for Major SA1 Facility Upgrade

Delorean Corporation has secured a $6.08 million grant from the Australian Renewable Energy Agency (ARENA) to enhance its SA1 bioenergy facility in South Australia. This grant will support critical infrastructure upgrades to enable the production of renewable gas, Renewable Gas Certificates, and liquid carbon dioxide.

The SA1 facility will process organic waste to generate mains-grade biomethane, which will be supplied to industrial users through the Adelaide gas network under long-term offtake agreements. Additionally, the upgrades will allow the production of biogenic food-grade liquid carbon dioxide, with similar offtake agreements in the works.

This landmark project represents a major step towards decarbonizing hard-to-abate industrial sectors by providing renewable energy solutions that address Scope 1 emissions. Delorean expects the ARENA grant to be a game-changer, highlighting the bankability of its near-term and medium-term development pipeline.

Interim Leadership Update at Michael Hill

Following the passing of its CEO and Managing Director, Daniel Bracken, Michael Hill International Ltd has announced interim leadership arrangements. Andrew Lowe, the Chief Financial and Supply Chain Officer, has been appointed as Interim CEO, while the Board conducts a global search for a permanent replacement.

The Board has also appointed Claudia Batten as Deputy Chair to provide additional support during this transition period. The experienced executive leadership team will assist Andrew Lowe in steering the company through this period.

Kinatico Delivers Strong H1 Results, Launches ComplianceX Platform

Kinatico Ltd reported a solid H1 FY25, with revenue, EBITDA, and NPAT all increasing. Notably, the company's SaaS revenue grew by 49% to $6.5 million, now representing 42% of total revenue.

Kinatico also launched its new 'ComplianceX' platform, which aims to simplify the process of daily people management compliance for organizations. The company believes the Australian market opportunity for such a solution is considerable, with the combined GRC and workforce workflow software market projected to grow to $2.7-3.0 billion by 2030.

West African Resources Delivers $246 Million NPAT for 2024

West African Resources Ltd (ASX: WAF) reported impressive financial results for 2024, with gold production of 206,622 ounces at an AISC of US$1,240 per ounce. The company generated revenue of A$730 million and a profit after tax of A$246 million, with net assets of A$1.3 billion, including A$392 million in cash.

With the Kiaka project on track for first gold in Q3 2025, WAF is positioned to more than double its annual gold production to over 420,000 ounces per year, solidifying its position as a leading unhedged gold producer.

Iris Metals Intersects High-Grade Lithium and Caesium at Tin Mountain

IRIS Metals Limited (ASX: IR1) has announced the results of its Phase I drilling program at the Tin Mountain Project in South Dakota, USA. The findings confirm high-grade lithium and caesium mineralization, with the pegmatite remaining open at depth.

IRIS plans to conduct Phase II drilling using horizontal drilling technology to target the central pegmatite zone beneath the historical underground workings, which were not adequately tested in the initial program. The company is also preparing for an expanded airborne geophysics survey to define and permit drill-ready targets for the 2025 field season.