Avenira Updates Timeline Targeting First DSO Shipment in H1 2027

Operational and Infrastructure Momentum at Wonarah

Avenira Limited (ASX:AEV) has substantially completed its executive and technical team build-out for the Wonarah Phosphate Project, with six key appointments across mining, maintenance, contracts, survey, sales, and site administration made during the June 2026 quarter. This bolstered team underpins the company's transition from study to execution phase.

Significant progress has been made on enabling infrastructure. Tenders for the Barkly Highway intersection upgrade, a critical logistics node, have been evaluated with contract award expected in the September quarter. Heritage clearance with the Arruwurra Traditional Owners, a gating item for haul road construction, is scheduled to commence in August 2026, paving the way for haul road works targeted for Q4 2026. Meanwhile, refurbishment of the existing 24-person site camp is underway, alongside plans to expand accommodation by 72 rooms.

Logistics Chain and Mining Fleet Advancements

Avenira is finalising haulage arrangements, with road haulage tenders shortlisted to two contractors and negotiations ongoing. Rail haulage proposals for the Tennant Creek to Darwin Port route, including upgrades to the Argyle Rail Siding, are under commercial review with agreements expected by Q3 2026. The Darwin Port access feasibility study is nearly complete, with access approval anticipated in the same quarter.

The mining fleet tender process with original equipment manufacturers has concluded, and Avenira is negotiating long-lead commitments, including opportunities to acquire equipment already in Australia. These procurement steps are critical to meet the updated project schedule.

Revised Timeline Targets First DSO Shipment in H1 2027

The company has updated its project execution timeline, now targeting pre-strip mining activities to commence in Q4 2026 and the first direct shipping ore (DSO) shipment in the first half of 2027. This represents a slight delay from the previous objective of commencing DSO operations in calendar 2026, reflecting more detailed sequencing of heritage clearance, infrastructure works, and logistics finalisation.

The updated schedule remains subject to regulatory approvals, heritage clearance outcomes, contract finalisations, Board approvals, and funding availability. Notably, the Barkly Highway intersection and haul road upgrades are being progressed under separate approvals ahead of broader development commitments.

Jundee South Gold Exploration Program Advances

Exploration at the Jundee South Gold Project in Western Australia is gaining traction. Following the recent appointment of an Exploration Manager and a Senior Exploration Geologist post-quarter, the exploration program has been finalised with heritage clearances commencing imminently. Drilling contractor mobilisation and the start of drilling are expected before the end of September 2026.

The company continues to oppose Applications for Forfeiture lodged by Manda Resources over several Jundee South exploration licences through regulatory channels, maintaining its commitment to advancing this project despite legal challenges.

Financial Position Strengthened by Strategic Placement

At quarter-end, Avenira held A$0.76 million in cash and had drawn A$4 million of a A$5 million unsecured loan facility from MLHK Vehicle 1 Limited, associated with directors John He and Jason He. Subsequent to the quarter, shareholders approved a strategic placement raising A$8.8 million from Hebang Biotechnology, with proceeds received in early July. The company repaid the entire loan facility shortly thereafter, eliminating related party debt.

Exploration and development expenditures during the quarter were approximately A$394,000 and A$1.2 million respectively, with no mining production costs incurred. Payments to related parties, primarily director salaries and fees, totaled around A$476,000.