Neometals (ASX: NMT)
Published their Quarterly Activities Report.
The company looks to be in a very healthy financial position, has no debt, and the list of active projects continues to grow. […]
|Neometals||ASX : NMT|
|Stage||Production + development|
|Metals||Titanium + Vanadium + lithium + nickel|
|Market cap||A$780 m @ A$1.35|
|Location||Western Australia, Germany, Finland, USA|
Neometals Published their Quarterly Activities Report For the quarter ended 31 December 2021
• Cash balance A$72.8million, receivables and investments of A$47.9million and no debt;
• David Reed retired from Board and Chris Reed’s contract extended until 2024; and
• Ongoing preparations for Neometals’ dual listing on AIM market of the London Stock Exchange in Mar Q22.
DOWNSTREAM – MATERIALS PROCESSING
Lithium-ion Battery (“LIB”) Recycling Project (50% NMT via Primobius GmbH, an incorporated JV with SMS group GmbH)
• Demonstration Plant Trials – hydrometallurgical refining circuit successfully commissioned with Stage 1 Shredding trials subsequently completed and Stage 2 Refining trials ongoing;
• Successful commissioning of modifications to the Stage 1 Shredding circuit of Demonstration Plant to enable 10tpd commercial disposal operations commencing late Mar Q 22: and • MoU with steel producer/recycler, Stelco, advanced with formal agreements to commercialise the recycling technology in North America. Stelco has licensed the recycling technology to fast-track feedstock supply arrangements and Primobius has an option to acquire up to 50% of the Stelco recycling entity.
Vanadium Recovery Project (“VRP”) (earning into 50:50 JV with Critical Metals Ltd)
• Engineering process data prepared for SSAB project (VRP1) feasibility study which has been awarded to Nordic focused engineering firm Sweco Industry Oy; and
• Offtake, environmental permitting, CO2 capture and additional project business development activities advanced.
ELi® LithiumProcess Project (“ELi®”) (70% NMT / 30% Mineral Resources)
• Neometals sustainable battery materials portfolio enhanced with commercialisation opportunity over proprietary electrolysis process to produce lithium chemicals from lithium salt, ELi®; and
• Portugese chemical company, Bondalti Chemicals S.A to co-fund and construct an electrolysispilot plant at the Bondalti chemical complex in Estarreja as part of evaluation towards a proposed 25,000tpa lithium refinery.
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