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NeuRizer Ltd ( (AU:NRZ) ) has issued an announcement.
NeuRizer Ltd has moved to dismantle and remove its underground coal gasification demonstration plant at Leigh Creek, a step required by the South Australian Government before further approvals for its NeuRizer Urea Project. The process includes continued groundwater monitoring and addressing all issues raised in the Environmental Impact Study guidelines for the first two stages of the project.
The company has signed letters of award with India’s Reliance Industries for a technology transfer agreement and the sale of plant and equipment, which will be relocated to India for future UCG projects. These agreements are expected to fund NeuRizer’s corporate costs, environmental monitoring, and bank feasibility work for up to 18 months without new capital raisings, while also helping the company meet key regulatory milestones and recover value from specialised assets at Leigh Creek.
More about NeuRizer Ltd
NeuRizer Ltd is an Australian resources and chemicals company advancing the NeuRizer Urea Project at Leigh Creek in South Australia. The company is focused on developing urea production using underground coal gasification-related infrastructure, targeting agricultural and industrial markets that rely on nitrogen-based fertilisers.
Average Trading Volume: 9,997,589
Technical Sentiment Signal: Sell
Current Market Cap: A$3.36M
Learn more about NRZ stock on TipRanks’ Stock Analysis page.