Aquirian (ASX: $AQN) Corrects Quarterly Activities Report Date

Aquirian Limited (ASX: $AQN) has issued a correction to its Quarterly Activities Report, stating that the end quarter date was incorrectly referenced on the first page. The revised date for the report is 31 December 2023. The report highlights a revenue of $6.0 million, down 13.5% on the previous corresponding period, with EBITDA up 15.7% to $1.3 million and positive operating cashflow of $2.0 million. The Company's net debt has reduced to $0.8 million, and cash and cash equivalents have increased by $1 million to $4.5 million. Aquirian also announced a 2-year contract extension with First Quantum Minerals for its Collar Keeper® System and successful field trial of the automated system.

Managing Director's Commentary on Quarterly Performance

This was a significant quarter for Aquirian, and I wish to acknowledge our team for their efforts in driving positive outcomes for our customers and the company. Operationally, we continue to provide solutions for our customers that lead to improved efficiency and cost reductions. The automated field trial of Collar Keeper® System advances the development of a Bootless Bench®, and we are confident this will be transformational for our customers. I am delighted with the progress of licensing the Wubin Emulsion plant and the system testing. I anticipate the financial completion settlement to follow the licensing closely, and I look forward to updating investors in the near term.

Summary of Quarterly Activities and Outlook

Aquirian Limited (ASX: $AQN) has corrected the end quarter date in its Quarterly Activities Report to 31 December 2023. The report indicates a 13.5% decrease in revenue to $6.0 million, with EBITDA increasing by 15.7% to $1.3 million and positive operating cashflow of $2.0 million. The Company's net debt has reduced to $0.8 million, and cash and cash equivalents have increased by $1 million to $4.5 million. Aquirian's Managing Director expressed confidence in the progress of licensing the Wubin Emulsion plant and the system testing, anticipating a close financial completion settlement. The Company also entered a 2-year contract extension with First Quantum Minerals for its Collar Keeper® System and successfully conducted a field trial of the automated system. Aquirian remains in a sound financial position and expects to continue its operations and meet its business objectives.