NeuRizer Reports A$247K Operating Outflow with Reliance Payments Started

Reliance Industries Payments Kickstart Funding

NeuRizer Ltd (ASX:NRZ) has received the first payment from Reliance Industries Limited (RIL) under two Letters of Award awarded in March for IP licensing and the sale of its demonstration plant. This payment, which commenced in April, marks a critical cash inflow for NeuRizer, underpinning its operations for the next two quarters with ongoing monthly payments expected over the next 15 months. The company hosted RIL’s engineering team at Leigh Creek to facilitate the plant’s disassembly and transport to India, signalling progress in its international collaboration.

Progress on NeuRizer Urea Project Stage 1

Stage 1 of the NeuRizer Urea Project (NRUP) continues to build on prior demonstration successes, with the Environmental Impact Statement (EIS) scheduled for submission in May. The project, declared a Major Project by South Australia, aims to establish NeuRizer as a key domestic and international urea producer, offering supply chain security for Australian farmers. Site activities include ongoing groundwater monitoring, infrastructure maintenance, and environmental management, alongside engagement with government bodies and local communities in Leigh Creek and Copley.

NeuRizer has renewed and maintained multiple petroleum licenses critical to the project’s development and continues to liaise with the South Australian Department of Energy and Mining on compliance and infrastructure planning, including a new water pipeline.

Trading Suspension and Financial Reporting Delays

Despite operational progress, NeuRizer’s shares remain suspended under ASX Listing Rule 17.5 due to outstanding financial reports. The company is working closely with auditors and the ASX to lodge the 2025 full-year accounts and annual report, with prior overdue quarterly reports submitted during the quarter. This ongoing suspension limits share liquidity and investor access, though the recent Reliance payments alleviate immediate funding pressures.

Cash Flow Reflects Operating Outflows Amid Funding Support

The company’s Appendix 5B reveals a net operating cash outflow of A$247,000 for the quarter, with investing and financing activities also drawing on cash reserves. NeuRizer ended the quarter with A$90,000 in cash, but the Reliance payment provides a runway extending over the next two quarters. Executive and non-executive director fees accounted for A$30,000 of payments during the period. The company affirms its ability to continue operations and meet business objectives based on this funding arrangement.

Community Engagement and Site Management Continue

NeuRizer maintains active engagement with local communities in Leigh Creek and surrounding areas, attending events and addressing queries about the NRUP. Site security and environmental stewardship remain priorities, with ongoing maintenance of safety fencing, infrastructure repairs, and invasive weed control in compliance with regulatory licenses. These efforts support the company’s positioning as a responsible operator amid project development.

The current quarter’s activities build on earlier capital raises and project milestones, including the $350,000 raised via private placements to support working capital and environmental approvals, as reported in March 2026. NeuRizer’s collaboration with Reliance Industries and regulatory progress continue to shape its trajectory toward commercialisation and market re-entry, though the timing of ASX suspension resolution remains uncertain.