NeuRizer Ltd
(ASX:NRZ) Share Price and News

Key Statistics

About NeuRizer

The Adelaide-based NeuRizer Ltd is developing the NeuRizer Urea Project (NRUP) in South Australia. This project covers the old Leigh Creek Coal Mine, 550 km north of Adelaide, which for many decades provided thermal coal for a power station at Port Augusta before the mine closed in 2015. NeuRizer will now use in-situ gasification to produce syngas from the deep Leigh Creek coal seams, and use this syngas to produce urea, a commonly used fertiliser. A Pre-Feasibility Study published in November 2020
valued the NeuRizer Urea Project at A$3.4bn pre-tax, using a 9% discount rate.

Future Outlook of NeuRizer (ASX:NRZ)

The road ahead for NeuRizer is closely tied to getting the NRUP up and running. The project has been delayed by delayed regulatory approvals and difficulty in securing necessary financing. You need only look at the fact the company boasted to investors in late April that it had a few weeks ago secured a sale and leaseback of its diesel generators for $2m pre-GST, for $83,000 per month. The fact that this was one of the major pieces of news during the March quarter sums up the state the company is in.

Is NeuRizer (ASX:NRZ) a Good Stock to Buy?

No. The whole sector of fertiliser project developers has plenty of companies that have good projects on paper, but are struggling to get them off the ground due to an inability to secure financing.

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Frequently Asked Questions

NeuRizer Ltd's main project, the NeuRizer Urea Project, hasn't started yet because it’s waiting for environmental approvals. This delay affects when the project will kick off and how much it will cost.

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