Aquirian receives increased equipment funding facility from NAB to $25M

• Group equipment funding capacity with NAB increased from $7.75M
• Wubin commercial loan to be reduced from $9.1M to $6M
• Unaudited cash at bank of $9.5M as at 30 September 2026
• Equipment funding available on an asset-by-asset basis as fleet acquired

Technology led mining services company Aquirian (ASX: AQN) has obtained approval from the National Australia Bank (NAB) for an increase to the group’s master asset finance arrangements.

The approval will lift Aquirian’s total equipment funding capacity from $7.75 million to $25 million. As part of the revised banking arrangements, the group will also reduce the commercial loan associated with the Wubin emulsion facility by $3.1 million.

MD, Greg Patching, said the expanded facility provides capacity for the group to fund further fleet and equipment required to service growth contracts.

“Demand for our drilling services and drill and blast technology continues to build. Having the expanded facilities in place means we can commit to new contracts with confidence and bring equipment into service on schedule, while reducing our commercial debt,” Mr Patching said.

“Importantly, we have a range of funding options available and will choose the structure that best suits each contract as we grow the fleet. We appreciate NAB’s ongoing support as we scale the business.”

Aquirian’s unaudited cash at bank as at 30 September 2026 was $9.5 million.

The movement during the quarter primarily reflects mobilisation costs and the working capital build associated with the commencement of the Brightstar Lord Byron contract.

As part of the revised banking arrangements, and consistent with the use of funds outlined in the company’s May 2026 placement, the group will apply $3.1 million to reduce its NAB commercial loan associated with the Wubin facility, from $9.1 million to $6 million.

Mr Patching said the NAB facilities form one part of a broader approach to funding fleet growth.

“In addition to asset finance, operating leases and mine-owner free-issue rigs provide alternative pathways to fund additional equipment, allowing the group to remain capital light.”

Earlier this week Aquirian’s wholly-owned subsidiary Western Energetics was awarded a three-year extension for the supply of its technology and energetics to Aurenne Mt Ida Gold.

Mr Patching said the award represented an important continuation of Western Energetics involvement at Mt Ida and provides further contracted revenue across the company.

The extension has a contract value of around $21 million over the three-year term and is in addition to the existing supply agreement. In combination, the extension takes the supply term through to 31st December 2030.

AQN was up 2.78% to 37.0¢. Mkt cap $45.33M.

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