Neometals Ltd (ASX: NMT)
Announced that Primobius GmbH, the JV company owned 50:50 by Neometals and SMS group GmbH, has executed a non-binding MOU with InoBat j.s.a., a Slovakian battery manufacturing company, InoBat Auto J.S.A.
The MoU provides an evaluation framework towards a potential Primobius-InoBat commercial cooperation that will operate a commercial lithium-ion battery recycling facility in Central/Eastern Europe.
|Neometals||ASX : NMT|
|Stage||Production + development|
|Metals||Titanium + Vanadium + lithium + nickel|
|Market cap||A$125 m @ 23c|
PRIMOBIUS JV ENTERS INTO RECYCLING MOU WITH EUROPEAN BATTERY PRODUCER
Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce that Primobius GmbH (“Primobius”), the joint venture company owned 50:50 by Neometals and SMS group GmbH (“SMS group”), has executed a non-binding
memorandum of understanding (“MoU”) with InoBat j.s.a., a founder and the controlling person of a Slovakian battery manufacturing company, InoBat Auto j.s.a. (jointly as “InoBat”).
The MoU provides an evaluation framework towards a potential Primobius-InoBat commercial cooperation (“Cooperation”) that will operate a commercial lithium-ion battery recycling facility in Central/Eastern Europe.
InoBat is a member of the IPM Group of companies, focusing mainly on infrastructure and technology related investments in Europe, primarily in Slovakia, where it is establishing lithium-ion battery (“LiB”) demonstration and production lines with
applications in the electric vehicle sector.
Initial processing of InoBat pilot battery production scrap would occur in a recycling ‘spoke’ facility. This is anticipated to be followed by hydrometallurgical refining of the spoke output (“Black Mass”) in a ‘hub’ facility to generate battery cathode raw
In addition to strong progress on its feasibility studies and preparations forthe upcoming German recycling demonstration trials, Primobius is currently very active in its endeavours to secure feed sources and offtake partners for future commercial operations.
The InoBat MoU is a significant step towards commercial operations for Primobius and represents the first of many pathways to near-term cashflow.
Primobius and InoBat have commenced business planning activities and will work progressively towards definitive legal agreements for the proposed JV.
• MoU with InoBat j.s.a., founder of European battery producer, InoBat Auto j.s.a. (jointly as “InoBat”), to establish cooperation framework for recycling of lithium-ion batteries in Central/Eastern Europe
• MoU evaluation will build investment case for sustainable recycling ofInoBat production scrap and end of life products as well as third party battery feedstock
• Primobius GmbH (50:50 JV between Neometals and German SMS group) and InoBat propose to cooperate on InoBat battery production pilot recycling before processing larger volumes from commercial operations in 2024.
• Future Primobius/InoBat hub and spoke operations to produce cathode ready materials for new battery manufacture
• MoU represents the first steps in Primobius’ commercial roll-out in Europe and secures a pathway to a source for significant volumes of critical plant feed
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email firstname.lastname@example.org for information.
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for information purposes only, and are not recommendations in any form. Always consult an investment professional.