Neometals Ltd (ASX / AIM: NMT)
Provided a strategy update with the following key measures to be implemented immediately, restructuring and right-sizing of the organisation and its underlying cost base to reflect a new strategic refocus.
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Neometals Primobius JV official opening
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| Neometals | ASX / AIM : NMT |
| Stage | Production + development |
| Metals | Titanium + Vanadium + lithium + nickel |
| Market cap | A$60 m @ A$0.088 |
| Location | Australia, Germany, Finland, USA |
| Website | www.neometals.com.au |
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Neometals Strategic Update
Sustainable process technology developer, Neometals Ltd (ASX: NMT, AIM: NMT & OTCQX: NMTAY) (“Neometals” or “the Company”), provides a strategy update with the following key measures to be implemented immediately:
• Restructuring and right-sizing of the organisation and its underlying cost base to reflect a new strategic refocus;
• Prioritising the progression of Primobius, the LiB Recycling joint venture with SMS group GmbH, through industrial validation to commercialisation; and
• Capital management initiatives through the targeted sale of non-core assets and strategic partnering to facilitate the ongoing development of the Company’s other technologies.
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Neometals has adapted its corporate strategy in response to prevailing battery materials prices and market sentiment.
A simplified structure and focus on the Primobius plant building joint venture targets an optimum path to creating and realising shareholder value.
These steps and the Company’s existing austerity plan are expected to lower the corporate and administrative cost base by approximately 40% year-on-year. This, coupled with the recently announced placement raising approximately A$4.5M,1 is intended to support the commercialisation of Primobius with the aim of becoming a leading supplier of LiB Recycling plants to the global EV supply chain.
Primobius’ patented recycling process is being industrially validated through the delivery of a 2,500 tpa plant for Mercedes-Benz in Kuppenheim, Germany.
Once successfully commissioned and accepted by the client, Primobius plans to then offer larger plants to its growing pipeline of licence holders, MOU counterparties
and new customers.
Primobius’ preferred business model is to offer plant supply contracts and technology
licences, rather than operating recycling plants as principal.
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To read the full news release please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds no shares in Neometals.
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