Neometals {ASX: NMT}

MD Chris Reed drew a record audience for a CIC event in London, as he updated investors of the progress made since hi last visit.

The company has a treasury greater then their market cap, and has defined three areas of focus.

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MD Chris Reed drew a record audience for a CIC event in London, as he updated investors of the progress made since hi last visit.

The company has a treasury greater then their market cap, and has defined three areas of focus:

• Battery metal recycling
• Lithium processing
• Barrambie titanium/ vanadium project

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The company currently have around AU $125 million in cash and marketable securities, more than the current market cap of around AU $ 120 million.

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The opportunity to JV with an Indian company with deep pockets was too good to miss, and as a result NMT are looking to progress this project instead of the lithium processing plant they had planned n Kalgoorlie, WA.  The Kalgoorlie site will be retained and may well be developed in the future.

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The overrding message is that Neometals are in a pretty unique position for a mining developer, they are fully cashed up,and, as a result,  able to look at opportunities that others can only dream about.

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