Neometals {ASX: NMT} has commenced its previously announced share buyback program with an initial purchase of 1.263 million shares at 32 c per share.

This follows their offering for sale for $125 million their 13.8% stake in the Mt.Marion lithium project, WA.

Neometals {ASX: NMT} has commenced its previously announced share buyback program with an initial purchase of 1.263 million shares at 32 c per share.

This follows their offering for sale for $125 million their 13.5% stake in the Mt.Marion lithium project, WA.  If their stake is not taken up by their existing partners in the project, Ganfeng Lithium and ASX listed Mineral Resources Ltd, Neometals may offer it to outside parties.

Under this buyback program, Neometals can purchase 28.1 million shares.