Home
 

Neometals Vanadium Recovery Project Update

Neometals Ltd (ASX: NMT & AIM: NMT)

Announced that the Vanadium Recovery Project special purpose vehicle, Recycling Industries Scandinavia AB (“RISAB”), is making strong progress in the lead up to its VRP1 FID. 

 

.

Neometals vanadium slag plant

 

 

Neometals Vanadium Recovery Project Update

 

Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), is pleased to announce that the Vanadium Recovery Project (“VRP1”) special purpose vehicle, Recycling Industries Scandinavia AB (“RISAB”), is making strong progress in the lead up to its VRP1 FID.

 

.
Highlights:

• JV Shareholders to the Neometals vanadium recovery project have extended the project Financial Investment Decision (“FID”) deadline until 30th September 2023;
• Project level equity finance attracting good interest from Nordic and International investors; and
• Due diligence by debt financing club, led by European Investment Bank, also progressing favourably.

Neometals has a 72.5% interest in VRP1 with Critical Metals Ltd (“Critical Metals”). VRP1 is at the financing stage ahead of a decision to construct and produce high-purity vanadium pentoxide (“V2O5”) from highgrade vanadium-bearing steel making by-product (“Slag”) generated by SSAB EMEA AB and SSAB Europe Oy (collectively “SSAB”) in Scandinavia.

RISAB has engaged leading Nordic investment banks, SEB and Aventum Partners, to lead VRP1 financing processes.
. Project financing activities are progressing well with due diligence led by the European
Investment Bank and a preferred banking club. Project level equity finance is attracting good interest from Nordic and International investors.

To allow for additional due diligence evaluation work and negotiations with potential financiers, RISAB, Neometals and Critical Metals have extended the FID deadline under the RISAB shareholders deadline to 30 September 2023.

SSAB is supportive of the progress that RISAB has made and the parties are in
advanced discussions to formalise a corresponding extension to the investment decision deadline under the SSAB slag supply agreement to align with project financing timelines.

 

 

Neometals Managing Director Chris Reed said:

“The project team has made outstanding progress towards financing the Vanadium Recovery Project.

 

“We look forward to advancing the financing discussions with the interested parties and progressing to a FID in the coming quarter.”

.

To read the full news release, please click HERE

=======

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

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 non deal, 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 andrew@city-investors-circle.com

.

=======

,

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 awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

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

.

To read our full terms and conditions, please click HERE

.