TIDMNMT
RNS Number : 6238R
Neometals Ltd
30 October 2023
30 October 2023
Neometals Ltd
("Neometals" or "the Company")
Quarterly Activities Report
For the quarter ended 30 September 2023
Highlights
CORPORATE
-- Cash balance A$14.2 million, investments of A$22.7 million
and no debt.
CORE BATTERY MATERIALS BUSINESS UNITS
Lithium-ion Battery ("LIB") Recycling (50% NMT via Primobius
GmbH, an incorporated JV with SMS group GmbH)
-- Awarded purchase order from Mercedes-Benz for 2,500tpa LIB
shredding 'Spoke' plant, SMS mobilised subsequent to quarter end
and award of matching refinery 'Hub' expected DecQ 2023;
-- Engineering Cost Study results for 21,000tpa integrated Spoke
and Hub indicate potential for the main product, lithium, to be in
the lowest cost position globally; and
-- First national phase patent granted in Australia,16 other
national phase patents are at various stages of prosecution
globally.
Lithium Chemicals (Co-funding Pilot Plant with Bondalti
Chemicals SA (and related entity) via Reed Advanced Materials Pty
Ltd ("RAM") (70% NMT, 30% Mineral Resources Ltd)
-- Completion of purification stage of pilot test work program
at SGS in Canada. Commencement of electrolysis and product
crystallisation stage expected in November 2023; and
-- Pilot activities being co-funded by Bondalti Chemicals SA
with future works to fall under new co-operation agreement covering
planned demonstration and commercial plant activities.
Vanadium Recovery ("VRP") (72.5% NMT via Recycling Industries
Scandinavia AB ("RISAB"), an incorporated JV with Critical Metals
Ltd), Technology 100% NMT via Avanti Materials Ltd)
-- Progressed project financing activities and secured 'take or
pay' offtake agreement with Glencore International AG for 100% of
vanadium production at market linked pricing without forward
sales.
-- Subsequent to the end of the quarter Neometals providing
notice to its partner in the Finnish Vanadium Recovery Project
("VRP1") of its wish not to proceed with construction; and
-- Commercialisation of the VRP technology will now be conducted
under a technology licensing business model.
UPSTREAM - MINERAL EXTRACTION
Barrambie Titanium and Vanadium ("Barrambie") (100% NMT)
-- Metallurgical test-work, regional exploration, native title,
environmental and water activities advanced;
-- Offtake negotiations discontinued with Jiuxing given
inability to agree mutually acceptable terms in relation to offtake
and equity funding; and
-- Ongoing engagement with third-party titanium producers and
mining services companies in relation to offtake, equity investment
and contract mine-to-port solution.
Company Overview
Neometals has developed and is commercialising three
environmentally-friendly processing technologies that produce
critical and strategic battery materials at lowest quartile costs
with minimal carbon footprint.
Through strong industry partnerships, Neometals is demonstrating
the economic and environmental benefits of sustainably producing
lithium, nickel, cobalt and vanadium from lithium-ion battery
recycling and steel waste recovery. This reduces the reliance on
traditional mine-based supply chains and creates more resilient,
circular supply to support the energy transition.
The Company's three core business units are exploiting the
technologies under principal, joint venture and licensing business
models:
-- Lithium-ion Battery ("LiB") Recycling (50% technology) -
Commercialisation via Primobius GmbH JV (NMT 50% equity). All
plants built by Primobius' co-owner (SMS group 50% equity), a
150-year-old German plant builder. Providing recycling service as
principal in Germany and commenced plant supply and licensing
activities as technology partner to Mercedes-Benz. Primobius
targeting first commercial 50tpd plant offer to Canadian company
Stelco in DecQ2023;
-- Lithium Chemicals (70% technology) - Commercialising patented
ELi(TM) electrolysis process, co-owned 30% by Mineral Resources
Ltd, to produce battery quality lithium hydroxide from brine and/or
hard-rock feedstocks at lowest quartile operating costs. Co-funding
Pilot Plant trials in 2023 with planned Demonstration Plant trials
and evaluation studies in 2024 for potential 25,000tpa LiOH
operation in Portugal under a JV with a related entity of Bondalti,
Portugal's largest chemical company; and
-- Vanadium Recovery (100% technology) - aiming to produce
high-purity vanadium pentoxide from processing of steelmaking
by-product ("Slag") at lowest-quartile operating cost. Targeting
partnerships with steel makers and participants in the vanadium
chemical value chain under a low-risk, low-capex technology
licensing business model.
