Neometals (ASX: NMT)
Neometals has successfully commissioned its pilot plant and commenced production of a titanium-rich gravity concentrate sample for offtake evaluation trials.
Approximately 150 tonnes of gravity concentrates will be produced and shipped in Q1 2022.
|Neometals||ASX : NMT|
|Stage||Production + development|
|Metals||Titanium + Vanadium + lithium + nickel|
|Market cap||A$943 m @ A$1.76|
|Location||Western Australia, Germany|
Neometals Barrambie Pilot Plant and Offtake Update
• Neometals has successfully commissioned its pilot plant and commenced production of a titanium-rich gravity concentrate sample for offtake evaluation trials;
• Approximately 150 tonnes of gravity concentrates will be produced and shipped in Q1 2022 with the majority going to titanium slag producer Jiuxing for commercial scale trials as part of their offtake evaluation process;
• Pre-feasibility studies are on schedule for completion in Q1 2022; and
• Jiuxing commercial smelting trials scheduled for completion Q2 2022 to advance negotiations for formal offtake agreements which are a prerequisite for any future investment decision.
Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to
provide an update on its 100% owned Barrambie Titanium and Vanadium Project (“Barrambie”).
The Company, in conjunction with its consultants Allied Mineral Laboratories, Primero Group and Roxbury Trading Pty Ltd have successfully commissioned a gravity beneficiation plant at Menzies in Western Australia to generate bulk concentrate samples for evaluation by potential Chinese offtake counterparties.
Neometals has a memorandum of understanding with Jiuxing Titanium Materials (Liaonging) Co. Ltd (“Jiuxing MoU”) (“Jiuxing”) (for full details refer to ASX announcement entitled “Barrambie – MOU for Cornerstone Concentrate Offtake”
released on 16th April 2021).
The Jiuxing MoU outlines the technical and commercial pathway to a formal, binding take-or-pay offtake agreement, with Neometals supplying approximately 100 tonnes of mixed gravity concentrate for evaluation trials using Jiuxing’s commercial trials.
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