M8S - M8 Sustainable

[Dona Ferentes]

M8 Sustainable Limited (M8S) is a recycling and waste management entity which currently operates a waste recycling business on a leased site in Maddington, Western Australia (Maddington Facility), plans to develop a waste landfill facility in Gingin, Western Australia on land owned by a wholly owned subsidiary (Gingin Facility) and provides operation and maintenance (O&M) services to the Brockway waste compost and energy facility located in Shenton Park, Western Australia (Brockwaste Facility) via a long term contract.

Last year, a 1 for 1 Renounceable Rights Issue raised $4.7 million; priced at $0.02 cents per share, with rights trading from 30 June 2021. Major shareholder, M8 Holding Limited (formerly SBANG Sustainable Energies Limited), took up full entitlement under the offer of approximately $1.67 million. Funds raised will be used for the progressive ramp up of steel activities at Maddington, complete construction of Gingin and supplement working capital to strengthen the balance sheet. Key focus on completing construction and commissioning of the Gingin Landfill Facility with commencement of operations currently expected in Q1 2022.

Market cap is all of $10million

 

[Dona Ferentes]

Waste management firm M8 Sustainable had some good news in afternoon trade, after flagging a deal with a WA based waste management firm Brajkovich Demolition & Salvage in connection with the M8S Gingin Landfill Facility.

The deal will see BDS supply Gingin ... a fully permitted landfill with approved capacity of 150,000 tonnes per annum ... with a minimum of 40,000 tonnes and up to 60,000 tonnes of waste per calendar year, over a five year term.

“This is an exciting development for the Company as it places Gingin on the path to achieving its targeted tonnage of waste. There is a shortage of landfill facilities, especially in Perth’s Northern Metropolitan Corridor, and we think Gingin will be a very strategic asset,” M8S managing director Tom Rudas said.