Figure 1: Location map of Neometals' Projects together with
partner developments
Core Battery Materials Business Units
Lithium-ion Battery Recycling
( Intellectual Property via ACN 630 589 507 Pty Ltd- NMT
50%, SMS 50%) Commercialising via Primobius GmbH, NMT 50%
SMS group GmbH 50%
Primobius GmbH ("Primobius") is the 50:50 incorporated joint
venture established in 2020 to co-fund the commercialisation of the
lithium-ion battery recycling technology ("LIB Recycling
Technology") originally developed by Neometals.
The LIB Recycling Technology recovers materials contained in LIB
production scrap and end-of-life cells that might otherwise be
disposed of in land fill. Current LIB recycling processes
predominantly rely on high carbon emission pyrometallurgy
processes. Primobius' two stage process recovers nickel, cobalt,
lithium and manganese battery materials (and physically recovers
metals and plastics) into saleable products that can be reused in
the LIB supply chain. The LIB Recycling Technology prioritises
maximum safety, environmental sustainability, and product
recoveries, to support the circular economy and
decarbonisation.
Figure 2: High level flowsheet showing the movement of materials
from Shredding and Beneficiation ('Spoke') through to refining
('Hub') stages for the LIB Recycling Technology
The LIB Recycling Technology comprises two stages:
1. "Spoke" - Comprising of LIB receipting, sorting, discharging,
disassembly together with shredding and separation, to physically
separate all of the components of LIBs received, by metal casings,
electrode foils, plastics and active battery materials; and
2. "Hub" - Comprising of leaching, purification, and
crystallisation of the active materials suitable for use in
production of LIB precursor, via a hydrometallurgical refining
process.
During the quarter the LIB Recycling Technology IP holding
company ACN 630 589 507 Pty Ltd received its first national phase
patent granted in Australia,16 other national phase patents are at
various stages of prosecution globally.
Primobius Status
Primobius' current business model contemplates the following
revenue sources:
1. Hilchenbach LIB disposal fees (for LIBs supplied by multiple
waste aggregators delivering predominantly whole modules);
2. Sale of products from the Hilchenbach Spoke (metallic scrap,
chemical intermediates and chemicals purchased by various recyclers
and smelting customers); and
3. Mechanical plant and equipment package supply (Stelco and
Mercedes) and associated technology licensing royalties.
Hilchenbach Operations
The Spoke section of the demonstration plant in Hilchenbach
Germany ("Hilchenbach Spoke") continues its ramp up to the
facility's maximum permit capacity of 9tpd of LIBs.
The Hilchenbach Spoke is providing commercial LIB disposal
services and the hydrometallurgical refinery 'Hub' continues to
operate as a demonstration plant. Namely, the Hub is being utilised
for discrete customer trials that support flowsheet optimisation
and generate product samples.
During the quarter, the Hilchenbach Spoke continued to produce
intermediate mixed nickel/cobalt product ("Black Mass"). The
typical LIB contains approximately 48% Black Mass which Primobius
is currently recovering at high levels and selling to a number of
global offtakers on a spot basis with pricing set according to
nickel and cobalt content. Black Mass feedstock for Hub trials is
diverted from the Spoke instead of being sold.
Business Development
Primobius' key near-term commercial agreements are summarised
below:
-- A Cooperation Agreement with Mercedes-Benz's ("Mercedes")
("Mercedes Cooperation") for the engineering, equipment supply and
installation for a 2,500tpa fully integrated, closed-loop recycling
plant, 5 year research, collaboration and development of an
industrial-scale solution for Mercedes [1] ; and
-- Technology licensing and joint venture option agreements with
a subsidiary of Stelco Inc. ("Stelco") ("Stelco Agreements") which
plans to secure large volumes of end-of-life vehicles in North
America for scrap steel and recycle LIBs, with a first proposed
21,000tpa integrated operation ("Stelco Spoke" followed by "Stelco
Hub") at Stelco's Hamilton Works, Ontario, Canada [2] .
