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Aquirian Limited ( (AU:AQN) ) has issued an announcement.
Aquirian Limited has completed a strategic review of its Wubin Energetics Precinct and signed a non-binding framework agreement with Hongda Civil Blasting Group to form a 50:50 joint venture. This collaboration aims to establish an automated electronic detonator manufacturing facility, enhancing Aquirian’s market presence and supply chain security. The joint venture will leverage Hongda’s advanced technology and manufacturing expertise, potentially producing up to 10 million detonators annually. This initiative is part of Aquirian’s ‘Full Potential’ growth strategy, which also includes expanding storage capabilities and entering a joint venture to integrate drilling and blasting services, thereby strengthening its industry positioning and supporting local manufacturing capabilities.
The most recent analyst rating on (AU:AQN) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Aquirian Limited stock, see the AU:AQN Stock Forecast page.
More about Aquirian Limited
Aquirian Limited operates in the Energetics industry, focusing on manufacturing and supplying electronic detonators and related products. The company is strategically positioned in the Western Australian market, aiming to enhance security of supply and market penetration through local manufacturing and storage capabilities.
Average Trading Volume: 218,178
Technical Sentiment Signal: Buy
Current Market Cap: A$43.96M
Learn more about AQN stock on TipRanks’ Stock Analysis page.