Neometals (ASX / AIM: NMT)

Announced it has secured an option, expiring 31 August 2024 to acquire an 80% equity interest of US business, Precious Metals Recovery, LLC.

PMR operates a pilot plant which demonstrates its proprietary hydrometallurgical processing flowsheet to recover precious metals from industrial waste streams.

 

 

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Neometals	ASX / AIM : NMT
Stage	Production + development
Metals	Titanium + Vanadium + lithium + nickel
Market cap	A$72 m   @ A$0.11.5
Location	Australia, Germany, Finland, USA
Website	www.neometals.com.au

 

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Neometals Option to acquire Precious Metals Waste Recovery Process and Plant in US   . Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), is pleased to announce it has secured an option, expiring 31 August 2024 (“Option” and “Option Agreement”), to acquire an 80% equity interest of US business, Precious Metals Recovery, LLC (“PMR”). PMR operates a pilot plant which demonstrates its proprietary hydrometallurgical processing flowsheet (“PMR Technology”) to recover precious metals from industrial waste streams. The Option period allows Neometals’ technical team to complete its due diligence on PMR and its business (including the PMR Technology). Highlights

Neometals secures option to acquire an 80% equity interest in a private US company which has developed a process to selectively recover precious metals from industrial waste streams; The purchase price for the 80% equity interest is approximately US$10 million (A$15.4M), payable by way of a combination of staged cash and equity in Neometals; The potential for short-term cash generation from debottlenecking the pilot plant and increasing the recovery of precious metals from waste is consistent with Neometals’ strategy; and Neometals’ technical team has completed an initial six-week variability test work program and commenced a second program in parallel with financial and legal due diligence work streams.

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To read the full news release please click HERE

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Disclosure

At the time of writing the author holds no shares in Neometals.

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