Activity Summary
During the quarter, Primobius made significant commercial and
development progress. It received its first plant package purchase
order which has underpinned a growing order book under the
Company's preferred plant supply and technology licensing/royalty
business model. The period also marked the fifth quarter of modest
revenue generation from the Hilchenbach Spoke and from front-end
engineering and design services rendered to Primobius' customers in
preparation for the offer and award of further recycling mechanical
plant and equipment package supply agreements.
Significant activities comprised:
Technical
-- Successful completion of Engineering Cost Study ("ECS")
results for 21,000tpa integrated Spoke and Hub indicated potential
for the main product, lithium, to be at the lowest cost position
globally after co and by-product credits. The Hub is designed to
process 12,000tpa of concentrate comprised of the anode and cathode
materials ("Black Mass") arising from the processing of 21,000tpa
of LiB modules and cells in the Spoke; and
-- Post the quarter, new lithium recovery flowsheet results
improved lithium yields from >83% to >93% from trials that
produced lithium fluoride ("LiF") product with +95% purity. This
lithium flowsheet process improvement can replace Primobius'
current lithium solvent-extraction circuit which produces lithium
sulphate and is expected to reduce both operating and capital
costs. Importantly, Primobius has received strong interest in its
LiF product from the lithium electrolyte supply chain and will be
providing samples under material test-work agreements with leading
Chinese precursor and electrolyte manufacturers;
Table 1 : Key Hub and Spoke ECS Metrics
Metrics Shredding Spoke Refining Hub
===========================
Hub Annual Throughput / Capacity 21,000tpa 12,000tpa Black
Mass [3] feed
=========================== =======================
Hub Annual Production [4] 12,000tpa Black 9,300tpa
: Mass 4,300tpa
Hydrated nickel sulphate: 1,600tpa
NiSO4.6H2O(s) 7,000tpa (liquid)
Hydrated cobalt sulphate: 40tpa
CoSO(4) .7H(2) O(s) 23,400tpa
Lithium fluoride: LiF(s)
Manganese sulphate: 32% w/w
MnSO4(aq)
Copper metal/cathode
Ammonium sulphate: (NH(4)
)(2) SO(4) (s)
=========================== =======================
Capital Cost (including 20% EUR102.5M [6] EUR275M (US$303M)
Contingency for Spoke and 15% (US$113.5M)(6)
Contingency for Hub) [5]
=========================== =======================
Annual Operating Costs EUR27.1M (US$30M) EUR56M (US$61M)
=========================== =======================
Unit Operating Costs EUR1,292(9) (US$1,430)(6) EUR 2,644/tpa
(US$2,926/tpa)
of LiB fed into
a matching Primobius
Spoke
=========================== =======================
Workforce 239 82
=========================== =======================
Figure 3 : Revenue by Recovered Elements in 1 Tonne of Spoke
Feed
Figure 4: Lithium Cost Curve (2025). Key Production and Price
assumptions used were: Nickel 2,095tpa/US$22,450/t, Cobalt 913
tpa/US$33,420/t, Annual OpEx US$91.5, LCE equivalent: 2,272tpa
Commercial
-- Primobius awarded a purchase order from Mercedes for 2,500tpa
LIB shredding 'Spoke' plant to be installed at Mercedes Kuppenheim
works;
-- Primobius awarded a purchase order to SMS group for the
Mercedes 'Spoke' plant, SMS have commenced construction of the
equipment off-site;
-- Post the quarter SMS mobilised to site and commenced assembly
of site office and workshops in preparation for installation
activities scheduled to commence in the December quarter;
-- Finalisation of offer to Mercedes for the Kuppenheim Hub
plant package; and
-- Ongoing business development activities to build a global
pipeline of potential future recycling plants.
