Neometals Ltd (ASX:NMT) Reports Strong Quarterly Results
Financial Overview
Neometals Ltd (ASX:NMT) announced a robust cash balance of A$10.7 million, alongside investments and net receivables also amounting to A$10.7 million, with no debt reported. During the quarter, the company raised A$7.1 million through a placement of A$4 million and an entitlement issue of A$3.1 million at A$0.09 per share.
Downstream Processing Technologies
In lithium-ion battery recycling, Neometals’ joint venture, Primobius GmbH, successfully facilitated the opening of a 2,500tpa recycling facility in Kuppenheim, Germany, supplied to Mercedes-Benz. The plant aims to produce high-purity battery materials, with completion of commissioning activities planned for June and December 2025.
Neometals also completed the final stage of its lithium chemicals pilot trial, achieving high-purity lithium hydroxide monohydrate production, demonstrating its sustainable ELi™ process’s effectiveness for commercial-scale operations.
Vanadium Recovery Project Update
The company continues to progress its vanadium recovery project, collaborating with Recycling Industries Scandinavia AB, focusing on financing through equity and debt processes, with aims to utilise a new EU-funded grant for project enhancement.
Upstream Exploration Activities
The Barrambie Gold and Vanadium Projects are progressing with a completed Aboriginal Heritage Survey and preparations for gold exploration set to commence in March 2025. Neometals is also actively seeking to divest its titanium and vanadium mineral resources, further strengthening its operational focus.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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