M8 Sustainable Limited provided an update on construction progress at its Gingin Landfill Facility. Construction works have gained pace at Gingin since completion of the $10 million convertible notefacility. Final key works including the installation of fencing, a weighbridge and placement of remaining drainage aggregate in Cell 1, have commenced and M8S anticipates this work to be completed in fourth quarter of 2022.

Currently Cell 1 is 90% complete and the leachate pond and recirculation system 100% complete. The Company has submitted the required licensing documents to the Department of Water and Environmental Regulation (`DWER'), which will be followed by a final application for commencement of operations once on-site works are completed. This final DWER sign off typically takes up to sixty days, with commercial operations at Gingin expected to commence in the first quarter of 2023.

M8S has already secured a cornerstone customer agreement with Brajkovich Demolition & Salvage (WA) Pty Ltd. (BDS) to supply 40,000 tonnes and up to 60,000 tonnes of waste per calendar year. The Company will continue to progress additional cornerstone customer discussions, with a primary focus on fast-tracking full utilisation of Gingin's approved annual capacity of 150,000 tonnes. Ahead of Gingin opening, M8S will also commence ramp-up of operations at its Maddington Waste Facility for skip-bin and construction and demolition (C&D) waste, to take advantage of disposal synergies between both facilities.

M8S expects ramp-up to be close to nameplate capacity within 24 months.