Figure 5 : Artist rendering of Mercedes-Benz Battery Recycling
building housing the 2,500tpa plant from Primobius
Figure 6 : 3D rendering of Mercedes' hydrometallurgical refinery
'Hub' at Kuppenheim
Figure 7: LIB Recycling Indicative Timeline
Corporate
-- Continued recruitment activities to expand the Primobius
technical, operational, commercial and management teams in line
with corporate milestones and to be able to offer mechanical plant
and equipment package supply contracts as demand grows;
-- Appointment of dedicated Primobius CEO, Dr Michel Siemon on
23 August 2023, Dr Siemon is Head of Corporate Development at SMS
group; and
Appointment subsequent to the quarter end of former Mercedes and
VW electric vehicle and battery recycling expert, Christian Reiche
to lead Neometals' LiB recycling activities.
Figure 8 - LHS, newly appointed Primobius CEO, Michel Siemon and
RHS Neometals newly appointed 'Head of Recycling', Christian
Reiche
Lithium Chemicals
(Intellectual Property via Reed Advanced Materials Pty
Ltd ("RAM") - NMT 70%, Mineral Resources Ltd 30%)
RAM co-funding pilot scale trials with Bondalti Chemicals
SA (and related entity)
Neometals, through RAM, is commercialising its proprietary
process (ELi Processing Technology ("ELi(TM)")) to produce lithium
hydroxide from lithium chloride solutions using electrolysis.
Neometals has used ELi(TM) to convert lithium chloride solutions
produced from both natural spodumene and brine feedstocks at
semi-pilot scale. ELi(TM) has the flexibility to produce lithium
hydroxide and lithium carbonate and at a significantly lower
operating cost than for conventional commercial production
processes. ELi's key economic advantage lies in the potential to
replace costly, imported bulk reagents for traditional carbonation
and causticising processing steps with electricity and low-cost
internally generated reagents. RAM holds 17 granted patents in the
hard rock and brine producing countries and has a further 14
pending patent applications.
Figure 9: Schematic showing a comparison of the conventional
flowsheet for
the production of lithium hydroxide from brines with the
patented Eli(TM) process
A feasibility study in 2016 indicated the potential for ELi(TM)
to significantly reduce the cost and carbon footprint associated
with production, transport and consumption of the carbon-intensive
reagents that are used in conventional lithium processes. An
engineering and cost study ("ECS") in 2023 further confirmed
industry-leading economics with the potential for step change in
operating costs to developers of lithium brine sources using
ELi(TM).
Figure 10: ELR ECS Opex comparison showing significantly reduced
operating costs to generate LHM when compared to conventional Brine
and spodumene routes (noting that conventional Brine processing is
a two-stage process with lithium carbonate ("LC") produced before
additional processing into LHM.
Estarreja Lithium Refinery Project
In the December quarter 2021, RAM entered into a binding
Co-operation Agreement ("ELi Co-operation") with Portugal's largest
chlor-alkali producer, Bondalti Chemical SA. Bondalti is part of
the Jose De Mello Group, one of Portugal's largest conglomerates,
family controlled and founded in 1898. Bondalti and RAM have
co-funded evaluation activities to construct and operate a
commercial-scale lithium refinery ("Estarreja Lithium Refinery" or
"ELR"") adjacent to Bondalti's chlor-alkali operations in
Estarreja, Portugal.
The evaluation activities completion of an engineering cost
study ("ELR ECS") and pilot-scale metallurgical test-work ("Pilot
Trials"). The Pilot Trials are in progress and expected to be well
advanced in the March Q 2024.
Table 2 : Key ELR ECS Metrics*
ECS Metrics (100% ownership
basis)
Annual Production 25,000tpa LHM
============================
Annual Throughput 80,000 tpa Brine @ 6% Li
============================
Average Operating Cost (+/-15%)** EUR1,768/t (US$1,945/t)
LHM
============================
Total initial capital costs (+/-15%)*** EUR405M (US$446 M)
============================
Capital Intensity**** EUR16,200/t (US$17,840/t)
LHM capacity
============================
* (for full details refer to Neometals ASX announcement headlined 'Portugal Lithium
Refinery
Study Confirms Step-change Opex of ELi(TM) Technology" released on 26(th) April 2023).
