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Highlights:

Parkway awarded over AUD 13 million in water infrastructure contracts, including a AUD 12.85 million deal with a major contractor.

Company expects additional contract wins and continues to advance its Queensland Brine Solutions strategy.

Shares rose 20% to 1.2 cents on 25 June 2025 following the announcement.

Parkway Corporate Limited (ASX:PWN, FSE:4IP) has announced a series of developments, including the award of contracts exceeding AUD 13.5 million in value, with further material agreements expected shortly. The update also highlighted progress in the company's Queensland Brine Solutions (QBS) initiative and the extension of its term loan facility to support future growth.

The most significant component of the update is a AUD 12.85 million contract secured by a wholly owned Parkway subsidiary with a tier-1 engineering and construction firm. This company, described as a major player in Australia's infrastructure sector, holds a net cash balance above AUD 1.5 billion and a project backlog exceeding AUD 20 billion. The contract covers structural, mechanical, and piping (SMP) services, including fabrication, site installation, and project management support for a major wastewater treatment complex.

The works under the Parkway Scope will commence immediately, with contracted completion by July 2026. Parkway expects to recognise over 85% of the revenue in FY26, with the remaining portion to be accounted for in FY25 and FY27. Payment terms are structured around monthly claims for work completed, and retention conditions include 5% of the contract value held until the end of a two-year defect liability period.

In addition to this major project, multiple minor contracts have also been secured, including AUD 660,000 in project awards from a regional urban water authority. Parkway noted that it has been advised by several clients that it is the preferred contractor for other scopes and expects formal work orders soon.

The company has reiterated its expectation of further material contract awards, based on continued engagement with utilities and construction partners.

Progress on Queensland Brine Solutions

The QBS division continues to gain momentum, with representatives participating in industry events and engaging stakeholders across Central Queensland. The business is working on securing strategic project sites for brine management and processing, including through an ongoing tender process where QBS has been shortlisted.

Feasibility studies and site acquisition planning are being conducted in parallel to these engagements.

Technology Piloting and Loan Facility Update

Parkway has successfully completed a piloting campaign for a global mining company, based on its proprietary aMES® flowsheet. The tests were conducted on concentrated brines from an international critical minerals project. Following the successful trial, Parkway will recognise AUD 200,000 in revenue during the current quarter.

The company also announced amendments to its AUD 4 million Term Loan Facility. The drawdown period has been extended to 17 December 2025, and the Acquisition Facility component has been increased from AUD 1 million to AUD 2 million.