Aquirian's (ASX:AQN) new detonator facility is expected to increase company earnings by about AU$2 million in fiscal year 2029 and AU$2.5 million in fiscal year 2030, based on cautious estimates for timing, production levels, and profit margins, according to a Tuesday Euroz Hartleys note.

The research firm believes there is potential for faster construction and commissioning timelines, which could lead to higher earnings earlier than expected.

Capital spending for the project is expected to occur gradually over fiscal years 2027 and 2028, the note added.

Euroz Hartleys has maintained a speculative buy rating on Aquirian and raised its price target to AU$0.68, from AU$0.65.

The company's shares fell 4% in recent Wednesday trade.