** from receipt of 6% Li brine concentrate to packaged high purity "battery grade"
lithium
hydroxide product, excluding by-product credits
*** Total of direct and indirect capex including 15% contingency, EPC fees and design
post-Class
3
**** Based on total capex and 25,000tpa LHM capacity
With the original planned pilot activities nearing conclusion
and Bondalti's parent incorporating a dedicated lithium subsidiary,
Lifthium Energy SA, the Parties have allowed the current ELi
Cooperation to lapse. RAM and Bondalti are continuing to co-fund
the agreed pilot plant activities while a new cooperation agreement
is being drafted in parallel [7] . The new agreement contemplates
the construction of a Demonstration Plant and Front-End Engineering
and Design Study ("ELi(TM) FEED Study") and key commercial terms
for technology licensing and potential joint operation.
Activity Summary
The ELR opportunity was progressed during the quarter with
strong focus on technical studies, pilot trial activities and
sourcing feedstocks for pilot, future demonstration and longer-term
commercial operations.
Technical
-- As part of the ELR evaluation, the parties are implementing a
phased technical validation plan including pilot evaluation
("ELi(TM) Pilot"). The ELi(TM) Pilot comprises 3 stages being
'purification', 'electrolysis' and 'crystallisation'. The
purification test-work at SGS in Canada (processing concentrated
and purified salar brine (6% Li basis)) was materially complete by
the end of the quarter and preparations are underway for the
follow-on electrolysis stage commencing in November 2023; and
-- Demonstration plant (planned for construction at Bondalti's
Estarreja chlor-alkali operation) electrolyser design work was
advanced in alignment with the ELi(TM) Pilot flowsheet.
Commercial
-- Commercial dialogues were progressed with aspiring and
existing producers of lithium brine concentrates to develop terms
of supply to the ELR. This included ongoing discussions with the
commercial brine source feed suppliers to the planned Demonstration
Plant;
-- Commercial discussions progressed with potential lithium
hydroxide offtake partners for the ELR; and
-- Commercial discussions with potential ELi licensees in areas outside Portugal and Spain.
Figure 11: Indicative Timeline for the ELR
Vanadium Recovery
(Intellectual Property via Avanti Materials Ltd - NMT
100%)
Commercialising via Recycling Industries Scandinavia
AB ("RISAB") - 72.5% NMT
Neometals is commercialising its sustainable, proprietary
vanadium recovery process ("VRP Technology") to produce vanadium
products for battery and aerospace alloying applications from
stockpiles of vanadium-bearing steel making by-product. The unique
selling points of the technology are:
-- Potential lowest-quartile operating costs [8] from processing
steelmaking slags without upstream mining costs/risk/carbon
footprint;
-- A processing flowsheet utilising conventional equipment at
atmospheric pressure, mild-temperatures, and non-exotic materials
of construction; and
-- Likely very low or net zero greenhouse gas footprint given
the absence of mining and a processing route requiring the mineral
sequestration of CO(2) into a potentially saleable carbonate
by-product which sequesters CO(2) .
Figure 12: High level flowsheet of Neometals VRP Technology
:
Figure 13: 2022 Vanadium Cost Curve.
Figure 14: Carbon Footprint for VRP1 at Pori, Finland
highlighting benefit of sequestering CO2 in by-product.
RISAB Status
Neometals and unlisted Scandinavian-focused explorer, Critical
Metals Ltd ("Critical"), are jointly evaluating the feasibility of
recovering high-purity vanadium pentoxide (" V(2) O(5) " ) from
high-grade vanadium-bearing steel by-product ("Slag") in
Scandinavia. Neometals has funded and managed evaluation activities
earning a 72.5% interest in an incorporated JV (Recycling
Industries Scandinavia AB ("RISAB")) with Critical.
In March 2023, Neometals announced results of a feasibility
study ("VRP1 FS") based on the AACE(R) Class 3 engineering cost
study ("VRP1 ECS") completed by Nordic engineering group Sweco
Industry OY. The VRP1 ECS confirmed the potential for
lowest-quartile operating costs in a high-purity vanadium chemical
operation with a low-to-negative carbon footprint (for full details
refer to Neometals ASX announcement headlined "Vanadium Recovery
Project Delivers Strong Feasibility Results" released on 8(th)
March 2023) .
RISAB engaged leading Nordic investment banks SEB and Aventum
Partners to lead the equity and project financing processes
respectively. Strong interest has been received from investment and
commercial banks in Europe with debt due diligence led by the
European Investment Bank and a preferred banking syndicate.
A take-or-pay offtake agreement has been struck with Glencore
International AG ("Glencore") and the project is at the financing
stage ahead of a decision to construct and produce high-purity
vanadium pentoxide ("V(2) O(5) ") from high-grade vanadium-bearing
steel making by-product ("Slag") under a feedstock supply agreement
with SSAB EMEA AB and SSAB Europe Oy (collectively "SSAB").
Post the quarter, Neometals provided a status update on RISAB's
progress towards securing the VRP1 debt and equity financing
required to make a FID. It subsequently has provided notice to its
partner in the VRP1 that it does not wish to proceed with the
construction of a slag processing facility.
Neometals has requested that RISAB consider alternative methods
of funding, including outright sale of the VRP1 project holding
company. However, Neometals intends to revert to a technology
licensing business model to commercialise its proprietary vanadium
recovery process ("VRP Technology").
Upstream - Mineral Extraction
Barrambie Titanium/Vanadium Project
(Neometals 100%)
The Barrambie Vanadium and Titanium Project in Western Australia
("Barrambie") is one of the largest vanadiferous-titanomagnetite
("VTM") Mineral Resources globally (280.1Mt at 9.18% TiO(2) and
0.44% V(2) O(5) )*, containing the world's second highest-grade
hard rock titanium Mineral Resource (53.6Mt at 21.17% TiO(2) and
0.63% V(2) O(5) ) and high-grade vanadium resource (64.9Mt at 0.82%
V(2) O(5) and 16.9% TiO(2) ) subsets (referred to as the Eastern
and Central Bands respectively) based on the latest Neometals 2018
Mineral Resource Estimate [9] .
Barrambie is located approximately 80km north-west of Sandstone
in Western Australia and the Mineral Resource is secured under a
granted mining lease. Neometals secured environmental approval in
2012 to mine and construct a 3.2 Mtpa processing plant (Ministerial
Statement 911), extended the timeframe for implementation in 2019
(Ministerial Statement 1119) and is currently in the process of
securing a further extension of the timeframe for project
implementation. The project also has a granted mining proposal to
extract approximately 1.2Mtpa of mineralisation.
The current stage of development sees Neometals deeply engaged
with third-party titanium producers and mining services companies
in relation to offtake, equity investment and contract mine-to-port
solutions.
Activity Summary
During the quarter the following activities were undertaken:
Technical
-- Metallurgical variability assessments completed in relation
to comminution with corresponding beneficiation work pending;
-- Regional exploration completed across Barrambie tenure to
maintain tenements in good standing
-- Preparations were undertaken for seismic surveys,
rehabilitation of drill lines, soil analysis and rock chip
sampling, and a geological database review; and
-- Flora and vegetation studies were completed during the
quarter and a final report is spending. Additionally, a field
program to assess the potential of the saline water prospects was
completed with a targeted water exploration program to follow.
Baseline monitoring including dust, weather and water table depth
continues.
Commercial
Subsequent to the end of the quarter, Neometals announced that
its wholly owned subsidiary Australian Titanium Pty Ltd was unable
to advance from offtake term sheet ([10]) to binding take or pay
offtake agreement with Jiuxing Titanium Materials Co ("Jiuxing").
The parties were unable to agree mutually acceptable terms in
relation to offtake and equity funding. Regrettably, the broader
macroeconomic backdrop has required Jiuxing to adjust its
production plans and shelve further Barrambie related activities.
The Company is continuing its engagement with third-party titanium
producers and mining services companies in relation to offtake,
equity investment and contract mine-to-port solutions.
Corporate
In parallel with its evaluation and commercial activities,
Neometals continues to assess the optimal strategy to return
Barrambie value to shareholders.
Figure 15: Barrambie Indicative Timeline
Corporate
FINANCIAL
Hannans Limited (ASX:HNR) (Hannans) (Yilgarn
Nickel/Lithium/Gold/Battery Recycling)
As at 30 September 2023 Neometals held 879,812,014 ordinary
fully paid shares (26% of the issued capital) in Hannans on an
undiluted basis. Hannans holds exclusive technology licences to
Neometals' original LIB Recycling Technology in Italy and the
Balkans, a non-exclusive licence in the United Kingdom and it is
earning a 50% interest in an exclusive licence for Scandinavia held
by Critical Metals.
Critical Metals Limited (Unlisted, Scandinavian
Lithium/Cobalt/Base Metals)
Neometals holds 18.4% of unlisted public company Critical Metals
Ltd, a company which holds an exclusive licence to Neometals'
original LIB Recycling Technology in Scandinavia and 72.5% interest
in RISAB which is developing VRP1 and VRP2.
Finances (unaudited)
Cash and term deposits on hand as of 30 September 2023 totalled
$14.2 million, including $0.2 million in restricted use term
deposits supporting contractual obligations. The Company has net
receivables of $1.1 million and investments totalling $22.7
million.
Related Party payments for the quarter outlined in the ASX
Appendix 5B released contemporaneously at section 6.1 total
$425,625 and are made up of Director fees and superannuation.
Issued Capital
The total number of shares on issue as at 30 September 2023 was
553,307,937.
Authorised on behalf of Neometals by Christopher Reed, Managing
Director.
S
For more information, please contact:
Neometals Ltd
Chris Reed, Managing Director & Chief Executive
Officer +61 8 9322 1182
Jeremy McManus, General Manager - IP & IR +61 8 9322 1182
Cavendish Securities plc - NOMAD & Joint
Broker
Neil McDonald +44 (0)131 220 9771
Peter Lynch +44 (0)131 220 9772
Adam Rae +44 (0)131 220 9778
RBC Capital Markets - Joint Broker +44 (0) 20 7653 4000
Paul Betts
Jamil Miah
+ 44(0) 20 3 757
Camarco PR 4980
Gordon Poole
Emily Hall
Lily Pettifar
About Neometals
Neometals has developed and is commercialising three
environmentally-friendly processing technologies that produce
critical and strategic battery materials at lowest quartile costs
with minimal carbon footprint.
Through strong industry partnerships, Neometals is demonstrating
the economic and environmental benefits of sustainably producing
lithium, nickel, cobalt and vanadium from lithium-ion battery
recycling and steel waste recovery. This reduces the reliance on
traditional mine-based supply chains and creating more resilient,
circular supply to support the energy transition.
The Company's three core business units are exploiting the
technologies under principal, joint venture and licensing business
models:
-- Lithium-ion Battery ("LiB") Recycling (50% technology) -
Commercialisation via Primobius GmbH JV (NMT 50% equity). All
plants built by Primobius' co-owner (SMS group 50% equity), a
150-year-old German plant builder. Providing recycling service as
principal in Germany and commenced plant supply and licensing
activities as technology partner to Mercedes-Benz. Primobius
targeting first commercial 50tpd plant offer to Canadian company
Stelco in the DecQ 2023;
-- Lithium Chemicals (70% technology) - Commercialising patented
ELi(TM) electrolysis process, co-owned 30% by Mineral Resources
Ltd, to produce battery quality lithium hydroxide from brine and/or
hard-rock feedstocks at lowest quartile operating costs. Co-funding
Pilot Plant trials in 2023 with planned Demonstration Plant trials
and evaluation studies in 2024 for potential 25,000tpa LiOH
operation in Portugal under a 50:50 JV with related entity to
Bondalti, Portugal's largest chemical company; and
-- Vanadium Recovery (100% technology) - aiming to enable
sustainable production of high-purity vanadium pentoxide from
processing of steelmaking by-product ("Slag") at lowest-quartile
operating cost. Targeting partnerships with steel makers and
participants in the vanadium chemical value chain under a low risk
/ low capex technology licensing business model.
For further information visit www.neometals.com.au
APPENDIX
Appendix 1: Global Resource
Table 3: Barrambie Mineral Resource Estimate, April 2018*
Appendix 2: Tenement Interests
As at 30 September 2023, the Company has an interest in the
following projects and tenements in Western Australia.
Project Name Licence Name Beneficial Status
Interest
Barrambie M57/173-I 100% Live
============== ============ =========
Barrambie E57/769-I 100% Live
============== ============ =========
Barrambie E57/770-I 100% Live
============== ============ =========
Barrambie E57/1041-I 100% Live
============== ============ =========
Barrambie E57/1220 100% Pending
============== ============ =========
Barrambie E57/1244 100% Pending
============== ============ =========
Barrambie E57/1245 100% Pending
============== ============ =========
Barrambie E57/1379 100% Pending
============== ============ =========
Barrambie E57/1401 100% Pending
============== ============ =========
Barrambie E20/1037 100% Pending
============== ============ =========
Barrambie L57/0030 100% Live
============== ============ =========
Barrambie L57/0064 100% Pending
============== ============ =========
Barrambie L57/0065 100% Pending
============== ============ =========
Barrambie L57/0066 100% Pending
============== ============ =========
Barrambie L20/0055 100% Live
============== ============ =========
Barrambie L20/0080 100% Live
============== ============ =========
Barrambie L20/0081 100% Live
============== ============ =========
Yellowdine E77/2809 100% Pending
============== ============ =========
Queen Victoria E15/1416-I 100% Live
Rocks
============== ============ =========
Changes in interests in mining tenements Interests in mining
tenements acquired or increased
Project Name Licence Name Acquired or increased
Barrambie E57/1401 Application
============== =======================
Interests in mining tenements relinquished, reduced, or
lapsed
Project Name Licence Name Relinquished, reduced, or
lapsed
Barrambie E20/1030 Withdrawal
============== =============================
[1] (for full details refer to Neometals ASX announcement
headlined "Cooperation Agreement with Mercedes Benz" released on
13(th) May 2022)
[2] (for full details refer to Neometals ASX announcement
headlined "Battery Recycling - Binding Agreements with Stelco for
NA" released on 31st December 2021)
[3] Black Mass quality is as produced from a Primobius
Spoke.
[4] Based on NMC 622/BM 1 feed chemistry.
[5] Hub CapEx and OpEx cost estimates are denominated in Euros
and USD using an exchange rate of 1 Euro: 1.1063 US$ (Reserve Bank
of Australia (RBA) 27/7/2023).
[6] German 12-month inflation: 6.4% (Source: DEstatis,
https://www.destatis.de/EN/Themes/Economy/Prices/Consumer-Price-Index/_node.html
). and September 2022 EUR/US$ F/X 1:1 (source RBC (
https://apps.royalbank.com/apps/foreign-exchange-calculator )
Note figures in table 1 above relating to the Spoke have been
adjusted from the original ASX Announcement in 2022 to dollars of
today (for full details refer to Neometals ASX announcement titled
"Cooperation Agreement with Mercedes-Benz" released on 13 May
2022.
7 (for full details refer to Neometals ASX announcement
headlined "Lithium Chemicals Co-operation Update" released on 3(rd)
October 2023) .
[8] (for full details refer to Neometals ASX announcement
headlined "Vanadium Recovery Project Delivers Strong feasibility
Results" released on 8(th) March 2023) .
[9] (for full details refer to ASX announcement headlined "
Barrambie Project - Mineral Resource Update " released on 17 April
2018 and Table 3 (Appendix 1)
[10] For further details see Neometals announcement headlined
"Barrambie Offtake Update" dated 2nd October 2023
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END
MSCMLBMTMTBTTPJ
(END) Dow Jones Newswires
October 30, 2023 03:01 ET (07:01 GMT)
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